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Debt limit <br />Total net debt applicable to limit <br />Legal debt margin <br />Total net debt applicable to the limit <br />as a percentage of debt limit <br />CITY OF ARDEN HILLS <br />Legal Debt Margin Information <br />Last Ten Fiscal Years <br />Fiscal Year <br />2014 2015 2016 2017 <br />$ 31,654,614 $ 33,672,840 $ 34,326,648 $ 35,201,928 <br />$ 31,654,614 $ 33,672,840 $ 34,326,648 $ 35,201,928 <br />Note: Under state finance law, the City's outstanding general obligation debt should not exceed 3 percent of total market <br />value. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for repaying <br />general obligation bonds. Tax increment bonds are not subject to the debt limit; therefore, they are not included. <br />-89- <br />