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5. Bonded debt included in gross debt and <br />incurred, or to be incurred, for sanitary sewer <br />purposes (to the extent deductible under Section 159- <br />55(b) of the General Statutes). 1,200,000 <br /> <br />6. Uncollected special assessments levied <br />for local improvements for which any part of gross <br />debt (that is not otherwise deducted) was or is to be <br />incurred, to the extent that the special assessments <br />will be applied, when collected, to the payment of 0 <br />any part of the gross debt. <br />7. Estimate of special assessments ±o be <br />levied for local improvements for which any part of <br />gross debt (that is not otherwise deducted) was or is <br />to be incurred, to the extent that the special <br />assessments will be applied, when collected, to the <br />payment of any part of the gross debt. 0 <br />Total deductions (Sum of 1 through 7) $1,200,000 <br />C. Net Debt, being the difference between <br />Total Gross Debt (A) and Total Deductions (B). $140,163,029 <br />D. Appraised Value of property subject to <br />taxation, being the value from which the assessed <br />value last fixed for taxation was computed, as <br />revealed by the County tax records and certified <br />by the County Tax Assessor. $6,707,190,520 <br />E. Percentage that Net Debt bears to the <br />appraised value of property subject to taxation. 2.0897% <br />WITNESS my signature this /3~ day of December, 1999. <br />Kenneth T. Chavious <br />Finance Officer <br />Orange County, North Carolina <br />