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<br /> (L~ D~
<br /> City of San Marcos, Texas
<br /> Exhibit 6
<br /> Notes to General Purpose Financial Statements (continued)
<br /> September 30, 1992
<br /> 6. Long- Terri1 Debt (continued)
<br /> Payable from Water and Sewer Fund (continued):
<br /> $2,660,000, Series 1988A Waterworks and Sewer System
<br /> Revenue Bonds, serial bonds due in annual installmentS
<br /> from $10,000 to $750,000 through January 1,2005;
<br /> bearing interest at 7.0% to 9.8% $ 2,540,000
<br /> $850,000, Series 1991 Waterworks and Sewer System
<br /> Revenue Bonds, serial bonds due in annual installmentS
<br /> from $25,000 to $250,000 through January 1,2005;
<br /> bearing interest at 6.3% to 9% 850,000
<br /> $1,050,000, Series 1992 Waterworks and Sewer System
<br /> Revenue Bonds, serials due in annual installmentS from .
<br /> $25,000 to $200,000 through January 1,2006; bearing
<br /> interest at 5.5% to 8.5% 1,050,000
<br /> 14,510,000
<br /> Accrued for vacation and sick leave -long-term 82,000
<br /> Total Water and Sewer Fund 14,592,000
<br /> Total Enterprise Fund debt $ 30,167,000
<br /> In prior years, the City defeased certain bonds ,by placing the proceeds of refunding bonds
<br /> in an ÍITevocable trust to provide for all future deb~ service paymentS on the defeased
<br /> bonds. Accordingly, the trust account assets and the liability for the defeased bonds are
<br /> not included in the City's financial statements. At September 3O, 1992, the outStanding
<br /> balance of the defeased bonds is $5,295,OeXl
<br /> As of September 3O, 1992, the City had authorized and unissued bonds as follows:
<br /> General obligation bonds $ 4,600,000
<br /> Utility revenue bonds $ 10,980,000
<br /> On December 1, 1992, the City issued the $4,600,000 in general obligation bonds. The
<br /> bond proceeds will be used primarily for the preparation and implementation of a
<br /> drainage master plan and improvementS to City streetS.
<br /> - 31-
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