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<br />CITY INDEBTEDNESS Legal Debt Limit and Debt Margin* Legal Debt Limit (3% of 2018/19 Estimated Market Value) $ 65,496,045
<br />Less: Outstanding Debt Subject to Limit (12,324,485) Legal Debt Margin as of July 8, 2020 $ 53,171,560
<br />* The legal debt margin is referred to statutorily as the “Net Debt Limit” and may be increased by debt service
<br />funds and current revenues which are applicable to the payment of debt in the current fiscal year.
<br />NOTE: Certain types of debt are not subject to the legal debt limit. See Appendix III – Debt Limitations. General Obligation Debt Supported Solely by Taxes* Est. Principal
<br /> Date Original Final Outstanding
<br /> of Issue Amount Purpose Maturity As of 7-8-2020 11-15-12 $1,580,000 Improvements 2-1-2024 $ 650,000
<br /> 5-28-15 2,635,000 Street Reconstruction 2-1-2031 2,030,000
<br /> 8-25-15 963,000 Equipment Certificates 12-31-2020 201,000
<br /> 1-16-16 294,525 Capital Equipment 2-1-2026 136,950
<br /> 3-1-17 311,000 Equipment Certificates 12-31-2020 103,000
<br /> 2-1-18 303,900 Equipment Certificates 12-31-2021 200,000
<br /> 12-19-18 4,950,000 Street Reconstruction 2-1-2034 4,950,000
<br /> 2-1-19 388,535 Equipment Certificates 12-31-2022 388,535 Total $8,659,485
<br />* These issues are subject to the legal debt limit. General Obligation Special Assessment Debt Est. Principal
<br /> Date Original Final Outstanding
<br /> of Issue Amount Purpose Maturity As of 7-8-2020 7-15-13 $ 615,000 Taxable Improvements 2-1-2024 $ 255,000
<br /> 11-20-14 1,510,000 Improvements 2-1-2026 450,000
<br /> 11-23-16 1,975,000 Taxable Improvements Refunding 2-1-2021 510,000 Total $1,215,000 General Obligation Tax Increment Debt Est. Principal
<br /> Date Original Final Outstanding
<br /> of Issue Amount Purpose Maturity As of 7-8-2020 7-15-07 $4,215,000 Tax Increment 2-1-2024 $1,020,000
<br />General Obligation Tax Abatement Debt Est. Principal
<br /> Date Original Final Outstanding
<br /> of Issue Amount Purpose Maturity As of 7-8-2020 5-28-15 $460,000 Tax Abatement 2-1-2026 $ 280,000
<br /> 11-23-16 1,600,000 Tax Abatement Refunding 2-1-2023 870,000 Total $1,150,000
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