2013 Annual Budget - City of Bremerton

2012 Valuation for Collection Year 2013* $ 2,414,000,000
General purposes:
a. Non-Voted indebtedness limit (1.5% of assessed valuation) $ 36,210,000
Less: Non-voted bonds outstanding (28,723,000)
Less: Contracts payable (2,076,086)
Plus: Assets available for debt service 520,645
Remaining capacity for general purpose (non-voted) $ 5,931,559
b. Voted indebtedness limit (2.5 % of assessed valuation) $ 60,350,000
Less: Voted bonds outstanding (10,285,000)
Less: Non-voted bonds outstanding (28,723,000)
Plus: Assets available for debt service 382,153
Remaining capacity for general purposes (Voted) $ 21,724,153
Utility purposes (2.5% of assessed valuation) $ 60,350,000
Limit
Less: Bonds outstanding -
Remaining capacity for utility purposes $ 60,350,000
Parks and open spaces and economic development purposes
(2.5% of assessed valuation) 60,350,000
Limit
Less: Bonds outstanding -
Remaining capacity for parks and open space purposes $ 60,350,000
* 2013 Assessed Value - Estimate Only
City of Bremerton
Statutory Debt Limit Calculations
(As of September 24, 2012)
Revenue bonds may be issued to finance projects
for any City enterprise that is selfsupporting.
These bonds may finance water,
wastewater, stormwater, and golf courses.
Payment for debt service on revenue bonds
comes from user fees and rates generated by
the utility for which the capital facility is being
built.
Debt Service Funds Overview
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