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ORANGE COUNTY, NORTH CAROLINA <br />NOTES TO THE FINANCIAL STATEMENTS <br />FOR THE YEAR ENDED JUNE 30, 2012 <br />6.Long-Term Obligations <br />The following is a summary o-term obligations for the year <br />ended June 30, 2012: <br />Compensated absences, net pension obligation, and other post-employment benefits liability for <br />governmental activities typically have been liquidated in the General Fund. <br />General long-term debt payable at June 30, 2012 is comprised of the following: <br />General Obligation Bonds. <br /> All general obligation bonds, serviced by the County's General Fund, <br />are collateralized by the full faith, credit, and taxing power of the County. Principal and interest <br />payments are appropriated when due. <br />58 <br /> <br />