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TOWN OF MASHpEE, MASSACHUSETTS <br /> NOTES TO FINANCIAL STATEMENTS <br /> JUNE 30, 1983 <br /> 15. Summary of Debt <br /> A. Legal Debt Limit <br /> The Town is subject to debt limits established by law. Such limits <br /> are equal to 5% and 10% of the equalized valuation of taxable property <br /> and are known, as debt issued inside and outside the debt limit. <br /> Authorizations for debt outside the debt limit must be approved by the <br /> State Emergency finance Board. <br /> The following is a computation of the legal debt margin as of June 30, <br /> 1989. <br /> Inside Outside Total <br /> Debt Limit Debt Limit Debt Limit <br /> Equalized Valuation $783.547, 639 <br /> Debt Limit $39, 177, 382 $39, 177, 382 $78, 354, 764 <br /> Less Outstanding Debt 5, 0,286 11 '333. 000 17, 393, 986 <br /> Total Legal Debt Margin, $33. 716,3 # $27. 244, 382 $60.960. 778 <br /> B- Overlappinp Debt <br /> The Town pays assessments under formulas which include debt service <br /> payments to other governmental agencies providing services to the <br /> Town, (commonly referred to as overlapping debt) . The following sum- <br /> 'nary sets forth the long-term debt of such governmental agencies and <br /> the estimated share being financed by the Town as of June 30, 1989. <br /> Total Lang- Townes Town' s <br /> Term Debt Estimated Indirect <br /> A eYic Out st and i nn Share Debt <br /> r-aPe Cod Regional Vocational <br /> Technical High School <br /> District $2,000, 000 9. 3% $ 186,000 <br /> 25 <br />