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Ten of the Largest Taxpayers in the City <br />Taxpayer <br />Target Corporation <br />Xcel Energy <br />Lino Lakes Realty LLC <br />Molin Concrete Products Co. <br />Taylor Corporation <br />Kohl's Department Store <br />Gargaro Properties Inc. <br />Marmon/Keystone Corp. <br />Minnegasco Inc. <br />Lino Lakes Business Center LLC <br />Total <br />Type of Property <br />Retail <br />Utility <br />Commercial/Industrial <br />Concrete Products <br />Promotional/Printing Products <br />Retail <br />Commercial/Industrial <br />Commercial/Industrial <br />Utility <br />Industrial <br />Represents 5.8% of the City's 2014/15 adjusted taxable net tax capacity. <br />CITY INDEBTEDNESS <br />Legal Debt Limit and Debt Margin* <br />2014/15 Net <br />Tax Capacity <br />$ 201,790 <br />186,413 <br />175,742 <br />106,606 <br />97,498 <br />96,836 <br />85,130 <br />73,342 <br />69,458 <br />56,928 <br />$1,149,743* <br />Legal Debt Limit (3% of 2014/15 Estimated Market Value) $53,954,448 <br />Less: Outstanding Debt Subject to Limit (6,466,000) <br />Legal Debt Margin as of May 28, 2015 $47,488,448 <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 />NOTES: Certain types of debt are not subject to the legal debt limit. See Appendix III — Debt Limitations. <br />The 2013 Minnesota Legislature clarified the definition of estimated market value and established it as <br />the basis for the calculation of the Net Debt Limit. A large contributing factor to the change was to <br />offset the effect of the Market Value Homestead Exclusion implemented by the 2012 Minnesota <br />Legislature, which had a significant impact on taxable market values. <br />General Obligation Debt Supported Solely by Taxes* <br />Date Original <br />of Issue Amount Purpose <br />11-1-06 $2,990,000 <br />2-1-12 150,000 <br />11-15-12 1,580,000 <br />2-1-13 193,000 <br />2-15-14 495,000 <br />5-28-15 3,150,000 <br />Total <br />CIP Refunding <br />Equipment Certificates <br />Improvements <br />Equipment Certificates <br />Equipment Certificates <br />Street Reconstruction (the Street <br />Reconstruction Portion) <br />* These issues are subject to the legal debt limit. <br />-9- <br />Est. Principal <br />Final Outstanding <br />Maturity As of 5-28-15 <br />2-1-2018 $1,210,000 <br />12-31-2015 51,000 <br />2-1-2024 1,430,000 <br />12-31-2016 130,000 <br />12-31-2017 495,000 <br />2-1-2031 3,150,000 <br />$6,466,000 <br />