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City of Elk River, Minnesota <br />Direct and Overlapping Governmental Activities Debt <br />December 31, 2021 <br />Percent <br />of Debt City's <br />Outstanding Applicable Share <br />Debt to City' of Debt <br />Direct Debt: <br />City of Elk River $ 63,364,308 100.00% $ 63,364,308 <br />Overlapping Debt: <br />Sherburne County 40,125,000 25.75% 10,332,414 <br />School District #728 302,775,000 29.21% 88,440,578 <br />Total overlapping debt 342,900,000 98,772,992 <br />Total direct and overlapping debt $ 406,264,308 $ 162,137,300 <br />Debt Ratios: <br />Ratio of debt per capita (25,835 population) $6,336 <br />Ratios of debt to taxable market value of $2,578,862,331 6.72% <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 />171 <br />