OUTSTANDING DEBT
Fiscal Year 2008
ISSUE PRINCIPAL TO BE RETIRING IN FY 2008 OUTSTANDING
DATE SERIES AS OF 7/1/07 ISSUED PRINCIPAL INTEREST 6/30/2008
WATER & SEWER DEBT
2-01 Water & Sewer Refunding                   2,278,790           1,143,647                        95,709               1,135,143
2-01 Water                 47,600,000           2,300,000                   2,279,000             45,300,000
11-01 Revenue Bonds                    3,340,000              620,000                      115,385               2,720,000
5-04 Revenue Bonds                 23,745,000           1,680,000                      947,831             22,065,000
5-04 State Revolving Loan                   9,845,783              520,000                      239,096               9,325,783
2-05 State Revolving Loan                   3,958,771              197,939                      116,348               3,760,832
4-06 Morrisville Bonds                   2,365,000              280,000                        74,425               2,085,000
6-07 Revenue Bonds                  35,710,000              510,000                   1,508,622             35,200,000
  TOTAL WATER & SEWER 128,843,344 --- 7,251,586 5,376,416 121,591,758
GENERAL DEBT
4-96 Parks & Recreation                   1,370,000              200,000                        71,725               1,170,000
10-97 Fire Installment Purchase                        43,492                43,493                          1,050                             -
12-98 Parks & Recreation                   4,525,000              300,000                      190,050               4,225,000
10-99 Fire Installment Purchase                      495,817              198,328                        21,107                  297,489
2-01 Street Refunding                      401,210              201,353                        16,851                  199,857
2-01 Public Improvement                  12,400,000              900,000                      588,500             11,500,000
3-02 Fire Installment Purchase                      206,175                38,006                          7,946                  168,169
9-02 Town Hall/Hwy 55 COPS                 37,335,000           2,340,000                   1,485,923             34,995,000
5-03 Public Improvement                  33,080,000           2,000,000                   1,153,200             31,080,000
7-03 Fire Installment Purchase                      898,837              128,459                        23,006                  770,378
5-04 Fire Installment Purchase                      574,297                73,577                        19,896                  500,720
7-06 Public Improvement                  47,255,000                         -                   2,126,475             47,255,000
FY 07 Proposed Fire Installment Purchase                                 -                550,000                43,728                        27,500                  462,544
FY 07 Proposed Police Radio System                                 -             7,797,158              361,338                      389,858               7,074,482
FY 08 Proposed Op center expansion/transfer/recycling facility                                 -             3,193,004              147,971                      159,650               3,045,033
FY 08 Proposed Fire Installment Purchase                                 -                765,000                60,821                        38,250                  704,179
  TOTAL GENERAL DEBT 138,584,828 12,305,162 7,037,074 6,320,987 143,447,851
     TOTAL  $       267,428,172  $    12,305,162  $  14,288,660  $          11,697,403  $   265,039,609
TOTAL PRINCIPAL PLUS INTEREST  TO BE RETIRED IN FY 2008:   $25,986,063
DEBT LIMIT & LEGAL DEBT MARGIN
(Estimated) (Budgeted)
As of 6/30/07 As of 6/30/08
*Net assessed value  $      12,945,006,410  $      13,688,139,194
**Debt limit - 8% of total assessed value            1,035,600,512            1,095,051,135
Less: Amount of debt applicable to debt limit 
   (Net bonded debt)               156,417,899               159,448,120
Less: G.O. bonds authorized, not issued               253,910,000               246,500,000
Legal debt margin  $           625,272,613      $           689,103,015
Text Box: * Assessed values are estimated for FY 2007 and budgeted for FY 2008. ** Debt limit: The Town is subject to the Local Government Bond Act of North Carolina which limits the amount of net bonded debt the Town may have outstanding to 8% of the appraised value of property subject to taxation.