Sarasota County, Florida Notes to Financial Statements September 30, 2023 The Revenue Notes (Bank Term Loans), which are secured by a covenant to annually budget and appropriate funds to pay for debt service from legally available Non-Ad Valorem Revenues, 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. 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 Revenue Note, Series 2013A (Bank Term Loan) To finance or refinance all or a portion of the acquisition and construction of certain improvements to Siesta Public Beach. 2024 2.78% $1,277,000 $ 12,543,000 $ 1,277,000 Revenue Note, Series 2014A (Bank Term Loan) To finance or refinance all or a portion of the acquisition and construction of certain improvements to Bee Ridge Road. 2024 2.55% 1,046,000 10,044,000 1,046,000 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% 1,995,000 17,955,000 1,995,000 Total Revenue Notes (Bank Term Loans) - Governmental Activities $ 4,318,000 Total Notes Payable from Direct Placements - Governmental Activities $ 58,198,000 125
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