overlapping debt

Overlapping debt

The portion of debt of political subdivisions or neighboring special districts that a municipality is responsible for.

Overlapping Debt

A situation in which two governments with overlapping jurisdiction each have debt. For example, if the City and the State of New York have both issued bonds to pay for their operations, both the city and the state have overlapping debt. Having overlapping debt may affect one or both governments' ability to repay.

overlapping debt

Debt of a municipality that is shared with another political entity. For example, a city may share responsibility with the county in which the city is located for bonds issued by the county to finance a facility such as a public auditorium. Compare underlying debt.
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The inclusion of overlapping debt increases the overall debt burden to a high 6.
However, as a result of the overlapping debt of local taxing entities, the overall debt level is above average at about $5,700 per capita, or 5% of market value.
Even including overlapping debt, the debt to assessed value ratio is low at 1.
The inclusion of overlapping debt significantly increases overall debt levels to $5,269 per capita and 18.
The rating also considers the high direct and overlapping debt ratios of the city and the potential volatility of sales tax revenues.
Including state support of approximately 82% of debt service, VVISD's combined direct and overlapping debt levels are 1.
However, as a result of the overlapping debt of local taxing entities, the overall debt level is moderate at $2,634 per capita, or almost 4% of assessed value.
Overlapping debt includes local school and community college districts, as well as county and forest preserve debt, bringing overall debt to a moderately high $6,907 per capita or 8.
2% of the city's taxable assessed value (TAV), considering state funding of overlapping school district debt; Burleson Independent School District, the primary school district serving the city, accounts for over 50% of all overlapping debt.
Including overlapping debt - primarily from the city's three school districts, overall city debt is $3,036 per capita and 3.
Including overlapping debt the burden remains low at $3,179 per capita and 2.
Including overlapping debt, debt per capita totals $3,763 per capita and 2.