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b(3) The amount of money held in sinking <br /> funds or otherwise for the payment <br /> of any part of the principal of gross <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. -0- <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 /> <br />b(5) Bonded debt included in gross debt <br /> and incurred, or to be incurred, for <br /> sanitary sewer system purposes to the <br /> extent that said debt is made deductible -0- <br /> by G.S. §159-55(b) ....................... $ .......... <br /> <br />b(6) 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 -0- <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 deducted) was or <br /> is to be incurred, to the extent that the <br /> special assessments, when collected, will be <br /> applied to the payment 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) .......... <br /> <br /> (c) NET DEBT <br /> <br />(c) NET DEBT, being the difference between <br /> the GROSS DEBT (a) and the DEDUCTIONS (b) $~,QQQ,QQQ <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 .................................. <br /> <br /> -2- <br /> <br /> <br />