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<br />AUgust 16, 2004
<br />
<br />DRAFT
<br />
<br />Pa'ðe 588
<br />
<br />b(3)
<br />
<br />The amount of money held in sinking' funds or
<br />otherwise for the payment of any part of the
<br />principal of gross debt other than debt incurred for
<br />water purposes or sanitary sewer purposes (to the
<br />159-55 (b» :
<br />
<br />Bonded debt included in gross debt and incurred, or
<br />to be incurred, for water purposes:
<br />
<br />$4,782,108
<br />
<br />b(4)
<br />
<br />b(5)
<br />
<br />Bonded debt included in gross debt and incurred, or
<br />tò be incurred, or sanitary sewer system purposes to
<br />the extent that said debt is made deductible by G. S.
<br />Subsection 159-55(b):
<br />
<br />Unco11ecte~ special assessments heretofore levied for
<br />local imp~ovements for which any part of the gros8
<br />debt (that is not otherwise deducted) was or is to be
<br />incurred, to the extent that luch allessment. will be
<br />applied, when collected, to the payment of any part
<br />of the groìs debt:
<br />
<br />b(6)
<br />
<br />b(7)
<br />
<br />The amount, as estimated by the Finance Officer, of
<br />special assessments to be levied for local
<br />improvements for which any part of the gross debt
<br />(that is not otherwise deducted) was or is to be
<br />incurred, to the extent that the special assessments,
<br />when collected, will be applied to the payment of any
<br />part of th, gross debt:
<br />
<br />DEDUCTIONS, being the sum of b(l), b(2), b(3), b(4),
<br />b(5), b(6) and b(7):
<br />
<br />($24,047,108)
<br />
<br />(b)
<br />
<br />(c)
<br />
<br />NET DEBT
<br />
<br />(c)
<br />
<br />NET DEBT, being the difference between the GROSS
<br />DEBT (a) and the DEDUCTIONS (b):
<br />
<br />$269,864,603
<br />
<br />(d)
<br />
<br />APPRAISED VALUE
<br />
<br />(d)
<br />
<br />APPRAISED VALUE of property subject to County
<br />taxation before the application of any assessment
<br />ratio, being the value fixed in 2002:
<br />
<br />$11,689,948,568
<br />
<br />(e)
<br />
<br />DEBT RATIO
<br />
<br />(e)
<br />
<br />Percentage which the
<br />APPRAISED 'VALUE (d):
<br />
<br />NET
<br />
<br />(c)
<br />
<br />bears
<br />
<br />DEBT
<br />
<br />to
<br />
<br />2.30'
<br />
<br />The foregoing statement is true.
<br />
<br />/s/ Pamela S. Dubois
<br />Finance Officer
<br />Cabarrus County, North Carolina
<br />
<br />COUNTY OF CABARRUS, NORTH CAROLINA
<br />Certificate as to Assessed Value of Property
<br />
<br />The undersivned,' J. Brent Weisner, the' County Assessor for Cabarrus
<br />County, hereby c.rtifies that the uses sed value of property subject to
<br />taxation by Cabartus County is $11,689,948,568 this being the value fixed in
<br />[2003] for fiscal year [2003 - 2004] and the value as revealed by the County
<br />tax records. .
<br />IN WITNESS WHEREOF, I have hereunto set my hand this 4th day of August,
<br />
<br />2004.
<br />
<br />lei J. Brent Weisner
<br />Cabarrus County Assessor
<br />
<br />Steve Cordell, Bond Counsel, reviewed the two bond orders relating to
<br />the school bonds and community college bonds. He outlined the steps
<br />nece.sary to place the bond issue on the November ballot.
<br />
<br />VPOH MOTtO. of Commissioner Carpenter, seconded by Commissioner
<br />Privette and unanimously carried, the Board adopted the 'Order Authorizing
<br />$94,90Q,000.00Schoo1 BondsN.
<br />
<br />VPOH MOTtO. of Commissioner ~rivette, seconded by Commissioner
<br />Carpenter and unanimously carried, the -Board adopted the 'Order Authorizing
<br />$3,100,000.00 Community College BondsN.
<br />
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