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CITY OF LAKE ELMO, MINNESOTA DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT AS OF DECEMBER 31, 2024 124 Estimated Estimated Share of Debt Percentage Overlapping Outstanding Applicable*Debt Overlapping Debt: Independent School District # 622 167,920,089$ (1)10.8%18,139,325$ Independent School District # 832 41,390,000 (1)2.1%882,286 Independent School District # 834 167,695,000 (1)15.2%25,492,133 Washington County 112,695,000 (1)6.0%6,792,349 Metropolitan Council 1,558,153,207 (1)0.1%1,088,311 Total Overlapping Debt 52,394,404 City Direct Debt $32,915,000 100%32,915,000 Total Direct and Overlapping Debt 85,309,404$ Sources: Taxable value data used to estimate applicable percentages provided by Washington County. Debt outstanding data provided by each governmental unit. *For debt repaid with property taxes,the percentage of overlapping debt applicable is estimated using taxable assessed property values.Applicable percentages were estimated by determining the portion of another governmental unit's taxable assessed value that is within the City's boundaries and dividing it by each unit's total taxable assessed value. Overlapping governments are those that coincide,at least in part,with the geographic boundaries of the City.This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the City.This process recognizes that,when considering the City's ability to issue and repay long-term debt,the entire debt burden borne by the residents and businesses should be taken into account.However,this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping government.