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<br />LA PORTE, CITY OF
<br />
<br />nXAS MUNICIPAL R~PORTS
<br />
<br />PERTINENT PROVISIONS OF THE AIRPORT REVENUE BOND INDENTURE
<br />
<br />1. Nature of Pledge:
<br />First Lien on net revenues of Airport System.
<br />
<br />2. Special Funds Created by Indenture comparing balances
<br />in each which are ultimately required and presently
<br />required 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 />Ultimate
<br />Balance
<br />Not Applicable
<br />$6,000
<br />
<br />Required
<br />Present
<br />Balance
<br />$2,91It
<br />6,000
<br />
<br />Actual
<br />Present
<br />Balance
<br />$D12
<br />6,300
<br />
<br />3. Coverage Required as a Condition to Issuance of Parity
<br />Bonds: For either the last complete fiscal year, or for
<br />any twelve consecutive calendar month period ending
<br />not more than 90 days preceding the adoption of
<br />additional bonds ordinance net revenues shall have been
<br />not less than It times average annual requirements,
<br />after giving effect of the additional bonds.
<br />
<br />SCHEDULE OF AIRPORT REVENUE DEBT SERVICE REQ,UIREMENTS
<br />
<br />Fiscal Yr Total
<br />Endg 9-30 Principal Interest Reqmts
<br />1978 $ It ,000 $1,395 $ 5,395
<br />1979 It,OOO 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 />198It 5,000 113 5.113
<br />Totals $33,000 $5,It25 $3!f,'1i25
<br />'Avg Ann Reqmts $ 5,It89
<br />
<br />AIRPORT SYSTEM OPERATING EXPERIENCE The following condensed
<br />statements reflecting transactions of the Operating Fund
<br />have been compiled from original data including any state-
<br />ments or books of record available. Accounting principles
<br />customarily employed in the determination of net revenue
<br />available for application to debt service requirements, as
<br />provided by the bond order, have been observed and in all
<br />instances reflect net adjustments necessary for computation
<br />of self-supporting debt.
<br />
<br />Inc orne
<br />Airport Rentals
<br />Other
<br />Total Income
<br />
<br /> Fiscal Year Ended
<br />~il30-F 9-30-7& 9- 30-75 9- 30-7It
<br />,92 'f1r.'95O lir.929 $9.240
<br />-0- 1,It63 609 655
<br />$8.92It $10,It19 $9,538 $9,B95
<br />$hQ2,2 $-211 $ --2Q2 $ It12
<br />$7,825 $10,246 $9,033 $9,It83
<br />
<br />Expense
<br />
<br />Ava11!ible for
<br />Debt Service
<br />
<br />Coverage of Avg
<br />Ann Reqmts on
<br />Rev Bds
<br />
<br />1. 65X
<br />
<br />1.87X
<br />
<br />1.It3X
<br />
<br />1. 73X
<br />
<br />REVENUE BONDS AUTHORIZED BUT UNISSUED None
<br />
<br />FLOATING DEBT (As of September 30, 1977) None
<br />
<br />ESTIMATED OVERLAPPING DEBT STATEMENT Q
<br /> Net Debt Amount
<br />Taxing Body Amount As of ~ Ovlpp; Ovlpg
<br />Harris County $167,833,713 12- 31-77 O. 51 fll337952
<br />Harris Co Flood
<br />Contr Dist 78,2ItO,288 8-31-77 .51 399,025
<br />Harris Co Hosp
<br />Dist -0- 1-31-78 .51 -0-
<br />La Porte ISD lIt,2It9,176 8-31-77 25.97 3,700,511
<br />Port of Houston
<br />Auth It3 ,It06 ,255 12- 31-77 .51 221,372
<br />San Jacinto Jr
<br />Coll Dist 12 ,172 ,It61t 1-31-78 2.70 328,657
<br />Total Net Ovlpg Debt $5,505,517
<br />La Porte, City of $ 823,202 9-30-77 100.00 823,202
<br />Total Direct and Ovlpg Debt
<br />(It. 5It% of A. V, - $791.58 per capita) $6,328,719
<br />ECONOMIC BACKGROUND
<br />
<br />County Characteristics: Harris County, 1970 population
<br />1,741,90B, 1st in the State, 1975 estimate 1,9ItIt.It31. increas-
<br />ing 11.6%, Metropolitan Gulf Coast county and component of the
<br />Houston Metropolitan Area, traversed by Interstate Highways 10
<br />and It5. Economy based on industry, mineral producticn and
<br />shipping.
<br />
<br />886 manufacturing plants employing more than 20 people and 3It7
<br />plants employing 100 or morc people produced'goods valued at
<br />$13.1 billion in 1976,* 1st in the State. Estimated 1976
<br />total county employment 911,364. Area highly industrialized
<br />with over 2,500 manufacturing plants, nation's largcst concen-
<br />tration of petrochemical plants. Leads the nation in manu-
<br />facture of petroleum equipment, agricultural chemicals.
<br />fertilizers, pesticides. oil and gas pipeline transmission.
<br />other principal products: steel, electronic equipment, foed.
<br />shipbUilding, hand tools, metal, and plastic containers and
<br />industrial machinery. 1976 estimated county retail sales,
<br />$9.2 billion,* 1st in the State. Over 87,000 students enrolled
<br />in 2It county colleges and universities. The Texas ~edical
<br />Center, one of the nation's largest, located here prOVides
<br />extensive medical care and educational opportunities. The
<br />L.B.J. Manned Spacecraft Center is located here. 89.9 million
<br />short tons of caro handled in the Houston port in 1976, the
<br />largest Texas port and third largest in the Ration. A leading
<br />financial center; 153 banks held combined 12-31-76 deposits of
<br />$13 ,It8It, 765,250.
<br />
<br />1975 value of all minerals produced, $It20.l million. 1976
<br />crude 011 production, 32.0 million barrels; 1976 natural gas
<br />marketed, 75.8 billion cubic feet. Four gasoline plants, a
<br />cycling plant and 6 refineries located in the county. The
<br />Astrodome Complex, San Jacinto Monument State Park, which
<br />attracted 1.6 million visitors in 1975-76 season and various
<br />other cultural and professional exhibitions attract s~b-
<br />stantial tourist income.
<br />
<br />c
<br />
<br />County Population and Family Income - 1970 Census:
<br />
<br />% Below $8,000 Income*
<br />% Above $25,000 Income*
<br />% Urban
<br />" White Collar Workers
<br />Median Effective Buying
<br />Income Per Household*
<br />197It Estimated Per Capita
<br />Inc orne
<br />
<br />County
<br />20:'1'%
<br />23.2%
<br />95.5%
<br />5It.l"
<br />
<br />State
<br />30.1%
<br />lIt. 9%
<br />79.8%
<br />Its.5%
<br />$13,117.
<br />$ 4 ,188.
<br />
<br />$16.690.
<br />$ 5,233.
<br />
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