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Ta6lE 8 (Continued) <br />CITY OP ROSEVILLE, MINNESOTA <br />COMPUTATION �F L�GAL DEBT P9ARGIN (CONTIV[JF,D) <br />DECEMBER 31, 1980 <br />Note (A) <br />M. S. A. Section 475.53 et seq. Limit on Net <br />'� "Subdivision 1. Generally. Except as otherwise provided in section 4?5.51, <br />.. no municipality, escept a school district or a city of the first class, sha11 <br />incur or be subject to a net debt in excess of 6.67 percent of the assessed <br />��. value." � <br />Noce (B) <br />M. S. A. Section 475.51 Definitions <br />"Subdivision 4, 'Net Debt' means the anounc remaining after deducting from <br />its gross debt the amount of current revenues which are applicable within <br />the current fiscal year to the pa�ment of any debt, and the aggregate of the <br />principal oi the�following: <br />, (1) Obligations issued for improvements which are payable caholly or partly <br />frc�m tL�e proceeds oL speci.�l -._� �i ni;; ..� unon �repe�-tv epc..'_,; l y <br />' benefited th�reby, including those whic'ti are generai obligations of the <br />municipality issuing them, if the municipality is entitled to reimbursement <br />in whole or in part from the preceeds of the speciz7. assessments. <br />(2) Warrants or orders having no definite or iixed maturity. <br />(3) Obligations payable wholly from the income fror� revenue producing <br />conveniences. <br />(4) Ob].igations issued to create or maincain a permanent improvement <br />revolving fund. <br />(5) Obligations issued for the acquisition, and betterment of pu6lic <br />waterworks systems, and public lighting, heating or power systems, and of <br />any combination thereof or for any other public convenience from which a <br />revenue is or may be derived. � <br />(6) Debt service loans and capilal loans made to a school district under <br />the provisions oL sections 124.4? and 124.43. <br />(7) Amount of all money and the face value of a11 securities held as a <br />debt service fund for the extinguishment of obligations ot!�er than those <br />deductible under this subdivision. <br />(8) A11 other obligations which under the provisions of law authori.zing <br />their issuance are not to be included in computing the net debt of the <br />municipality." <br />93 <br />