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Capital Assets
<br /> (net of depreciation)
<br /> As of June 30,2010 and 2009
<br /> Primary Government
<br /> Governmental Activities Business-type Activities Total
<br /> 2010 2009 2010 2009 2010 2009
<br /> Land $ 35,517,270 S 28,644,734 $ 753,877 $ 753,877 $ 36,271,147 $ 29,398,611
<br /> Infrastructure assets 223,637,430 226,557,289 - - 223,637,430 226,557,289
<br /> Ground and site improvements - - 75,089 78,843 75,089 78,843
<br /> Buildings and improvements 259,595,193 256,229,424 378,960 403,575 259,974,153 256,632,999
<br /> Equipment 54,046,284 49,486,543 11,435 12,956 54,057,719 49,499,499
<br /> Construction work in progress 184,784,462 100,347,656 184,784,462 100,347,656
<br /> Total $757,580,639 $661,265,646 $1,219,361 $1,249,251 $758,800,000 $662,514,897
<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 comprised of bonds of$275.2 million, State Revolving Fund
<br /> loans of$30.5 million and general obligation bond anticipation notes of$19.0 million. At the end
<br /> of the current fiscal year,the County had total bonded debt outstanding of$275.2 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$16.2 million(5 percent)during the current fiscal
<br /> year due to the regularly scheduled principal payments.
<br /> At the end of the fiscal year, the County maintained an"AA-"rating from Standard&Poor's,but
<br /> experienced a recalibration in ratings to an"Aa2"rating from Moody's and an"AA-"rating from
<br /> Fitch for general obligation debt.
<br /> State statutes limit the amount of general obligation debt the County may issue to 15 percent of
<br /> the total assessed value of all county real property as established for tax purposes on the last tax
<br /> assessment rolls. The current debt limitation for the County is$4.2 billion,which is in excess of
<br /> the County's outstanding general obligation debt. Currently the County's outstanding debt
<br /> represents seven percent of our debt limitation.
<br /> At the end of the current fiscal year, the County also had notes payable to the U.S.Department of
<br /> Agriculture,Farmers Home Administration amounting to$0.9 million.
<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 at the end of the current fiscal year is at 10.4
<br /> percent,which represents a slight decline from last year's rate at the same time of 11.5
<br /> percent.
<br /> • The number of visitors to the County for the current fiscal year was 1,234,507,which is
<br /> almost stable with the previous year's count of 1,229,268.
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