Sarasota County Consolidated Major Revenue and Debt Report 2019

$50,290,000 UTILITY SYSTEM REVENUE REFUNDING NOTE, SERIES 2012 Amount Outstanding: $13,950,000 FY2020 Debt Service: Principal - $4,815,000 Interest - $228,459 Maturity Date: October 1, 2022 Interest Rate: 1.64% Purpose: The $50,290,000 Utility System Revenue Refunding Note, Series 2012 dated August 24, 2012 was issued to refund the Utility System Revenue Refunding Bond, Series 2011D (Taxable) and refinancing certain loans to the Issuer from the Florida Department of Environmental Protection. Pledge: The Series 2012 Note is secured by a lien upon and pledge of the net revenues derived by the operation of the Utility System and from lawfully available Impact Fees. The Series 2012 Note is on parity with the Series 2011A and 2011B Bonds. $15,720,000 SUBORDINATE UTILITY SYSTEM REVENUE REFUNDING NOTE, SERIES 2012 Amount Outstanding: $7,520,000 FY2020 Debt Service: Principal - $1,290,000 Interest - $165,440 Maturity Date: October 1, 2025 Interest Rate: 2.20% Purpose: The $15,720,000 Subordinate Utility System Revenue Refunding Note, Series 2012 dated November 16, 2012 was issued to refinance all or a portion of certain loans to the County from the State of Florida Department of Environmental Protection or related entities related to the County’s water and sewer utility system. Pledge: The Series 2012 Note is secured by a lien upon and pledge of the net revenues derived by the operation of the Utility System and from lawfully available Impact Fees. The Series 2012 Note is on parity with the Series 2011A and 2011B Bonds and Series 2012 Note. 42 Consolidated Major Revenue & Debt Report 2019 2019 INDEBTEDNESS