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<br />
<br />TEXAS MUNICI! REPORTS
<br />
<br />e
<br />
<br />Compil.d .ftCI Published b,
<br />MUNIOPAL ADVISORY COUNCILt('TEXAS
<br />
<br />r;ITY OF LA PORTE
<br />Ha rris County
<br />!-lay 2, 1975
<br />
<br />T.'I. St... 1e.1 luiWi.., . Au,d. . w. E. nmley, ElKu,," Director
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<br />MAP OF HARRIS COUNTY
<br />
<br />SHOWING LOCATION OF
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<br />WWks & S 8Ys
<br />$42, 347
<br />87,062
<br />49,923
<br />
<br />Ai?Ort Rev
<br />$ ,706
<br />6,300
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<br />Tax Rate Distribution
<br />General Fund
<br />I & S Fund
<br />Totals
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<br />l21!!1.2:D.
<br />$0.736 $o.oJ48
<br />.184 ~
<br />$0.920 $0.9200
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<br />$o.oJ48
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<br />$0.9200
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<br />1.27l
<br />$0:04
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<br />$0.92
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<br />CITY OF LA PORTE
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<br />In
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<br />."....... J ......+..~HOUSTON
<br />(CITY LIIIIITS
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<br />
<br />FINANCIAL STATEMENT (As of January 31, 1975)
<br />Assessed Valuation, 1974 (53.64% of Actual*). $110,756,958
<br />
<br />General Obli~ation Debt I&S Fund
<br />General Purpose Bonds
<br />WWka & S Sys Bela
<br />Comb Tax & Rev Bds $.!!E..1Q7.
<br />Totals $~
<br />Less: Se1f-Supptng Debt $~
<br />Applicable I&S Fd ~2 1,056,955
<br />Net Debt (0.60% of A.V. - $93.17 per capita) $
<br />
<br />outstandi~
<br />($ 648,20
<br />( 45,792
<br />( 1.029.000
<br />$1,723,000
<br />
<br />Tax Rate Limitations Article XI, Section 5 of Texas Con-
<br />stitution, applicable to cities of more than 5,000 popu-
<br />lation: $2.50 per $100 assessed valuation. City operates
<br />under a Home Rule Charter which adopts ,constitutional
<br />provisions.
<br />
<br />MuniciDBl Sales Taxes The city has adopted the provisions
<br />of Article 1066c, VCS, and levies a 1% sales tax, effective
<br />January 1, 1969. which has produced net collections on a
<br />full calendar year basis as follows:
<br />
<br />, 666.045
<br />
<br />Special Obli~ation Debt
<br />Waterworks & Sewer System Bonds.
<br />Airport Revenue Bonds. .
<br />Special Fund Balances
<br />I&SFund
<br />Reserve Fund
<br />Contingency Fund
<br />
<br />. . . .$
<br />
<br />385,000
<br />41,000
<br />
<br />Calendar Total " of Ad Val Equiv of Ad
<br />Year Collected Tax LevY Val Tax Rate
<br />1969 $ 94,158 21. 03 $0.1918
<br />1970 95.777 18.62 .1713
<br />1971 115,6110 21.36 .1965
<br />1972 118,485 20.32 .1869
<br />1973 104,528 11.47 .1038
<br />
<br />Population: 1950-4,429: 1960-4,512; 1970-7,149
<br />
<br />*As reported by Tax Research Association, Houston, Texas,
<br />based on actual survey.
<br />
<br />PAYMENT RECORD The city has never defaulted on Revenue Bonds,
<br />and except of $9,225 of warrants which were in default in
<br />1938 while in litigation, has not defaulted on General
<br />Obligation Bonds since 1934 when there was a general re-
<br />funding at par with a reduction in interest rate.
<br />
<br /> TAX DATA Due October 1; delinquent after January 31. No
<br /> split payments allowed. No discounts allowed.
<br /> Tax Assessed Tax 1$ Collections Year
<br /> X2!: Valuation E!!ll ~~ ~
<br /> 1969 $ 49,091,708 $0.92 96.61 98.69 9-30-70
<br />. 1970 55,900,762 .92 97.40 100.12 9- 3 0-71
<br />1971 58,857,775 .92 97.27 100.52 9-30-72
<br />1972 63,985,372 .92 96.91 99.06 9-30-73
<br /> 1973 100,734,366* .92 98.36 100.34 9-30-74
<br /> 1974 110,756,958 .92 88.71 89.19 1-31-75(4 Mos)
<br /> *Increase in assessed value due to partial annexation of
<br /> industrial districts under rene otiated contracts. AUIlGMnllUI
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