|
City of Ramsey
<br /> Legal Debt Margin Information
<br /> Last Ten Fiscal Years
<br /> Fiscal Year
<br /> 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
<br /> Debt Limit $ 57,200,676 $ 53,252,703 $ 52,910,907 $ 59,662,374 $ 62,348,919 $ 65,840,919 $ 72,493,821 $ 77,913,726 $ 81,439,488 $ 87,330,236
<br /> Total net debt applicable to limit 15,675,147 15,993,070 16,141,727 19,191,513 18,316,143 17,454,836 16,444,851 15,298,888 23,195,703 21,803,268
<br /> Legal debt margin $ 41,525,529 $ 37,259,633 $ 36,769,180 $ 40,470,861 $ 44,032,776 $ 48,386,083 $ 56,048,970 $ 62,614,838 $ 58,243,785 $ 65,526,968
<br /> Total net debt applicable to limit
<br /> as a percentage of debt limit 27.40% 30.03% 30.51% 32.17% 29.38% 26.51% 22.68% 19.64% 28.48% 24.97%
<br /> Legal Debt Margin Calculation for Fiscal Year 2021
<br /> Taxable Market value $ 2,911,007,883
<br /> Debt limit(3%of market value) 87,330,236
<br /> Debt applicable to limit:
<br /> Total bonded debt and certificates $ 26,305,000
<br /> Less:
<br /> Obligations issued with special assessments (3,965,000)
<br /> Amounts available in respective Debt Service Funds (536,732)
<br /> Total deductions (4,501,732)
<br /> 21,803,268
<br /> Legal debt margin $ 65,526,968
<br /> Note: Under state finance law,the City of Ramsey's outstanding general obligation debt should not exceed 3 percent of total taxable market value. By law,the general obligation debt
<br /> subject to the limitation may be offset by amounts set aside for repaying general obligation bonds.
<br /> 151
<br />
|