This rate is split between the General Fund operation and maintenance and General Obligation Debt Service. Moderate development in Corpus Christi is continuing. Property taxes from industrial companies located in the Industrial Districts are based on negotiated contracts for payments in lieu of taxes. Sales tax revenues have experienced moderate increases of approximately 3.9 percent annual growth during the previous four years. Sales tax revenues are based on historical experience and economic indicators.
Some economic indicators are business expansion, building and development, tourism and new industry.
Retail trade, manufacturing, commerce and industry and tourism continue to be stable. Minimal increases in sales tax growth are anticipated over the next several years. Annual capital and operational costs to maintain the streets and easements are also substantial. This franchise revenue is based on 4 percent of the electric company s gross receipts. The current contract expires December 31, 2000.