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<br />_vi
<br />
<br />TEXAS MUNICIPAL REPORTS
<br />
<br />PERTINENT PROVISIONS OF THE WATERWORKS AND
<br />Sm4ER SYSTEM REVENUE BOND INDENTURE
<br />
<br />1. Nature of Pled~e:
<br />First Lien on net revenues of Water &: Sewer System.
<br />
<br />2. Sllecial Funds Created bY Indenture comparing balances 1Jl
<br />each which are ultimately required and presently require[
<br />by indenture provisions as compared to actual balances
<br />on hand:
<br />
<br />Sllecial Funds
<br />I &: S Fund
<br />Reserve Fund
<br />Contingency Fund
<br />
<br />Required
<br />Ultimate
<br />Balance
<br />Not Applicable
<br />$36,561
<br />50,000
<br />
<br />Required Actual
<br />Present Present
<br />Balance Balance
<br />$28.197 $33,153
<br />35.492 65.830
<br />Not Applicable 41.725
<br />
<br />3. Covera~e Required as a Condition to Issuance of Parity
<br />Bonds: For the last fiscal year preceding the issuance
<br />or-additional bonds net revenues shall have been not
<br />less than If times maximum annual requirements, after
<br />giving effect of the additional bonds.
<br />
<br />SCHEDULE OF WATER &: SEWER REVENUE DEBT SERVICE REQUIREMENTS
<br />
<br /> Fiscal Yr Total
<br /> End~ 9-30 PrinciDa1 Interest ReQmts
<br /> 1973 $ 30.000 $ 15.788 $ 45,788
<br /> 1974 30.000 14,600 44,600
<br /> 1975 30.000 13,475 43.475
<br /> 1976 35.000 12.300 47.300
<br /> 1977 35,000 11.044 46.044
<br /> 1978 35.000 8,756 44,756
<br /> 1979 25.000 8.656 33.656
<br /> 1980 25.000 7.763 32.763
<br /> 1981 25,000 6.875 31,875
<br />. 1982 25.000 5,975 30,975
<br />1983 25.000 5.075 30,075
<br />1984 25.000 4,163 29,163
<br />1985 25,000 3.238 28,238
<br /> 1986 25.000 2.313 27.313
<br /> 1987 25,000 1,388 26.388
<br /> 1988 ..1.2...QQQ ~ ~
<br /> Totals $445.000 $122,872 $5 7.872
<br /> Avg Ann Reqmts $ 35.492
<br /> Avg Ann Reqmts 1973/78 $ 45.327
<br />
<br />.
<br />
<br />CITY'S WATERWORKS &: SmoIER SYSTEM OPERATING STATEMENT The fOl-
<br />lowing condensed statements have been compiled from original
<br />data the source of which is indicated below. Accounting
<br />principles customarily emplqyed in the determination or
<br />net revenues ror coverage of debt service have been observed
<br />and in all instances exclude depreciation. Income and
<br />expense for Harris County WC&:ID #56 is for period from
<br />March 8, 1970 to September 30. 1970. The District was
<br />annexed by the city in December. 1969. Statement for
<br />September 30, 1969 is for 15 month period coverage computed
<br />on annual basis. Expense for fiscal year ended 9-30-71 in-
<br />cludes non-recurring expenditures of $10.256 for painting
<br />of tank and tower.
<br />
<br />Income
<br />City
<br />WC&:ID 656
<br />Total
<br />
<br />ExDense
<br />City
<br />WC&:ID 656
<br />Total
<br />
<br />Available for
<br />Debt Service
<br />
<br />Coverage of Avg Ann
<br />Reqmts on Rev Bonds
<br />
<br />Coverage of Avg Ann
<br />Reqmts 1973/78
<br />
<br />Customer Count
<br />Water
<br />City
<br />WC&:ID 656
<br />Total Water
<br />Sewer
<br />City
<br />WC&ID 656
<br />Total Sewer
<br />
<br />3
<br />CITY OF LA PORTE
<br />
<br />Fiscal Year Ended
<br />7-1-68 to
<br />.2=1Q:R* .2:1Q:1! * .2:lQ:1Q* .2:1Q:..Q2*
<br />($271,921 ($272,250 $204,302 $21~19
<br />( ( .....ll...25f! - 0-
<br />$271,921 $272,250 $237.1lOO $214.839
<br />
<br />($129,438 ($129,108 $ 88.363 $117,956
<br />( ( ~ -0-
<br />$129,438 $129,108 $llo-;125 $117,956
<br />
<br />$142,483 $143.142 $121,735 $ 96,883
<br />
<br />4.01X
<br />
<br />3.43X
<br />
<br />2.1ax
<br />
<br />4.03X
<br />
<br />3.14X
<br />
<br />3.16x
<br />
<br />1. 71X
<br />
<br />2.69X
<br />
<br />(2,621 (2.508 1.939 1.797
<br />( (- ~ ~
<br />2.621 2.508 2.4 1 2.275
<br />(2.401 (2,288 1.722 1.580
<br />(- ( ~ ~
<br />2.401 2;2'liS 2.244 2.05
<br />
<br />*Audits by Eugene Hovey. CPA. La Porte. Texas
<br />
<br />SOURCE OF WATER SUPPLY Five wells
<br />
<br />WATER RATES (Monthly billing) Effective October 1, 1969, the
<br />city increased its water rates as shown below:
<br />Old Rates New Rates
<br />First 2.000 gallons $2.00 (Min) $2.00 (Min)
<br />Next 3,000 gallons .75/M . 851M
<br />Next 5,000 gallons .50!M .65!M
<br />Next 40,000 galions .40!M .50!M
<br />Next 50,000 gallons .30!M .40!M
<br />Over 100,000 gallons .30/M .30/M
<br />
<br />SEWER RATES (Monthly billing) Based on water consumption;
<br />effective October 1, 1969. the city increased its sewer
<br />rates as shown below.
<br />
<br />Old Rates
<br />30% of water bill plus $1.00
<br />
<br />New Rates
<br />35" of water bill plus $1.2'
<br />
<br />DETAILS OF AIRPORT REVENUE BONDS
<br />
<br />Airpt Rev Ser'65 (NV) 12-15-65 J&:J 1
<br />(88-218) (MPH) Mtys 77/84 Ca 1-15-76
<br />Mtys 1-15
<br />3M-74; 4M-75!79; 5M-80!84
<br />
<br />(60M)
<br />
<br />4ts
<br />
<br />Outstanding
<br />2-28-73
<br />
<br />$48.000
<br />
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