• Last round of leaf pickup starts Monday, December 4th. All leaves must be to the curb by that date to ensure pickup.

2006 Bond Indebtedness

CITY OF BALLWIN
 
BOND INDEBTEDNESS
 
2006

Original Issue - 1992  $       12,285,000
 Payments thru 12/31/97: $       (1,945,000)
Refunded Amount 7/2/98  $       10,340,000
 Payments thru 12/31/05: $       (4,240,000)
Total Bond Indebtedness 12/31/05: $        6,100,000
    
      Bond Requirements for 2006:  
 Principal - 9/2006:$    765,000.00 
 Interest - 3/2006:$    136,333.75 
 Interest - 9/2006:$    136,333.75 
  $  1,037,667.50 
Total Bond Indebtedness 12/31/06:  $        5,335,000
    

DEBT LIMITATIONS

   
 Assessed Valuation - 6/20/05:$     558,511,582
 Debt Limit = 10% of Assessed Valuation:$       55,851,158
 Amount of debt applicable to debt limit:$       (6,100,000)
Legal Available Debt Limit:
 
 $       49,751,158
 

     The City of Ballwin currently has one (1) refunded bond issue outstanding (7/2/98), which had an original issue cost of $12,285,000.  The original issue was divided into two (2) parts. One was in the amount of $3,000,000 (1992A) and was for the development of the Community Center, also known as the Pointe at Ballwin Commons.  The second was in the amount of $9,285,000 (1992B) and was for street and road improvement projects throughout the City.

     As of December 31, 2005, this debt has been reduced to $6,100,000.  The year 2006 Bond Requirement Payments are listed above.    

     The City's legal debt is limited to ten (10%) percent pf the current assessed valuation of $558,511,582,  which this year equates to $55,851,158.  Subtracting our current outstanding debt of $6,100,000, the City has an additional available debt capacity of $49,751,158.

 
 
 
 
 
 
 
    

CERTIFICATE OF  PARTICIPATION
 
2006

Original Issue - 8/1/02:  $    8,210,000.00
 Payments thru 12/31/05: $   (1,320,000.00)
Total C.O.P.S. Debt 12/31/05:  $    6,890,000.00
    
 Payments Due in 2006:  
   3/1/06 Interest:$    131,805.63 
   9/1/06 Interest/Principal:$    131,805.63 $       470,000.00
    
Total C.O.P.S. Reduction Requirements for 2006: $       733,611.26
    
Total C.O.P.S. Indebtedness 12/31/06: $    6,420,000.00
    

TAX INCREMENT REFUNDING & IMPROVEMENT REVENUE BONDS
2006

    
Original Issue - 6/1/02:  $  20,100,000.00
 Payments thru 12/31/05: $   (1,075,000.00)
Total TIF Debt 12/31/05:   $  19,025,000.00
    
 Payments Due in 2006:  
   4/1/06 Interest:$    558,568.75 
   10/1/06 Interest/Principal: $    558,568.75 $       550,000.00
    
Total TIF Reduction Requirements for 2006: $    1,667,137.50
    
Total TIF Indebtedness 12/31/06: $  18,475,000.00
    
    
TOTAL CITY DEBT REQUIREMENTS FOR 2006 (excluding TIF):$    1,771,278.76
TOTAL CITY DEBT REQUIREMENTS FOR 2006 (including TIF):$    3,438,416.26