§47C-2  Determination of funded debt. Within ninety days after the first day of each fiscal year, the director offinance of each county shall ascertain and set forth in a tabular summary thetotal indebtedness of the county outstanding and unpaid as of the first day ofsuch fiscal year.  The summary shall include the following:

(1)  An itemization of the total principal amount ofall general obligation bonds, reimbursable general obligation bonds, revenuebonds, special assessment bonds, special purpose revenue bonds, and all otherbonds of the county outstanding and unpaid, including bonds which may beexcluded under clauses 1, 2, 3, 4, 5, 6, 8, and 9 of section 13 of Article VIIof the Constitution when determining the funded debt of the county for the purposesof that section together with a grand total of such total principal amounts.

(2)  The total principal amount of all bonds of theState required by clause (7) of section 13 of Article VII of the Constitutionto be included when determining the funded debt of the county for the purposesof that section.

(3)  A grand total of the total principal amounts setforth in the summary pursuant to paragraphs (1) and (2).

(4)  An itemization of the total of the principalamount of all general obligation bonds, reimbursable general obligation bonds,revenue bonds, special assessment bonds, and special purpose revenue bonds ofthe county outstanding and unpaid which may be excluded under clauses 1, 2, 3,4, 5, 6, 8, and 9 of section 13  of Article VII of the Constitution whendetermining the total funded debt of the county for the purposes of thatsection, together with a grand total of such total principal amounts.

(5)  The difference between the grand total principalamount set forth in the summary pursuant to paragraph (3) and the grand totalprincipal amount set forth in the summary pursuant to paragraph (4).

The director of finance shall also prepare andattach to the tabular summary such supporting schedules as may be required toset forth in detail the bonds included in the itemizations required byparagraphs (1) and (4).  Such supporting schedules shall also set forth or makereference to the relevant statutory, charter, ordinance, or other legalprovision, and the relevant figures of assessment collections, revenues, usertax receipts, cost of operation, maintenance and repair, net revenues, net usertax receipts, reimbursements to the general fund, and other financialinformation, justifying the inclusion of such bonds in the itemization requiredby paragraph (4).  The director of finance shall indicate in the supportingschedules whether the financial findings and figures are based upon the recordsof the director's office or upon audited statements and reports, and if basedupon the latter, shall identify in the schedules the audited reports andstatements. [L 1970, c 202, pt of §1; am L 1979, c 43, pt of §4; am L 1983, c64, §5; gen ch 1985]