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CITY OF ELK RIVER,MINNESOTA <br /> DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT <br /> DECEMBER 31,2013 <br /> Percent <br /> of Debt City's <br /> Outstanding Applicable Share <br /> Debt to City` of Debt <br /> Direct Debt: <br /> City of Elk RivW $ 38,266,600 100.00% $ 38,266,600 <br /> Overlapping Debt. <br /> Sherburne County 18,782,321 26.30 4,939,750 <br /> School District#728 210,690,000 34.10 71,845,290 <br /> Total overlapping debt 229,472,321 76,785,040 <br /> Total direct and overlapping debt $ 267,738,921 $ 115,051,640 <br /> Debt Ratios: <br /> Ratio of debt per capita(23,273 population) $4,944 <br /> Ratios of debt to taxable market value of$1,617,569,400 7.11% <br /> Source. Sherburne County and School District#728 <br /> ' The percentage of overlapping debt applicable is estimated using taxable market property values. <br /> Applicable percentages were estimated by determining the portion of the county's and school <br /> district's taxable market value that is within the city's boundaries and dividing it by the county's <br /> and school district's total taxable market value. <br /> 2 Excludes debt payable from enterprise revenue. <br /> Note: Overlapping governments are those that coincide,at least in part,with the geographic <br /> boundaries of the city. This schedule estimates the portion of the outstanding debt of those <br /> overlapping governments that is borne by the residents and business of the City of Elk River. <br /> This process recognizes that,when considering the city s ability to issue and repay <br /> long-term debt,the entire debt burden borne by the residents and businesses should be taken <br /> into account. However,this does not imply that every taxpayer is a resident,and therefore <br /> responsible for repaying the debt of each overlapping government. <br /> 106 <br />