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<br />Paris Economic Development Corporation
<br />(A Component Unit of the City of Paris, Texas)
<br />Continuing Disclosure Information
<br />(Unaudited)
<br />
<br />Sales Tax Collections
<br />The following table shows Sales Tax Collections for the Paris Economic Development Corporation's 1/4%
<br />sales tax for the five years ended September 30,2005:
<br />
<br />October
<br />November
<br />December
<br />January
<br />February
<br />March
<br />April
<br />May
<br />June
<br />July
<br />August
<br />September
<br />Totals
<br />
<br />Fiscal Year
<br />2004-05
<br />$ 70,285.42
<br />100,256.78
<br />67,281.60
<br />72,957.02
<br />118,587.03
<br />69,789.83
<br />68,029.22
<br />101,310.24
<br />73,271.56
<br />77,849.58
<br />100,414.56
<br />80,952.28
<br />$1,000,985.12
<br />
<br />Fiscal Year
<br />2003-04
<br />$ 65,923.96
<br />94,123.54
<br />70,572.68
<br />65,910.92
<br />108,397.88
<br />69,157.00
<br />65,462.23
<br />99,416.34
<br />70,797.62
<br />73,846.17
<br />101,302.10
<br />78,887.97
<br />$ 963,798.41
<br />
<br />Fiscal Year
<br />2002-03
<br />$ 68,571.50
<br />103,503.28
<br />67,994.97
<br />67,958.27
<br />104,726.44
<br />62,995.32
<br />60,076.19
<br />92,500.48
<br />70,048.21
<br />76,369.23
<br />86,326.04
<br />75,461.24
<br />$ 936,531.17
<br />
<br />Fiscal Year
<br />2001-02
<br />$ 45,155.74
<br />93,197.03
<br />71,448.97
<br />60,777.95
<br />123,239.11
<br />56,620.80
<br />61,840.09
<br />88,392.63
<br />69,311.76
<br />68,869.33
<br />90,410.02
<br />73,235.34
<br />$ 902,498.77
<br />
<br />Fiscal Year
<br />2000-01
<br />$ 66,497.71
<br />99,768.29
<br />60,942.36
<br />64,076.18
<br />103,782.78
<br />57,137.58
<br />64,253.56
<br />94,763.07
<br />64,898.16
<br />68,482.69
<br />92,248.31
<br />70,576.38
<br />$ 907,427.07
<br />
<br />Pro Forma Bonded Debt Service Coverage
<br />Maximum Annual Debt Service Requirement (2018) $ 389,181
<br />Projected Annual Sales Tax Receipts 2005-06 970,000
<br />(Pledged Revenues are gross 1/4 cent sales tax)
<br />Estimated Pro Forma Coverage 2.49x
<br />Average Annual Remaining Debt Service at September 30,2005 $ 385,003
<br />Projected Annual Sales Tax Receipts 2005-06 970,000
<br />(Pledged Revenues are gross 1/4 cent sales tax)
<br />Estimated Pro Forma Coverage 2.52x
<br />Condensed Corporation Operating Statement
<br /> Fiscal Year Ended September 30
<br /> 2005 2004 2003 2002 2001
<br />Operating Revenues:
<br />Sales Taxes $ 1,013,371 $ 958,941 $ 945,281 $ 914,999 $ 907,427
<br />*Other Income (Loss) (43,268) (47,377) 6,280 16,469 62,368
<br />Total Revenues 970,103 911,564 951,561 931,468 969,795
<br />Operating Expenses:
<br />Projects 464,422 221,204 575,561 612,253 741,628
<br />Administration and
<br />Promotion 209,611 204,713 271,819 246,458 191,274
<br />Total Expenditures 674,033 425,917 847,380 858,711 932,902
<br />Net Available for Additional
<br />Economic Incentives or
<br />Debt Service $ 296,070 $ 485,647 $ 104,181 $ 72,757 $ 36,893
<br />
<br />Source: Information received from the Issuer.
<br />* The net of interest income, interest expense, and gain or loss on the sale of assets.
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