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• ~ <br />~"_-- `~ <br /> <br /> <br />based on current tax revenues. While very few citizens enjoy tax <br />rate increases, recent bond issues in Texas indicate that people <br />are willing to finance well-thoughtout and appropriate projects. <br />Additionally, La Porte has the enviable position of having a <br />sizable industrial base within its jurisdiction, from which <br />in-lieu-of payments underwrite a significant part of City <br />government. The finance committee felt that a 7 to 8 cent tax <br />increase would be a good first estimate, which (depending on <br />valuations and industrial contracts) could raise in excess of $15 <br />million. Again, the tax load people are willing to pay for City <br />services and ammenities will determine sucess or failure of the <br />bond issues. The Committee showed restraint in recommending bond <br />issues, for the emphasis was placed on preparing a "most-needed" <br />bond package for Council's consideration. <br />In summary, the recommended bond issues will create a <br />sufficiently serviced community, with ammenities that will attract <br />desirable development as La Porte reaches toward build-out. This <br />can be accomplished in such a way that no extraordinary burden is <br />placed on either present or future residents. Home values will be <br />maintained and enhanced. The quality of life in this City will <br />improve. These are the issues that we have been instructed to <br />address through surveys and interviews conducr_ed throughout this <br />process. It is incumbent upon each of us that we should work to <br />see that these goals are met. <br />- 13 - <br />~ l~ <br />