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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2008 <br />Note 16 LEGAL DEBT MARGIN <br />The City is subject to a statutory limitation by the State of Minnesota for bonded indebtedness payable <br />principally from property taxes. The City's legal debt margin for 2008 is computed as follows: <br />Market value: <br />Ramsey County <br />Hennepin County <br />Total market value <br />Debt limit percentage <br />Debt limit <br />Amount of debt applicable to debt limit: <br />Total bonded debt <br />Less nonapplicable debt: <br />Revenue bonds (liquor, water, sewer, storm sewer) <br />State aid street bonds <br />Tax abatement bonds <br />Improvement bonds <br />Tax increment bonds <br />Cash and investments in applicable debt <br />service funds <br />Total amount of debt applicable to debt limit <br />Legal debt margin <br />78 <br />December 31, <br />2008 <br />$310,710,500 <br />559,112,800 <br />869,823,300 <br />3.00% <br />26,094,699 <br />32,115,000 <br />(3,110,000) <br />(460,000) <br />(400,000) <br />(11,105,000) <br />(10,375,000) <br />(923,151) <br />5,741,849 <br />$20,352,850 <br />