Reference no: EM131811723
Question - At December 31, 2009, all property inside the limits of the City of Dunlap was situated within four governmental units, each authorized to incur long-term debt. At that date, net long-term debt of the four units was as follows:
Dunlap County $23,555,000
City of Dunlap 9,444,000
Consolidated School District 14,998,000
Dunlap Library District 1,200,000
Assessed values of property at the same date were as follows: county and library districts, $900,560,000; city, $360,224,000; and school district, $450,280,000
Compute the actual ratio (round percentages to the nearest tenth of a percent) of total debt to assessed valuation applicable to the property within the City of Dunlap.
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