State of Connecticut

Legal Debt Margin Information
Last Seven Fiscal Years
(Expressed in Thousands)
  2003 2004 2005 2006 2007 2008 2009
Estimated General Fund Tax Receipts $8,147,500 $8,624,000 $9,441,100 $10,455,400 $11,250,700 $12,453,200 $12,971,100
Statutory Multiplier 1.6 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 20,753,760
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 14,876,927
Legal Debt Margin $1,311,761 $1,565,371 $2,619,586 $3,790,205 $4,519,518 $5,658,547 $5,876,833
               
Legal Debt Margin as a percentage              
of the debt limit 10.06% 11.34% 17.34% 22.66% 25.11% 28.40% 28.32%
               
Date Calculation was made 11/1/02 12/16/03 1/1/05 12/16/05 2/1/07 2/1/08 2/1/09

Source: State of Connecticut General Obligation Bonds Offering Statement