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<br />CITY OF LA PORTE, TEXAS
<br />
<br />Management's Discussion and Analysis
<br />For the Year Ended September 30,2007
<br />
<br />Capital Assets at Year-end
<br />Net of Accumulated Depreciation
<br />
<br />Land
<br />Buildings
<br />Equipment
<br />1m provem ents
<br />Infrastructure
<br />Construction in Progress
<br />Total
<br />
<br />Governmental
<br />Activities
<br />2007
<br />$ 7,925,969
<br />7,510,072
<br />4,974,474
<br />2,571,031
<br />11,187,460
<br />18,558,412
<br />$ 52,727,418
<br />
<br />Business-type
<br />Activities
<br />2007
<br />$ 2,308,777
<br />360,907
<br />180,226
<br />69,928,070
<br />31,697,149
<br />3,141,809
<br />$ 107,616,938
<br />
<br />
<br /> Total
<br />$ 10,234,746
<br /> 7,870,979
<br /> 5,154,700 -
<br /> 72,499,101
<br /> 42,884,609
<br /> 21,700,221
<br />$ 160,344,356
<br />
<br />Additional information of the City of La Porte's capital assets can be found in Note 4 on pages 58-60 of this
<br />report.
<br />
<br />Debt Administration - At the end of the current fiscal year, the City of La Porte had bonded debt payable of
<br />$49,192,500. Of this amount, $40,985,000 comprises bonded debt backed by the full faith and credit of the
<br />government and $8,207,500 represents bonds secured solely by water and sewer revenues.
<br />
<br />Outstanding Debt at Year End
<br />Bonds Payable
<br />
<br />General Obligations
<br />Revenue Bonds Payable
<br />Certificate of Obligations
<br />Total
<br />
<br />Governmental
<br />Activities
<br />2007
<br />$ 16,930,000
<br />
<br />24,055,000
<br />$ 40,985,000
<br />
<br />Business-type
<br />Activities
<br />2007
<br />
<br />$
<br />
<br />5,845,000
<br />2,362,500
<br />$ 8,207,500
<br />
<br />Totals
<br />$ 16,930,000
<br />5,845,000
<br />26,417,500
<br />$ 49,192,500
<br />
<br />-
<br />
<br />The City of La Porte maintains an "Aa3", "A+", "AA" by Moody's, Standard and Poor's and Fitch respectively for
<br />general obligation debt. The revenue bonds have been rated "A" by all three of these rating agencies.
<br />
<br />....
<br />
<br />Additional information on the City of La Porte's long-term debt can be found in Note 5 on pages 61-65 of this
<br />report.
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