2019 Comprehensive Annual Financial Report (CAFR)

Table XV Page 1 of 2

Legal Debt Margin Information Fiscal Years Ended June 30, 2010-2019

Fiscal Year

2010

2011

2012

2013

Debt Limit Total Net Debt Applicable to Limit

$ 1,947,852,097 424,210,158

$ 1,937,582,819 408,374,842

$ 1,956,517,676

$

1,972,878,091 379,688,772

386,236,037

Legal Debt Margin

$ 1,523,641,939

$ 1,529,207,977

$ 1,570,281,639

$ 1,593,189,319

Legal Debt Margin as a Percentage of Debt Limit

78.22%

78.92%

80.26%

80.75%

(a) Under state finance law, the City's outstanding general obligation debt may not exceed 8 percent of total assessed property value. However, the City has established a more conservative internal limit of no more than 2 percent outstanding. By law,the general obligation debt subject to the limitation may be offset by amounts set aside for repaying general obligation bonds.

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