|
CITY OF LA PORTE, TEXAS
<br />NOTES TO THE FINANCIAL STATEMENTS (continued)
<br />Note 6 - Long-Term Debt
<br />The City issues a variety of long-term debt instruments in order to acquire and/or construct major capital
<br />facilities and equipment for governmental and business type activities. These instruments include general
<br />obligation bonds, certificates of obligation and revenue bonds. Future ad valorem tax revenues, water and
<br />sewer system revenues or liens on property and equipment secure these debt obligations.
<br />The following is a summary of the terms of obligations, general obligation bonds, certificates of
<br />September 30, 2011
<br />obligations and revenue bonds outstanding as of :
<br />Governmental Business-type
<br />2002 Limited Tax Bonds
<br />due in annual installments of $270,000
<br />through March 15,2025; interest at 4.25% to 5%; $5,400,000
<br />issued for wastewater treatment plant and fire station improvements.3,780,000$ -$
<br />2004 Certificates of Obligation
<br />due in annual installments through March 15, 2025; interest at 3.6% to 4.45%
<br />$7,000,000 issued for paving and drainage improvements, street extension
<br />and land acquisition.5,630,000 -
<br />2005 General Obligation Serial Bonds
<br />due in annual payments through March 15, 2025; interest at 3.75% to 4.25%
<br />$7,675,000 issued to construct a police facility.6,000,000 -
<br />2005 Certificates of Obligation
<br />due in annual payments through March 15, 2015; interest at 2.8% to 3.8%
<br />$1,800,000 issued for water and sewer improvements and fire truck.1,400,000 -
<br />2006 Public Property Finance contractual Obligation
<br />due in annual payments through January 25,2016; interest at 3.74%
<br />$2,625,000 issued for automated meter replacement program.- 1,312,500
<br />2006 General Obligation Serial Bonds
<br />due in annual payments through March 15, 2025; interest at 3.625% to 4.25%
<br />$1,200,000 issued for park improvements.1,010,000 -
<br />2006 Certificates of Obligation
<br />due in annual payments through March 15, 2025; interest at 3.75% to 4.3%
<br />$5,765,000 issued for police facility, sports and water and sewer improvements.4,855,000 -
<br />2007 Certificates of Obligation
<br />due in annual payments through March 15, 2029; interest at 4.00% to 4.25%
<br />$8,075,000 issued for wastewater treatment plant improvements, sports
<br />complex and golf cart path improvements.7,455,000 -
<br />2010 Certificates of Obligation
<br />due in annual payments through March 15, 2026; interest at 3.00% to 4.00%
<br />$6,265,000 issued for street, drainage and park improvements.6,265,000 -
<br />2010 General Obligation Refunding Bonds
<br />due in annual payments through March 15, 2020; interest at 2.00% to 4.00%
<br />$4,295,000 issued to refund previous debt.3,930,000 -
<br />2010 LPAWA Contract Revenue Refunding Bonds
<br />due in annual payments through March 15, 2017; interest at 2.50% to 4.00%
<br />$4,085,000 issued to refund previous debt.- 3,500,000
<br />Total Bonds Payable
<br />$ 4,812,50040,325,000$
<br />41
<br />
<br />
|