2021 Annual Comprehensive Financial Report

Table XVI Page 1 of 2

Legal Debt Margin Information Fiscal Years Ended June 30, 2012-2021

Fiscal Year

2012

2013

2014

2015

Debt Limit

1,956,517,676 $

1,972,878,091 $

2,033,846,894 $

2,021,818,460 $

Total Net Debt Applicable to Limit

386,236,037

379,688,772

389,836,178

371,141,667

Legal Debt Margin

1,570,281,639 $

1,593,189,319 $

1,644,010,716 $

1,650,676,793 $

Legal Debt Margin as a Percentage of Debt Limit

80.26%

80.75%

80.83%

81.64%

(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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