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t <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) $ <br /> b(6) 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 <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 $ <br /> (b) DEDUCTIONS, being the sum of b(l) , <br /> b(2) , b(3) , b(4) , b(5) , b(6) and <br /> b(7) $. . . 200.000. . <br /> (c) NET DEBT <br /> (c) NET DEBT, being the difference <br /> between the GROSS DEBT (a) and <br /> the DEDUCTIONS (b) $. 35,281 :250. . <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 1988 $ 3:3gZ,733.070 <br /> -3- <br />