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<br />OFFICIAL STATEMENT
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<br />NEW ISSUE: BOOK-ENTRY-ONLY
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<br />Dated August -' 1999
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<br />In the opinion of Bond Counsel, the Bonds are excludable from gross income for federal income tax purposes under existing law, and
<br />the Bonds are not private activity bonds. See "TAX MATTERS" herein for a discussion of Bond Counsel's opinion, including a
<br />description of alternative minimmn tax consequences for corporations. The Authority will designate the Bonds as qualified tax-exempt
<br />obligations. See "Qualified Tu-Exempt Obligations".
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<br />DESCRIPTION OF BONDS
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<br />58,080,000
<br />LA PORTE AREA WATER AUTHORITY
<br />(Harris County, Texas)
<br />CONTRACT REVENUE REFUNDING BONDS, SERlES"1999
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<br />"QUALIFIED TAX-EXEMPT OBLIGATIONS"
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<br />The Bon~ will be dated September 15, 1999. Interest on the Bonds will accrue from such date and will be due on March 15,2000, and
<br />each September 15 and March 15 thereafter until maturity. The Bonds will be issued in fully registered form in integral multiples of
<br />$5,000, and principal and semiannual interest will be payable at Chase Bank of Texas, National Association, the paying agent/registrar
<br />(the "Registrar"), at its principal payment office in Dallas, Texas. The Bonds will be initially registered and delivered only to Cede &
<br />Co., the nominee of The Depository Trust Company ("DTC") pursuant to the Book-Entry-Only System described herein. Beneficial
<br />ownership of the Bonds may be acquired in denominations of $5,000 or integral multiples thereof. No physical delivery of the Bonds
<br />will be made to tbe purchasers thereof. Principal of and interest on the Bonds will be payable by the Registrar to Cede & Co., which
<br />will make distribution of the amounts so paid to the beneficial owners of the Bonds. See "Book-Entry-Only System" herein If the date of
<br />the payment of the principal or interest on a Bond shall be a Saturday, Sunday, legal holiday, or a day on which banking institutions in
<br />the city where the payment office of the Paying AgentlRegistrar is located are authorized by law or executive ordinances to close, then
<br />the date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or a day on which
<br />banking institutions are authorized to close and payment on such date shall have the same force and effect as if made on the original date
<br />payment was due.
<br />
<br />Year
<br />2002
<br />2003
<br />2004
<br />2005
<br />2006
<br />2007
<br />2008
<br />2009
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<br />Ootional Provisions
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<br />March IS
<br />Maturitv Schedule
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<br />Amount
<br />$370,000
<br />385,000
<br />405,000
<br />420,000
<br />445,000
<br />460,000
<br />485,000
<br />505,000
<br />
<br />Year
<br />2010
<br />2011
<br />2012
<br />2013
<br />2014
<br />2015
<br />2016
<br />2017
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<br />Amount
<br />$525,000
<br />550,000
<br />580,000
<br />615,000
<br />640,000
<br />670,000
<br />705,000
<br />320,000
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<br />All Bonds matwing on or after March 15,2011, are optional for redemption in whole or in part on March 15,2010, or any date thereafter
<br />at par and accrued interest to the date fixed for redemption. If less than all of the Bonds are redeemed at anytime, the particular
<br />Bonds to be redeemed shall be selected by the Authority in integral multiples of $5,000 within anyone maturity. The registered owner
<br />of any Bond, all or a portion of which has been called for redemption, shall be required to present same to the Registrar for payment of
<br />the redemption price on the portion of the Bond so called for redemption and a new Bond in the principal amount equal to the portion of
<br />such Bond not redeemed will be issued to such registered owner.
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