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(e) DEBT RATIO <br /> <br />(e) Percentage which the NET DEBT (c) bears to APPRAISED VALUE (d): 2.30% <br /> <br />The foregoing statement is true. <br /> <br /> Finance Officer <br />Cabarms County, North Carolina <br /> <br />STATE OF NORTH CAROLINA <br />COUNTY OF CABARRUS <br /> <br />Subscribed and sworn to before me this ~ day of August 2004. <br /> <br />My commission expires: <br /> <br />Notary Public <br /> <br /> I, Frankie F. Bonds, Clerk to the Board of Commissioners for the County of Cabarrus, <br />North Carolina, DO HEREBY CERTIFY that the foregoing is a true copy of a statement which <br />was filed with me at a meeting of said Board held on August 16, 2004, after the introduction and <br />before the public hearing on an order authorizing $94,900,000 School Bonds of said County and <br />an order authorizing $3,100,000 Community College Bonds of said County and that said <br />statement is open to public inspection in my office. <br /> <br />WITNESS my hand and the corporate seal of said County, this ~ day of August, 2004. <br /> <br />(SEAL) <br /> <br />Frankie F. Bonds <br />Clerk to the Board of Commissioners <br />for the County of Cabarrus, North Carolina <br /> <br />6 <br /> <br /> <br />