OUTSTANDING DEBT
Fiscal Year 2009
ISSUE PRINCIPAL TO BE RETIRING IN FY 2009 OUTSTANDING
DATE SERIES AS OF 7/1/08 ISSUED PRINCIPAL INTEREST 6/30/2009
WATER & SEWER DEBT
2-01 Water & Sewer Refunding                   1,135,143           1,105,384                        47,676                    29,759
2-01 Water                 45,300,000           2,300,000                   2,181,250             43,000,000
11-01 Revenue Bonds                    2,720,000              645,000                        92,913               2,075,000
5-04 Revenue Bonds                 22,065,000           1,665,000                      899,738             20,400,000
5-04 State Revolving Loan                   9,200,900              511,161                      222,662               8,689,739
2-05 State Revolving Loan                   3,760,832              197,939                        82,926               3,562,893
4-06 Morrisville Bonds                   2,085,000              275,000                        67,425               1,810,000
6-07 Revenue Bonds                  35,200,000              515,000                   1,505,188             34,685,000
1-09 Proposed Water and Sewer Bonds                                 -           13,000,000                         -                      292,500             13,000,000
6-09 Proposed Revenue Bonds                                 -           20,000,000                         -                                 -             20,000,000
  TOTAL WATER & SEWER 121,466,875 33,000,000 7,214,484 5,392,278 147,252,391
GENERAL DEBT
4-96 Parks & Recreation                   1,170,000              200,000                        61,325                  970,000
12-98 Parks & Recreation                   4,225,000              300,000                      177,450               3,925,000
10-99 Fire Installment Purchase                      297,489              198,328                        11,726                    99,161
2-01 Street Refunding                      199,857              194,616                          8,394                      5,241
2-01 Public Improvement                  11,500,000              900,000                      550,250             10,600,000
3-02 Fire Installment Purchase                      168,169                39,556                          6,395                  128,613
9-02 Town Hall/Hwy 55 COPS                 34,995,000           2,335,000                   1,425,150             32,660,000
5-03 Public Improvement                  31,080,000           2,000,000                   1,113,200             29,080,000
7-03 Fire Installment Purchase                      770,378              131,890                        19,574                  638,488
5-04 Fire Installment Purchase                      500,720                76,233                        17,240                  424,487
7-06 Public Improvement Bonds                 47,255,000           1,800,000                   1,772,063             45,455,000
1-09 Proposed Public Improvement Bonds                                 -           28,000,000                         -                      630,000             28,000,000
FY 09 Proposed Fire Installment Purchases                                 -             1,315,000              131,500                        72,325               1,183,500
FY 09 Proposed Yard/Waste Transfer Station                                 -             1,428,000                         -                                 -               1,428,000
FY 09 Proposed Fire Pumper Replacement                                 -             1,080,000                         -                                 -               1,080,000
  TOTAL GENERAL DEBT 132,161,613 31,823,000 8,307,123 5,865,092 155,677,490
     TOTAL  $       253,628,488  $    64,823,000  $  15,521,607  $          11,257,370  $   302,929,881
TOTAL PRINCIPAL PLUS INTEREST  TO BE RETIRED IN FY 2009:   $26,778,977
DEBT LIMIT & LEGAL DEBT MARGIN
(Estimated) (Budgeted)
As of 6/30/08 As of 6/30/09
*Net assessed value  $      13,878,131,421 [1]  $      19,497,885,003 [2]
**Debt limit - 8% of total assessed value            1,110,250,513            1,559,830,800
Less: Amount of debt applicable to debt limit 
   (Net bonded debt)               148,036,999               202,761,846
Less: G.O. bonds authorized, not issued               253,910,000               212,910,000
Legal debt margin  $           708,303,514      $        1,144,158,954
*  Assessed values are estimated for FY 2008 and budgeted for FY 2009. ** 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.
(A) Net bonded debt calculation:
(Estimated) (Budgeted)
As of 6/30/08 As of 6/30/09
General govt  $132,161,613 155,677,490
Utility  61,481,875 90,092,391
193,643,488 245,769,881
Deductions: water bond debt: (45,606,489) (43,008,035)
148,036,999 202,761,846
(B) Bonds authorized, not yet issued:
Water system bonds $7,410,000 ---
Parks and recreation bonds 28,095,000 23,095,000
Street bonds 98,405,000 85,405,000
Wastewater bonds 110,000,000 104,410,000
Open space bonds  10,000,000 ---
253,910,000 212,910,000
[1]
PLiguori:
Need Budget to Update
[2]
PLiguori:
Need Budget to Update
[3]
pliguori:
Deduct Water as it is considered self-supporting