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CITY OF ELK RIVER, MINNESOTA <br />COMPUTATION OF DIRECT AND OVERLAPPING DEBT <br />DECEMBER 31, 2006 <br />Percent <br />of DebtCity's <br />OutstandingApplicableShare <br />1 <br />Debtto Cityof Debt <br />Direct Debt: <br /> City of Elk River36,307,379$ 100.00%36,307,379$ <br />Overlapping Debt: <br /> Sherburne County24,950,000 25.69 6,408,807 <br /> School District #728212,169,171 36.92 78,331,797 <br />Total overlapping debt237,119,171 84,740,604 <br />Total direct and overlapping debt273,426,550$ 121,047,983$ <br />Debt Ratios: <br /> Ratio of debt per capita (22,500 population)$5,380 <br /> Ratios of debt to estimated taxable market value of $1,786,411,9006.78% <br />Source: Sherburne County and School District #728 <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 />1 <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 />93 <br /> <br />