2012 Budget Summary - Chicago Park District

Debt AdministrationDebt AdministrationThe District manages its debt portfolio in accordance with State and Federal rules andregulations. Under state statutes, the District is governed in how it issues debt as well aslimitations on the issuance of certain types of debt. Currently, the District’s statutory generalobligation bonded debt limitation is 2.3% of the latest known Equalized Assessed Valuation(EAV). The District was $1,472 million or 76% below the $1,946 million state imposed limit.The District is also subjected to a separate statutory debt limit of 1% of EAV for certain generalobligation bonds issued without referendum. The District has in excess of $458 million incapacity under this limit. At the end of 2010, the District had approximately $934 million ofoutstanding long-term debt which is 16% more than the previous year.Bond Rating of the DistrictFitchMoody’sStandard & Poor’sAAAAa2AA+General Obligation Bonds:in thousands Principal Interest TotalYear Ending December 31:2011 $ 42,545 $ 42,357 $ 84,9022012 $ 44,025 $ 43,449 $ 87,4742013 $ 44,455 $ 41,284 $ 85,7392014 $ 44,335 $ 39,106 $ 83,4412015 $ 46,415 $ 36,893 $ 83,3082016 – 2020 $ 215,365 $ 151,201 $ 366,5662021 – 2025 $ 214,845 $ 97,219 $ 312,0642026 – 2030 $ 170,790 $ 48,411 $ 219,2012031 – 2035 $ 65,205 $ 19,295 $ 84,5002036 – 2040 $ 46,305 $ 6,378 $ 52,683$ 934,285 $ 525,593 $ 1,459,87863