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(c) <br /> <br />b(1) <br /> <br />-$69,610,000- <br /> <br />b(2) -O- <br />b(3) -0- <br /> <br />b(5) -0- <br /> <br /> (b) DEDUCTIONS <br /> <br /> Funding and ,;funding bonds authorized by orders introduced <br /> but not yet ada )ted: <br /> Funding and r~.funding bonds authorized but not yet issued: <br /> The amount o~ money held in sinking funds or otherwise for the <br /> payment of an][ part of the principal of gross debt other than debt <br /> incurred for w~ater purposes or sanitary sewer purposes (to the <br /> <br />b(4) Bonded debt included in gross debt and incurred, or to be $3,250,000 <br /> incurred, for 4ter purposes: <br /> Bonded debt ~cluded in gross debt and incurred, or to be <br /> incurred, or s~nitary sewer system purposes to the extent that <br /> said debt is m~e deductible by G.S. Subsection 159-55(b): <br /> Uncollected sl[ecial assessments heretofore levied for local <br /> improvements for which any part of the gross debt (that is not <br /> otherwise dedulcted) was or is to be incurred, to the extent that <br /> such assessme~s will be applied, when collected, to the payment <br /> of any part oftlte gross debt: <br /> <br />b(7) The amount, '.~ estimated by the Finance Officer, of special -0- <br /> assessments to ibc levied for local improvements for which any <br /> part of the gro~.s debt (that is not otherwise deducted) was or is <br /> to be incurred, ito the extent that the special assessments, when <br /> collected, will l~e applied to the payment of any part of the <br /> gross <br /> debt: <br /> DEDUCTION~, being the sum of b(1), b(2), b(3), b(4), b(5), <br /> b(6) and b(7): <br /> <br /> 1 <br /> <br />b(6) -0- <br /> <br />Co) ($72,860,000) <br /> <br />(c) NET DEBT <br /> <br />NET DEBT, being the [lifference between the GROSS DEBT (a) and $144,579,559.88 <br />the DEDUCTIONS Co): <br /> <br /> <br />