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<br /> OTHER LONG-TERM COMMITMENTS
<br /> The County currently has a variety of short-term financing agreements for vehicles and other
<br /> equipment. In addition, the County has financed school and public buildings through installment
<br /> financing agreements and the current debt service requirements of these other financing agreements
<br /> are as follows:
<br /> Fiscal Principal
<br /> Year Principal and Interest
<br /> 2009-10 $ 9,228,814.01 $ 13,387,697.60
<br /> 2010-11 10,654,872.50 16,041,767.66
<br /> 2011-12 9,639,468.81 13,819,059.64
<br /> 2012-13 7,776,042.90 11,700,414.74
<br /> 2013-14 7,750,642.90 11,370,581.61
<br /> 2014-15 7,512,216.30 10,828,698.02
<br /> 2015-16 7,168,816.30 10,193,922.72
<br /> 2016-17 7,000,315.30 9,743,353.26
<br /> 2017-18 6,880,487.90 9,334,684.32
<br /> 2018-19 6,980,160.14 9,149,959.48
<br /> 2019-20 6,980,160.14 8,863,607.48
<br /> 2020-21 6,980,160.14 8,577,055.47
<br /> 2021-22 6,980,160.14 8,290,603.48
<br /> 2022-23 6,375,160.14 7,399,151.49
<br /> 2023-24 6,099,298.04 6,863,427.87
<br /> 2024-25 5,819,936.00 6,344,993.93
<br /> 2025-26 3,787,936.00 4,115,637.39
<br /> 2026-27 2,773,022.00 2,943,667.68
<br /> 2027-28 2.602.850.00 2.663.220.00
<br /> $128,689,417.66 $171,621,303.73
<br /> DEBT 0UTLQ0K
<br /> The County has an extensive ten-year capital improvement program underway to provide go-
<br /> vernmental offices,judicial facilities, school facilities,parks and open space and affordable housing.
<br /> Some of these facilities will require the incurrence of debt by the County. The County currently has
<br /> $6,900,000 in voter approved bonds authorized and unissued.
<br /> In addition to the use of bond proceeds, the ten-year capital plan calls for the combined use of
<br /> pay-as-you-go funds and installment purchases to fund capital.During the next two years the Coun-
<br /> ty plans to issue Alternative Financing(direct bank placement or Certificates of Participation)under
<br /> the Qualified School Construction Bond(QSCB)Program as well as other Alternative Financing and
<br /> loans. The total amount is estimated to be between$64-56.6 million.The issuance of$4.1 million of
<br /> QSCB financing is scheduled for December to construct a High School Arts Wing for the Chapel Hill
<br /> Carrboro City School System. Additional financings include up to $1.5 million for technology and
<br /> communications projects, $2.7 million for Parks and Open Space, $8-10 million for a land fill trans-
<br /> fer station, $3.3 million for a Middle School Auditorium for the Orange County School System and
<br /> $31 million for a new elementary school for the Chapel Hill Carrboro City School System. Debt ser-
<br /> vice on the landfill transfer station financing would be paid from enterprise fund revenue. In addi-
<br /> tion the County plans to seek a State loan of$3.5 million for sewer system construction which would
<br /> be repaid from general revenue of the County.
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