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11 <br /> 5. Bonded debt included in gross debt and <br /> • incurred, or to be incurred, for sanitary sewer purposes <br /> (to the extent deductible under Section 159-55(b) of the <br /> General Statutes). $ -O- <br /> 6. Uncollected special assessments levied for <br /> local improvements for which any part of gross debt (that <br /> is not otherwise deducted) was or is to be incurred, to the <br /> extent that the special assessments will be applied, when <br /> collected, to the payment of any part of the gross debt. $ -o- <br /> 7. Estimate of special assessments to be <br /> levied for local improvements for which any part of gross <br /> debt (that is not otherwise deducted) was or is to be <br /> incurred, to the extent that the special assessments will be <br /> applied, when collected, to the payment of any part of the <br /> gross debt. $ -0- <br /> Total deductions (Sum of 1 through 7) $ ..o_ <br /> C. Net Debt, being the difference between Total <br /> Gross Debt(A) and Total Deductions(B). $ 154,210,404 <br /> D. Appraised Value of property subject to <br /> taxation, being the value from which the assessed <br /> value last fixed for taxation was computed, as <br /> revealed by the County tax records and certifled by <br /> the County Tax Assessor. $ 5,153,275,662 <br /> E. Percentage that Net Debt bears to the <br /> appraised value of property subject to taxation. 2.99 % <br /> WITNESS my signature this day of August, 1997. <br /> Kenneth T. Chavious <br /> Finance Officer <br /> Orange County,North Carolina <br />