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CITY OF LINO LAKES, MINNESOTA <br />— <br />COMPUTATION OF LEGAL DEBT MARGIN <br />December 31, 2004 <br />(Unaudited) <br />Table 10 <br />2004 2003 <br />Market Value $ 1,430,803,500 $ 1,251,221,800 <br />Debt Limit Percentage 2% 2% <br />_ Debt Limit 28,616,070 25,024,436 <br />Total Bonded Debt 20,049,000 21,840,000 <br />Less: <br />Special Assessment Bonds (11,580,000) (12,840,000) <br />Revenue Bonds - Enterprise Fund (2,705,000) (2,970,000) <br />Public Project Revenue Bonds (595,000) (680,000) <br />Total Debt Applicable to Debt Limit <br />5,169,000 5,350,000 <br />Legal Debt Margin $ 23,447,070 $ 19,674,436 <br />92 <br />