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Direct Debt Issuance Limitation <br />• e of direct eneral obligation debt in an amount not to <br />The City is limited to the issuanc g <br />exceed 2% of the assessed valuation. The Bonds being issued herein are not subject to the 2% <br />debt limitation. <br />$ b25,471,912 <br />Assessed Valuation -1993 Payable 1994 <br />$ 12,509,438 <br />Statutory Limitation - 2% Thereof _0_ <br />Direct Debt of the City <br />Issuance Margin $ 12,509,438 <br />Per Capita and Debt Ratio Analysis 105,511 <br />Population -1990 $ 625,471,912 <br />Assessed Valuation <br /> Ratio Of <br /> Debt Debt/Assessed <br /> Amount Per Capita Valuation <br />Description <br /> <br />Total Lease Obligation Debt 29,110,000 <br />$ $ 275.90 <br /> <br />48 <br />398 4.65% <br />6.73 <br />• Total Overlapping and Underlying Debt 42,044,297 . <br /> 54,297 <br />1 <br />$ 71 $ 674.38 11.38% <br />Total <br />_ <br />, <br />________ <br />Statement of City Utility Revenue Debt <br />The City of South Bend owns and operates the municipal water and sewer utilities which <br />have heretofore issued and have outstanding the following revenue bonds. All such revenue <br />bonds constitute a lien e Cit e rRevenue bonds sued and outstan'du1g as of December 31 t 1993 <br />direct obligations of th y <br />~a~ere as follows: <br />Final <br />Utili Maturit <br />Sewage Works -1993 2009 <br />Waterworks -1993 2009 <br />Total <br />Outstanding <br />December 31,1993 <br />$ 9,495,000 <br />5,100,000 <br />$ 14,595,000 <br /> <br />