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Debt statistics for the City as of December 31, 1994, as shown in Table 9, aze as follows: <br />Net Direct Debt <br />Net Overlapping Debt <br />Total 1994 <br />Tota( 1993 <br />Amount <br />$31,889,077 <br />$29.639.182 <br />$61.528.259 <br />$55,266,518 <br />Percent of Percent of <br />Tax Capacitv Market Value <br />84.05 % 1.92 % <br />78.12 0 1.78 0 <br />162.17 % 3.70 0 <br />143.77 0 3.34 % <br />Debt Per <br />Ca ita <br />$ 952.28 <br />885.10 <br />1 837.38 <br />1 648.66 <br />Net direct debt is based on Roseville's outstanding indebtedness, less cash and investments on <br />hand. Net overlapping debt is Roseville's pro-rata shaze of bonded indebtedness for the counry, <br />school disuicts, and other governmental agencies that levy ta�ces within the Ciry. <br />! Under state law, the Ciry's 1994 debt limit is $33,226,944 of which the City has 99% available <br />' margin. Much of the debt the City has issued is outside of the computation and dces not apply <br />to the limitation. <br />The Ciry's bond rating on December 31, 1994, is as follows: <br />Moody's <br />Investor <br />Service <br />Standazd <br />& <br />Poor's <br />City's Bonds Aal AA- <br />Public Improvement bonds in the amount of $2,900,000 were issued in 1994. In addition, <br />$8,640,000 of general obligation public improvement bonds were refunded in 1994. The City <br />retired $1,305,000 of bonds, leaving an outstanding indebtedness on December 31, 1994 of <br />$37,595,000. Foliowing is a tabulation of bonds issued since January l, 1985 and still <br />outstanding. <br />Date of <br />Issue <br />3-01-94 <br />3-01-94 <br />2-i1-93 <br />Amount <br />$ 8>640,000 <br />2>900,000 <br />2,300>000 <br />Average <br />Life In <br />Years <br />6.34 <br />8.88 <br />8.93 <br />15 <br />Net <br />Interest <br />Rate <br />4.21 % <br />4.55 % <br />5.15 % <br />Interest Cost <br />Per Borrowed <br />Dollaz <br />.26 <br />.40 <br />.46 <br />