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CITY OF RAMSEY <br />Computation of Direct and Overlapping <br />Bonded Debt — General Obligation Bonds <br />December 31, 2003 <br />Table 11 <br />Gross General <br />Obligation <br />Bonded Debt Debt Applicable to City <br />Outstanding (1) Percent Amount <br />Direct debt <br />City of Ramsey $ 12,728,000 (2) 100.0 % $ 12,728,000 <br />Overlapping debt <br />Anoka County 58,867,424 5.9 3,473,178 <br />ISD No. 11 (Anoka - Hennepin) 173,017,208 7.7 13,322,325 <br />ISD No. 728 (Elk River) 148,434,096 5.2 7,718,573 <br />Metropolitan Council 24,889,167 (3) 0.6 149,335 <br />Metropolitan Transit Commission 117,574,000 0.7 823,018 <br />Total overlapping debt 522,781,895 25,486,429 <br />Total direct and <br />overlapping debt <br />$ 535,509,895 $ 38,214,429 <br />(1) Excludes general obligation debt supported by revenues, revenue debt, and tax and aid anticipation certificates. <br />(2) Includes the City's Lease Revenue Bonds due to the nature of the governmental type revenues used to support this debt. <br />(3) Metropolitan Council also has outstanding $285,045,000 in general obligation sanitary sewer bonds and loans which <br />are supported by sewer system revenues. <br />-113- <br />