2012 Budget Summary - Chicago Park District

20122013201420152016201720182019202020212022202320242025202620272028202920302031203220332034203520362037203820392040Annual Levy ($millions)Debt AdministrationUnder the Illinois Property Tax Extension Limitation Law beginning with the 2009 tax levy year,the District’s debt service extension base can be increased by the lesser of 5% or thepercentage increase in the Consumer Price Index during the calendar year preceding the levyyear. The District’s original Debt Service Extension Base (DSEB) is $42,142,942 which can onlybe increased through this formula or by referendum. Under the formula, the allowable DSEBgrowth for 2011 levy year is 1.5% ($43,973,943).The chart below depicts the available DSEB in years 2012 – 2036 reflecting the original DSEBand the formulaic increase as referenced above. It is anticipated that the available amounts willbe utilized in future financing transactions. The amount representing non referendumoutstanding debt does not include the debt service on any 1994 and newer Aquarium andMuseum Bonds or any Alternate Revenue Source Bonds.$55$50$45$40$35$30$25$20$15$10$5$0Chicago Park DistrictDebt Service Extension Base211. Original Debt Service Extension Base of $42,142,942.2. Reflects DSEB under the allowable growth with an assumed escalation rate of 1.5% for10 years.64