Laserfiche WebLink
195 <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 />(c) <br /> <br /> (c) NET DEBT <br />NET DEBT, being the difference between <br />the GROSS DEBT (a) and the DEDUCTIONS (b) <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 1987 ................................... <br /> <br />(e) <br /> <br /> (e) DEBT RATIO <br />Percentage which the NET DEBT (c) bears to <br />the APPRAISED VALUE (d) ..................... <br /> <br />$14,500,000 <br /> <br />$39,000,000 <br /> <br />$2,977,507,583 <br /> <br />1. 3 % <br /> <br />The foregoing statement is true. <br /> <br />STATE OF NORTH CAROLINA ) <br /> ) SS.: <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 5th day of October, 1987. <br /> /s/ Cathie Keller-Straub <br /> Notary Public <br />My commission expires January 26~ 1991 <br /> <br /> Chairman Lentz stated that the regular meeting scheduled for 9:30 A.M. on <br />Monday, November 2, 1987, would be rescheduled to 3:00 P.M. on November 2, <br />1987. <br /> Mr. Donald L. McAvoy, CPA, presented an appeal on a late listing penalty <br />charged to Yorke and Wadsworth Company. He explained that he and another <br />member of his staff had mailed the listing for Yorke and Wadsworth in an <br />envelope with a number of other listings and that the Tax Assessor's Office <br />had no record of having received the listing. <br /> Motion was made by Commissioner Payne and seconded by Chairman Lentz that <br />the appeal by Mr. Donald L. McAvoy be denied. <br /> Chairman Lentz requested that Mr. McAvoy and Mr. Terry Rowland, Tax <br />Assessor, to go to the Tax Assessor's Office to check records to determine if <br />the other listings mailed in the envelope with the Yorke and Wadsworth tax <br />listing were received by the Tax Assessor's Office. He further requested that <br />they report their findings to the Board later in the meeting. <br /> UPON MOTION of Chairman Lentz, seconded by Commissioner Hamby and unani- <br />mously carried, the Board tabled the motion by Commissioner Payne to deny the <br />appeal by Mr. Donald L. McAvoy until later in the meeting. <br /> Mr. Terry L. Rowland, Tax Assessor, reconmmended that he and the County <br />Attorney be allowed to draft a resolution to be presented at the next session <br />of the General Assembly whereby the Board of Commissioners would delegate the <br />authority to the Board of Equalization and Review to handle appeals as permitted <br />in G.S. 105-312(k). None of the Board members expressed opposition to this <br />recommendation. <br /> UPON MOTION of Commissioner Melvin, seconded by Chairman Lentz and <br />unanimously carried, the Board set a public hearing for 7:30 P.M. on Monday, <br />November 16, 1987, for the readoption of the local option sales taxes and <br />directed that a notice of the public hearing be published. <br /> <br /> <br />