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<br />e e
<br />
<br />4 TEXAS MUNICIPAL REPORTS
<br />LA PORTE, CITY OF __,.u...,
<br />
<br />WATER RATES (Monthly billing) The City increased its water
<br />rates effective 10-1-76 as shown below.
<br />
<br />Old Rates
<br />First 2,000 gallons
<br />Next 2,000 gallons
<br />Next 5,000 gallons
<br />Next 40,000 gallons
<br />Next 50,000 gallons
<br />Over 100,000 gallons
<br />
<br />$2.00 (Min)
<br />.85/M .
<br />.65/M
<br />.50!M
<br />.40/M
<br />.30/M
<br />
<br />New Rates
<br />First
<br />Next
<br />Next
<br />Over
<br />
<br />$2.10 (Min)
<br />1.00/M
<br />. 801M
<br />.60/M
<br />
<br />2,000 gallons
<br />3,000 gallons
<br />5,000 gallons
<br />10,000 gallons
<br />
<br />SEWER RATES (Monthly billing) Based on water consumption.
<br />35lC of water bill plus $1.25
<br />DETAILS OF AIRPORT REVENUE BONDS
<br />
<br />(60M)
<br />
<br />Airpt Rev Ser'64 (NV) 12-15-65 J&J 1
<br />(88-2l8)(MPH) Mtys 77/84 Ca 1-15-76
<br />Mtys 1-15
<br />4M-77/79; 5M-80/84
<br />
<br />4ts
<br />
<br />PaYinll: AlI:ent
<br />
<br />(88-218 )
<br />
<br />Bayshore Natioml Bank, La Porte
<br />
<br />PERTINENT PROVISIONS OF THE AIRPORT REVENUE BOND INDENTURE
<br />
<br />1. Nature of Pledll:e:
<br />First Lien on net revenues of Airport s,ystem.
<br />
<br />outstanding
<br />9-30-76
<br />
<br />$37,000
<br />
<br />2. Special Funds Created bY Indenture comparing balances
<br />in each which are ultima tely required and presently re-
<br />quired by indenture provisions as compared to actual
<br />balances on hand:
<br />
<br />Special Funds
<br />I&S Fund
<br />Reserve Fund
<br />
<br />Required
<br />Ul timat e
<br />Balance
<br />Not Applicable
<br />$6,000
<br />
<br />Required
<br />Present
<br />Balance
<br />$2,944
<br />6,000
<br />
<br />Actual
<br />Present
<br />Balance
<br />$3,009
<br />6.300
<br />
<br />.
<br />
<br />AIRPORT OPERATING STATEMENT The following condensed state-
<br />ments have been compiled from official records of the city.
<br />including any statements and books of record available.
<br />Accounting principles customarily empla,yed in the
<br />determination of revenues available for debt service have
<br />been observed.
<br />
<br />Income
<br />iiiriiQrt Rentals
<br />Other
<br />Total Income
<br />
<br />:-~~9~
<br />~
<br />$10,419
<br />$-1.71
<br />
<br />Fiscal Year Ended
<br />~~
<br />$8,929 $9,240
<br />~ ~
<br />$9.538 $9,895
<br />$-29.2 $. 412
<br />
<br />:8~~7~3
<br />~
<br />$9,194
<br />$hlli
<br />
<br />Expense
<br />
<br />Available for
<br />Debt Service
<br />
<br />$10,246 $9,033 $9.483 $7,521
<br />
<br />Coverage of Avg
<br />Ann Reqmts on
<br />Rev Bds
<br />
<br />1.64X
<br />
<br />1.86x
<br />
<br />1.72X
<br />
<br />1.37X
<br />
<br />REVENUE BONDS AUTHORIZED BUT UNISSUED None
<br />
<br />FLOATING DEBT (As of September 30. 1976)
<br />
<br />None
<br />
<br />ESTIMATED OVERLAPPING DEBT STATEMENT
<br />Net Debt
<br />amount; As of
<br />$166,746.309 10-31-76
<br />
<br />68,025,593 9-30-76
<br />
<br />Amount
<br />~ OvlplI: OvlplI:
<br />0.57 $ 950,454
<br />
<br />.57 387,746
<br />
<br />.57 -0-
<br />28.27 3.303,487
<br />
<br />.57 261,311
<br />
<br />2.98 236.771
<br />
<br />$5;139,769
<br />776.605
<br />
<br />.
<br />
<br />Taxinll: Body
<br />Harris County
<br />Ha rris Co Flood
<br />Cont Dis t
<br />Harris Co Hosp
<br />Dist
<br />La Porte ISD
<br />Port of Houston
<br />Auth
<br />San Jacinto Jr
<br />Coll Dis t
<br />
<br />-0- 11-30-76
<br />11,685,487 8-31-76
<br />45,843,979 11-30-76
<br />
<br />7,945,333
<br />
<br />8-31-76.
<br />
<br />Total Net Ovlpg Debt
<br />La Porte, City of $ 776,605
<br />
<br />9-30-76
<br />
<br />100.00
<br />
<br />Total Direct and Ovlpg Debt
<br />(4.61% of A. V. - $567.95 per capita)
<br />
<br />$5.916.374
<br />
<br />ECONOMIC BACKGROUND
<br />
<br />County Characteristics: Harris County, 1970 population
<br />1,741,908, 1st in the State increasing 40.1% from 1960.
<br />Metropolitan Gulf Coast county and component of the Houston
<br />Metropolitan Area. traversed by Interstate Highways 10 and
<br />45. Economw based on industry, mineral production and
<br />shipping .
<br />
<br />3. Coverall:e ReQuired as a Condition to Issuance of Parity
<br />Bends: For either the last complete fiscal year, or for
<br />~welve consecutive calendar month period ending
<br />not more than 90 days preceding the adoption of addition-
<br />al bonds ordinance net revenues shall have been not less
<br />t:.an lt times average annual requirements, after giving
<br />effect of the additional bonds.
<br />
<br />SCHEDULE OF AIRPORT REVENUE DEBT SERVICE REQUIREMENTS
<br />
<br />Fiscal Yr Total
<br />Endll: 9-30 Princill8l Interest ReQmts
<br />1977 $ 4,000 $1,575 $ 5,575
<br />1978 4,000 1,395 5,395
<br />1979 4,000 1,215 5,215
<br />1980 5,000 1,013 6,013
<br />1981 5,000 788 5,788
<br />1982 5,000 563 5,563
<br />1983 5,000 338 5,338
<br />1984 ...5...QQQ --ll.L .2.1ll
<br />Totals $37,000 $7,000 $44,qoo
<br />Avg Ann Reqmts $ 5,500
<br />
<br />1972 value added by manufacturing. $3.4 billion, 1st in the
<br />State. Area highly industrialized with over 2.500 manu-
<br />facturing plants, nation's Iat'gest concentration of petro-
<br />chemical plants. Leads the nation in manufacture of petro-
<br />leum equipment, agricultural chemicals, fertilizers,
<br />pesticides, oil and gas pipeline transmisaion. Other prin-
<br />cipal products: steel, electronic equipment, food, ship-
<br />building, hand tools, metal, and plastic containers and
<br />indus trial machinery. 1975 estima ted county reta il sales.
<br />$7.7 billion*, 1st in the State. Over 87,000 students enrolled
<br />in 24 county colleges and universities. The Texas Medical
<br />Center, one of the nation's largest, located here provides
<br />extensive medical care and educational opportunities.
<br />The L.B.J. Manned Spacecraft Center and Ellington Air Force
<br />Base are also located here. 83.1 million short tons of
<br />cargo handled in the Houston port in 1975, the largest
<br />Texas port and third larsest in the Nation. A leading finan-
<br />cial center; 152 banks held combined 12-31-75 deposits of
<br />$12,067,243.450.
<br />
<br />.
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