Minutes-9/8/1998 (3)

CITY OF TIFFIN DEBT SERVICE CAPACITY FISCAL YEARS 1999 - 2003 <table> <tr> <th></th> <th>1998-99</th> <th>1999-00</th> <th>2000-01</th> <th>2001-02</th> <th>2002-03</th> </tr> <tr> <td>Debt Limit 5% of Assessed Value (1)</td> <td>$1,213,109</td> <td>$1,333,420</td> <td>$1,467,860</td> <td>$1,614,647</td> <td>$1,614,647</td> </tr> <tr> <td>Outstanding 1995 G.O. Bond (2)</td> <td>-265,000</td> <td>-250,000</td> <td>-235,000</td> <td>-215,000</td> <td>-195,000</td> </tr> <tr> <td>Balance of Legal Limit</td> <td>$948,109</td> <td>$1,083,420</td> <td>$1,232,860</td> <td>$1,399,647</td> <td>$1,419,647</td> </tr> <tr> <td>Recommended Limit (3)</td> <td>$584,000</td> <td>$683,000</td> <td>$792,000</td> <td>$915,000</td> <td>$935,000</td> </tr> </table> Comments: 1. The State imposed debt limit is based upon 5% of the City's 100% property assessed valuation. 2. The outstanding debt counted against this limit is the 1995 General Obligation Corporate Purpose Bond which is currently paid from water and sewer revenue. 3. The recommended limit is 70% of the state imposed legal limit less any outstanding debt.