Sarasota County Consolidated Major Revenue and Debt Report 2019

2a - GENERAL OBLIGATION DEBT $32,455,000 GENERAL OBLIGATION BONDS, SERIES 2019 Amount Outstanding: $32,455,000 FY2020 Debt Service: Principal - $800,000 Interest - $1,621,112 Maturity Date: October 1, 2038 Interest Rates: 2.00-5.00% Insured: No Underlying Ratings: Standard & Poor’s AAA; Fitch AAA Purpose: The $32,455,000 General Obligation Bonds, Series 2019 dated June 25, 2019 were issued to finance a portion of the costs of the acquisition and improvement of the Legacy Trail Extension railroad corridor within the County and to pay certain costs and expenses incurred in connection with the issuance of the Series 2019 Bonds. Pledge: The Series 2019 Bonds are secured by the full faith, credit and taxing power of the County. 2b - NON-SELF-SUPPORTING REVENUE DEBT $17,245,000 SECOND GUARANTEED ENTITLEMENT REVENUE BONDS, SERIES 2013 Amount Outstanding: $15,155,000 FY2020 Debt Service: Principal - $385,000 Interest - $690,800 Maturity Date: October 1, 2043 Interest Rates: 3.00-5.00% Insured: No Underlying Ratings: Fitch AA+ Purpose: The $17,245,000 Second Guaranteed Entitlement Revenue Bonds, Series 2013 dated October 2, 2013 were issued to finance the planning, engineering, constructing, reconstructing and equipping of an emergency operations center for the County. Pledge: The Series 2013 Second Guaranteed Entitlement Revenue Bonds are secured by the Second Guaranteed Entitlement funds portion of the Revenue Sharing Trust Fund. $37,355,000 INFRASTRUCTURE SALES SURTAX REVENUE REFUNDING BONDS, SERIES 2014 Amount Outstanding: $27,950,000 FY2020 Debt Service: Principal - $5,055,000 Interest - $1,397,500 Maturity Date: October 1, 2024 Interest Rate: 5.00% Insured: No Underlying Ratings: Standard & Poor’s AA; Fitch AA+ Purpose: The $37,355,000 Infrastructure Sales Surtax Revenue Bonds, Series 2014 dated October 16, 2014 were issued to advance refund all or a portion of the County’s Infrastructure Sales Surtax Revenue Bonds, Series 2008B maturing on or after October 1, 2018. This transaction had an aggregate difference in debt service of $3,854,873 and a net present value savings to the County of $3,448,340. Pledge: The Series 2014 Bonds are secured by a pledge of the Infrastructure Sales Surtax Revenues. $33,490,000 INFRASTRUCTURE SALES SURTAX REVENUE REFUNDING BONDS, SERIES 2015 Amount Outstanding: $28,470,000 FY2020 Debt Service: Principal - $5,225,000 Interest - $1,316,900 Maturity Date: October 1, 2024 Interest Rates: 4.00-5.00% Insured: No Underlying Ratings: Standard & Poor’s AA; Fitch AA+ Purpose: The $33,490,000 Infrastructure Sales Surtax Revenue Bonds, Series 2015 dated March 25, 2015 were issued to advance refund the County’s Infrastructure Sales Surtax Revenue Bonds, Series 2008A maturing on or after October 1, 2019. This transaction had an aggregate difference in debt service of $1,917,286 and a net present value savings to the County of $1,688,755. Pledge: The Series 2015 Bonds are secured by a pledge of the Infrastructure Sales Surtax Revenues. The Series 2015 Bonds are on parity with the Series 2014 Bonds. 32 Consolidated Major Revenue & Debt Report 2019 2019 INDEBTEDNESS