Laserfiche WebLink
Overlapping Debt Statement <br />Se' forth below is a direct and overlapping debt report (the "Debt Report") prepared by <br />California Municipal StatrCtics, Inc. and dated September 1, 2003. This Debt Report is included <br />for general information pl, iposes only. The City has not reviewed the Debt Report for <br />completeness or accuracy and makes no representation in connection therewith. <br />CITY OF REDWOOD CITY <br />Direct and Overlapping Debt <br />September 1, 2003 <br />2002 -03 Assessed Valuation: $10,761,082,653 <br />Redevelopment Incremental Valuatiort. 838,809.547 <br />Adjusted Assessed Valuation $ 9,922,273,106 <br />OVERLAPPING TAX AND ASSESSMENT DEBT: <br />% Applicable <br />Debt 9/1/03 <br />San Mateo Community College District <br />Sequoia Union High School District <br />11.429% <br />28.814 <br />S 10,805,047 <br />37,344,385 <br />Belmont School District <br />52.591 <br />5,861,267 <br />Redwood City School District <br />61.388 <br />38,536,417 <br />San Carlos School District <br />2.436 <br />502,912 <br />Redwood City General Improvement District No. 1-64 <br />100. <br />5,625,000 <br />Redwood City Community Facilities District 2000 -1 <br />Redwood City Redwood Shores Community Facilities District No. 99-1 <br />100. <br />100. <br />20,020.000 <br />4.940,000 <br />City of Redwood City 1915 Act Bonds <br />100. <br />6.555.000 <br />TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT <br />$130,190,028 <br />DIRECT AND OVERLAPPING GENERAL OBLIGATION DEBT: <br />San Mateo County General Fund Obligations <br />11.429% <br />$30,584,430 <br />San Mateo County Board of Education Certificates of Participation <br />Belmont School District Certificates of Participation <br />11.429 <br />52.571 <br />566,878 <br />2,983,404 <br />San Carlos School District Certificates of Participation <br />2.436 <br />15,590 <br />Midpenmsula Reg�'onal Park District General Fund Obligations <br />9.558 <br />10,068,415 <br />City of Redwood Cittyy General Fund Lease Obligations <br />100. <br />26,020,000 (1) <br />San Mateo County T4osquito Abatement District Certificates of Participation <br />15.658 <br />298,285 <br />TOTAL DIRECT AND OVERLAPPING GENERAL OBLIGATION DEBT <br />$70,537,002 <br />COMBINED TOTAL DEBT <br />$200.727.030 (2) <br />(1) Excludes refunding certificates of participation to be sold. <br />(2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and tax allocation bonds and <br />non - bonded capital lease obligations. <br />Ratios to 2002 -03 Assessed Valuation: <br />Total Overlapping Tax and Assessment Debt 1.21% <br />Ratios to Adjusted Assessed Valuation: <br />Combined Direct Debt ($26,020,000) 0.26% <br />Combined Total Debt 2.02% <br />STATE SCHOOL BUILDING AID REPAYABLE AS OF 6/30/03: $0 <br />Source: California Municipal Statistics, Inc. <br />Employee Relations and Collective Bargaining <br />City employees are represented by three employee associations. The three employee <br />associations are shown below. Pursuant to the City's Employee Relations Ordinance and the <br />Meyers - Millias- Brown -Act, the City and the employee associations negotiate wages, hours and <br />conditions of employment <br />-37- <br />