introduction presented for your information is the city of pensacola florida s tenth annual report to bondholders it our effort provide useful current and potential investors rating agencies bond insurers municipal analysts other interested parties also mechanism used fulfill obligation has undertaken annually make available secondary market updated consistent with that provided in official statements included background about its services key staff demographics finances particularly as such relate revenues have been pledged support debt service requirements on outstanding bonds addition includes details each issue which a legal including economically but not legally defeased issues all close most recent fiscal year september 30 2003 unless specifically noted different date comprehensive financial cafr will be submitted nationally recognized securities repositories nrmsirs an basis
