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Paris Economic Development Corporation
<br />(A Component Unit of the City of Paris, Texas)
<br />Continuing Disclosure Information
<br />September 30, 2014
<br />(Unaudited)
<br />Sales Tax Collections
<br />The following table shows Sales Tax Collections for the Paris Economic Development Corporation's 1/4% sales tax for the
<br />five years ended September 30:
<br />Pro Forma Bonded Debt Service Coverage
<br />Maximum Annual Debt Service Requirement (2016)
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Estimated Pro Forma Coverage
<br />2014
<br />2013
<br />2012
<br />2011
<br />2010
<br />October
<br />$ 97,701.57
<br />$ 97,3]0.53
<br />$ 95,420.37
<br />$ 93,160.73
<br />$ 91,316.16
<br />November
<br />114,348.83
<br />112,362.90
<br />107,894.61
<br />113,944.71
<br />112,001.77
<br />December
<br />100,022.29
<br />87,692.97
<br />85,472.54
<br />83,756.09
<br />81,876.99
<br />January
<br />99,144.63
<br />93,398.77
<br />95,604.34
<br />94,198.44
<br />72,605.01
<br />February
<br />139,328.22
<br />135,537.65
<br />128,112.10
<br />123,832.73
<br />129,328.54
<br />March
<br />83,304.86
<br />87,514.04
<br />86,791.28
<br />84,926.35
<br />85,110.53
<br />April
<br />94,682.24
<br />92,841.95
<br />89,313.73
<br />91,263.32
<br />77,960.05
<br />May
<br />127,251.18
<br />123,708.09
<br />116,340.62
<br />118,937.01
<br />118,561.33
<br />June
<br />99,797.86
<br />98,039.23
<br />90,696.91
<br />93,615.93
<br />90,126.28
<br />July
<br />100,455.16
<br />106,267.35
<br />97,350.69
<br />89,290.63
<br />90,902.36
<br />August
<br />116,746.73
<br />114,731.18
<br />111,539.71
<br />119,235.15
<br />115,346.90
<br />September
<br />103,766.17
<br />106,635.71
<br />98,234.76
<br />96,332.78
<br />100,762.81
<br />Totals
<br />$ 1,276,549.74
<br />$ 1,256,040.37
<br />$ 1,202,771.66
<br />$ 1,202,493.87
<br />$ 1,165,898.73
<br />Pro Forma Bonded Debt Service Coverage
<br />Maximum Annual Debt Service Requirement (2016)
<br />$ 355,221
<br />Projected Annual Sales Tax Receipts 2014 -15
<br />$ 1,250,000
<br />(Pledged Revenues are Gross 1/4 Cent Sales Tax)
<br />Estimated Pro Forma Coverage
<br />3.52 x
<br />Average Annual Remaining Debt Service at September 30, 2014
<br />$ 353,417
<br />Projected Annual Sales Tax Receipts 2014 -15
<br />$ 1,250,000
<br />(Pledged Revenues are Gross 1/4 Cent Sales Tax)
<br />Estimated Pro Forma Coverage
<br />3.54 x
<br />Condensed Corporation Operating Statement
<br />Fiscal Year Ended September 30,
<br />2014 2013 2012 2011 2010
<br />Operating Revenues:
<br />Sales Taxes $ 1,282,550 $ 1,261,040 $ 1,198,772 $ 1,206,494 $ 1,168,612
<br />Other Income (Loss) (1) 41,225 6,497 (51,210) (13) 22,977
<br />Total Revenues 1,323,775 1,267,537 1,147,562 1,206,481 1,191,589
<br />Operating Expenses:
<br />Projects 2,450,244 194,883 1,757,106 (2) 324,732 684,921
<br />Administration, Personnel
<br />and Promotion 348,893 602,356 730,349 432,300 395,827
<br />Total Expenses 2,799,137 797,239 2,487,455 757,032 1,080,748
<br />Net Available for Additional
<br />Economic Incentives or
<br />Debt Service $ (1,475,362) $ 470,298 $ (1,339,893) $ 449,449 $ 110,841
<br />Source: Information received from the Issuer.
<br />(1) The net of interest income, interest expense, and gain or loss on the sale of assets.
<br />(2) Includes a one -time contribution to a regional highway project for $1,488,588.
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