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<br />TAX RATE LIMITATIONS
<br />The City of La Porte is a Home Rule Charter City with a maximum authorized rate for
<br />all purposes of $2.50 per S100 Assessed Valuation. This maximum tax rate is imposed
<br />both by the Constitution of the State of Texas and the City Charter. Within this $2.50
<br />maximum there is no limit upon the amount of taxes which can be levied for Debt
<br />Service.
<br />INTEREST ~ SINRZNG FUND MANAGEMENT INDEX
<br />General Obligation Debt Service
<br />Requirement for Fiscal Year
<br />ending 9/30/85 ........................................................... $1.500,873
<br />Interest 6 Sinking Fund Balance
<br />as of 9/30/84 ........................................... $ 909,516
<br />Interest b Sinking Fund Tax Levy
<br />of $0.2207 on 1984 Assessed Valuation
<br />of $680,116,940 at 958
<br />Collection ............................................... 1,425,967 $2,335,483
<br />TAX ADEQDACY
<br />General Obligation Debt Service
<br />Requirements for Fiscal Year
<br />Ending 9/30/86, including
<br />These Bonds, Series 1985 @
<br />108 for purpose of Illustration ......................................... $2,187,768
<br />Interest & Sinking Fund Balance
<br />estimated as of 9/30/85 ................................. $ 834,610
<br />Interest 6 Sinking Fund Tax Levy
<br />of $0.21 on 1984 Assessed Valuation
<br />of $680,116,940 @ 95$ Collection
<br />Produces .............................................. 1,356,833 $2,191,443
<br />CZTY SALES TAX
<br />The City of La Porte adopted the provisions of Article 1066c, VTCS, Section 9, which
<br />authorizes the collection of a 18 city sales tax. Net collections for the past several
<br />years are as follows:
<br />Calendar Total Calendar Total
<br />Year Collected Year Collected
<br />1977 $252,773 1962 $ 663,859
<br />1978 386,060 1983 592,191
<br />1979 ~ 418,746 1984 666,437
<br />1980 499,312 ~ 1985 (thru 7/31) 201,969
<br />1981 627,857
<br />GENERAL OBLIGATION BONDS AUTHORIZED HUT UNISSUED
<br />Date of Authorized
<br />Author- Amount This But
<br />ization Purpose Authorized Issue Unissued
<br />5/15/71 Fire Station $ 100,000 $ -0- $ 100,000
<br />6/15/85 Street Improvements 2,500,000 1,000,000 1,500,000
<br />6/15/85 Drainage Improvements 3,000,000 1,000,000 2,000,000
<br />6/15/85 Sanitary Land Fill 4,000,000 -0- 4,000,000
<br />6/15/85 Park Improvements 2,500,000 2,000,000 500,000
<br />6/15/85 Gymnasium 1,500,000 -0- 1,500,000
<br />6/15/85 Fire Station 550,000 550,000 -0-
<br />6/15/85 Fire Department Training 1,500,000 450,000 1,050,000
<br /> $15,650,000 $5,000,000 $10,650,000
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