Laserfiche WebLink
Legal Debt <br />Minnesota State Statutes Section 475.5 1 generally limits net debt to no more than two percent of <br />the estimated market value of the taxable property within the municipality.A number of <br />categories of debt are not included within the net debt calculation. The City’s current <br />outstanding debt is composed entirely of debt paid at least partially from special assessments <br />levied on benefiting properties or from tax increments. Both categories are excluded from the <br />debt limitation. <br />The City currently has a computed debt margin is 11,168, with zero debt outstanding is <br />applicable to the debt margin. No debt that would come within the debt margin statutes is <br />planned to be issued in 1. <br />Debt Retirement Summary <br />The city has established and is maintaining a rapid debt retirement schedule to provide both a <br />better bond rating in the future (currently Moody’s and AA- S&P) and to provide for future <br />referendum capacity .Below is a chart showing the projected debt retirement schedule as of the <br />budget year of 2002. <br />Debt Retirement Schedule <br /> Improvement Debt <br />The city’s debt on a per capita basis at the end of 2001 will be $585.The debt repayment <br />schedule has been on a very rapid pace and the city is now well below the median debt level as <br />established by the rating agencies.The median level is currently at $800 for cities the size of <br />Roseville. <br />Debt Per Capita <br />  <br />Roseville Median <br />III-53 <br /> <br />