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CITY OF SOUTH BEND, INDIANA
<br />COMPUTATION OF DIRECT AND OVERLAPPING DEBT
<br />December 31, 2006
<br />Percentage Amount Ratio of Debt/ Ratio of Debt/
<br />Gross Applicable to Applicable to Debt Per Assessted Net
<br />Debt South Bend South Bend Capita Value Earnings
<br />Direct Debt•
<br />City of South Bend
<br />General Obligation Bonds
<br />Revenue Bonds - Govemmental Activities
<br />Revenue Bonds -Business-Type Activities
<br />Mortgage Bonds - Govemmental Activities
<br />Mortgage Bonds -Business-Type Activities
<br />Notes Payable -Governmental Activities
<br />Notes Payable -Business-Type Activities
<br />Capital Leases -Governmental Activities
<br />Capital Leases -Business-Type Activities
<br />,~ Total Direct Debt of Primary Government
<br />w
<br />Overlappine Debt (3)(4)
<br />St. Joseph County
<br />St. Joseph County Public Library
<br />South Bend Community Schools
<br />Penn-Hams-Madison School Corp.
<br />Mishawaka Penn Township Public Library
<br />Total Overlapping Debt
<br />Total Direct and Overlapping Debt
<br />$ 0 100.00% $ 0
<br />82,445,000 100.00% 82,445,000
<br />44,345,000 100.00% 44,345,000
<br />27,337,124 100.00% 27,337,124
<br />972,315 100.00% 972,315
<br />11,758,552 100.00% 11,758,552
<br />19,258,433 100.00% 19,258,433
<br />3,533,187 100.00% 3,533,187
<br />1,523,594 100.00% 1,523,594
<br /> 191,173,205 $ 1,812.17 6.7% 3.1%
<br />$ 76,040,000 30.78% 23,405,112
<br />2,700,000 51.63% 1,394,010
<br />212,648,369 54.42% 115,723,242
<br />114,439,995 2.47% 2,826,668
<br />9,160,000 2.94% 269,304
<br /> 143,618,336 1,361.39 5.1% 2.3%
<br />
<br /> $ 334,791,541 $ 3,173.56 11.8% 5.4%
<br />Ratio Factors
<br />Population - 2004 US Census Bureau 105,494 (1)
<br />Net Assessed Valuation (2004 payable 2005) $ 2,835,265,890
<br />South Bend Metropolitan Statistical Area Net Earnings $ 6,250,000,000 (2)
<br />(1) Population statistics obtained from the U.S. Census Bureau (http:/quickfacts.census.gov). Most recent estimate was for 2003.
<br />(2) Net earnings information obtained from STATS Indiana Website (www.stats.indiana.edu). Updated through 2004. Projected through 2006.
<br />(3) Overlapping debt information obtained from Crowe Chizek and Company, LLP
<br />(4) Overlapping debt percentages are based the net assessed value of South Bend properties in proportion to the total net assessed value.
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