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City of Paris, Texas
<br />Notes to Financial Statements
<br />September 30, 2012
<br />IV. Detailed Notes on All Funds and Component Unit (Continued)
<br />E. Interfund Receivables, Payables and Transfers (Continued)
<br />F
<br />Interfund Transfers:
<br />General
<br />Fund
<br />General Fund
<br />Water and
<br />Water and Capital
<br />Sewer Projects Transfers
<br />Fund Fund Out
<br />$ 379,234 $ 446,535 $ 825,769
<br />Sewer Fund 1,544,400 - 3,110,000 4,654,400
<br />Capital Projects Fund - 788,658 - 788,658
<br />Transfer In $ 1,544,400 $ 1,167,892 $ 3,556,535 $ 6,268,827
<br />During the year ended September 30, 2012, the City made budgeted transfers from Water and
<br />Sewer Fund to General Fund of $1,544,400, and from the General Fund to the Capital Projects
<br />Fund of $446,535, and from the General Fund to the Water and Sewer Fund of $379,234 to
<br />complete specific projects. As Water and Sewer projects were completed in the Capital Projects
<br />Fund, accumulated costs transferred to the Water and Sewer Fund were $788,658.
<br />Long-term Liabilities
<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 $295,000 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. These bonds were issued to provide funds for the purchase and renovation of a law
<br />enforcement center for police, courts and jail.
<br />$7,130,000 General Obligation Refunding Bonds, Series 2003, due in annual installments varying
<br />from $196,800 to $384,000 with final payment due December 15, 2014. Interest is payable semi-
<br />annually at rates ranging from 3.65% 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 limit�� pledge (not
<br />to exceed $1,000) of the surplus revenues of the waterworks and sewer systems. ihese bonds
<br />were issued to provide funds for improvements and expansion to South Collegiate Drive.
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