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<br /> COMPUTATION OF SELF-SUPPORTING DEBT <br /> Waterworks and Sewer System Debt <br /> Net Revenue from Waterworks and Sewer System.Fiscal Year Ended 9-30-84--------------$ 1,367,840 <br /> Less: Average Annual Requirements for Outstanding Revenue Bonds and <br /> Certificates, 198 -2008------------------------------------------------------ 230,229 <br /> Balance Available for Other Purposes------------------------------------------------ 1,137,611 <br /> Less: Average Annual Requirements for System General Obligation' <br /> Debt, 1985-2004------------------------------------------------------------- 744,603 <br /> Ba1ance---------------------------------------------~----------------------------- $ 393,008 <br /> Percentage of System General Obligation Debt Self-Supporting----------------------- 100.00% <br /> Airport Debt <br /> Net Revenue from Airport System Fund, Fiscal Year Ended 9-30-84-------------------- $ (10,230) <br /> Less: Average Annual Requirements for Combination Tax and Airport <br /> Revenue Certificates of Obligation, 1985-89--------------------------------- 20.407 <br /> Balance Available for Other Purposes ---------------------------------------------- $ -0- <br /> Percentage of Combination Tax and Airport Revenue Certificates <br /> of Obligation Self-Supporting---------------------------------------------------- -O- <br /> Nate: The City transferred $59,455 from the general fund to cover this year's deficit. <br /> PROCEEDS <br /> Proceeds from the sale of the Bonds will go to fund the following: <br /> Projected Costs* <br /> Streets and Drainage $ 2,050,000 <br /> Parks and Recreation 250,000 <br /> Traffic Lights 150,000 <br /> Public Works Complex $ 570,000 <br /> 3,020,000 <br /> * Contingency, engineering fees, legal fees, and other issuing costs have been included in <br /> each p"oject cost. <br /> PENSION PLAN <br /> All eligible employees of the City are members of the Texas Municipal Retirement System. The <br /> members contribute 5% of their salaries and the City contributes a variable percentage (currently <br /> 8%) of these salaries. The City's policy is to pay all pension plan costs as they are accrued. <br /> The contribution rate is not subject to annual adjustment as a result of actuarial va1u~tions. <br /> The total amount paid to the System in the year ended September 30,1984, was approximately <br /> 5143,901. <br /> -14- <br />