Sarasota County Comprehensive Annual Financial Report 2019

Sarasota County, Florida Notes to Financial Statements September 30, 2019 Business-type Activity Debt Long-term debt of business-type activities at year-end consisted of the following: Self-supporting Revenue Bonds The County issues bonds where the government pledges income derived from the acquired or constructed assets to pay debt service. Interest Original Outstanding Issue Purpose Maturity Rate Amount Amount Utility System Revenue Refunding Bonds, Series 2011A To current refund all of the Utility System Series 2002A and Series 2002B Bonds. Secured by a pledge of Net Revenues derived from operation of the utility system and lawfully available impact fees as defined in the official statement 2030 4.00% to 5.00% $ 13,425,000 $ 13,113,130 Utility System Revenue Refunding Bonds, Series 2011B To advance refund a portion of the Utility System Series 2002C Bonds. Secured by a pledge of Net Revenues derived from operation of the utility system and lawfully available impact fees as defined in the official statement 2022 3.00% to 3.25% 4,435,000 1,478,641 Utility System Revenue Bonds, Series 2013 To finance the acquisition of facilities expanding the County's Utility System. Secured by a pledge of Net Revenues derived from operation of the utility system and lawfully available impact fees as defined in the official statement 2043 4.50% to 5.00% 35,600,000 33,363,544 Utility System Revenue Bonds, Series 2016A To finance the engineering, design, and improvements to various facilities expanding and improving the County's Utility System. Secured by a pledge of Net Revenues derived from operation of the utility system and lawfully available impact fees as defined in the official statement 2043 4.00% 18,590,000 19,922,975 Utility System Revenue Refunding Bonds, Series 2016B To advance refund all or a portion of the County's Utility System Revenue Bonds, Series 2007, maturing on or after October 1, 2018. Secured by a pledge of Net Revenues derived from operation of the utility system and lawfully available impact fees as defined in the official statement 2037 4.00% to 5.00% 43,015,000 49,421,463 Utility System Revenue Refunding Bonds, Series 2019A To advance refund all of the County's Utility System Revenue Bonds, Series 2010, maturing on or after October 1, 2020. Secured by a pledge of Net Revenues derived from operation of the utility system and lawfully available impact fees as defined in the official statement 2040 5.00% 38,725,000 46,569,435 $163,869,188 Total Self-supporting Revenue Bonds 113