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CITY OF LAKE ELMO, MINNESOTA <br />DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT <br />AS OF DECEMBER 31, 2023 <br /> <br /> <br />122 <br /> <br /> <br />Estimated <br />Estimated Share of <br />Debt Percentage Overlapping <br />Outstanding Applicable*Debt <br />Overlapping Debt: <br />Independent School District # 622 427,615,000$ (1)11.3%48,246,736$ <br />Independent School District # 832 45,045,000 (1)2.3%1,023,702 <br />Independent School District # 834 74,620,000 (1)15.0%11,204,552 <br />Washington County 98,060,000 (1)6.0%5,910,269 <br />Metropolitan Council 1,694,829,000 (1)0.1%1,170,806 <br />Total Overlapping Debt 67,556,065 <br />City Direct Debt 32,746,965$ 100%32,746,965 <br />Total Direct and Overlapping Debt 100,303,030$ <br />Sources: Taxable value data used to estimate applicable percentages provided by Washington County. <br />Debt outstanding data provided by each governmental unit. <br />*For debt repaid with property taxes,the percentage of overlapping debt applicable is estimated using taxable assessed <br />property values.Applicable percentages were estimated by determining the portion of another governmental unit's taxable <br />assessed value that is within the City's boundaries and dividing it by each unit's total taxable assessed value. <br />Overlapping governments are those that coincide,at least in part,with the geographic boundaries of the City.This schedule <br />estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses <br />of the City.This process recognizes that,when considering the City's ability to issue and repay long-term debt,the entire <br />debt burden borne by the residents and businesses should be taken into account.However,this does not imply that every <br />taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping government.