2021 INDEBTEDNESS Purpose: The $70,740,000 Limited Ad Valorem Tax Refunding Bond (Environmentally Sensitive Lands and Parkland Program), Series 2014 dated December 18, 2014 was issued for the purpose of refunding the Series 2008 Bonds maturing on or after October 1, 2019. This transaction had an aggregate difference in debt service of $5,901,676 and a net present value savings to the County of $4,899,018. Pledge: The Series 2014 Bonds are secured by a pledge of the Limited Ad Valorem Tax Revenues. $11,430,000 COMMUNICATIONS SERVICES TAX REVENUE REFUNDING NOTE, SERIES 2015 Amount Outstanding: $5,955,000 FY2022 Debt Service: Principal - $1,140,000 Interest - $131,010 Maturity Date: October 1, 2026 Interest Rate: 2.20% Purpose: The $11,430,000 Communications Services Tax Revenue Refunding Note, Series 2015 dated March 12, 2015 was issued to advance refund the Communications Services Tax Revenue Bonds, Series 2006 maturing on or after October 1, 2017. This transaction had an aggregate difference in debt service of $1,001,446 and a net present value savings to the County of $888,521. Pledge: The Series 2015 Note is secured by a pledge of the revenues from the Communications Services Tax. The Series 2015 Note is on parity with the Series 2014 Note. $9,070,000 INFRASTRUCTURE SALES SURTAX REVENUE NOTE, SERIES 2020 Amount Outstanding: $9,070,000 FY2022 Debt Service: Principal - $3,000,000 Interest - $74,374 Maturity Date: October 1, 2024 Interest Rate: 0.82% Purpose: The $9,070,000 Infrastructure Sales Surtax Revenue Note, Series 2020 dated September 4, 2020 was issued to finance the acquisition, construction and equipping of the improvements to the South County Courts and R.L. Anderson Building Remodel. Pledge: The Series 2020 Note is secured by a pledge on the Infrastructure Sales Surtax Revenues. The Series 2020 Note is on parity with the Series 2014, 2015 and 2018 Bonds. $50,290,000 UTILITY SYSTEM REVENUE REFUNDING NOTE, SERIES 2012 Amount Outstanding: $4,405,000 FY2022 Debt Service: Principal - $4,405,000 Interest - $72,141 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 Bonds, 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 2011B Bonds. $28,000,000 UTILITY SYSTEM REVENUE REFUNDING NOTE, SERIES 2015 Amount Outstanding: $10,030,000 FY2022 Debt Service: Principal - $3,280,000 Interest - $262,786 Maturity Date: October 1, 2024 Interest Rate: 2.62% Purpose: The $28,000,000 Utility System Revenue Refunding Note, Series 2015 dated July 7, 2015 was issued to refund the Utility System Revenue Refunding Bonds, Series 2005A. This transaction had an aggregate difference in debt service of $17,289,747 and a net present value savings to the County of $4,743,974. Pledge: The Series 2015 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 2015 Note is on parity with the Series 2011B and 2013 Bonds and Series 2012 Note. $21,690,000 SOLID WASTE SYSTEM REVENUE REFUNDING NOTE, SERIES 2015 Amount Outstanding: $5,830,000 FY2022 Debt Service: Principal - $2,880,000 Interest - $145,750 Maturity Date: October 1, 2023 Interest Rate: 2.50% 42 Consolidated Major Revenue & Debt Report 2021
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