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CITY OF ELK RIVER <br />DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT <br />DECEMBER 31, 2019 <br />Percent <br />of Debt <br />City's <br />Outstanding <br />Applicable <br />Share <br />Debt <br />to City' <br />of Debt <br />Direct Debt: <br />City of Elk River` <br />$ 52,191,113 <br />100.00% <br />$ 52,191,113 <br />Overlapping Debt: <br />Sherburne County <br />43,200,000 <br />25.84% <br />11,163,056 <br />School District#728 <br />207,155,000 <br />30.10% <br />62,353,655 <br />Total overlapping debt <br />250,355,000 <br />73,516,711 <br />Total direct and overlapping debt <br />$ 302,546,113 <br />$ 125,707,824 <br />Debt Ratios: <br />Ratio of debt per capita (25,330 population) <br />Ratios of debt to taxable market value of $2,239,636,472 <br />Source: Sherburne County and School District #728 <br />$4,963 <br />5.61 % <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 />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 />(134) <br />