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Certified Net Assessed Valuation - 2016 Payable 2017 $2,317,096,240 <br />2% of One-Third Thereof 15,447,308 <br />Less Bonds subject to limitation: <br />Economic Development Income Tax Bonds of 2015 (5,295,000) <br />Issuance Margin $10,152,308 <br />Population - 2010 101,168 <br />Certified Net Assessed Valuation - 2016 Payable 2017 $2,317,096,240 <br />Ratio of <br />Debt Per Debt/Assessed <br />Description Amount Capita Valuation <br />Total Direct Debt and Lease Obligations $220,791,335 $2,182.42 9.53% <br />Total Overlapping and Underlying Direct Debt and Lease Obligations 75,852,127 749.76 3.27% <br />Totals $296,643,462 $2,932.18 12.80% <br />CITY OF SOUTH BEND <br />6 <br />The City is limited to the issuance of direct general obligation debt in an amount not to exceed 2% of one-third of the <br />assessed valuation. <br />PER CAPITA AND DEBT RATIO ANALYSIS <br />DIRECT DEBT ISSUANCE LIMITATION (CITY OF SOUTH BEND)