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November 29, 2000 <br /> <br />4 Report No. 217-II <br /> Cabarrus County <br /> <br />Liquor Revenue <br /> Cabarrus County receives 25% of the net profit from liquor stores operated by the City of Concord. <br />County revenue from this source amounted to $34,014 'in 1996-97; $37,613 in 1997-98 and $38,734 in <br />1998-99. <br /> <br />Indebtedness (8-15-2000) <br />Bonds- General $ 1,262,208 <br /> School 60,178,209 <br /> Water 7,699,583 <br />Installment Obligations 42,748,607 <br /> $111,888,607 <br /> Sinldng Funds None <br /> Net Debt (1.12%) <br /> <br />Per capita gross debt (Countywide only) <br /> <br />$111,888,607 <br />$ 895 <br /> <br />NOTE - We are not deducting the water bonds from gross debt inasmuch as water revenue is limited <br /> and no profits are contemplated to be available for the debt service requirements. <br /> <br />Underlying Tax Supported Indebtedness (Gross Figures) <br />Obligations on which Debt Service is Handled by the County: <br /> Water & Sewer District of Cabarrus County <br />Obligations on which Debt Service is Handled by Debtor Unit: <br /> Concord - City (county seat) <br /> Harrisburg - Town <br /> Kannapolis - City <br /> Mount Pleasant - Town <br /> Total gross underlying debt <br /> Total gross debt (County-wide and underlying) <br /> Per capita gross debt (County-wide and underlying) <br /> <br />$ 30,198,375' <br /> 2,008,599 <br /> 2,080,000 <br /> 690,967 <br /> <br /> 34,977,941 <br />$ 34,977,941 <br />$146;866,548 <br />$ 1,174 <br /> <br />Excludes revenue bonds. <br /> <br />Relative Debt Burden <br /> <br />Gross County-wide Debt <br /> Solid Waste Profits Capitalized (3 yr. avg.) $ <br /> Liquor Revenue Capitalized (3 yr. avg.) 367,870 <br /> <br />Hypothetical overall debt based on relative ability to pay (140%) <br />Hypothetical per capita overall debt burden <br /> <br />$ 111,888,607 <br /> <br /> 367,870 <br />$ 111,520,737 <br />$ 79,657,669 <br />$ 637 <br /> <br />NOTE - This section is inserted primarily for rating purposes. Outstanding debt is adjusted by deducting <br /> capitalized special revenues and adding proportionate overlapping obligations. The debt is <br /> further adjusted in accordance with certain resources of the unit so as to better reflect the burden <br /> it represents in relation to the normal North Carolina county. <br /> <br /> <br />