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<br /> . . e e
<br /> e TAX RATE DISTRIBUTION
<br /> City of La Porte After consolidation of the City of Lomax
<br /> Tax Year 1980 1979 1978 1977 1976 1975
<br /> General Fund $0,691705 $0,805 $0.833 $0,877 $0.742 $0.114
<br /> Interest . Sinking Fund 0,218295 .121 .098 .173 .181 .209
<br /> Total $0,910000 $0.926 $0.931 $1. 050 $0.923 $0.923
<br /> TAX RATE LIMITATIONS
<br /> The City of La Porte is a Home Rule Charter City with a maximum authorized rate for all purposes of $2,50
<br /> per $100 Assessed Valuation. This maximum tax rate is imposed both by the Constitution of the State of Texas
<br /> and the City Charter. Within this $2.50 maximum there is no limit upon the amount of taxes which can be
<br /> levied for Debt Service.
<br /> INTEREST AND SINKING FUND MANAGEMENT INDEX
<br /> Consolidated General Obligation Debt Service Requirements for
<br /> Fiscal Year ending 9/30/81, including These Certificates of
<br /> Obligation, Series 1980 iI 7 3/4% for purpose of illustration,...............,................,...,... $815,649
<br /> Consolidated Interest and Sinking Fund Balance as of 9/30/80 ............,..,....... $211, 486
<br /> Interest and Sinking Fund Tax Levy of $0.218295 on 1980
<br /> Consolidated Assessed Valuation of $366,726,568 @
<br /> 95% Collection Produces ,.......,.,...,."............................,",........ 760,518 $1,032,004
<br /> T AX ADEQUACY
<br /> General Obligation Debt Service Requirements for Fiscal Year ending
<br /> 9/30/82, including These Certificates of Obligation, Series 1980
<br /> iI 7 3/4% for purpose of illustration ............,.,........".....,...,...............,.."...,.. $958,570
<br /> Interest. Sinking Fund Tax Levy of $0.276 on 1980 Consolidated
<br /> e Assessed Valuation of $366.726,568 @ 95% collection produces..,....,..,........,............,.... $961,557
<br /> CITY SALES TAX
<br /> Both the City of La Porte and the City of Lomax adopted the provisions of Article 106Ge, VACS, Section 9.
<br /> which authorizes the collection of a city sales tax. Following are the consolidated sales tax collections for the
<br /> past eight years:
<br /> Year Total Collected
<br /> 1973 $122,690
<br /> 1974 138,810
<br /> 1975 185,091
<br /> 1976 219,490
<br /> 1977 252,773
<br /> 1978 386,060
<br /> 1979 418,746
<br /> 1980 499,150
<br /> GENERAL OBLIGATION BONDS AUTHORIZED BUT UNISSUED
<br /> Date of Amount: Previously Authorized
<br /> Authorization Purpose Authorized Issued But Unissued
<br /> 5/15171 Fire Station $ 100,000 $ -6- $100,000
<br /> 2/24/79 Water System Improvements 1,250,000 1.250.000 -6-
<br /> 2/24/79 Sewer System Improvements 2.000,000 2.000,000 -6-
<br /> Totals ........................... $3,350,000 $3.250,000 $100,000
<br /> FLOATING DEBT OUTSTANDING
<br /> e None
<br /> -5-
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