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OUTSTANDING GENERAL OBLIGATION DEBT 34
<br /> Principal Outstanding as of
<br /> June 30, June 30, June 30, October 31,
<br /> General Obligation Bonds 2007 2008 2009 2009
<br /> School Bonds $ 53,388,345 $ 61,112,944 $ 48,837,544 $ 48,837,5441
<br /> Refunding Bonds 53,695,000 49,540,000 45,435,000 45,435,000
<br /> Sanitary Sewer Bonds 1,114,048 1,071,068 1,028,088 1,028,088
<br /> Other Bonds 31.017,607 28.665.988 26.114.368 26.114.3681
<br /> Total General Obligation
<br /> Debt Outstanding $139,216,0002 $130,290,000 2 $121,415,000 2 $121,415,000 2
<br /> Latest Bonds Issued:
<br /> •2005-06 $29,186,000 General Obligation Public Improvement Bonds, Series 2005A, 12.56
<br /> years average maturity, 4.1459%true interest cost.
<br /> $29,365,000 General Obligation Refunding Bonds, Series 2005B, 9.76 years average
<br /> maturity, 3.8806%true interest cost.
<br /> lA portion of these bonds will be paid and refunded with the proceeds of the Bonds now being of-
<br /> fered.See"the Refunding Plan"herein.
<br /> 2This amount does not include refunded bonds with respect to which an escrow agent holds in trust
<br /> certain obligations of, or obligations the principal of and interest on which are unconditionally guar-
<br /> anteed by, the United States of America,which mature at such times and in such amounts and bear
<br /> interest payable at such times and in such amounts so that sufficient moneys will be available, to-
<br /> gether with cash deposited with such escrow agent,to pay when due all principal of and interest and
<br /> any premium on the refunded bonds to and including their respective maturities or dates of redemp-
<br /> tion.
<br /> GENERAL OBLIGATION DEBT RATIOS
<br /> Total
<br /> GO Debt Total
<br /> GTotal Assessed to Assessed GO Debt
<br /> At July l O Debt! Valuation Valuation Population= Per Capita
<br /> 2005 $125,810,000 $10,075,972,003 1.25% 121,991 $1,031.31
<br /> 2006 148,176,000 12,330,315,189 1.20 123,766 1,197.22
<br /> 2007 139,215,000 .12,581,220,079 1.11 127,344 1,093.22
<br /> 2008 130,290,000 12,833,591,710 1.02 129,296 1,007.69
<br /> 2009 121,415,000 15,369,119,201 .79 129,296 939.05
<br /> After Bonds now
<br /> offered are issued $ 3.4 $16,369,119,201 % 129,296 $
<br /> 'Does not include refunded bonds as described under"Outstanding General Obligation Debt"above.
<br /> 2Estimate of North Carolina Office of State Budget and Management.
<br /> sDoes not include the Bonds to be Refunded as described under"The Refunding Plan"herein.
<br /> 4The principal amount of the Refunding Bonds now being offered is subject to change as described in
<br /> the Notice of Sale.
<br /> • 16
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