2002-09-09 Regular Meeting and Public Hearing

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. Statement of IncreaselDecrease e If City of La Porte adopts a 2002 tax rate equal to the effective tax rate of $0.717 per $100 of value, taxes would increase compared to 2001 taxes by $210,420. Schedule A Unencumbered Fund Balances The following estimated balances will be left in the unit's property tax accounts at the end of the fiscal year. These balances are not encumbered by a corresponding debt obligation. Type of Property Tax Fund Balance General Fund Debt Service Fund $6,494,950 $1,530,28 I Schedule B 2002 Debt Service The unit plans to pay the following amounts for long-term debts that are secured by property taxes. These amounts will be" paid from property tax revenues (or additional sales tax revenues, ifapplicable). Principal or Interest to be Contract Payment Paid from Other to be Paid from Property Amounts Total Property Taxes Taxes to be Paid Payment $75,000 $2,625 $0 $77,625 $1,090,000 $125,305 $0 $1,215,305 $125,000 $99,844 $0 $224,844 $0 $315,344 $0 $301,050 $0 $279,878 $2,414,045 $0 $350,050 $0 $2,063,995 $0 $2,063,995 This notice contains a summary of actual effective and rollback tax rates' calculations. You can inspect a copy of the full ca]cu1ations at 604 W Fairmont Parkway, La Porte, Texas 77571. Description of Debt General Operating Bonds 1990 General Operating Refunding Bonds 1994 General Operating Bonds 1998 General Operating Bonds 2000 Certificate of Obligations Bonds 2000 General $0 $279,878 Operating Bonds 2002 Total required for 2002 debt service - Amount (if any) paid from funds listed in Schedule A - Amount (if any) paid from other resources - Excess collections last year = Total to be paid from taxes in 2002 + Amount added in anticipation that the unit will collect only 100.00% of its taxes in 2002 = Total debt levy $150,000 $165,344 Name of person preparing this notice: Katherine R. Powell Tit]e: Tax Manager Date prepared: August 13,2002 $150,000 $151,050