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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 /> Debt Limit Applicable to Limit Margin as%of Debt Limit
<br /> $ $ $ %
<br /> 1997/98 23 8,3 80,976 0 23 8,3 80,976 0
<br /> 1998/99 269,289,533 0 269,289,533 0
<br /> 1999/00 296,740,922 0 296,740,922 0
<br /> 2000/O1 331,223,646 0 331,223,646 0
<br /> 2001/02 384,896,150 0 384,896,150 0
<br /> 2002/03 412,321,408 0 412,321,408 0
<br /> 2003/04 418,067,529 0 418,067,529 0
<br /> 2004/OS 433,746,574 0 433,746,574 0
<br /> 2005/06 454,105,241 0 454,105,241 0
<br /> 2006/07 491,468,701 0 491,468,701 0
<br /> Legal Debt Margin Calculation for FY 2006/07
<br /> Assessed value 12,664,028,291
<br /> Add back: exempt real property 441,803,730
<br /> Total assessed value 13,105,832,021
<br /> Debt limit(3.75%of total assessed value) 491,468,701
<br /> Debt applicable to limit:
<br /> General obligation bonds 0
<br /> Less:Amount set aside for repayment
<br /> of general obligation debt 0
<br /> Total net debt applicable to limit
<br /> Legal debt margin 491,468,701
<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.
<br /> 106
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