$15,085,000 CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2019A Amount Outstanding: $13,110,000 FY2024 Debt Service: Principal – $555,000 Interest – $613,050 Maturity Date: October 1, 2039 Interest Rates: 4.00‑5.00% Insured: No Underlying Ratings: Standard & Poor’s AA+; Fitch AA+ Purpose: The $15,085,000 Capital Improvement Revenue Bonds, Series 2019A dated May 7, 2019 were issued to finance the cost of the construction of a new Sheriff’s Office Support Services Facility, to provide for Sheriff’s vehicle maintenance and administrative support functions, and to pay certain costs and expenses incurred in connection with the issuance of the Series 2019A Bonds. Pledge: The Series 2019A Bonds are secured by the Half‑Cent Sales Tax Revenues. The Series 2019A Bonds are on parity with the Series 2017, 2018A and 2018B Bonds. $19,385,000 CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2019B Amount Outstanding: $15,555,000 FY2024 Debt Service: Principal – $1,010,000 Interest – $731,350 Maturity Date: October 1, 2040 Interest Rates: 4.00‑5.00% Insured: No Underlying Ratings: Standard & Poor’s AA+; Fitch AA+ Purpose: The $19,385,000 Capital Improvement Revenue Refunding Bonds, Series 2019B dated June 5, 2019 were issued to advance refund all of the County’s outstanding Capital Improvement Bonds Series, 2010A, maturing on or after October 1, 2020, and all of the County’s outstanding Communications Services Tax Revenue Bonds, Series 2010, maturing on or after October 1, 2020, and to pay certain costs and expenses incurred in connection with the issuance of the Series 2019B Bonds. The refunding resulted in an economic gain in present value savings of $2,647,241 over the life of the issue. Pledge: The Series 2019B Bonds are secured by the Half‑Cent Sales Tax Revenues. The Series 2019B Bonds are on parity with the Series 2017, 2018A, 2018B and 2019A Bonds. $10,215,000 CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2019C Amount Outstanding: $10,195,000 FY2024 Debt Service: Principal – $5,000 Interest – $353,300 Maturity Date: October 1, 2040 Interest Rates: 3.00‑5.00% Insured: No Underlying Ratings: Standard & Poor’s AA+; Fitch AA+ Purpose: The $10,215,000 Capital Improvement Revenue Refunding Bonds, Series 2019C dated August 22, 2019 were issued to advance refund all of the County’s outstanding Capital Improvement Revenue Bonds, Series 2010B, maturing on or after October 1, 2020, and to pay certain costs and expenses incurred in connection with the issuance of the Series 2019C Bonds. The refunding resulted in an economic gain in present value savings of $1,000,941 over the life of the issue. Pledge: The Series 2019C Bonds are secured by the Half‑Cent Sales Tax Revenues. The Series 2019C Bonds are on parity with the Series 2017, 2018A, 2018B, 2019A and 2019B Bonds. $18,785,000 CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2020 Amount Outstanding: $18,095,000 FY2024 Debt Service: Principal – $245,000 Interest – $795,900 Maturity Date: October 1, 2040 Interest Rates: 2.00‑5.00% Insured: No Underlying Ratings: Standard & Poor’s AA+; Fitch AA+ Purpose: The $18,785,000 Capital Improvement Revenue Bonds, Series 2020 dated May 7, 2020 were issued to finance the cost of the design and construction of the Downtown Cooling Plant, Facilities Energy Conservation Measures Upgrades, East Jail Controls Upgrade and to pay certain costs and expenses incurred in connection with the issuance of the Series 2020 Bonds. Pledge: The Series 2020 Bonds are secured by the Half‑Cent Sales Tax Revenues. The Series 2020 Bonds are on parity with the Series 2017, 2018A, 2018B, 2019A, 2019B and 2019C Bonds. 2023 INDEBTEDNESS 34 Consolidated Major Revenue & Debt Report 2023
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