COG Comprehensive Annual Financial Report

Table XV Page 1 of 2

Legal Debt Margin Information Fiscal Years Ended June 30, 2009-2018

Fiscal Year

2009

2010

2011

2012

Debt Limit Total Net Debt Applicable to Limit

$ 1,934,786,708 425,933,103

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

$ 1,937,582,819

$

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

408,374,842

Legal Debt Margin

$ 1,508,853,605

$ 1,523,641,939

$ 1,529,207,977

$ 1,570,281,639

Legal Debt Margin as a Percentage of Debt Limit

77.99%

78.22%

78.92%

80.26%

(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.

(b) Reported at par value outstanding, net of related premiums, discounts and adjustments beginning in 2014.

-201-