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<br />175 <br />Direct and Overlapping Governmental Activities Debt <br />December 31, 2024 <br />Table 13 <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 55,204,967$ 100.00%55,204,967$ <br />Overlapping Debt: <br /> Sherburne County 36,194,597 25.87%9,365,161 <br /> School District #728 263,240,000 28.48%74,977,320 <br />Total overlapping debt 299,434,597 84,342,481 <br />Total direct and overlapping debt 354,639,564$ 139,547,448$ <br />Debt Ratios: <br /> Ratio of debt per capita (27,001 population)$5,071 <br /> Ratios of debt to taxable market value of $3,826,433,595 3.65% <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 />Source: Sherburne County and School District #728 <br />City of Elk River <br /> <br />Page 365 of 637