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125 <br />DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT <br />DECEMBER 31, 2017 <br />Percent <br />of Debt City's <br />Outstanding Applicable Share <br />Debt to City1 of Debt <br />Direct Debt: <br /> City of Elk River2 19,247,312$ 100.00%19,247,312$ <br />Overlapping Debt: <br /> Sherburne County 47,825,131 25.94%12,405,839 <br /> School District #728 229,745,000 30.93%71,060,129 <br />Total overlapping debt 277,570,131 83,465,968 <br />Total direct and overlapping debt 296,817,443$ 102,713,280$ <br />Debt Ratios: <br /> Ratio of debt per capita (24,650 population)$4,167 <br /> Ratios of debt to taxable market value of $1,929,048,470 5.32% <br />Source: Sherburne County and School District #728 <br />1 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 />CITY OF ELK RIVER, MINNESOTA