$17,690,000 COMMUNICATIONS SERVICES TAX REVENUE REFUNDING NOTE, SERIES 2014 Amount Outstanding: $3,845,000 FY2024 Debt Service: Principal – $1,895,000 Interest – $104,584 Maturity Date: October 1, 2025 Interest Rate: 2.72% Purpose: The $17,690,000 Communications Services Tax Revenue Refunding Note, Series 2014 dated July 17, 2014 was issued to advance refund a portion of the County’s Communications Services Tax Revenue Bonds, Series 2005A and 2005B. Pledge: The Series 2014 Note is secured by a pledge of the revenues from the Communications Services Tax. $9,255,000 FIVE‑CENT LOCAL OPTION TAX REVENUE REFUNDING NOTE, SERIES 2014 Amount Outstanding: $2,000,000 FY2024 Debt Service: Principal – $990,000 Interest – $45,800 Maturity Date: October 1, 2025 Interest Rate: 2.29% Purpose: The $9,255,000 Five‑Cent Local Option Tax Revenue Refunding Note, Series 2014 dated July 17, 2014 was issued to advance refund a portion of the County’s Five‑Cent Local Option Fuel Tax Revenue Bonds, Series 2005. Pledge: The Series 2014 Note is secured by a pledge of the revenues from the Five‑Cent Local Option Fuel Tax pursuant to Section 336.025(1)(b), Florida Statutes. $17,955,000 BANK TERM REVENUE NOTE, SERIES 2014B Amount Outstanding: $1,995,000 FY2024 Debt Service: Principal – $1,995,000 Interest – $49,415 Maturity Date: October 1, 2024 Interest Rate: 2.48% Purpose: The $17,955,000 Bank Term Revenue Note, Series 2014B dated October 24, 2014 was issued to finance the cost of improvements to the Issuer’s 800MHz critical public safety communication system and acquisition of radios. Pledge: The Series 2014B Note is secured by a lien upon and a pledge of the Non‑Ad Valorem Revenues actually budgeted and appropriated, including income from investment of net revenues. $70,740,000 LIMITED AD VALOREM TAX REFUNDING BONDS (ENVIRONMENTALLY SENSITIVE LANDS AND PARKLAND PROGRAM), SERIES 2014 Amount Outstanding: $41,340,000 FY2024 Debt Service: Principal – $6,445,000 Interest – $1,116,180 Maturity Date: October 1, 2029 Interest Rate: 2.70% 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. SarasotaClerk.com 41 2023 INDEBTEDNESS
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