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Capita Assets
<br /> (net of depreciation)
<br /> June 30, 2020 and 2019
<br /> Primary Government
<br /> Governmental Activities Business-type Activities Total
<br /> 2020 2019 2020 2019 2020 2019
<br /> Land and improvements $ 278,888,359 $263,470,318 $753,877 $753,877 $ 279,642,236 $264,224,195
<br /> Infrastructure assets 296,257,213 312,878,757 - - 296,257,213 312,878,757
<br /> Ground and site improvements - - 44,852 49,199 44,852 49,199
<br /> Buildings and improvements 635,602,987 627,746,572 1,032,447 538,410 636,635,434 628,284,992
<br /> Easements 11,116,725 6,250,078 - - 11,116,725 6,250,078
<br /> Equipment 58,412,276 59,337,103 86,717 24,068 58,498,993 59,361,171
<br /> Construction work in progress 80,330,851 58,455,811 - - 80,330,851 58,455,811
<br /> Total $1,360,608,411 $1,328,139,639 $1,917,893 $1,365,554 $1,362,526,304 $1,3290504,193
<br /> Additional information on the County's capital assets can be found in note 6 to the basic financial
<br /> statements.
<br /> Long-term debt. Long-term debt is primarily comprised of bonds of $359,2 million, State
<br /> Revolving Fund loans of $37.4 million and Bond Anticipation Notes of $30.0 million. At the end
<br /> of the current fiscal year, the County had total bonded debt outstanding of $359.2 million. This
<br /> entire amount was comprised of general obligation bonds which are backed by the full faith and
<br /> credit of the County.
<br /> The County's total bonded debt decreased by $23.2 million (6 percent) during the current fiscal
<br /> year due to the retirement of that amount of bonds.
<br /> At the end of the fiscal year,the County held an "AA" rating from Standard & Poor's, an "AA+"
<br /> rating from Fitch and an"Aa2"rating from Moody's for general obligation debt.
<br /> State statutes limit the amount of general obligation debt the County may issue up to 15 percent
<br /> of the total assessed value of all county real property as established for tax purposes on the last
<br /> tax assessment rolls. The current debt limitation for the County is $5.0 billion, which is in excess
<br /> of the County's outstanding general obligation debt. Currently the County's outstanding debt
<br /> represents 6 percent of our debt limitation.
<br /> Additional information on the County's long-term debt can be found in note 10 to the basic
<br /> financial statements.
<br /> ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES
<br /> The unemployment rate for the County for the current fiscal year is at approximately 13.2
<br /> percent,which is 9 percent higher than at the end of the prior fiscal year. This increase is
<br /> a result of the current COVID-19 pandemic that is plaguing the world.
<br /> The number of domestic and international visitors to the County for the current fiscal
<br /> year was approximately 1.29 million,with an approximately 23 percent decrease from the
<br /> previous year's count of 1.67 million.
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