Comprehensive Annual Financial Report - Cobb County

Cobb County, Georgia
Legal Debt Margin Information
Unaudited
2007
2006
Fiscal Year
2005 2004 2003
Assessed value of property $ 32,572,081,456 $ 30,286,408,554 $ 28,102,028,818 $ 26,088,528,583 $ 24,620,200,329
Debt limit, 10% of assessed value 3,257,208,146 3,028,640,855 2,810,202,882 2,608,852,858 2,462,020,033
Amount of debt applicable to limit 48,689,033 30,728,179 36,836,417 48,681,265 53,369,333
-
General Obligation Bonds 58,070,000 39,095,000 44,895,000 50,545,000 55,355,000
Less: Resources restricted to paying principal (9,380,967) (8,366,821) (8,058,583) (1,863,735) (1,985,667)
Total net debt applicable to limit 48,689,033 30,728,179 36,836,417 48,681,265 53,369,333
Legal debt margin $ 3,208,519,113 $ 2,997,912,676 $ 2,773,366,465 $ 2,560,171,593 $ 2,408,650,700
Total net debt applicable to the limit
as a percentage of debt limit 1.49% 1.01% 1.31% 1.87% 2.17%
2002
Fiscal Year
2001 2000 1999 1998
Assessed value of property $ 23,714,500,523 $ 20,528,283,257 $ 18,929,333,245 $ 17,734,080,496 $ 16,105,441,497
Debt limit, 10% of assessed value 2,371,450,052 2,052,828,326 1,892,933,325 1,773,408,050 1,610,544,150
Amount of debt applicable to limit 58,325,482 67,688,735 74,946,013 81,297,062 89,444,070
-
General Obligation Bonds 60,785,000 69,440,000 77,585,000 85,260,000 92,555,000
Less: Resources restricted to paying principal (2,459,518) (1,751,265) (2,638,987) (3,962,938) (3,110,930)
Total net debt applicable to limit 58,325,482 67,688,735 74,946,013 81,297,062 89,444,070
Legal debt margin $ 2,313,124,570 $ 1,985,139,591 $ 1,817,987,312 $ 1,692,110,988 $ 1,521,100,080
Total net debt applicable to the limit
as a percentage of debt limit 2.46% 3.30% 3.96% 4.58% 5.55%
Source: Cobb County Tax Commissioner's Office
Legal Debt Information - Fiscal Year 2007
$48,689,033
$3,208,519,113
Amount of debt applicable to limit
Legal debt margin
122