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<br />CITY INDEBTEDNESS
<br />
<br />Legal Debt Limit and Margin
<br />
<br />Legal Debt Limit (2% of Estimated Market Value)
<br />Less: Outstanding Debt Subject to Limit
<br />
<br />Legal Debt Margin as of September 2, 1999
<br />
<br />$14,245,424
<br />(655,175)
<br />$13,590,249
<br />
<br />General Obligation Debt Supported by Taxes;
<br />
<br />Date Original
<br />of Issue Amount Purpose
<br />11-1-89 $480,000 Fire Equipment
<br />12-1-95 88,000 Equipment
<br />12-1-96 81,000 Equipment
<br />5-1-97 311,500 Equipment
<br />1-7 -98 225,000 Equipment
<br />12-1-98 113,550 Equipment
<br />Total
<br />
<br />Final
<br />Maturity
<br />
<br />Principal
<br />Outstanding
<br />As of 9-2-99
<br />
<br />2.1-2001
<br />. 2-1-2000
<br />2-1-2001
<br />2-1-2002
<br />8-1-2002
<br />2-1-2003
<br />
<br />$125,000
<br />22,000
<br />40,500
<br />211 ,125
<br />172,500
<br />84,050
<br />
<br />$655,175
<br />
<br />These issues are subject to the statutory debt limit.
<br />
<br />General Obligation Debt Supported Primarily by Special Assessments
<br />
<br /> Principal
<br />Date Original Final Outstanding
<br />of Issue Amount Purpose Maturity As of 9-2-99
<br />6-1-92 $2,350,000 Improvements 2-1-2008 $ 1,375,000
<br />1 0-1-93 2,400,000(a) Improvements 2-1-2004 910,000
<br />6-1-94 3,495,000 Improvements 2-1-2001 480 OOO(b)
<br />12-1-94 1,550,000 Improvements 2-1-2010 1 105' ooo(e)
<br /> , ,
<br />7 -1-96 500,000 Improvements 2-1-2004 375,000
<br />8-1-97 1,165,000 Improvements 2-1-2013 985,000
<br />12-1-98 1,375,000 Improvements 2-1-2009 1,375,000
<br />7 -1-99 5,725,000 Improvements 2-1-2015 5,725,000
<br />11-1-99 575,000 Improvement Refunding (this Issue) 2-1-2011 575.000
<br />Total $12,905,000
<br />
<br />(a) Represents the special assessment supported portion of the City's $3,523,350 General Obligation
<br />Permanent Improvement Revolving Fund Bonds, Series 1993B.
<br />
<br />(b) Excludes the 2002 thru 2011 maturities being refunded with the Bonds.
<br />
<br />(c) The City will deposit in escrow on October 18,1999, sufficient funds to defease this issue.
<br />
<br />-10-
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