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- ' b(2) Funding and refunding bonds <br /> authorized but not yet issued <br /> $ -0- <br /> b(3) The amount of money <br /> sinking funds or otherwise n for the payment of any part of the <br /> principal of gross debt other than <br /> debt incurred for water purposes or <br /> sanitary sewer purposes (to the <br /> extent that the bonds are de- <br /> ductible under G.S. §159-5 <br /> b(4) Bonded debt included in gross debt <br /> and incurred, or to be incurred, <br /> for water purposes . . . . . . <br /> b(5) Bonded debt included in gross debt - . . . . - . . - $ 150,000 <br /> and incurred, or to be incurred, <br /> for' sanitary sewer system purposes <br /> to the extent that said debt is made <br /> • <br /> deductible by G.S. §159-55(b) . . . . .. . <br /> b(6) Uncollected special assessments • • - _ - � • $ -o- <br /> heretofore levied for local im- <br /> provements for which any part of <br /> the gross debt (that is not <br /> otherwise deducted) was or is to <br /> be incurred to the extent that <br /> such assessments will be applied, <br /> when collected, to the payment of <br /> any part of the gross debt - - - . <br /> b('1) The . . ... . . . . . . . . . $ - - -=a- _ •- <br /> _-- amount, as estimated by the <br /> A , of special <br /> assessments to be levied for <br /> local improvements for which any <br /> part of the gross debt (that is not <br /> otherwise deducted) was or is to be <br /> incurred, to the extent that the <br /> special assessments, when collected, <br /> will be applied to the payment of any <br /> part of the gross debt - - <br /> (b) DEDUCTIONS, being the sum of b(1) , - • - . - - . . - - - - --•- <br /> b(2) , <br /> -b'(3) , -b(4) , b(5) , _b(6) and _ _ <br /> (c) NET DEBT <br /> (c) NET DEBT, being the difference <br /> between the GROSS DEBT (a) and <br /> the DEDUCTIONS (b) . . . . . . . . . . . . . . . . . . . . . . . . . $ -6. .-000_ _ <br /> (d) APPRAISED VALUE <br /> (d) APPRAISED VALUE of property subject <br /> • to municipal taxation before the <br /> application of any assessment ratio, <br /> being the value fixed in 1986 . <br /> • <br />