Sarasota County, Florida Notes to Financial Statements September 30, 2024 B. Debt Issuance $27,620,000 Capital Improvement Revenue Bonds, Series 2023B In November 2023, the County issued Capital Improvement Revenue Bonds, Series 2023B in the principal amount of $27,620,000 to finance the construction an Administration office for County Administration and Board Chambers, and an Enterprise Information Technology Center and Employee Health Center. The Series 23B Bonds are secured by a lien upon and pledge of Half-Cent Sales Tax revenues and have an interest rate of 5% $82,540,000 Infrastructure Sales Surtax Revenue Bonds, Series 2023 In November 2023, the County issued Infrastructure Sales Surtax Revenue Bonds, Series 2023 in the principal amount of $82,540,000 to finance a variety of capital projects including but not limited to an additional pool at Selby Aquatic Center, advance ROW acquisition program, Blackburn Point Road movable bridge replacement, bridge repair, rehabilitation and replacement program, County History Center/Fruitville Library expansion and renovation, data center replacement, educational outreach garden, Snook Haven Park improvements, fiber optic data transmission lines, Fire/ EMS regional training academy/ phase II construction, Fruitville Road widening from Debrecen Road to Lorraine Road, Honore Avenue widening (Fruitville Road to 17th Street), Lorraine Road extension (Fruitville to Palmer), new County Administration center, parks, recreation and natural resources administration facility, replacement of helicopter air 2, solar photovoltaic program, sports complex, and athletic facilities development and improvements, Nathan Benderson Park connector trail, and the Supervisor of Elections administrative facility. The Series 2023 Bonds are secured by a lien upon and pledge of infrastructure surtax and have an interest rate of 5% $25,035,000 Capital Improvement Revenue Bonds, Series 2024A In January 2024, the County issued Capital Improvement Revenue Bonds, Series 2024A in the principal amount of $25,035,000 to finance the acquisition, construction and equipping of a sports stadium to include approximately four multi-purpose fields, nine youth softball fields, three adult softball fields and multiple buildings across the sports complex, including, but not limited to, maintenance facilities, restrooms, concessions, meeting rooms, office spaces, locker rooms and storage, to be located at the 17th Street Regional Park. The Series 2024A Bonds are secured by a lien upon and pledge of Half-Cent Sales Tax revenues and have an interest rate of 5%. $23,535,000 Capital Improvement Revenue Bonds, Series 2024B In March 2024, the County issued Capital Improvement Revenue Bonds, Series 2024B in the principal amount of $23,535,000 to finance the acquisition, construction and equipping of a Planning and Development Services One Stop Center and a Parks, Recreation and Natural Resources Admin Facility. The Series 2024B Bonds are secured by a lien upon and pledge of Half-Cent Sales Tax revenues and have an interest rate of 5%. $14,640,000 Tourist Development Tax Revenue Bonds, Series 2024A In March 2024, the County issued Capital Improvement Revenue Bonds, Series 2024A in the principal amount of $14,640,000 to finance a grant that will be made by the County to Mote Marine Laboratory Inc. "Mote" to be used to pay for the construction of an aquarium to be owned and operated by Mote. The Series 2024A Bonds are secured by a lien upon and pledge of Tourist Development Tax revenues and have an interest rate ranging between 4 and 5%. 119
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