Sarasota County Comprehensive Annual Financial Report 2020

Sarasota County, Florida Notes to Financial Statements September 30, 2020 Business-type Activity Debt Long-term debt of business-type activities at year-end consisted of the following (outstanding amounts includes premiums): Self-supporting Revenue Bonds The County issues bonds where the government pledges income derived from the acquired or constructed assets to pay debt service. Purpose/ Interest Original Outstanding Issue Revenue Pledged Maturity Rate Amount Amount Utility System Revenue Refunding Bonds, Series 2011A Utility System Revenue Refunding Bonds, Series 2011B Utility System Revenue Bonds, Series 2013 Utility System Revenue Bonds, Series 2016A Utility System Revenue Refunding Bonds, Series 2016B Utility System Revenue Refunding Bonds, Series 2019A To refund all of the Utility System 2030 4.00% $ 13,425,000 $ 12,385,757 Series 2002A and 2002B Bonds. to Secured by a pledge of net revenues 5.00% derived from operation of the utility system (NROUS) and lawfully available impact fees (LAIF) as defined in the official statement. To advance refund a portion of the 2022 3.25% 4,435,000 999,364 Utility System Series 2002C Bonds. Secured by a pledge of NROUS and LAIF as defined in the official statement. To finance the acquisition of facilities 2043 4.50% 35,600,000 32,549,813 expanding the County's Utility System. to Secured by a pledge of NROUS and 5.00% LAIF as defined in the official statement. To finance the engineering, design, 2043 4.00% 18,590,000 19,865,086 and improvements to various facilities expanding and improving the County's Utility System. Secured by a pledge of NROUS and LAIF as defined in the official statement. To advance refund all or a portion of 2037 4.00% 43,015,000 48,907,370 the County's Utility System Revenue to Bonds, Series 2007, maturing on or 5.00% after October 1, 2018. Secured by a pledge of NROUS and LAIF as defined in the official statement. To advance refund all of the County's 2040 5.00% 38,725,000 46,125,685 Utility System Revenue Bonds, Series 2010, maturing on or after October 1, 2020. Secured by a pledge of NROUS and LAIF as defined in the official statement. Total Self-supporting Revenue Bonds - Business-type Activities $160,833,075 116