Laserfiche WebLink
<br />- 11 - <br />Ten of the Largest Taxpayers in the City 2019/20 Net <br />Taxpayer Type of Property Tax Capacity <br /> <br />Great River Energy Utility $ 999,203 <br />JPM Capital Corporation Commercial 371,282 <br />Target Corporation Commercial 255,248 <br />Bre Retail Residual Owner 5 LLC Commercial 233,986 <br />Minnegasco Property Accounting Utility 204,584 <br />Wal Mart Stores, Inc. Commercial 196,186 <br />Menards, Inc. Commercial 139,400 <br />Broadstone STI Minnesota LLC Commercial 137,578 <br />Home Depot USA Inc Commercial 110,342 <br />Meritex Elk River LLC Commercial 105,946 <br /> <br />Total $2,753,755* <br /> <br />* Great River Energy represents 3.6% of the City's 2019/20 adjusted taxable net tax capacity. The remaining nine <br />taxpayers represent 6.3% of the City's 2019/20 adjusted taxable net tax capacity. <br /> <br /> CITY INDEBTEDNESS <br /> <br /> Legal Debt Limit and Debt Margin* <br /> <br />Legal Debt Limit (3% of 2019/20 Estimated Market Value) $76,424,256 <br />Less: Outstanding Debt Subject to Limit (24,646,669) <br /> <br />Legal Debt Margin as of May 20, 2021 $51,777,587 <br /> <br />* The legal debt margin is referred to statutorily as the “Net Debt Limit” and may be increased by debt service funds <br />and current revenues which are applicable to the payment of debt in the current fiscal year. <br /> <br />NOTE: Certain types of debt are not subject to the legal debt limit. See Appendix III – Debt Limitations. <br /> General Obligation Debt Supported Solely by Taxes* <br /> <br /> Est. Principal <br /> Date Original Final Outstanding <br /> of Issue Amount Purpose Maturity As of 6-10-21 <br /> <br /> 12-29-20 9,435,000 Capital Improvements 2-1-2042 $ 9,435,000 <br /> 12-29-20 5,340,000 Capital Improvements 2-1-2033 5,340,000 <br /> 5-20-21 4,805,000 Capital Improvements 2-1-2042 4,805,000 <br /> <br /> Total $19,580,000 <br /> <br />* These issues are subject to the legal debt limit. <br />120