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<br />CITY OF LA PORTE, TEXAS
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<br />Management's Discussion and Analysis
<br />For the Year Ended September 30, 2004
<br />Capital Assets at Year-end
<br />Net of Accumulated Depreciation
<br />Land
<br />Buildings
<br />Equipment
<br />Improvements
<br />Infrastructure
<br />Construction in Progress
<br />Total
<br />Governmental
<br />Activities
<br />2004
<br />$ 7,674,926
<br />9,435,606
<br />4,992,023
<br />3,053,101
<br />10, 887,474
<br />Business -type
<br />Activities
<br />2004
<br />$ 2,350,478
<br />499,453
<br />165,631
<br />30,112,057
<br />Total
<br />$ 10,025,404
<br />9,935,059
<br />5,157,654
<br />33,165,158
<br />10,887,474
<br />4,146,625 1,315,218 5,461,843
<br />$ 40,189,755 $ 34,442,837 $ 74,632,592
<br />Additional information of the City of La Porte's capital assets can be found in note 4 on pages 56-58 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 />$21,344,178. Of this amount, $13,230,000 comprises bonded debt backed by the full faith and credit of the
<br />government and $8,114,178 represents bonds secured solely by water and sewer revenues.
<br />General Obligations
<br />Revenue Bonds Payable
<br />Certificate of Obligations
<br />Total
<br />Outstanding Debt at Year End
<br />Bonds Payable
<br />Governmental
<br />Activities
<br />2004
<br />$ 10,830,000
<br />Business -type
<br />Activities
<br />2004
<br />- 8,114,178
<br />2,400,000 -
<br />$ 13,230,000 $ 8,114,178
<br />Totals
<br />$ 10,830,000
<br />8,114,178
<br />2,400,000
<br />$ 21, 344,178
<br />The City of La Porte maintains an "AA" rating from the Standard & Poor's and Fitch and an "Aa" rating from
<br />Moody's for general obligation debt. The revenue bonds have been rated "A" by all three of these rating
<br />agencies.
<br />Additional information on the City of La Porte's long-term debt can be found in note 5 on pages 59-63 of this
<br />report.
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