Legal Debt Margin (1)
(As of October 8, 2004) |
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Actual
2003 EAV
|
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Estimated
2009 EAV
|
Equalized Assessed Valuation |
$ |
589,819,944 |
$ |
907,463,136 |
Statutory Debt Limitation (5.00% of EAV) |
|
29,490,997 |
|
45,373,157 |
| |
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|
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General Obligation Debt: |
|
|
|
|
Series 2001 |
$ |
9,915,000 |
$ |
9,915,000 |
Series 2002A |
|
440,000 |
|
- |
Series 2002B |
|
8,410,000 |
|
6,895,000 |
Total |
$ |
18,765,000 |
$ |
16,810,000 |
| |
|
|
|
|
| |
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Total Applicable Debt |
|
18,765,000 |
|
16,810,000 |
Legal Debt Margin |
$ |
10,725,997 |
$ |
28,563,157 |
|