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Debt Administration. At the end of the fiscal year, the La Porte Area Water Authority had bonded debt <br /> payable secured solely by water and sewer revenues. The revenue bonds have been rated "AA" by <br /> Standard & Poor's, Fitch and Moody's rating agencies. <br /> Additional information on the Authority's long -term debt can be found in Note 7 on pages 14 — 15 of <br /> this report. <br /> ECONOMIC FACTS AND NEXT YEAR'S BUDGETS AND RATES <br /> The Authority has benefited from a stable economy for the past several years, but in this coming fiscal <br /> year, the Authority's budget may be increased to cover the Southeast plant true up cost. <br /> REQUESTS FOR INFORMATION <br /> This financial report is designed to provide a general overview of the La Porte Area Water Authority's <br /> finances for all those with an interest in the government's finances. Questions concerning any of the <br /> information provided in this report of requests for additional information should be addressed to the <br /> Director of Finance, 604 West Fairmont Parkway, La Porte, Texas 77571. <br /> 6 <br />