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b(2) Funding and refunding bonds <br /> authorized but not yet issued ............ $ -0- <br /> <br />b(3) The amount of money held in sinking <br /> funds or otherwise for the payment <br /> of any part of the principal of gros~ <br /> debt other than debt incurred for <br /> water purposes or sanitary sewer <br /> purposes (to the extent that the <br /> bonds are deductible under G.S. <br /> §159-55(b)) .............................. $ .......... <br /> <br />b(4) Bonded debt included in gross debt <br /> and incurred, or to be incurred, <br /> for water purposes ...................... $14,500,000' <br />b(5) Bonded debt included in gross:debt <br /> and inourred, or to be incurred, for <br /> sgnitary sewer system purposes to the <br /> extent that said debt is made deductible <br /> by G.S. §159-55(b) ...................... $ .......... <br /> <br />b(~) Uncollected special assessments heretofore <br /> levied for local improvements for which <br /> any part of the gross debt (that is not <br /> otherwise deducted) was or is to be incurred, <br /> to be extent that such assessments will be <br /> applied, when collected, to the payment of <br /> any part of the gross debt .............. $ .......... <br /> <br />b(7) The amount, as estimated by the , <br /> of special assessments to be levied fOr local <br /> improvements for which any part of the gross <br /> debt (that is not otherwise dsducted) was or <br /> is to be incurred, to the extent that the <br /> special assessments, when collected, will be <br /> applied to the pa..vment of any part of the <br /> gross debt .............................. $ .......... <br /> <br /> (b) DEDUCTIONS, being the sum of b(1), b(2), <br /> b(3), b(4), b(5), b(6) and b(7) ......... $~,500,000 <br /> <br /> . (c) 'NET DEBT <br /> <br />(c) NET DEBT, being the difference between <br /> the GROSS DEBT (a) and the DEDUCTIONS (b) $35,0U0,UOQ <br /> <br /> (d) APPRAISED VALUE <br /> <br />(d) APPRAISED VALUE of property subject to <br /> municipal taxation before the application of <br /> any assessment ratio, being the value fixed <br /> in 1987 ................................. SE,9~E,~3~,E~3 <br /> <br /> (e) DEBT RATIO <br /> <br />(e) Percentage which the NET DEBT (c) bears to <br /> the APPRAISED VALUE (d) ................ t. EO % <br /> <br /> <br />