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<br />U){AS MUNiCiPAL ~(POaTS
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<br />Compil." ...d PuWi.hecl by
<br />MUNICIPAL ADVISORY COUNCIL TEXAS
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<br />e08 CITY NATIONAL ."NIe DUILDINO
<br />AUSTIN. TEXAS 7.'701
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<br />AS OF APRIL 28, 1980 THE CITY OF LOMAX WILL 8E CONSOLIDATED
<br />WITH THE CITY OF LA PORTE. NO FURTHER TMRS ARE TO BE PREPARED
<br />ON THE CITY OF LOMAX.
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<br />FINANCIAL STATEMENT (As of September 30, 1979*)
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<br />Assessed Valuation, 1979 (80% of Actual)
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<br />Genera 1 Ob 1 i qat i on Oebt I"S F d ~u~~~d~8
<br />,General Purpose Bondsl S 3,038 S, ,0
<br />WW .. SS Bonds 1,190,000
<br />Totals S2,640,OOO
<br />Less: Self-Supptn9 Debt S50,099
<br />Applicable I"S Fds 2 980 53 079
<br />Net Oebt (8.40% of A.V. - ~4 per capIta) S 2.586.921
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<br />S 30,808,750
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<br />Pop: 1970-894; 1976-1,096 Cens Est
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<br />TAX DATA Taxes are due October 1 and become delinquent January
<br />~Discounts are not allowed. Split payments are not
<br />allowed. Current collections are for a 12-month periOd from
<br />the due date and total collections exclude all penalty and
<br />interest unless otherwise noted.
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<br />The city has given exemptions and allowances as provided in
<br />Chapter 11 of Texas Property Tax Code in the amount of S131,500
<br />for the tax year 1979.
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<br />CITY OF LOMAX
<br />Harris County
<br />April 22, 1980
<br />SE (Spec)
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<br />MAP 01' HARRIS COUNTY
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<br />SHOWING ,LOCATION 01'
<br />CITY OF LOMAX
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<br />Tax Assessed Tax % Collections Year
<br />Year Valuation ~ Current Total Endq
<br />1973 S 8,857,130 SO.95 93.62 97.08 9-30-74
<br />1974 10,162,830 .95 93.65 96.31 9-30-75
<br />1975 11,636,930 .95 93.06 96.53 9-30-76
<br />1976 12,252,130 .95 94.05 96.16 9-30-77
<br />1977 15,383,949* 1.10 86.01 88.44 1-31-78(4 Mos)
<br />1978 21,599,281 1.10 92.61 94.66 9-30-79(12 Mos)
<br />1979 30,808,750 1.06 (In process of collection)
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<br />*Natural growth due to completion" availability of
<br />sewer facilities.
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<br />Tax Rate Limitations Article XI, Section 4 of Texas Constitu-
<br />tion, applicable to cities of 5,000 or less: Sl.50 per S100
<br />assessed valuation for all city purposes.
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<br />Municipal Sales Taxes The city has adopted the provisions of
<br />Article 1066c, VACS, Section 9. Net collections, on calendar
<br />year basis, are as follows:
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<br />Calendar Total X of Ad Val Equiv of Ad
<br />Year Co lletted Tax Levy Val Tax Rate
<br />1975 S14,343 12.97 SO.12
<br />1976 10,966 9.42 .08
<br />1977 17,815 10.52 .12
<br />1978 26,002 10.94 .12
<br />1979 26,197 8.02 .09
<br />1980 9,757*
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<br />*For 4 month period ending 3-31-80.
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<br />'lhe iD1'ormation contained 111 thh Texas Mullicipal. Report has been obtained rrCllll diverse source". ille ,e sources are usually reUable, but neither
<br />their c:amp1eteneas, acc:ura~ or vaUdity ls suarantaed by the publisher. The origin or such IMterial and the basls ror its publication vlll be
<br />I118de available upon request.
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<br />'lhe TeDs Mwlicipa1 Report is deaigned to contain into1'lll8tion which IIl8Y be uset'ul. and belpf'W tc members or the Municipal Advisory Council in
<br />evaluating the IllUDicipal. secur:l.ties or the hsuer to which it applies. However, limitatio:1s of expense, available elata, and teclmical start
<br />necessari~ lIlI!an that the 1Df'01'lll8tion contained 111 the Texas ~cipal Report is substantially less than all the int01'lll8tion needed to reach
<br />a deciaion vith respect to the purchase or sele or any IllUDicipel security. The Texas Municipal Report is not designed as a selling doc:ument.
<br />'l'be Texas Municipal Report, ir not used 111 con.1uncotion vlth other inf'orlllQtion evailable hom the lssuer, can ba miSleading. Complete 1Df'01'lll8-
<br />tton to 8upport a decision to purchase or sella IllUDicipal security should be obta1l1ed 1'rom the issuer or its authorized representative.
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<br />Mach or the 1Df'01'III8tion contained in the Texas Municipal Report is a IIIIItter or interpretation. The start or the Mwlicipal Advisory Counc:U or
<br />TeD8 is available to discuss their Dlthod or interpretation of any such int01'lll8tion. Some or the methods used to cCllllP1le the Texas Municipal
<br />Reporta, IIDd the 1I1terpretationa l118de, are arb:l.trar:r, and ...,. dirrer f'rom methods and 1I1terpretations used by others.
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<br />The iD1'omation contained 111 the Texa8 Mwlicipal Report is believed to be correct as or the elate or dates indicated, but it is to be ~erstood
<br />that SOlIe or the 1I1formation vlll change vlth the passage or time.
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