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(b) DEDUCTIONS <br /> b(1) Funding and refunding bonds <br /> authorized by orders introduced $ <br /> but not yet adopted -0- <br /> b(2) Funding and refunding bonds <br /> authorized but not yet issued $ -0- <br /> b(3) The amount of money held in <br /> sinking funds or otherwise for <br /> 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. §159-55 (b) ) <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 <br /> and incurred, or to be incurred, <br /> for sanitary sewer system purposes <br /> to the extent that said debt is made <br /> deductible by G.S. §159-55 (b) $ -0- <br /> b (5) Uncollected special assessments <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 -0_ <br /> any part of the gross debt $ <br /> b (7) The amount, as estimated by the <br /> Finance Director , 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 $ -0 <br /> (b) DEDUCTIONS, being the sum of b(1) , <br /> b (2) , b (3) ,b t um <br /> b(4) , b (5) b (5)b � <br /> and <br /> b(7) $ -0�- <br /> (7) <br /> (c) NET DEBT <br /> (c) NET DEBT, being the difference <br /> between the GROSS DEBT (a) and 35 <br /> the DEDUCTIONS (b) $ . x 37./.5P <br />