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63 <br /> AVAILABLE SOURCES FOR PAYMENT <br /> GENERAL <br /> The County may pay its obligations under the Trust Agreement from any source of funds,including <br /> revenues generated by the projects financed under the Trust Agreement and other facilities in the County, <br /> available to it in each year and appropriated therefor until maturity of the 2020 Bonds. <br /> GENERAL FUND REVENUES <br /> The County's general fund revenues for the fiscal year ended June 30, 2019 were approximately <br /> $220.7 million and for the fiscal year ending June 30,2020 are budgeted to be$225.2 million.General fund <br /> revenues are derived from various sources,including property taxes(which account for approximately 72% <br /> of the general fund revenues), sales taxes,fees and charges,as well as intergovernmental revenues. For the <br /> fiscal year ended June 30,2019,the County imposed a property tax of$0.8504 per$100 of assessed value, <br /> all of which was appropriated to the General Fund by the County's Board of Commissioners. For the fiscal <br /> year ending June 30, 2020, the County will impose a property tax of$0.8679 per$100 of assessed value. <br /> A rate of$0.8504 per$100 of assessed value in the fiscal year ended June 30,2019 generated approximately <br /> $158.9 million. A rate of$0.8654 per $100 of assessed value in the fiscal year ending June 30, 2020 is <br /> estimated to generate approximately$162.9 million.The General Statutes of North Carolina permit counties <br /> to impose property taxes of up to $1.50 per $100 of assessed value for certain purposes without the <br /> requirement of a voter referendum. See Appendix B hereto for a description of the uses of the County's <br /> general fund revenues for the fiscal year ended June 30,2019. <br /> THE PLAN OF FINANCE <br /> The 2020 Bonds are being issued to provide funds to (1) finance the acquisition, construction, <br /> equipping and improvement of certain County facilities as further described below and(2) finance certain <br /> costs incurred in connection with the execution and delivery of the 2020 Bonds. <br /> THE PROJECTS <br /> Proceeds of the 2020 Bonds will be used to finance a variety of County projects. The County has <br /> adopted a practice of completing an annual financing to finance a broad range of acquisitions and <br /> improvements, so as to reduce its frequency of transactions and to handle projects that do not lend <br /> themselves conveniently to separate financings. The projects included in the current financing can be <br /> summarized, and the current estimates of the costs thereof, as follows: <br /> 9 <br />