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City's debt position. Debt statistics for the City as of Decem-
<br />ber 31, 1989, as shown in Table 5, are as follows:
<br />Percent ot Percent of Debt Per
<br />Amount Tax Capacity �arket Value Capita
<br />Net Direct
<br />Debt $30,899,125 66.89 2.04 $ 896.30
<br />Net Over-
<br />Lapping
<br />Debt
<br />Total 1989
<br />11,056,364
<br />541,955,489
<br />2.48
<br />69.37
<br />.72
<br />2.76
<br />S S32Q.72
<br />$ 1,217.02
<br />Net direct debt is based on Roseville's outstanding indebtedness,
<br />less cash and investments on hand. Net overlapping debt is
<br />Roseville's pro-rata share of bonded indebtedness for the county,
<br />school districts, and other governmental agencies that levy taxes
<br />within the City.
<br />Under state law, the City's 1989 debt limit is $30,778,020 of
<br />which the City has $30,482,808 available. Much of the debt the
<br />City has issued is outside of the computation and does not apply
<br />to the limitation.
<br />The City's bond rating on December 31, 1989, is as follows:
<br />City's Bonds
<br />Moody's
<br />Investor
<br />Service
<br />Aa-1
<br />Standard
<br />&
<br />Poor's
<br />AA-
<br />Public Improvement special assessment bonds in the amount of
<br />$3,500,000 were issued in 1989. No refundings or other indebt-
<br />edness were issued in 1989. The City did retire $1,735,000 of
<br />bonds, leaving an outstanding indebtedness'on December 31, 1989
<br />of $41,695,000. Following is a tabulation of bonds issued since
<br />January 1, 1972 and still outstanding.
<br />Date of
<br />Issue
<br />3-1-89
<br />3-1-88
<br />12-1-55
<br />12-1-85
<br />12-1-85
<br />11-1-85
<br />6-1-83
<br />9-1-80
<br />11-1-77
<br />Amount
<br />$ 3,500,000
<br />4,500,000
<br />2,225,000
<br />14,300,000
<br />8,420,000
<br />2,885,000
<br />5,125,000
<br />2,415,000
<br />1,600,000
<br />Average
<br />Life In
<br />Years
<br />9.16
<br />9.50
<br />13.75
<br />13.75
<br />14.43
<br />10.185
<br />8.171
<br />11.055
<br />11.075
<br />14
<br />Net _
<br />Interest
<br />Rate
<br />7.07�
<br />6.560
<br />8.06g
<br />8.06�
<br />8.09g
<br />8.17g
<br />8.41g
<br />7.63�
<br />5.03�
<br />Interest Cost
<br />Per Borrowed
<br />Dollar
<br />.62
<br />.61
<br />.84
<br />1.14
<br />1.15
<br />.82
<br />.69
<br />.84
<br />.56
<br />
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