Sarasota County, Florida Notes to Financial Statements September 30, 2022 Purpose Maturity Interest Rate Annual Principal Installment Range Original Principal Amount Outstanding Principal Amount Revenue Note, Series 2014B (Bank Term Loan) To finance or refinance all or a portion of the costs of improvements to the issuer’s 800MHz critical public safety communication system and radios. 2024 2.48% $ 1,950,000 to 1,995,000 17,955,000 3,945,000 Total Revenue Notes (Bank Term Loans) – Governmental Activities $ 8,539,000 Total Notes Payable from direct placements – Governmental Activities $ 75,704,000 D. Business-type Activity Debt Business-type activity debt at year-end consisted of self-supporting revenue bonds and notes payable from direct placements. Self-supporting Revenue Bonds The County issues Utility System bonds which are secured by a lien upon and pledge of net revenues derived from operation of the County’s Utility System and lawfully available impact fees. Self-supporting revenue bonds outstanding at year-end were as follows: Issue Purpose Maturity Interest Rate Annual Principal Installment Range Original Principal Amount Outstanding Principal and Unamortized Premium Amount Utility System Revenue Bonds, Series 2013 To acquire facilities expanding the County’s Utility System. 2023 5.00% $ 835,000 $35,600,000 $ 851,688 Utility System Revenue Bonds, Series 2016A To finance the engineering, design, and improvements to various facilities expanding and improving the County’s Utility System. 2043 4.00% 5,955,000 to 6,440,000 18,590,000 19,749,306 Utility System Revenue Refunding Bonds, Series 2016B To advance refund all or a portion of the County’s Utility System Revenue Bonds, Series 2007, maturing on or after October 1, 2018. 2037 4.00% to 5.00% 1,415,000 to 4,470,000 43,015,000 47,879,186 124
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