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City of Roseville — 2014 Budget <br />The following graph depicts the remaining balance of the City's outstanding debt by year. <br />$35 <br />$30 <br />$25 <br />•° $20 <br />$15 <br />$10 <br />$5 <br />$- <br />Year <br />Remaining Debt Service <br />2015 2017 2019 2021 2023 <br />4 0- <br />2025 2027 <br />Legal Debt Limit <br />Minnesota State Statutes Section 475.51 generally limits net debt to no more than three percent of the <br />estimated market value of the taxable property within the municipality. However, a number of <br />categories of debt are not included within the net debt calculation. The City's debt limit is calculated as <br />follows: <br />As shown in the above table, the City is well below its allowable debt limit. <br />Debt Retirement Strategy <br />The City has established and is maintaining a relatively rapid debt retirement schedule to provide both a <br />better bond rating in the future (currently Aaa Moody's and AA S &P) and to provide for future debt <br />capacity. The city's debt on a per capita basis at the end of 2013 will be $961. <br />F <br />Estimated market value <br />$ 3,75 I ,962,400 <br />Debt Limit (3% of total estimated market value) <br />112,558,872 <br />Total Outstanding Debt <br />32,3 85,000 <br />Less amount exempted <br />(1,195,000) <br />Total net debt applicable to limit <br />$31,190,000 <br />As shown in the above table, the City is well below its allowable debt limit. <br />Debt Retirement Strategy <br />The City has established and is maintaining a relatively rapid debt retirement schedule to provide both a <br />better bond rating in the future (currently Aaa Moody's and AA S &P) and to provide for future debt <br />capacity. The city's debt on a per capita basis at the end of 2013 will be $961. <br />F <br />