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June 16, 2003 Page 171
<br />
<br />b(5)
<br />
<br />b(6)
<br />
<br />b(7)
<br />
<br />(b)
<br />
<br />(c)
<br />
<br />Bonded debt included in gross debt and incurred, or
<br />to be incurred, or sanitary sewer system purposes to
<br />the extent that said debt is made deductible by
<br />Subsection 159-55(b):
<br />
<br />Uncollected special assessments heretofore levied
<br />for local improvements for which any part of the
<br />gross debt (that is not otherwise deducted) was or
<br />is to be incurred, to the extent that such
<br />assessments will be applied, when collected, to the
<br />payment of any part of the gross debt:
<br />
<br />The amount, as estimated by the Finance Officer, of
<br />special assessments to be levied for local
<br />improvements for which any part of the gross debt
<br />(that is not otherwise deducted) was or is to be
<br />incurred, to the extent that the special
<br />assessments, when collected, will be applied to the
<br />payment of any part of the gross debt:
<br />
<br />DEDUCTIONS, being the sum of b(1), b(2), b(3), b(4),
<br />b(5), b(6) and b(7):
<br />
<br />(c) NET DEBT
<br />
<br />NET DEBT, being the difference between the GROSS
<br />DEBT (a) and the DEDUCTIONS (b):
<br />
<br />-0-
<br />
<br />-0-
<br />
<br />-0-
<br />
<br />($72,860,000)
<br />
<br />$144,579,559.88
<br />
<br />(d) APPRAISED VALUE
<br />
<br />(d)
<br />
<br />APPRAISED VALUE of property subject to County
<br />taxation before the application of any assessment
<br />ratio, being the value fixed in 2002:
<br />
<br />(e) DEBT RATIO
<br />
<br />$11,269,970,000
<br />
<br />(e) Percentage which the NET DEBT (c) bears to APPRAISED
<br /> VALUE (d):
<br />
<br /> The foregoing statement is true.
<br />
<br />1.28%
<br />
<br />/s/ Pamela S. Dubois
<br />
<br />Finance Officer
<br />Cabarrus County, North Carolina
<br />
<br /> CAB;LRRUS COUNTY, NORTH C~LROLINA
<br />Certificate as to Assessed Value of Property
<br />
<br /> The undersigned, Raymond B. White, the Interim Tax Assessor for
<br />Cabarrus County, hereby certifies that the assessed value of property subject
<br />to taxation by the County of Cabarrus, North Carolina, is $11,269,970,000
<br />this being the value fixed in 2002 for fiscal year 2001-02, and the value as
<br />revealed by the County tax records.
<br /> IN WITNESS WHEREOF, I have hereunto set my hand this 16th day of June,
<br />2003.
<br /> /s/ Raymond B. White
<br /> Cabarrus County Interim Tax Assessor
<br />
<br />(F-6) Cabarrus County Arena and Events Center - Midway Revisions - Mike Downs
<br />
<br /> Mr. Day reported that bids were received on the morning of June 16 for
<br />the first phase of improvements for the Midway at the Arena and Events
<br />Center. There were an insufficient number of bids for the general
<br />construction contract, and the Request for Bids will be readvertised on June
<br />18. He recommended that the Board meet on June 30 to consider the award of
<br />the general construction and electrical contracts for the Midway
<br />improvements.
<br />
<br /> UPON MOTION of Vice Chairman Suggs, seconded by Commissioner Carpenter
<br />and unanimously carried, the Board deferred consideration of the Midway
<br />improvements until a recessed meeting on June 30, 2003, at 6:30 p.m.
<br />
<br />(F-7) Designation of Voting Delegate to the National Association of Counties
<br />Annual Conference in Milwaukee, Wisconsin on July 11 - 15, 2003
<br />
<br /> UPON MOTION of Commissioner Privette, seconded by Vice Chairman Suggs
<br />and unanimously carried, the Board designated Chairman Freeman as the
<br />
<br />
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