| Legal Debt Margin Information | ||||||
| Last Six Fiscal Years | ||||||
| (Expressed in Thousands) | ||||||
| 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | |
|---|---|---|---|---|---|---|
| Estimated General Fund Tax Receipts | $8,147,500 | $8,624,000 | $9,441,100 | $10,455,400 | $11,250,700 | $12,453,200 |
| Statutory Multiplier | 1.6 | 1.6 | 1.6 | 1.6 | 1.6 | 1.6 |
| Statutory Debt Limit for Debt Incurred | 13,036,000 | 13,798,400 | 15,105,760 | 16,728,640 | 18,001,120 | 19,925,120 |
| Less: Authorized Bonds, Notes, and | ||||||
| Other Obligations Subject to | ||||||
| Certain Limitations | 11,724,239 | 12,233,029 | 12,486,174 | 12,938,435 | 13,481,602 | 14,266,573 |
| Legal Debt Margin | $1,311,761 | $1,565,371 | $2,619,586 | $3,790,205 | $4,519,518 | $5,658,547 |
| Legal Debt Margin as a percentage | ||||||
| of the debt limit | 10.06% | 11.34% | 17.34% | 22.66% | 25.11% | 28.40% |
| Date Calculation was made | 11/1/02 | 12/16/03 | 1/1/05 | 12/16/05 | 2/1/07 | 2/1/08 |
Source: State of Connecticut General Obligation Bonds Offering Statement