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Under state law, the City's 1995 debt lunit is $30,347,366 of which the City has 100% availabie margin. Much of the debt the Ciry has issued is ouuide of the computauon and dces not apply to the limitation. The City's bond rating on December 31, 1995, is as follows: Moody's Investor Services Siandard & Poor's City's Bonds Aa AA- Public Improvement bonds in the amount of $2,500,000 were issued in 1995. In addition, ' $6,500,000 of general obligation ta�c increment bonds were issued in 1995. The City retired ' $2,190,000 of bonds, leaving an outstanding indebtedness on December 31, 1995 of $44,405,000. Following is a tabulauon of bonds issued since January 1, 1992 and still outstanding. Date nf Issne 5-15-95 5-15-95 3-01-94 3-Oi-94 2-i1-93 2-11-93 2-01-92 %E1j6Ir� Cash Management � - ��-� •. AmQ31IIt $ 6,500,000 2>500,000 8>640,000 2,900,000 2,300,000 1,975,000 20,035>000 2,200,000 Average Life in Y�arc 8.88 8.86 634 8.88 8.93 5.63 �� 9.05 Net IIIteirstBate 534% 5.34% 4.21 % 4.55% 5.15% 4.49% 5.85% 5.94% Interest Cost Per Borrowed iki lar .4� .47 .26 .40 .46 .24 52 52 The City has written policies that restrict investment of the City's operating funds to U.S. Treasuries, Agencies, and Certificates of Deposit in Minnesota institutions. (See Note 3 in the footnotes for further disclosure). Because of the conservative investment policies, and practices, the City makes no investments in derivative products, mutual funds, collateralized mortgage obligations or other high risk securities. As a result, the City has avoided the controversial investment practices encountered by some cities within the metro area and the U.S. 15