2012 Budget - South Suburban Parks and Recreation

South Suburban Park and Recreation District
Debt Service Fund Budget Overview
The District’s General Obligation bonds are subject to the following debt limitation as
described in the Colorado Revised Statue Section 32-1-1101 (6) (a) “The total principal
amount of general obligation debt of a special district issued, on or after July 1, 1991, shall
not at the time of issuance exceed the greater of two million dollars or fifty percent of the
valuation for assessment of the taxable property in the special district, as certified by the
assessor.”
Legal Debt Margin
2008 2009 2010 2011 2012
Assessed Valuation $ 2,282,531,976 $ 2,273,270,150 $ 2,390,836,700 $ 2,393,062,513 $ 2,242,690,279
Legal Debt Margin:
Debt Limitation - 50% of the Total
Valuation for Assessment per Colorado
Revised Statutes, Section 32-1-1101 (6) (a) $ 1,141,265,988 $ 1,136,635,075 $ 1,195,418,350 $ 1,196,531,257 $ 1,121,345,140
Total General Obligation Debt $ 30,395,000 $ 28,240,000 $ 25,910,000 $ 23,505,000 $ 21,025,000
Legal Debt Margin $ 1,110,870,988 $ 1,108,395,075 $ 1,169,508,350 $ 1,173,026,257 $ 1,100,320,140
Total General Obligation Debt applicable to
the limit as a percentage of the debt limit 2.66% 2.48% 2.17% 1.96% 1.87%
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