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<br />MAY-23-2003 15:16 <br /> <br />763 569 5799 <br /> <br />763 569 5799 <br /> <br />P. 18/"19 <br /> <br />FINANCIAL ANALYSIS (Continued) <br /> <br />Conduit debt obligations are certain limited-obligation revenue bonds or similar debt instruments <br />issued for the express purpose of providing capital fmancing for a specific third party. The City <br />.has issued various revenue bonds to provide funding to private-sector entities for projects <br />deemed to be in the public interest. Although these bonds bear the name of the City, the City has <br />no obligation for such debt. Accordingly, the bonds are not reported as liabilities in the financial <br />statements of the City or in this analysis. <br /> <br />The graph below indicates both the gross and net bonded debt trends over the past five years (not <br />including conduit debt or enterprise fund debt): <br /> <br />Non-Enterpise <br />Banded Debt <br />(City and HRA) <br /> <br />$35,000,000 . <br /> <br />$5,000.000 <br /> <br /> <br />$30,000,000 - <br /> <br />$25,000.000 <br /> <br />$20,000.000 <br /> <br />$15.000,000 . ~. ._" <br /> <br />$10.000.000 <br /> <br />so <br /> <br />199B <br /> <br />1999 <br /> <br />2000 <br /> <br />2001 <br /> <br />2002 <br /> <br />! El Gro~s' ë~nded Debt ... -4 . Net Bond~d Debt <br />-.... - -.,..- <br /> <br />.'Debt S~~œ F~nd 8al~n~ <br /> <br />16 <br />