2020 Consolidated Major Revenue and Debt Report

2020 INDEBTEDNESS 2c - SELF-SUPPORTING REVENUE DEBT $13,425,000 UTILITY SYSTEM REVENUE REFUNDING BONDS, SERIES 2011A Amount Outstanding: $12,105,000 FY2021 Debt Service: Principal - $705,000 Interest - $562,413 Maturity Date: October 1, 2030 Interest Rates: 4.00-5.00% Insured: No Underlying Ratings: Standard & Poor’s AA+; Fitch AA+ Purpose: The $13,425,000 Utility System Revenue Refunding Bonds, Series 2011A dated November 3, 2011 were issued for the purpose of refunding the outstanding Utility System Revenue Bonds, Series 2002A and Utility System Revenue Bonds, 2002B. The refunding resulted in an economic gain in present value savings of $1,151,932 over the life of the issue. Pledge: The Series 2011A Bonds are secured by a prior lien and an irrevocable pledge of net revenues derived from the operation of the Utility System, including income from investment of such net revenues and impact fees imposed by the County on new users connecting to the System. $4,435,000 UTILITY SYSTEM REVENUE REFUNDING BONDS, SERIES 2011B Amount Outstanding: $995,000 FY2021 Debt Service: Principal - $490,000 Interest - $32,338 Maturity Date: October 1, 2022 Interest Rate: 3.25% Insured: No Underlying Ratings: Standard & Poor’s AA+; Fitch AA+ Purpose: The $4,435,000 Utility System Revenue Refunding Bonds, Series 2011B dated November 3, 2011 were issued for the purpose of advance refunding a portion of the Utility System Revenue Refunding Bonds, Series 2002C. The refunding resulted in an economic gain in present value savings of $328,121 over the life of the issue. Pledge: The Series 2011B Bonds are secured by a prior lien and an irrevocable pledge of net revenues derived from the operation of the Utility System, including income from investment of such net revenues and impact fees imposed by the County on new users connecting to the System. The Series 2011B Bonds are on parity with the Series 2011A Bonds. $35,600,000 UTILITY SYSTEM REVENUE BONDS, SERIES 2013 Amount Outstanding: $31,260,000 FY2021 Debt Service: Principal - $755,000 Interest - $1,513,175 Maturity Date: October 1, 2043 I nterest Rates: 4.50-5.00% Insured: No Underlying Ratings: Standard & Poor’s AA+; Fitch AA+ Purpose: The $35,600,000 Utility System Revenue Bonds, Series 2013 dated December 13, 2013 were issued for the purpose of fnancing the acquisition of certain water and wastewater utility assets. Pledge: The Series 2013 Bonds are secured by a prior lien and an irrevocable pledge of net revenues derived from the operation of the Utility System, including income from investment of such net revenues and impact fees imposed by the County on new users connecting to the System. The Series 2013 Bonds are on parity with the Series 2011A and 2011B Bonds and the Utility System Revenue Refunding Note, Series 2012. 36 Consolidated Major Revenue & Debt Report 2020