$36,740,000 SUBORDINATE UTILITY SYSTEM REVENUE REFUNDING NOTE, SERIES 2021 Amount Outstanding: $25,000,000 FY2024 Debt Service: Principal – $5,010,000 Interest – $385,000 Maturity Date: October 1, 2036 Interest Rate: 1.54% Purpose: The $36,740,000 Subordinate Utility System Revenue Refunding Note, Series 2021 dated March 4, 2021 was issued to refinance the County’s outstanding loans from the State of Florida Department of Environmental Protection related to the County’s water and sewer Utility System and to refund the outstanding County’s Subordinate Utility System Revenue Refunding Note, Series 2012. Pledge: The Series 2021 Note is secured by a lien upon and pledge of net revenues derived by the operation of the Utility System and from lawfully available Impact Fees. $31,975,000 SOLID WASTE SYSTEM REVENUE NOTE, SERIES 2021 Amount Outstanding: $31,975,000 FY2024 Debt Service: Principal – $1,580,000 Interest – $687,462 Maturity Date: October 1, 2040 Interest Rate: 2.15% Purpose: The $31,975,000 Solid Waste System Revenue Note, Series 2021 dated July 16, 2021 was issued to finance the acquisition and construction of the County’s Central Solid Waste Phase III Landfill and other improvements to its Solid Waste System. Pledge: The Series 2021 Note is secured by a lien upon and pledge of net revenues derived from operation of the Solid Waste System. The Series 2021 Note is on parity with the Series 2015 Note. SarasotaClerk.com 43 2023 INDEBTEDNESS
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