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<br />FUNDED DEBT LIMITATION
<br />
<br />There is no direct debt limitation in the City Charter or under State Law. The City operates under a
<br />Home Rule Charter that limits the maximum tax rate, for all City purposes, to $2.50 per $100 Assessed
<br />Valuation. Administratively, the Attorney General of the State of Texas will permit allocation of $1.50 of
<br />the $2.50 maximum tax rate for general obligation debt service.
<br />
<br /> VALUATION AND FUNDED DEBT HISTORY
<br /> Ratio Funded
<br /> Funded Debt Debt to
<br /> Estimated Taxable Outstanding Taxable
<br />Fiscal Actual Assessed at End Assessed
<br />Period Valuation Valuation of Year Valuation
<br />1977/78 $150,216,315 $105,151,421 $ 1,673,000 1. 59%
<br />1978/79 156,072,491 109,250,744 1,639,000 1. 50%
<br />1979/80 162,225,151 113,557,606 1,514,000 1.33%
<br />1980/81 172,465,896 120,726,127 1,421,000 1.18%
<br />1981/82 192,893,296 192,893,296 (I) 1,606,000 0.83%
<br />1982/83 367,869,077 367,869,077(2) 1,969,000 0.53%
<br />1983/84 396,108,922 396 ,108,922 7,834,000 1.98%
<br />1984/85 455,064,587 455,064,587 10,522,000 2.31%
<br />1985/86 500,619,689 500,619,689 9,968,000 2.01%
<br />1986/87 781,212,501 781,212,501(3) 10,000,000 1.28%
<br />1987/88 791,184,556 791,184,556 16,296,000(4) 2.06%
<br />
<br />(1)
<br />(2)
<br />(3)
<br />(4)
<br />
<br />Increase in basis of assessment from 70% to 100%.
<br />Full revaluation and first year of appraisal by Hays County Appraisal District.
<br />Revaluation.
<br />Estimated.
<br />
<br />ESTIMATED OVERLAPPING FUNDED DEBT PA YABLE FROM AD VALOREM TAXES
<br />(As of 9-30-87)
<br />
<br />TaxinJ;t Jurisdiction
<br />City of San Marcos
<br />San Marcos Consolidated Independent School District
<br />Hays County
<br />Upper San Marcos Watershed Reclamation
<br />and Flood Control District
<br />
<br /> Estimated
<br />Total % Overlapping
<br />Funded Debt Applicable Funded Debt
<br />$ 8,848,000* 100.00% $ 8,848,000*
<br />12,355,000 58.62% 7,242,501
<br />9,780,000 22.92% 2,241,576
<br />1,625,000 74.74% 1.214.525
<br /> $19,546,602
<br />
<br />Total Overlapping Funded Debt
<br />Ratio Overlapping Funded Debt to Net Taxable Assessed Valuation ----------u__u------u-u 2.47%
<br />
<br />Per Capita Overlapping Funded Debt - $576.59
<br />
<br />. Includes the Bonds and Certificates; excludes aU self-supporting general obligation debt and water and
<br />sewer system debt.
<br />
<br />Source: Texas Municipal Advisory Council.
<br />
<br />OTHER OBLIGATIONS
<br />
<br />Lease
<br />Purchase Item
<br />Copier
<br />Copier
<br />
<br />Term of Lease
<br />60 Months
<br />60 Months
<br />
<br />Interest
<br />Rate
<br />9.75%
<br />11.00%
<br />
<br />Monthly
<br />Payment
<br />$ 4.56.07
<br />1,516.97
<br />
<br />Balance at
<br />9-30-87
<br />$12,864.11
<br />40,450.12
<br />
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