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CITY OF LA PORTE, TEXAS <br />' Notes to the Financial Statements - Continued <br />September 30, 2004 <br />5. Long Term Liabilities - Continued <br />Revenue Bonds - <br />' Water and Sewer Revenue Bonds constitute special obligations of the City solely secured by a lien on and <br />pledge of the net revenues of the water and sewer system. <br />The Revenue Bonds are collateralized by the revenue of the water and sewer system and the various <br />special funds established by the bond ordinances. The ordinances provide that the revenue of the system is <br />to be used first to pay operating and maintenance expenses of the system and second to establish and <br />maintain the Revenue Bond funds. Remaining revenues may then be used for any lawful purpose. The <br />' ordinances also contain provisions, which, among other items, restrict the issuance of additional Revenue <br />Bonds unless the special funds noted above contain the required amounts and certain financial ratios are <br />met. The City is in compliance with all significant financial requirements as of September 30, 2003. <br />' <br />Below is a reconciliation of the various restricted cash and cash investments: <br />Current Maturities of Revenue Bonds, <br />$ 985,000. <br />Reserve for Revenue Bond Retirement <br />1,199,560 <br />' <br />Total Reserve for Revenue Bond Retirement <br />2,184,560 <br />' <br />Customer Deposits Payable <br />Total Restricted Cash and Cash Investments <br />368,730. <br />as of September 30, 2002 <br />$ 2,553,290 <br />1 <br />1 <br />1 <br />1 61 <br />