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March 20, 1996 2
<br />
<br />Underlying Tax Supported Indebtedness a (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 />
<br />Concord - City (county seat)
<br />Harrisburg - Town
<br />Kannapolis - City
<br />Mount Pleasant - Town
<br /> Total gross underlying debt
<br />
<br />$ 25,609,675
<br />532,800
<br />23,249,356
<br />491,844
<br />
<br />Total gross debt (County-wide and underlying)
<br />Per capita gross debt (County-wide and underlying)
<br />
<br />* Excludes revenue obligations.
<br />
<br />Report No. 217-HH
<br /> Cabarrus County
<br /> North Carolina
<br />
<br />$ 1,664,019
<br />
<br /> 49,883,675
<br />$ 51,547,694
<br />$ 117,256,166
<br />$ 1,094
<br />
<br />RELATIVE DEBT BURDEN
<br />
<br />Gross County-wide Debt
<br /> Landfill Profits Capitalized (3 yr. avg.) $ 6,983,983
<br /> Liquor Revenue Capitalized (3 yr. avg.) 516,667
<br />
<br />Hypothetical overall debt based on relative ability to pay (117%)
<br />Hypothetical per capita overall debt burden
<br />
<br />$ 65,708,472
<br />
<br /> 7,500,650
<br />$ 58,207,822
<br />$ 49,750,275
<br />$ 464
<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 further
<br /> adjusted in accordance with certain resources of the unit so as to better reflect the burden it represents in
<br /> relation to the normal North Carolina county.
<br />
<br />COUNTY ENTERPRISE SYSTEMS
<br />
<br />Solid Waste Enterprise
<br /> Caborms County operates a solid waste enterprise system for receipt and disposal of solid
<br />waste, and separation for recycling purposes. The County landfill is expected to be closed about
<br />December 31, 1997, and plans are indefinite as to whether the County will construct new lined
<br />cells or seek other disposal options. The tipping fee is $28.00 per ton and lesser amounts are
<br />charged for smaller residential loads.
<br /> Operation of the solid waste system was as follows:
<br /> 1992-93
<br />
<br /> 1993-94 1994-95
<br />Operating Revenue $ 1,669,294 $ 1,733,075 $ 1,759,220
<br />Operating Expense~ 747,505 910,402 963,646
<br />Operating Profit $ 921,789 $ 822,673 $ 795,574
<br />Improvements (fi.om operating revenue) 10,561 88.736 345,544
<br />Net Profit (before debt service) $ 911,228 $ 733,937 $ 450,030
<br />* Depreciation excluded
<br />
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