Sarasota County Comprehensive Annual Financial Report 2020

Sarasota County, Florida Notes to Financial Statements September 30, 2020 Purpose/ Interest Original Outstanding Issue Revenue Pledged Maturity Rate Amount Amount Capital Improvement To finance the construction of a 2039 4.00% $ 15,085,000 $ 16,729,903 Revenue Bonds, new Sheriff's Office Support to Series 2019A Services Facility to provide for 5.00% Sheriff's vehicle maintenance and administrative support functions. Secured by a pledge of the Half-Cent Sales Tax Revenues (HCSTR). Capital Improvement To advance refund all of the 2040 4.00% 19,385,000 21,208,619 Refunding Revenue County's Capital Improvement to Bonds, Series 2019B Revenue Bonds, Series 2010A, 5.00% 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 HCSTR. Capital Improvement To advance refund all of the 2040 3.00% 10,215,000 11,066,399 Refunding Revenue County's Capital Improvement to Bonds, Series 2019C Revenue Bonds, Series 2010B, 5.00% maturing on or after October 1, 2020. Secured by a pledge of the HCSTR. Capital Improvement To finance the construction of 2040 2.00% 18,785,000 21,996,237 Revenue Bonds, the Downtown Cooling Plant, to Series 2020 Facilities Energy Conservation 5.00% Measures Upgrades and East Jail Controls Upgrade. Secured by a pledge of the HCSTR. Total Non-self-supporting Revenue Bonds - Governmental Activities $ 203,709,815 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. Each note is issued defining 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. 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. 2025 Variable N/A $ 33,649,000 Total Commercial Paper Debt - Governmental Activities $ 33,649,000 113