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<br />City of La Porte, Texas
<br />Long Range Projection for the La Porte Development Corporation
<br />Section 48 1/2 Cent Sales Tax
<br />Method 1 - Issue Debt for Projects
<br />
<br />Projected
<br />2001-02
<br />
<br />Projected
<br />2000-01
<br />
<br />Projected
<br />1999-00
<br />
<br />Actual
<br />1998-99
<br />
<br />Projected
<br />2007-08
<br />
<br />Projected
<br />2006-07
<br />
<br />Projected
<br />2005-06
<br />
<br />Projected
<br />2004-05
<br />
<br />Projected
<br />2003-04
<br />
<br />Projected
<br />2002-03
<br />
<br />211.585
<br />
<br />,096.563
<br />5,791
<br />,102,354
<br />
<br />247,608
<br />
<br />,069.817
<br />5.161
<br />,074.978
<br />
<br />343,346
<br />
<br />,043,724
<br />6,039
<br />,049,763
<br />
<br />496,705
<br />
<br />,018,267
<br />8,374
<br />,026,642
<br />
<br />705,660
<br />
<br />993.432
<br />12.115
<br />,005.546
<br />
<br />968.248
<br />
<br />969.202
<br />17,211
<br />986,413
<br />
<br />881,633
<br />
<br />945,563
<br />23,616
<br />969,178
<br />
<br />875,817
<br />
<br />922,500
<br />21,503
<br />944,003
<br />
<br />45,706
<br />
<br />900.000
<br />21.361
<br />921.361
<br />
<br />o
<br />
<br />50.484
<br />222
<br />50,706
<br />
<br />Beg Working Capital Balance
<br />
<br />Plus Revenues:
<br />Sales Tax
<br />Interest
<br />Total Revenue
<br />
<br />e
<br />
<br />5.000
<br />o
<br />257,813
<br />355,250
<br />458,438
<br />,076,501
<br />
<br />5.000
<br />o
<br />266,438
<br />366.750
<br />472,813
<br />.111,001
<br />
<br />5.000
<br />o
<br />275,063
<br />378,250
<br />487,188
<br />145.501
<br />
<br />5,000
<br />o
<br />283,688
<br />389,750
<br />501,563
<br />,180,001
<br />
<br />5.000
<br />o
<br />292,313
<br />401,250
<br />515.938
<br />,214.501
<br />
<br />5,000
<br />o
<br />300,938
<br />412,750
<br />530.313
<br />,249,001
<br />
<br />5,000
<br />o
<br />309.563
<br />424.250
<br />143,750
<br />882,563
<br />
<br />5,000
<br />500,000
<br />318,188
<br />115,000
<br />o
<br />938.188
<br />
<br />5.000
<br />o
<br />86.250
<br />o
<br />
<br />o
<br />91.250
<br />
<br />5,000
<br />o
<br />o
<br />o
<br />o
<br />5,000
<br />
<br />Less Expenses:
<br />Operations
<br />Projects
<br />$3 issue in 99-00
<br />$4 issue in 00-01
<br />$5 issue in 01-02
<br />Total Expenses
<br />
<br />968,248
<br />
<br />881,633
<br />
<br />875,817
<br />
<br />45,706
<br />
<br />Ending Balance
<br />
<br />237,438
<br />
<br />211,585
<br />
<br />247,608
<br />
<br />343,346
<br />
<br />496,705
<br />
<br />705,660
<br />
<br />Assumptions:
<br />Annual growth of the 1/2 cent Sales Tax will be at 2.5% per year.
<br />Interest will be earned at 5% on average balance
<br />A debt issue of $3 million will occur in March 2000
<br />A debt issue of $4 million will occur in March 2001
<br />A debt issue of $5 million will occur in March 2002
<br />
<br />e
<br />
<br />be about 2009 before another debt issue could be supported.
<br />
<br />wi
<br />
<br />f these assumptions hold true.
<br />
<br />Debt issues are based on a 20 year term and an average interest rate of 5.75%.
<br />
<br />The $3 million issue in March 2000 is targeted for the Community Library.
<br />
<br />probably be for the Bay Area Boulevard extension.
<br />
<br />Projects for the $500,000 in FY 2000-2001 and the $5 million issue in February 2002 have not been identIfIed.
<br />
<br />wi
<br />
<br />The $4 million issue in February 2001
<br />
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