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TOWN OF MASHPEE, MASSACHUSETTS <br /> NOTES TO FINANCIAL STATEMENTS <br /> JUNE 30, 1990 <br /> NOTE 3. - DUE FROM STATE GOVERNMENT <br /> The Town expects to receive from the Commonwealth of Massachusetts the <br /> fallowing: <br /> General Fund Special Revenue <br /> Additional State Aide <br /> Highway Grant $48,2.85 <br /> -------- ------- <br /> $330, 178 <br /> ------$330, 178 $413,285 r;t <br /> NOTE 4. - SUMMARY OF DEBT <br /> A. Legal Debt Limit <br /> Chapter 44, Section 10, of the Massachusetts General Laws permits the <br /> issuance of bands up to 5% of the equalized valuation, plus an addi- <br /> tional amount which would bring the total up to, but less than 10X <br /> with the approval of the Emergency Finance Board. The fallowing is a <br /> computation of the legal debt margin as of June 30, 1990. <br /> Equalized valuation - personal property <br /> and real estate, January 11 1990 $1, 734, 885,000 <br /> Debt limit - 5% of equalized valuation 86, 744, 250 <br /> Total debt (including authorized and <br /> unissued of $2,022,525) $20,042, 341 <br /> Less debt outside debt limit 10,622,500 9,419, 841 <br /> Legal debt margin $ 77, 324, 409 <br /> -------------- <br /> -------------- <br /> B. Overlapping 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 fallowing surn- <br /> mary sets forth the long-term debt of such governmental agencies and <br /> the estimated share being financed by the "town as of June 30, 1990. <br /> Total Long- Town' s Town' s <br /> Term Debt Estimated indirect <br /> Out- star,din Share _ Debt <br /> u,.. <br /> Aq@ncv Y <br /> Cape Cad Reg. Voc. Tech. ` <br /> High School District i,5001000 10.06Y. GSSG, 900 <br /> 01, <br /> Cape Cod Reg. Trans. Authority $90t},000 3. 13% $28, 170 <br /> 18 <br />