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Schedule 11
<br />CITY OF REDWOOD CITY, CALIFORNIA
<br />LEGAL DEBT MARGIN INFORMATION
<br />Last Ten Fiscal Years
<br />Total Total Total Net Debt
<br />Net Debt Legal Debt Applicable to Limit
<br />Fiscal Year Debt Limit Applicable to Limit Margin as % of Debt Limit
<br />$$$%
<br />2007-08 534,863,468 534,863,468
<br />2008-09 578,075,493 578,075,493
<br />2009-10 586,805,199 586,805,199
<br />2010-11 579,346,467 579,346,467
<br />2011-12 577,068,246 577,068,246
<br />2012-13 597,012,561 597,012,561
<br />2013-14 636,545,042 636,545,042
<br />2014-15 671,536,104 671,536,104
<br />2015-16 729,301,290 729,301,290
<br />2016-17 799,541,510 799,541,510
<br />Legal Debt Margin Calculation for FY 2016-17
<br />Assessed value 20,562,250,907
<br />Add back: exempt real property 758,856,031
<br />Total assessed value 21,321,106,938
<br />Debt limit (3.75% of total assessed value)799,541,510
<br />Debt applicable to limit:
<br /> General obligation bonds
<br /> Less: Amount set aside for repayment
<br /> of general obligation debt
<br /> Total net debt applicable to limit
<br />Legal debt margin 799,541,510
<br />Note: Under state finance law, the city's outstanding general obligation debt should not exceed 15% of total
<br />assessed property value. However, the city has established a more conservative internal limit of not more than
<br />3.75%. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for repaying
<br />general obligation bonds.
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<br />6.1.E. - Page 163
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