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City of Paris, Texas Table 8 <br /> Computation of Legal Debt Margin <br /> September 30, 2002 <br /> Unaudited <br /> <br />The maximum tax rate permitted by Article XI, Section 5 of the State of Texas <br />constitution is $2.50 per $100 of assessed valuation. Consequently, no legal <br />debt margin can be calculated. The state attorney general has traditionally <br />allowed up to $1.50 per $100 valuation to be applied to debt service. The City <br />levied a tax rate of $0.61 per $100 valuation for the fiscal year ended <br />September 30, 2002. <br /> <br />Source: <br /> City of Paris <br /> <br /> 116 <br /> <br /> <br />