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City of La Porte, Texas
<br />Long Range Projection for the La Porte Development Corporation
<br />Section 46 1/2 Cent Sales Tax
<br />Method 2 -Pay as You Go
<br />Beg Working Capital Balance
<br />Plus Revenues:
<br />Sales Tax
<br />Interest
<br />Total Revenue
<br />Less Expenses:
<br />Operations
<br />$3 issue in 99-00
<br />$4 issue in 00-01
<br />Pay as you go Method
<br />Total Debt
<br />Ending Balance
<br />Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected
<br />1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08
<br />0 45,706 875,817 984,133 810,654 677,697 586,880 539,877 435,920 376,738
<br />50,484 900,000 922,500 945,563 969,202 993,432 1,018,267 1,043,724 1,069,817 1,096,563
<br />222 21,361 24,003 19,772 16,529 14,314 13,168 10,632 9,189 8,881
<br />50,706 921,361 946,503 965,335 985,731 1,007,746 1,031,435 1,054,356 1,079,006 1,105,444
<br />5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
<br />0 86,250 318,188 309,563 300,938 292,313 283,688 275,063 266,438 257,813
<br />0 0 115,000 424,250 412,750 401,250 389,750 378,250 366,750 355,250
<br />0 0 400,000 400,000 400,000 400,000 400,000 500,000 500,000 500,000
<br />5,000 91,250 838,188 1,138,813 1,118,688 1,098,563 1,078,438 1,158,313 1,138,188 1,118,063
<br />45,706 875,817 984,133 810,654 677,697 586,880 539,877 435,920 376,738 364,119
<br />Assumptions:
<br />Annual growth of the 1/2 cent Sales Tax will be at 2.5% per year.
<br />Interest will be earned at 5% on average balance
<br />A debt issue of $3 million will occur in March 2000
<br />Amounts budgeted for projects could began at $400,000 per year and increase to $500,000 in year 6.
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