City of Santa Fe Finance Committee, 11 Jan 2012

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From YouTube: Santa Fe Opportunity Bonds: Dr. Mel Morgan, Finance Director

Description

Dr. Mel Morgan, Finance Director discusses financial management of the proposed Santa Fe Opportunity Bonds.

A

Is the city of a lot of debt banda.

B

Overall I would say, and we're average with our city our size for the general obligation bonds. However, we actually maintain a very low debt ratio to what we could bond for in the general obligation bonds. Okay,.

A

We could we bump the way you figure.

B

That is that you look at the total amount of property value for the whole city. One-Third of that then, is what's taxed, and our portion of that one-third is four percent. Okay, four percent right now and it changes sure four percent right now- is about 144 million dollars. So.

A

That's our bonding capacity that.

B

Is the total amount that we could go for?

B

We are issuing 20 2.8 million or we're requesting 20 2.8 million. We have a bond of general obligation bond out for 30 million, so the total amount for the geo bond then, would be the total amount. After we pass this one of indebtedness would be 50, 2.8 million about 50.

A

B

Significantly less than the total amount we could bond for.

A

Which is 144 million years? Okay,.