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2015_Approved Budget and CIP.pdf
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2015_Approved Budget and CIP.pdf
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City of Roseville — 2015 Budget <br />The following graph depicts the remaining balance of the City's outstanding debt by year. <br />� <br />� <br />0 <br />� <br />$30 <br />$25 <br />$20 <br />$15 <br />$10 <br />$5 <br />$- <br />Year <br />Remaining Debt Service <br />2016 2018 2020 2022 2024 2026 2028 � <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 />Estimated market value $ 3,735,196,900 <br />Debt Limit (3% of total estimated market value) 112,055,907 <br />Total Outstanding Debt 30,780,000 <br />Less amount eXempted (905,000) <br />Total net debt applicable to limit $ 29,875,000 <br />% of allowable limit 27% <br />As shown in the table, the City is only at 27% of its allowable debt limit. <br />Debt Retirement Strategy <br />The City has maintains a relatively rapid debt retirement schedule to provide for a strong bond rating <br />(currently Aaa Moody's and AAA S&P) and far future debt capacity. The city's debt on a per capita <br />basis at the end of 2014 will be $878. <br />76 <br />
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