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.0016). The highest annual principal and interest payments on the City's <br />existing CIP Bonds plus those proposed to be issued under this CIP are <br />estimated to be approximately $1,136,865. As such, debt service on the <br />CIP Bonds will be within the annual limits under the CIP Act. <br />CIP Bonds Debt Service Limit <br />Assessor's Estimated Market Value <br />Multiply by .16% <br />CIP Act Debt Service Limit <br />Less: Existing Debt Service Subject to the Limit <br />Less: Proposed CIP Bond Issue <br />Unused Debt Service Limit <br />1, 650, 987, 200 <br />0.0016 <br />2,641,580 <br />(270,850) <br />(866,015) <br />1,504,715 <br />VI. PLAN CONTINUATION <br />This CIP should be reviewed as needed by the City Council using the <br />process outlined in this document. Through annual amendment, the City <br />Council reviews proposed expenditures, makes priority decisions, and <br />seeks funding for those expenditures it deems necessary for the City. If <br />deemed appropriate, the Council should prepare an update to this CIP for <br />future CIP Bond issuance. <br />City of Ramsey, MN <br />Five -Year Capital Improvement Plan for Bond Issuance 8 <br />