2011 budget summary - St. Louis County

DEBT MANAGEMENTAV ($ in billions)$30$25$20$15$10$5$0Net Bonded Debt as a Percentage of Assessed Value1.4%1.2%1.0%0.8%0.6%0.4%0.2%0.0%1985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009Assessed Value ($1,000's)Percent Net Bonded DebtSCHEDULE OF OUSTANDING BONDED DEBT MATURITIESPRINCIPAL INTEREST TOTALINTERESTRATESeries 19982011 11,905.0 1,616.8 13,521.8 5.250%2012 12,660.0 987.8 13,647.8 5.000%2013 13,425.0 335.6 13,760.6 5.000%37,990.0 2,940.2 40,390.2The strong balance of the Debt Service Fundcoupled with the retirement of Series 1997 bonds(2009) and the upcoming retirement of Series 1998bonds (2013) provided the opportunity for a 56percent reduction in the property tax levy of theDebt Service Fund (from 6.3¢ to 2.8¢ per $100 ofAV) in 2009. This rate has been maintained in 2010and 2011.SPECIAL OBLIGATION BONDSSpecial Obligation Bonds do not require voterapproval and are secured by the County’s pledge toannually appropriate sufficient funds for debtservice.Since 2009, the County has issued a number ofspecial obligation bonds, summarized on thefollowing table. The debt service payments forthese bonds are included in the operating budget ofthe relevant County department.- 250 -