Laserfiche WebLink
36 <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 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. <br /> §159-55(~) .............................. <br /> <br />-0- <br /> <br />b(4) Bonded debt included in gross debt <br /> and incurred, or to be incurred, <br /> for water purposes ..................... <br /> <br />-0- <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 <br /> by G.S. §159-55(b) .................... <br /> <br />-0- <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 <br /> any part of the gross debt ............. <br /> <br />-0- <br /> <br />b(7) The amount, as estimated by the Finance Director, <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 />-0- <br /> <br />(c) <br /> <br /> (c) NET DEBT <br />NET DEBT, being the difference between <br />the GROSS DEBT (a) and the DEDUCTIONS (b) <br /> <br />$23,260,000 <br /> <br />(d) <br /> <br /> (d) APPRAISED VALUE <br />APPRAISED VALUE of property subject to <br />municipal taxation before the application of <br />any assessment ratio, being the value fixed <br />in 1986 ................................... <br /> <br />$2,877,651,496 <br /> <br />(e) <br /> <br /> (e) DEBT RATIO <br />Percentage which the NET DEBT (c) bears to <br />the APPRAISED VALUE (d) ..................... <br /> <br />· 81 % <br /> <br />The foregoing statement is true. <br /> <br />STATE OF NORTH CAROLINA ) <br /> ) S$.: <br />COUNTY OF CABARRUS ) <br /> <br />/s/ Blair D. Bennett <br /> <br /> Finance Officer <br />for the County of <br />Cabarrus, North Carolina <br /> <br />Subscribed and sworn to before me this 2nd day of February, 1987. <br /> /s/ Cathie Keller-Straub <br /> Notary Public <br />My commission expires January 26~ 1991 <br /> <br /> <br />