margin and a schedule of direct and overlapping debt for the city as of the December $31$ year$-$end. You ascertain that the following

bond issues are outstanding on that date:

You obtain other Information that Includes the following Items:

Assessed valuation of real and taxable personal property in the city totaled $$190,000,000.$

$2$ The rate of debt limitation applicable to the City of Appleton was $4$ percent of total real and taxable personal property valuation.

Electric utility, water utility, and transit authority bonds were all serviced by enterprise revenues. By law, such self$-$supporting debt is

not subject to debt limitation$.$

The convention center bonds and tax Increment bonds are subject to debt Ilmitation.

The amount of assets segregated for debt retirement at December $31$ is $$2,000,000.$

The city's residents are also taxed by Clyde County for $25$ percent of school district and health services debt. The school district

has $$18,000,000$ in outstanding bonds, while health services has $$5,000,000$ in debt. Finally, one$-$third of the $$1,200,000$ of

regional library outstanding debt is paid by taxes assessed on Appleton residents.

Required

a$-1.$ Prepare a statement of legal debt margin for the city as of December $31$ year$-$end.

a$-2.$ Prepare a schedule of direct and overlapping debt for the city as of December $31$ year$-$end. $($Round Percentage answers to $2$

decimal places.$)$