This case focuses on the analysis of a city€™s general obligation debt burden. After examining the accompanying table that shows a city€™s general obligation (tax-supported) debt for the last 10 fiscal years, answer the following questions.

Required
a. What is your initial assessment of the trend of the city€™s general obligation debt burden?
b. Complete the table by calculating the ratio of Net General Bonded Debt to Assessed Value of taxable property and the Net General Bonded Debt per Capital. In addition, you learn that the average ratio of Net General Bonded Debt to Assessed Value for comparable-size cities in 2020 was 4.56 percent, and the average net general bonded debt per capital was $1,376. Based on time series analysis of your calculations and the benchmark information provided in this paragraph, is your assessment of the city€™s general obligation still the same as it was in requirement a, or has it changed? Explain.

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Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt per Capita (Last 10 Fiscal Years-$000s omitted) Net General Net General Net Bonded Gross Less: Amount Bonded Debt In Debt Service Fund Assessed Valuation to Assessed Fiscal Estimated Bonded Bonded Debt per Capita Year Population Debt Debt Value 2011 1,792,747 192,151 92,606 90,599 99,545 2012 92,061 1,939,316 206,856 100,690 106,166 2013 93,524 2,057,130 212,323 106,655 105,668 2014 94,986 2,197,710 221,287 102,518 118,769 2015 96,647 2,386,169 261,519 117,212 144,307 2016 97,610 2,585,416 291,736 120,326 171,410 2017 99,208 2,843,133 280,654 106,551 174,103 2018 100,477 3,080,629 278,042 105,945 172,097 2019 102,404 3,201,498 271,425 86,976 184,449 3,325,203 214,630 2020 103,428 309,788 95,158