• Ballwin City offices will be closed Monday, May 27 in observance of Memorial Day.

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