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principal (68.5% in 10 years). The county's recently adopted Capital <br />Improvement Plan shows no additional borrowing needs over the next five years. <br />All outstanding debt is in a fixed -rate mode and the county is not party to any <br />interest rate swap agreements. <br />WHAT COULD MAKE THE RATING CHANGE- UP <br />-- Continued improvement to the county's financial position <br />-- Strengthening of demographic profile to levels more consistent with higher <br />rating categories <br />WHAT COULD MAKE THE RATING CHANGE- DOWN <br />-- Protracted structural budget imbalance <br />-- Depletion of General Fund balance <br />-- Deterioration of County tax base. <br />KEY STATISTICS: <br />2009 Population: 175,821 <br />FY 2010 Full Valuation: $21.3 billion <br />Full value per capita: $122,378 <br />Overall debt burden: 2.0% <br />FY 2010 General Fund balance: $65.6 million (32.1 % of General Fund revenues) <br />1999 Median Family Income as a % of state: 115.9% <br />1999 Per Capita Income as a % of state: 104.0% <br />G.O. debt outstanding: $119.8 million <br />Attachment number 3 <br />1 -1 Page 357 <br />