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| 2006 Bond Indebtedness
CITY OF BALLWIN
BOND INDEBTEDNESS
2006 | | Original Issue - 1992 | | | $ 12,285,000 | | | Payments thru 12/31/97: | | $ (1,945,000) | | Refunded Amount 7/2/98 | | | $ 10,340,000 | | | Payments thru 12/31/05: | | $ (4,240,000) | | Total Bond Indebtedness 12/31/05: | | $ 6,100,000 | | | | | | | Bond Requirements for 2006: | | | | | Principal - 9/2006: | $ 765,000.00 | | | | Interest - 3/2006: | $ 136,333.75 | | | | Interest - 9/2006: | $ 136,333.75 | | | | | $ 1,037,667.50 | | | Total Bond Indebtedness 12/31/06: | | $ 5,335,000 | | | | | | DEBT LIMITATIONS | | | | | | | Assessed Valuation - 6/20/05: | $ 558,511,582 | | | Debt Limit = 10% of Assessed Valuation: | $ 55,851,158 | | | Amount of debt applicable to debt limit: | $ (6,100,000) | Legal Available Debt Limit:
| | $ 49,751,158
| The City of Ballwin currently has one (1) refunded bond issue outstanding (7/2/98), which had an original issue cost of $12,285,000. The original issue was divided into two (2) parts. One was in the amount of $3,000,000 (1992A) and was for the development of the Community Center, also known as the Pointe at Ballwin Commons. The second was in the amount of $9,285,000 (1992B) and was for street and road improvement projects throughout the City. As of December 31, 2005, this debt has been reduced to $6,100,000. The year 2006 Bond Requirement Payments are listed above. The City's legal debt is limited to ten (10%) percent pf the current assessed valuation of $558,511,582, which this year equates to $55,851,158. Subtracting our current outstanding debt of $6,100,000, the City has an additional available debt capacity of $49,751,158. | | | | | | | | | | | | | | | | | | | CERTIFICATE OF PARTICIPATION
2006 | | Original Issue - 8/1/02: | | | $ 8,210,000.00 | | | Payments thru 12/31/05: | | $ (1,320,000.00) | | Total C.O.P.S. Debt 12/31/05: | | $ 6,890,000.00 | | | | | | | | Payments Due in 2006: | | | | | 3/1/06 Interest: | $ 131,805.63 | | | | 9/1/06 Interest/Principal: | $ 131,805.63 | $ 470,000.00 | | | | | | | Total C.O.P.S. Reduction Requirements for 2006: | | $ 733,611.26 | | | | | | | Total C.O.P.S. Indebtedness 12/31/06: | | $ 6,420,000.00 | | | | | | TAX INCREMENT REFUNDING & IMPROVEMENT REVENUE BONDS
2006 | | | | | | | Original Issue - 6/1/02: | | | $ 20,100,000.00 | | | Payments thru 12/31/05: | | $ (1,075,000.00) | | Total TIF Debt 12/31/05: | | | $ 19,025,000.00 | | | | | | | | Payments Due in 2006: | | | | | 4/1/06 Interest: | $ 558,568.75 | | | | 10/1/06 Interest/Principal: | $ 558,568.75 | $ 550,000.00 | | | | | | | Total TIF Reduction Requirements for 2006: | | $ 1,667,137.50 | | | | | | | Total TIF Indebtedness 12/31/06: | | $ 18,475,000.00 | | | | | | | | | | | | TOTAL CITY DEBT REQUIREMENTS FOR 2006 (excluding TIF): | $ 1,771,278.76 | | TOTAL CITY DEBT REQUIREMENTS FOR 2006 (including TIF): | $ 3,438,416.26 | | | | | |
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