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Debi Service - continued <br />County's Debt Level for Fiscal Year 2013 -14 <br />Per County's Adopted <br />As Included in <br />Debt Management <br />Legal Debt Limit per <br />FY 2013 -14 <br />Policy <br />NC General Statute <br />Approved <br />Budget <br />Annual Debt Service Payments <br />as a Percentage of General Fund <br />No greater than 15% <br />N/A <br />13.64% <br />Expenditures <br />Total Outstanding Debt as a <br />Percentage of Total Assessed <br />No greater than 3% <br />No greater than 8% <br />1.38% <br />Valuation <br />Bond Ratings <br />Current bond ratings for the three rating agencies are as follows: <br />• Fitch — AAA with a positive outlook <br />• Standards and Poors — AAA with a positive outlook <br />• Moody's — Al with a positive outlook <br />WX -] <br />