Sarasota County, Florida Notes to Financial Statements September 30, 2024 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: The State Infrastructure Bank Loan, which is secured by a pledge of the revenues derived from County Road Impact Fees and the South County Mobility District Fees, outstanding at year-end were as follows: 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, and Solid Waste bonds which are secured by a lien upon and pledge of net revenues derived from the operations of the County’s Solid Waste System. 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 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% $6,615,000 to 7,345,000 $ 70,740,000 34,895,000 $ Total Limited Ad Valorem Tax Bonds - Governmental Activities $ 34,895,000 Issue Purpose Maturity Interest Rate Annual Principal Installment Range Original Principal Amount Outstanding Principal Amount State Infrastructure Bank Loan, Series 2020 To finance the improvements necessary to widen and reconstruct River Road, in Sarasota County 2033 2.00% $1,098,730 to 1,288,180 $ 12,000,000 10,724,000 $ Total State Infrastructure Bank Loans - Governmental Activities $ 10,724,000 Total Notes Payable from Direct Placements - Governmental Activities $ 51,039,000 128
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