2020 Comprehensive Annual Financial Report

Table XV I Page 1 of 2

Legal Debt Margin Information Fiscal Years Ended June 30, 2011-2020

Fiscal Year

2011

2012

2013

2014

Debt Limit Total Net Debt Applicable to Limit

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

$ 1,956,517,676 386,236,037

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

$ 2,033,846,894 389,836,178

Legal Debt Margin

$ 1,529,207,977

$ 1,570,281,639

$ 1,593,189,319

$ 1,644,010,716

Legal Debt Margin as a Percentage of Debt Limit

78.92%

80.26%

80.75%

80.83%

(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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