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CITY OF OROT40, MINNESOTA
<br />Ratio of Net General Bonded Debt to
<br />Assessed Value or Tax Capacity and Net
<br />Bonded Debt Per Capita
<br />«
<br />• I
<br />Fiscal
<br />Year Population (2)
<br />Assessed
<br />Value
<br />(in 1,000s)
<br />Gross
<br />Bonded
<br />Debt(l)
<br />Debt
<br />Service
<br />Funds
<br />Available (I)
<br />Net
<br />Bonded
<br />Debt
<br />1987 7,212 $ 103,552 $ 1,504,562 $ 1,158,862 $ 345,700
<br />1988 7,284 107,415 1,350,789 1,035,242 315,547
<br />1989 7,379 14,352 (4)1,207,220 867,436 339,784
<br />1990 7.213 (5)12,892 1,010,710 694,251 316,459
<br />1991 7,303 14,379 4,811,055 928,917 3,882,138
<br />1992 7,365 13,165 5,561,340 1,2.53,423 4,307,917
<br />1993 7,330 11,739 5,734,084 1,518,649 4,215,435
<br />1994 7,380 12,169 5,362,830 1,349,726 4,013,104
<br />1995 7,476 12,912 5,142,297 1,361,687 3,780,610
<br />1996 7,530 •14,100 4,989,319 1,597,170 3,392,149
<br />»I
<br />Includes bonds recorded in the General Long-Term Debt Account Group. Gross bonded
<br />debt has bee ; '-siaced by Debt Service deferred special assessments receivable in order to
<br />reflect onh ax supported debt burden. For purposes of this analysis, Debt Service Funds
<br />available j not include individual fund balance amounts in excess of the related individual
<br />bond issue amount included in gross bonded debt.
<br />Population from Metropolitan Council estimate as of April 1, annually.
<br />Rating history from Moody Investors Service.
<br />Beginning with fiscal year 1989, the terminology for Assessed Valuations is no longer
<br />used. Tax Capacity replaces Assessed Valuations and is determined in the same manner
<br />except using smaller percentages for each property class.
<br />Federal census.
<br />The rating for the 1991 Public Facilities Revenue Bonds issued by the City of Orono's
<br />Housing and Redevelopment Authority is Aa, as the City is making lease purcliase
<br />payments equal to the annual debt service requirement. While the intent is to continu.i the
<br />annual payments and budget annual appropriations, the City may terminate the lease as
<br />provided in the lease-purchase contract.
<br />Estimate.
<br />t • t
<br />-115-
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