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Debt Limit <br />Total net debt applicable to limit <br />Legal debt margin <br />Total net debt applicable to the limit <br />as a percentage of debt limit <br />CITY OF MOUNDS VIEW <br />Legal Debt Margin Information <br />Last Ten Fiscal Years <br />Fiscal Year <br />2014 2015 2016 2017 <br />$ 25,658,889 <br />$ 26,893,746 <br />$ 28,055,178 <br />$ 29,919,492 <br />946,046 <br />1,663,692 <br />1,476,315 <br />6,802,815 <br />$ 24,712,843 <br />$ 25,230,054 <br />$ 26,578,863 <br />$ 23,116,677 <br />3.69% <br />6.19% <br />5.26% <br />22.74% <br />Note: Under state finance law, the City's outstanding general obligation debt should not exceed 3 percent of total market <br />value. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for repaying <br />general obligation bonds. Tax increment bonds are not subject to the debt limit; therefore, they are not included. <br />-107- <br />