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CITY OF LA PORTE, TEXAS <br />NOTES TO THE FINANCIAL STATEMENTS (continued) <br />Note 6 - Long-Term Debt (continued) <br /> Contract Revenue Bonds Public Property Finance CO <br /> Business-Type Activities Business-Type Activities <br />Fiscal YearPrincipalInterestPrincipalInterest <br />2013625,000$ 73,556$ 262,500$ 34,361$ <br />2014630,000 58,650 262,500 24,544 <br />2015650,000 41,838 262,500 14,726 <br />2016670,000 22,850 262,500 4,909 <br />2017320,000 6,400 - - <br />$ 203,2942,895,000$ 1,050,000$ 78,540$ <br />Prior Year Refunding of Debt <br />Revenue Bonds <br />The City defeased certain outstanding revenue bonds by placing proceeds of new bonds in irrevocable <br />trust to provide for all future debt service payments. Accordingly, the respective trust accounts and <br />liability for the defeased bond are not included in the City’s financial statements. As of September 30, <br />2012 approximately $8,770,000 and $2,950,000 of previously refunded bonds outstanding are <br />considered defeased in association with the governmental activities and the business-type activities <br />respectively. <br />Note 7 - Interfund Activities <br />Transfers between the primary government funds during the year were as follows: <br />Transfers fromTransfers to AmountPurpose <br />Transfer for liability insurance and <br /> worker's compensation. <br />General FundInsurance Fund <br />$ 416,876 <br />General FundGeneral CIP Fund 276,547 <br />Annual transfer to fund capital projects. <br />Utility FundDebt Service Fund 306,800 <br />Annual transfer for debt service. <br />Transfer for liability insurance and <br /> worker's compensation. <br />Utility FundInsurance Fund 47,711 <br />Transfer for liability insurance and <br /> worker's compensation. <br />Vehicle Maintenance FundInsurance Fund 13,236 <br />Transfer for liability insurance and <br /> worker's compensation. <br />Airport FundInsurance Fund 518 <br />Transfer for golf course advertising <br />Hotel/Motel FundGeneral Fund 39,000 <br /> expenditures and city <br />Return unused funds on Gateway <br />La Porte Development <br />General CIP Corporation (4B) 154,914 project to LPDC <br />Corporation (4B)Debt Service Fund 660,338 <br />Annual transfer for debt service. <br />Corporation (4B)General CIP Fund 970,000 <br />Annual transfer to fund capital projects. <br />General CIPGeneral Fund 21,945 <br />Purchase of equipment <br />2007 Certificates of ObligationDebt Service Fund 281,133 <br />Transfer for debt service repayment. <br />Technology FundUtility Fund 21,000 <br />Purchase of equipment <br />$ 3,210,018 <br />42 <br /> <br />