City of Lawrence, Kansas

                                                   Debt Issuance Guidelines

 

 

The City of Lawrence adopts the following guidelines for the issuance of debt:

 

-         Ratio of General Obligation Bonds Outstanding to Appraised Valuation will not exceed 2.2%.

-         Ratio of General Obligation Bonds and Temporary Notes Outstanding to the Statutory Debt Limit will not exceed 60%.

-         Ratio of Debt Service payments from the Bond and Interest Fund will not exceed 15% of governmental expenditures.

-         Amount of General Obligation Bonds Outstanding per Population will not exceed $1100.

-         Amount of overlapping General Obligation Bonds Outstanding per Population will not exceed $2500.

-         Bond and Interest mill levy will not exceed 10 mills.

 

The City will review and consider the following before any debt is issued:

 

-         Adherence to the Capital Improvement Budget

-         Adherence to the Capital Improvement Plan

-         Impact on the mill levy

-         Potential impact on other revenue sources such as increased property taxes and sales taxes.