Laserfiche WebLink
COUNCIL COMMUNICATION <br />TO: MAYOR AND CITY COUNCIL <br />FROM: MALCOLM FLEMING, CITY MANAGER <br />DATE: NOVEMBER 15, 2010 <br />SUBJECT: DEBT SUMMARY <br />ORIGINATING DEPARTMENT: FINANCE <br />SUMMARY: <br />At the October 18, 2010 meeting, the Finance Committee requested a summary of the City's <br />outstanding debt. Jim Manire, the city's Financial Advisor, will be present to discuss various <br />debt issues and to answer questions. This Council Communication and the related <br />attachments also provide summarized and detailed information regarding the City's debt. <br />In relation to its valuation, the City has very little general obligation debt. As shown in the <br />schedule below, the City's outstanding general obligation debt at the end of 2009 was only 6% <br />of its debt limit. The City's debt margin at December 31, 2009 was over $88 million. <br />City of Louisville, Colorado <br />Calculation of Legal Debt Limit & Debt Margin <br />2009 Actual Value $ 3,150.913.40 <br />Debt Limit - 3% of Actual Value 91,521,402 <br />Outstanding Debt Applicable to Debt <br />Limit at December 31, 2009 5,845.000 <br />Debt lulargin $ 88.682.402 <br />The total debt load placed on the citizens of Louisville does not come from just the City. The <br />following schedule, from the 2009 Comprehensive Annual Financial Report, calculates the total <br />overlapping bonded debt on the City of Louisville. <br />SUBJECT DEBT SUMMARY AGENDA ITEM <br />