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CITY OF LA PORTE, TEXAS
<br /> Management's Discussion and Analysis
<br /> For the Year Ended September 30, 2010
<br /> Capital Assets at Year -end
<br /> Net of Accumulated Depreciation
<br /> Governmental Business -type
<br /> Activities Activities
<br /> 2010 2010 Total
<br /> Land $ 9,699,810 $ 2,308,777 $ 12,008,587
<br /> Buildings and improvements 20,606,726 219,144 20,825,870
<br /> Improvements other than buildings 11,353,336 38,586,412 49,939,748
<br /> Infrastructure 14,922,028 - 14,922,028
<br /> Machinery and equipment 6,208,222 210,734 6,418,956
<br /> Construction in progress 4,694,818 5,055,000 9,749,818
<br /> Total $ 67,484,940 $ 46,380,067 $ 113,865,007
<br /> Additional information of the City of La Porte's capital assets can be found in Note 4 on pages 57 -59 of this
<br /> report.
<br /> Debt Administration — At the end of the current fiscal year, the City of La Porte had bonded debt payable of
<br /> $47,725,000 Of this amount, $42,065,000 comprises bonded debt backed by the full faith and credit of the
<br /> government and $5,660,000 represents bonds secured solely by water and sewer revenues.
<br /> Outstanding Debt at Year End
<br /> Bonds Payable
<br /> Governmental Business -type
<br /> Activities Activities
<br /> 2010 2010 Totals
<br /> General Obligations $ 15,715,000 $ - $ 15,715,000
<br /> Revenue Bonds Payable - 4,085,000 4,085,000
<br /> Certificate of Obligations 26,350,000 1,575,000 27,925,000
<br /> Total $ 42,065,000 $ 5,660,000 $ 47,725,000
<br /> The City of La Porte maintains an "Aa2 ", "AA ", "AA-" by Moody's, Standard and Poor's and Fitch respectively for
<br /> general obligation debt. The revenue bonds have been rated "A2, A, NR" by Moody's, Standard and Poor's and
<br /> Fitch, respectively.
<br /> Additional information on the City of La Porte's long -term debt can be found in Note 5 on pages 60-64 of this
<br /> report.
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