The maximum principal amount of debt that an issuer of municipal securities is permitted to incur under constitutional, statutory or charter provisions. The debt limit can be expressed in various manners, including, for example, as a percentage of assessed valuation.
The maximum amount of debt that a municipality may incur.
The New York State Local Finance Law limits the amount of indebtedness that a county can contract for any purpose or in any manner, including existing indebtedness, to 7% of the full real estate valuation (Average last five years). The full real estate valuation is established by the State.
the maximum borrowing power of a governmental entity
The statutory or constitutional limit on the amount of debt a municipality, county or state may issue or have outstanding. Also called a Debt Ceiling.
The maximum amount of debt which a governmental unit is legally permitted to incur.
Maximum amount of debt an individual or business can borrow.
The maximum amount of debt which a municipality may incur.
The total amount that a debtor is allowed to borrow, either from a specific creditor or aggregately from all available sources
The maximum amount of debt that a municipality is permitted to incur--also known as "debt ceiling."
A statutory or constitutional limit on the principal amount of debt that an issuer may incur (or may have outstanding at any one time).
