Sarasota County Comprehensive Annual Financial Report 2019

Sarasota County, Florida Notes to Financial Statements September 30, 2019 Notes Payable from direct placements – Business-type Activities Interest Original Outstanding Issue Purpose Maturity Rate Amount Amount State of Florida - State Revolving Fund Loan To finance the construction for the Phillippi Creek Collection and Transmission Facilities Area O and P Vacuum Collection System. Secured by a pledge of Net Operating Revenues and Impact Fees of Water and Wastewater Utilities 2036 2.19% to 2.55% 13,642,401 $ 11,835,867 $ 36,159,320 $ Total Notes Payable from direct borrowings – Business-type Interest Original Outstanding Issue Purpose Maturity Rate Amount Amount Utility System Revenue Refunding Note, Series 2012 To refund a portion of the Utility System Revenue Refunding Bond, Series 2011D, maturing on or after October 1, 2022, and certain loans from the State of Florida Department of Environmental Protection. Secured by lien upon and pledge of the Net Revenues derived by the operation of the Utility System and lawfully available Impact Fees 2022 1.64% 50,290,000 $ 13,950,000 $ Subordinate Utility System Revenue Refunding Note, Series 2012 To refund all or a portion of certain loans from the State of Florida Department of Environmental Protection. Secured by lien upon and pledge of the Net Revenues derived by the operation of the Utility System and lawfully available Impact Fees 2025 2.20% 15,720,000 7,520,000 115