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General Obligation Debt Ratios.
<br /> Total
<br /> GO Debt
<br /> Total Assessed to Assessed GO Debt Total
<br />At July 1 GO Debt ~raluation Valuation Population Per Capita
<br />2002 $102,255,000 $ 9,437,306,885 1.08% 119,7461 $ 853.93
<br />2003 113,935,000 9,828,614,420 1.16 120,8811 942.54
<br />2004 107,585,000 10,084,687,332 1.07 120,9651 889.39
<br />2005 125,810,000 11,972,000,000 1.05 120,9651 1,040.05
<br />2006 156,585,000 11,972,000,000 1.31 120,9651 1,294.47
<br />Estimate of North Carolina Office of State Budget and l~rianagement
<br />Other Long-Term Commitments. The County currently has a variety of short-term
<br />financing agreements for vehicles and other equipment. In addition, the County has financed
<br />school and public buildings thtough installment financing agreements and the current debt
<br />ser~~ice requirements of these school and public buildings obligations are as follows:
<br />Fiscal Principal
<br />Year Principal and Interest
<br />2005-06 $5,078,223.62 $6,175,288.17
<br />2006-07 4,776,017.37 5,661,837.89
<br />2007-08 4,823,934.10 5,511,831.55
<br />2008-09 4,013,537.13 4,505,202.55
<br />2009-10 3, 449,3 88.96 3, 769,155.3 8
<br />2010-11 2,909,288.06 3,093,052.04
<br />2011-12 1,352,343.06 1,447,722.57
<br />2012-13 263,905.16 316,115.79
<br />2013-14 239,655.16 281,373.14
<br />2014-15 239,655.16 271,259.70
<br />2015-16 239,655.16 261,146.26
<br />2016-17 239,655.16 251,032.78
<br />2017-18 119,827.76 121,723.85
<br /> $27,745,085.86 $31,666,741.67
<br />Debt Outlook. The County has an extensive ten-year capital improvement program
<br />underway to provide goverrunental offices, judicial facilities, school facilities, parks and open
<br />space and affordable housing. Some of these facilities will require the incurrence of debt by the
<br />County. The County currently has $5,635,000 in voter approved bonds authorized and unissued
<br />that will be used to finance affordable housing and parks projects. The County anticipates
<br />entering into an installment financing certificates of participation transaction later in 2006 in the
<br />amount of between $15 million and $25 million for several projects. The County anticipates
<br />borrowings totaling approximately $15 million in fiscal years 2007 and 2008.
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