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CAB~RRUS COUNTT <br />STAT~T 00NCERNING S~IOOL INDEBTFD~,SS <br />I, Chas. N. Field, County AccoUntant of Cabar~us County, North <br />Carolina, do make and fi~e the following statement of the financial con- <br />dition of said County, having Been design~ted by the Bo~rd of Commission ;rs <br />for that purpose. Said statement includes a statement of debts incurred <br />and to be incurred for school purposes under orders either introduced or <br />passed, .,vhether evidenced by bonds, notes, or otherwise, and whether in- <br /> <br />curred by original creation of the debt or by assumption of debt, including <br />debt ~_ucurred by the County. Board of Education, and including debt to th, <br />State or any department thereof, but not including olbigations incurred <br />to meet appropriations in anticipation of revenues to an ~zuount not exce~d- <br />ing the amount of the last preceding tax levy for school purposes (exceplo <br />su.ch thereof as are to be funded under bond orders introduced or passed, <br />which obligations ~e included), nor including debt incurred in anticipa.~ <br />tion of the sale of any kind of bonds except funding and refunding bonds <br />(a) Assessed valuation of property as last fixed <br />for County taxation ................. $57,5~5,&99 <br />(b) Outstanding school debt ... $391.925..0~ <br />(c) Bonded school debt to be in- <br />curred under orders either <br />passed or introduced: <br />School Building Bonds ..... $ 42,000 <br />(d) The sums of items (b) and (c) ................. $ ~33,925.00 <br />(e) School sinking funds, being <br />money or investments thereof <br />pledged and held for the pay- <br />ment of principal of out- <br />standing school debt ...... $ None <br />(f) School credits, being prin- <br />cipal sums owing to the County <br />from school districts which are <br />pledged to and when collected <br />will be used in the retirement <br /> <br /> of outstanding school debt .. $53,692.00 <br /> <br />(g) Amount of unissued funding and <br />refunding bonds included in <br />gross debt ............... None <br />(h) The sum of items (e), (f) and (g) ..... .... $53,682.00 <br />(i) Net school debt, beim.~', the sum of <br />which item (d) exceeds item (h) ......... $380,243.00 <br />(j) The percentage that the net school <br />deb~ be~rs to s~.~id asse.,~sed valua- <br /> <br /> t i_ o~__,._;_..__ :.~ .:_...~ ~. ....... ~ ._ ?~..~_._..;.. ........... O, (~ ............................. <br /> <br /> <br />