Sarasota County, Florida Notes to Financial Statements September 30, 2021 Notes Payable from direct placements – Governmental Activities There were five types of non-self-supporting revenue notes payable from direct placements outstanding at year-end: Communications Services Tax Revenue Refunding Notes, a Five-Cent Local Option Fuel Tax Revenue Refunding Note, an Infrastructure Sales Surtax Revenue Note, a Limited Ad Valorem Tax Refunding Bond (Bank Term Loan) and Revenue Notes (Bank Term Loans). Communications Services Tax Revenue Refunding Notes, which are secured by a pledge of the Communications Services Tax Revenues, outstanding at year-end were as follows: Annual Principal Original Outstanding Interest Installment Principal Principal Issue Purpose Maturity Rate Range Amount Amount Communications Services Tax Revenue Refunding Note, Series 2014 (Bank Term Loan) Communications Services Tax Revenue Refunding Note, Series 2015 (Bank Term Loan) To advance refund a portion of the County’s Communications Services Tax Revenue Bonds, Series 2005A and Series 2005B, maturing on or after October 1, 2016. To advance refund a portion of the County’s Communications Services Tax Revenue Bonds, Series 2006, maturing on or after October 1, 2017. 2025 2.72% $ 1,810,000 $17,690,000 $ 7,510,000 to 1,950,000 2026 2.20% 1,140,000 11,430,000 5,955,000 to 1,245,000 Total Communications Services Tax Revenue Notes – Governmental Activities $ 13,465,000 The Five-Cent Local Option Fuel Tax Revenue Refunding Note, which is secured by a pledge of the FiveCent Local Option Fuel Tax Revenues, outstanding at year-end was as follows: Annual Issue Purpose Maturity Interest Rate Principal Installment Range Original Principal Amount Outstanding Principal Amount Five-Cent Local To advance refund a 2025 2.29% $ 950,000 $9,255,000 $ 3,915,000 Option Fuel Tax Revenue Refunding Note, Series 2014 portion of the County’s Five-Cent Local Option Fuel Tax Revenue Bonds, Series 2005, to 1,010,000 (Bank Term Loan) maturing on or after October 1, 2016. Total Five-Cent Local Option Fuel Tax Revenue Notes – Governmental Activities $ 3,915,000 The Infrastructure Sales Surtax Revenue Note, which is secured by a pledge of the Infrastructure Sales 117
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