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t <br />1 <br />1 <br />i <br />businesses involved. Ownership of the acquired facilities is in the name of the private <br />business served by the bond issuance. Neither the County, the Authority, the State, nor <br />any political subdivision thereof is obligated in any manner for the repayment of the <br />bonds. Accordingly, the bonds are not reported as liabilities in the accompanying <br />financial statements. As of June 30, 2010, there were two series of industrial revenue <br />bonds outstanding, with an aggregate principal amount of $14,200,000. <br />North Carolina Department of State Treasurer, State & Local Government Finance Division <br />Report —June 30, 2010 <br />Cabarrus County <br />Entity <br />Debt <br />Issued <br />Trustee <br />Balance <br />S & D Coffee, Inc. <br />$6,700,000 <br />06 -04 -96 <br />09 -10 -96 <br />First Citizens Bank & Trust <br />Co. <br />$6,600,000 <br />Cannon Memorial YMCA <br />(Special Purpose) <br />$9,500,000 <br />08 -13 -02 <br />Wachovia Bank <br />NOW US Bank <br />$7,600,000 <br />Total <br />$16,200,000 <br />$14,200,000 <br />The Authority had no revenues for the preceding year and has no assets. Any expenses of the Authority, <br />including but not limited to counsel fees, were paid by Cabarrus County. <br />Respectively submitted, <br />Kay one utt,�l PC ecretary <br />February 7, 201 <br />1 -1 <br />Attachment number 1 <br />Page 236 <br />