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SLY._i !? Qp LNS _ DEBT
<br />Tax ill, Disk r i.c t
<br />Hennepin County
<br />I.S.D. No. 276
<br />I.S.D. No. 277
<br />I.S.D. No. 278
<br />I.S.D. No. 284
<br />ANTI No. 287
<br />Metropolitan Council
<br />Metropolitan Transit
<br />Commission
<br />1988/89 Adjusted
<br />City's
<br />Taxable Gross
<br />%
<br />Total
<br />Proportionate
<br />Tax Capacity
<br />In City
<br />G. - Q.._ _Debt
<br />$1,217,545,243
<br />1.18%
<br />$29,225,000
<br />1)
<br />$ 344,855
<br />46,371,038
<br />0.14%
<br />6,475,000
<br />2)
<br />9,065
<br />20,945,312
<br />22.56%
<br />0
<br />0
<br />18,112,924
<br />47.09%
<br />2,735,000
<br />3)
<br />1,287,912
<br />66,088,296
<br />1.57%
<br />30,669,148
<br />4)
<br />481,506
<br />784,797,312
<br />1.83%
<br />3,300,000
<br />5)
<br />60,390
<br />2,325,812,286
<br />0.62%
<br />53,620,000
<br />6)
<br />332,444
<br />2,137,697,519
<br />0.67%
<br />13,650,000
<br />7)
<br />_ 91,455
<br />City share of total overlapping debt $2.601.627
<br />1)Hennepin County has funds or hand for debt redemption in the amount of
<br />$7,399,416 resulting in a total net debt of $21,825,584. Hennepin County also
<br />has $28,000,000 Solid Waste Bonds outstanding which are payable entirely from
<br />user fees and $20,500,000 G.O. ImproNement Bonds outstanding which are payable
<br />entirely from special assessments. Since no taxes are being levied for payment
<br />of these issues, they have not been included in the City's proportionate share or
<br />in the debt ratios.
<br />2)I.S.D. No. 276 (Minnetonka) has funds on hand for debt redemption
<br />in the amount
<br />of $671,000 resulting in a total net debt of
<br />$5,804,000.
<br />3)I.S.D. No. 278 (Orono) has funds on hand
<br />for debt redemption in
<br />the amount of
<br />$5,000 resulting in a total net debt of $2,730,000.
<br />4)I.S.D. No. 284 (Wayzata) has funds on hand
<br />for debt redemption in
<br />the amount of
<br />$1,025,000 resulting in a total net debt of
<br />$29,644,148.
<br />5)Hennepin Technical Institute (Intermediate
<br />District No. 287) has
<br />funds on hand
<br />for debt redemption in the amount of $773,723
<br />resulting in a total net debt of
<br />$2,526,277.
<br />"The Metropolitan Council debt listed above
<br />consists of Regional
<br />Transit Board,
<br />Solid Waste and Park and Open Space Bonds
<br />for which it has $22,036,301
<br />funds on
<br />hand to pay debt service on the Bonds for a
<br />net debt outstanding of
<br />$31,583,699.
<br />In addition the Council also has $25h,015,QA1 net G. 0. Sanitary Sewer and
<br />(Sewer) Refunding Bonds outstanding which are expected to to paid entirely from
<br />sewer revenues and $48,350,000 domed stadium revenue bonds which were issued to
<br />finance construction of a domed stadium in downtown Minneapolis which are not
<br />general obligations of the City or the Metropolitan Council. The G. 0. Sanitary
<br />Sewer Bonds and the revenue debt have not been included here or in the debt
<br />ratios.
<br />7)The Metropolitan Transit Commission has funds on hand for debt redemption in
<br />the amount of $5,910,000 resu'ting in a total -let debt of $7,740,000.
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