Page 426 - Budget FY 2022-2023 - Update
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City of McAllen, Texas Adopted Budget 2023
COMPUTATION OF LEGAL DEBT MARGIN
SEPTEMBER 30, 2022
Assessed valuation 2021 tax roll for fiscal year 2021-2022 $ 11,055,653,500
Debt limit - Texas statutes do not prescribe a debt limit;
however, by custom, a practical economic debt limit of 5% of the assessed
valuation is used� 5%
Total bonded debt 552,782,675
Deduct amount available in debt service fund 3,880,392
Economic debt margin $ 548,902,283
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