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1994-06-21 Minutes
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1994-06-21 Minutes
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Tax Increment Revenue Debt <br />Additional debt which is not an obligation of the City as of December 31,1993 includes the <br />• <br />followin <br />g <br /> Original Final Outstanding <br />Issue Amount Maturi 12 31 93 Purpose <br />1985 000 <br />200 <br />$4 2/01/03 $ 750,000 (1) Tax Increment Revenue Bonds <br />1986 , <br />, <br />000 <br />750 <br />1 2/01/04 350,000 (1) Tax Increment Revenue Bonds <br />1988 , <br />, <br />000 <br />800 <br />1 2/01/05 1,775,000 Tax Increment Revenue Bonds <br />1992 , <br />, <br />000 <br />760 <br />4 2/01/04 4,760,000 ds <br />ven <br />1992 , <br />, <br />2,600,000 2/01/13 2,600,000 (2) ue Bond <br />Tax Increment Re <br />Total $ 10,235,000 <br />(1} Bonds not refunded by 1992 Tax Increment Refunding Bonds. <br />(2) A Bond Anticipation Note. is presently outstanding with respect to this issue. <br /> Debt Issues <br />The City's Redevelopment Authority issued Lease Rental Revenue Bonds of 1994 in the <br />amount of $7,160,000 on May 24, 1994. This issuance is scheduled to close on June 15,1994. The <br />• . City does not anticipate the issuance of additional debt in 1994. <br />Analysi s of Assessed Valuation <br />Assessed valuation of real and pers onal property represents approximately one-third of true <br />tax value and is net of exemptions. <br /> City of South Bend <br />Assessment Year Net Assessed Valuation <br />1985-86 $ 433,033,280 <br />1986-87 ~ 429,b98,477 <br />1987_88 434,054,735 <br />1988-89 434,418,266 <br />1989-90 646,730,745 <br />1990-91 614,580,764 <br />1991-92 617,573,087 <br />1992-93 623,329,408 <br />1993-94 625,471,912 <br /> <br />
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