Orange County NC Website
Browse       Search
Annual Debt Capacity Based on Current Debt Issuance Plan <br />^ Attachment 4 of Agenda Packet <br />^ Based on current schedule and assumptions, limited flexibility through fiscal year 2007-08 <br />^ Timing of currently programmed projects is critical to future capacity <br />^ Beginning fiscal year 2008-09, additional capacity realized <br />Potential Future Debt Considerations <br />^ Additional funds to complete C?CS Middle School #3 {including smart growth <br />initiatives) <br />^ Additional funds to complete CHCCS High School #3 <br />Water, sewer and roads for QCS Middle School #3, CHCCS High School #3, Twin <br />Creeks campus <br />^ Animal Shelter <br />^ Emergency Management Facility <br />Libraries <br />^ West 10 Soccer Build-Out <br />Emergency Communications Linkages <br />^ Information Technology Infrastructure <br />For every $1 million in debt, annual debt service equates to approximately $1Q0,000 per <br />year {'r <br />County Capital Funding Palicy <br />Attachment 7 of Agenda Packet <br />{Turquoise colored paper) <br />Capital Funding Sources <br />t U n restricted l <br />^ One-half cent sales taxes <br />^ North Carolina General Statutes require that 30 percent of Article 40 sales tax and 60 <br />percent of Article 42 sales taxes be earmarked for school capital projects or debt service on <br />debt issued for school projects <br />Capital Funding Sources <br />{Unrestricted) <br />^ Dedicated property tax revenue <br />$800,000 -amount equivalent to debt service payments for retired 1977 bonds <br />Equivalent of 2.7 cents on tax rate based on 1996-97 valuation <br />Amount necessary to retire all 1992 School bonds, a portion of the 1997 School and <br />County bonds, and all 2001 School and County bonds <br />$50,000 earmarked for Human Service automation projects <br />$25,000 far Utilities Extension Fund <br />Capital Funding Sources <br />(Restricted) <br />^ Schools <br />School Construction Impact Fees <br />Can be used to directly fund increased capacity {"new seats") or to retire debt service <br />Public School Building Funds <br />