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.