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� CITY OF ROSEVILLG, D7INNESOTA Table 8(Continued) COb1PUTATION OF LEGAL DEBT hiARGIN (CONTINUHD) DECE�iBF.R 31, 1983 Note (A) M.S.A. Section 475.53 et seq. Limit on Deb "Subdivision 1. Generally. Except as other�vise provided in Section 475.51, no municipality, except a school district or a city of the first class, shall incur or be subject to a net debt in excess of 6.b7 percent of the assessed value." Note (B) D1.S.A. Section 475.51 Definitions "Subdivision 4. 'Net Debt' means the amount remaining after deducting from its gross debt the amount o£ current revenues which are applicable within the current £iscal year to the payment of any debt, and the aggregate of the principal of the following: (1) Obligations issued for improvements which are payable wholly or partiy from the proceeds of special assessments levied upon property specially benefited thereby, including those wliich are general obligations of the municipality issuing them, if the municipality is entitled to reimUursement in whole or in part from the proceeds of the special assessments. (2) 1Varrants or orders having no definite or fixed maturity. (3) Obligations payabie wholly from tlie income from revenue producing conveniences. (4) Obligations issued to create or maintain a permanent improvement revolving fund. (S) Obligations issued for the acquisition, and betterment of public waterworks systems, and public lighting, heating, or power systems, and of any combination tnereof or for any other public convenience from which a �- revenue is or may be derived. (6) Amount of all money and the £ace value of all securities held as a debt service fund for the extinguishment of obligations other than those deductibie under this suUdivision. [7) All other obligations which under tlie provisions of law au Uiorizing their issuance are not to be included in computing the net debt of the municipality."