debt, without adjustments for deductions.
Deductions usually include sinking funds and reacquired debt not
municipal bond analysis, deductions from gross debt are sinking funds
as well as that portion of the debt which is revenue producing, such as
that incurred to finance city-operated facilities (water supply, rapid
transit, etc.). The net debt
figure resulting is the base for calculating debt per capita and net debt
percentage of assessed value of taxable property.
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