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B. Annual Requirements <br /> The annual requirements to amortize all long-term debt outstanding as of <br /> June 30, 1993 are as follows: <br /> 1994 $ 2,411,900 <br /> 1995 2,396,900 <br /> 1996 2,246,900 <br /> 1997 2,046,900 <br /> 1998 1,821,900 <br /> 1999 and after 3,076,900 <br /> Total $ 14,001,400 <br /> C. Legal Debt Margin <br /> The Town is subject to the General Laws of the Commonwealth of <br /> tg <br /> Massachusetts which limits the amount of bonded debt (exclusive of <br /> several categories of general obligation debt issues exempt from the debt <br /> limit) the Town may have outstanding to 5 percent of the valuation of <br /> taxable property as last equalized by the Commonwealth's Department of <br /> Revenue. The following is a computation of the legal debt margin as of <br /> June 30, 1993. <br /> Equalized valuation - June 30, 1993 $ 1,409,006,879 <br /> Debt limit - 5% of equalized valuation $ 70,450,344 <br /> Total debt outstanding $ 14,001,400 <br /> Less: debt exempt from limit 8,021,500 5,322,400 <br /> Legal Debt Margin $ 65,127,944 <br /> D. Bond Authorizations <br /> Long-term debt authorizations which have not been issued or rescinded <br /> as of June 30, 1993 are as follows: <br /> - 15 - <br />