AgdaPkt 2003-07-28 - Laserfiche WebLink

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10A W 7, 1 1 Vabre- to-Debt Burden. The value -to -debt burden of the Remaining Taxable Parcels in the District, based on assessed valuation of $765,845,299, reflecting the 2002 -03 assessed value adjusted for the appellant statement of value with regard to properties subject to assessed valuation and Bonds in the amount of S1',97P 000', equals 64:1'. Value - to-Debt Burden Disirlbudon. The following table describes the number of parcels in certain value -to -debt burden categories as of fiscal year 2002 -03. Approximately 87 percent of the total assessed value (less that portion of the fiscal year 2002 -03 assessed value appealed by property owners) of the Remaining Taxable Parcels in the District have a value -to -debt burden ratio of greater than 40 to 1, based on the lien of both the 2001 Bonds and 2003 Bonds. See "Value - to-Debt Burden" above. Table 2 COMMUNITY FACHXM DISTR[CT NO. 99-1 Assessed Value- to-Debt Burdett Ratios of District Pawls Subject to the Lien of the Special Tax Vabre-m-Debt FY 2002 -03 TOW % TOW Burden Number FY 2002 -03 Land Impmvemeas FY 2002 -03 Assessed category 11thmak Assessed Value Q Assessed Value m Assessed Valise 0 1+2100 60:1 or more 44 164.538,790 334.999,717 499,538,507 95.23% 40:1 - 59.9:1 8 18,489,247 146,317,545 164,806.792 1:1- 39.9:1 _4 24.071.161 77.428.639 101.500.000 Lien of Pa. of Value AW9Lljj ARMLIJ® Lis 21.52% 6.309,896 50.85% 2,840.587 22.89% 79.17 58.02 31.14 Total 56 207,099,198 556,746.101 765,845.299 100.00% 12,410.000 100.00% 61.71 (1) The auNortad amount of Bonds is 813.535.000; ho never. the owner of wvnd pnuL his Prepaid its spatial lass and W on long subject to am lien orate Ba ds. the aummed madmum amotm OtBamb tbo wuld be nmmd bythe muimmn qmW tuft levied on dro r®uwng parcels subject to the levy of sped ten. This calculation assumes a 25-year ama0mtw4 a 5.5 percent average bteram rate. 525.000 of admmisadve aWerem payable prim m debt service and debt service coverage of 1.1 times (2) lesser of FY 2002-03 assessed value m appellant dnerndsrtlm of value. Source: WMIam Euphrat Municipal F/nance, Inc Major Land Owners The following table sets forth certain information with respect to the ten largest payers of Special Taxes in the District for fiscal year 2002 -03, including, for each property owner, the fiscal year 2002 -03 assessed value, the pro-rata portion of Bonds attributable to the property owner's parcels and the resultant value -to -debt burden ratio. The largest landowner in the District is Oracle Systems Corporation, whose eight parcels in the District were allocated approximately 30% of the District's Special Tax burden; however, Oracle has prepaid in full the District's Special Taxes attributable to such parcels. Accordingly, the Oracle holdings are not included in the table below. Information about the use of the property owned by the various property owners is set forth in "Current Development and Significant Land Uses" below. -23-