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City of Paris, Texas
<br />Notes to Financial Statements
<br />September 30, 2011
<br />IV. Detailed Notes on All Funds and Component Unit (Continued)
<br />E. Interfund Receivables, Payables, and Transfers (Continued)
<br />Interfund Transfers:
<br />Water and
<br />General
<br />Sewer
<br />Transfer
<br />Fund
<br />Fund
<br />Out
<br />General Fund
<br />$ -
<br />$ 4,807
<br />$ 4,807
<br />Water and
<br />Sewer Fund
<br />1,140,000
<br />-
<br />1,140,000
<br />Capital Projects Fund
<br />-
<br />370,312
<br />370,312
<br />Other Governmental
<br />36,462
<br />-
<br />36,462
<br />Transfer In
<br />$ 1,176,462
<br />$ 375,119
<br />$ 1,551,581
<br />During the year ended September 30, 2011, the City made budgeted transfers from Water and
<br />Sewer Fund to General Fund for $1,140,000; from the General Fund to the Capital Projects Fund
<br />of $4,807 to complete specific projects. As Water and Sewer projects were completed in the
<br />Capital Projects Fund, accumulated costs were transferred to the Water and Sewer Fund, $370,12.
<br />During the year, a special revenue fund was closed out and the balance was transferred to the
<br />General Fund, $36,462.
<br />F. Long-Term Debt
<br />General Obligation Certificates of Obligation and Other Long-Term Obligations:
<br />$6,060,000 Combination Tax and Revenue Certificates of Obligation, Series 2002, due in annual
<br />installments varying from $280,000 to $460,000 with final payment due December 15, 2021.
<br />Interest is payable semi-annually at rates ranging from 4.0% to 4.7%. On December 15, 2012, or
<br />any date thereafter, unpaid principal installments may be prepaid or redeemed prior to their
<br />scheduled due dates at the City's option. The certificates are additionally secured by and payable
<br />from a limited pledge (not to exceed $2,500) of the surplus revenues of the waterworks and sewer
<br />systems.
<br />$7,130,000 General Obligation Refunding Bonds, Series 2003, due in annual installments varying
<br />from $410,000 to $800,000 with final payment due December 15, 2014. Interest is payable semi-
<br />annually at rates ranging from 3.6% to 3.9%. On December 15, 2009, or any date thereafter,
<br />unpaid principal installments may be prepaid or redeemed prior to their scheduled due dates at the
<br />City's option.
<br />$3,005,000 Combination Tax and Revenue Certificates of Obligation, Series 2010, due in annual
<br />installments varying from $105,000 to $230,000 with final payment due December 15, 2029.
<br />Interest is payable semi-annually at 3.2% to 4.2%. On December 15, 2020, or any date thereafter,
<br />unpaid principal installments may be prepaid or redeemed prior to their scheduled due dates at the
<br />City's option. The certificates are additionally secured by and payable from a limited pledge (not
<br />to exceed $1,000) of the surplus revenues of the waterworks and sewer systems.
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