CAFR 2017

Table XV Page 1 of 2

Legal Debt Margin Information Fiscal Years Ended June 30, 2008-2017

Fiscal Year

2008

2009

2010

2011

Debt Limit

1,807,575,963 $

1,934,786,708 $

1,947,852,097 $

1,937,582,819 $

Total Net Debt Applicable to Limit

286,841,815

425,933,103

424,210,158

408,374,842

Legal Debt Margin

1,520,734,148 $

1,508,853,605 $

1,523,641,939 $

1,529,207,977 $

Legal Debt Margin

84.13%

77.99%

78.22%

78.92%

(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. 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.

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