Sarasota County Comprehensive Annual Financial Report 2019

Sarasota County, Florida Notes to Financial Statements September 30, 2019 Commercial Paper Commercial paper loans are borrowed for a period of up to five years. The principal payments are set by Resolution for each loan during the financing process. A Note is issued which defines the principal repayment dates and amounts. The variable interest rate is paid based on the sales of taxable commercial paper and is reset on a monthly basis. Issue Purpose/ Revenue Pledged Maturity Interest Rate Original Amount Outstanding Amount Capital Improvement Revenue Bonds, Series 2019A 2039 4.00% to 5.00% 15,085,000 $ 17,380,106 $ Capital Improvement Refunding Revenue Bonds, Series 2019B 2040 4.00% to 5.00% 19,385,000 22,342,471 Capital Improvement Refunding Revenue Bonds, Series 2019C To finance the construction of a new Sheriff's Office Support Services Facility to provide for Sheriff's vehicle maintenance and administrative support functions. Secured by a pledge of the Half-Cent Sales Tax Revenues To advance refund all of the County's Capital Improvement Revenue Bonds, Series 2010A, maturing on or after October 1, 2020 and the County's Communications Services Tax Revenue Bonds, Series 2010, maturing on or after October 1, 2020. Secured by a pledge of the Half-Cent Sales Tax Revenues To advance refund all of the County's Capital Improvement Revenue Bonds, Series 2010B, maturing on or after October 1, 2020. Secured by a pledge of the Half-Cent Sales Tax Revenues 2040 3.00% to 5.00% 10,215,000 11,128,229 Total Non-self-supporting Revenue Bonds 201,738,860 $ Interest Original Outstanding Issue Purpose Maturity Rate Amount Amount Florida Local Government Finance Commission, Pooled Commercial Paper Program General government capital projects, including buildings, roads, and environmental lands 2024 Variable N/A 17,992,000 $ Total Commercial Paper Debt - Governmental Activities 17,992,000 $ 110