Sarasota County, Florida Notes to Financial Statements September 30, 2022 The Limited Ad Valorem Tax Refunding Bond (Bank Term Loan), which is secured by a pledge of the Limited Ad Valorem Tax Revenues, outstanding at year-end was as follows: Issue Purpose Maturity Interest Rate Annual Principal Installment Range Original Principal Amount Outstanding Principal Amount Limited Ad Valorem Tax Refunding Bond (Environmentally Sensitive Lands and Parkland Program), Series 2014 (Bank Term Loan) To advance refund a portion of the County’s Limited Ad Valorem Tax Bonds (Environmentally Sensitive Lands and Parkland Program), Series 2008, maturing on or after October 1, 2019. 2029 2.70% $ 6,275,000 to 7,345,000 $70,740,000 $47,615,000 Total Limited Ad Valorem Tax Bonds – Governmental Activities $ 47,615,000 The Revenue Notes (Bank Term Loans), which are secured by a covenant to annually budget and appropriate funds to pay for debt service from legally available Non-Ad Valorem Revenues, outstanding at year-end were as follows: Purpose Maturity Interest Rate Annual Principal Installment Range Original Principal Amount Outstanding Principal Amount Revenue Note, Series 2013A (Bank Term Loan) To finance or refinance all or a portion of the acquisition and construction of certain improvements to Siesta Public Beach. 2024 2.78% $ 1,248,000 to 1,277,000 $12,543,000 $ 2,525,000 Revenue Note, Series 2014A (Bank Term Loan) To finance or refinance all or a portion of the acquisition and construction of certain improvements to Bee Ridge Road. 2024 2.55% $ 1,023,000 to 1,046,000 10,044,000 2,069,000 123
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