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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, 2006:
<br />
<br /> Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
<br /> 2005-06 2004-05 2003-04 2002-03 2001-02
<br />October $ 78,521.27 $ 70,285.42 $ 65,923.96 $ 68,571.50 $ 45,155.74
<br />November 101,335.94 100,256.78 94,123.54 103,503.28 93,197.03
<br />December 78,925.11 67,281.60 70,572.68 67,994.97 71,448.97
<br />January 76,474.78 72,957.02 65,910.92 67,958.27 60,777.95
<br />February 122,263. 65 118,587.03 108,397.88 104,726.44 123,239.11
<br />March 77,196.42 69,789.83 69,157.00 62,995.32 56,620.80
<br />April 62,161.14 68,029.22 65,462.23 60,076.19 61,840.09
<br />May 110,259.06 101,310.24 99,416.34 92,500.48 88,392.63
<br />June 87,009.11 73,271.56 70,797.62 70,048.21 69,311.76
<br />July 82,354.41 77,849.58 73,846.17 76,369.23 68,869.33
<br />August 109,883.37 100,414.56 101,302.10 86,326.04 90,410.02
<br />September 87,089.96 80,952.28 78,887.97 75,461.24 73,235.34
<br />Totals $1,073,474.22 $ 1,000,985.12 $ 963,798.41 $ 936,531.17 $ 902,498.77
<br />
<br />Pro Forma Bonded Debt Service Coverage
<br />Maximum Annual Debt Service Requirement (2018) $ 389,181
<br />Projected Annual Sales Tax Receipts 2006-07 $ 1,000,000
<br />(Pledged Revenues are gross 1/4 cent sales tax)
<br />Estimated Pro Forma Coverage 2.57
<br />Average Annual Remaining Debt Service at September 30, 2006 $ 384,984
<br />Projected Annual Sales Tax Receipts 2006-07
<br />(Pledged Revenues are gross 1/4 cent sales tax) $ 1,000,000
<br />Estimated Pro Forma Coverage 2.60
<br />Condensed Corporation Operating Statement
<br /> Fiscal Year Ended September 30
<br /> 2006 2005 2004 2003 2002
<br />Operating Revenues:
<br />Sales Taxes $ 1,080,270 $ 1,013,371 $ 958,941 $ 945,281 $ 914,999
<br />*Other Income (Loss) (7,367) ( 43,268) (47,377) 6,280 16,469
<br />Total Revenues 1,072,903 970,103 911,564 951,561 931,468
<br />Operating Expenses:
<br />Projects 107,725 464,422 221,204 575,561 612,253
<br />Administration and
<br />Promotion 247,977 209,611 204,713 271,819 246,458
<br />Total Expenditures 355,702 674,033 425,917 847,380 858,711
<br />Net Available for Additional
<br />Economic Incentives or
<br />Debt Service $ 717,201 $ 296,070 $ 485,647 $ 104,181 $ 72,757
<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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