The bonded indebtedness of the City shall not be increased beyond fifteen per cent of the assessed value of all taxable real and personal property within the City. The indebtedness of any special local district or of the Los Angeles City School District shall not be included in computing the debt limit herein provided.
SECTION HISTORY
Based on Charter, Secs. 3(3) and 3(4).
Amended by: Ord. No. 173,306, Eff. 6-30-00, Oper. 7-1-00.