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ORDINANCE 2007-038 <br />Comprehensive Plan Capital Improvements Element <br />to finance the acquisition and expansion of the Dodgertown spring training facility. Avi Two <br />bonds were refinanced in 2003 to take advantage of lower interest rates: the 1993 Series Refunded <br />Recreational Revenue Bonds and the 1995 Series Environmental Lands Acqusition Bonds. Finally, in <br />2004, Indian. River County voters approved the issuance of up to an additional $50,000,000 in <br />Environmentally Sensitive Land Acquisition general obligation bonds As a result Indian River <br />Countv issued $48,600,000 in Environmentally Sensitive Land Acquisition general obligation bonds <br />in 2006. <br />Table 6.6: Indian River County Existing Long Term Debt <br />Amount Average <br />Initial Remaining Interest Final Bond Rating <br />9/3 <br />Amount 00/07 Rate Maturity Security Pledge <br />Water & Sewer Revenue Bonds: <br />1993 A Series $47,190,000 $34,005,000 5.76% 2024 AAA/FGIC Water & Sewer <br />(Insured) Revenues <br />1996 Series $27,675,000 $255980,000 3.94% 2022 AAA/FGIC Water & Sewer <br />(Insured) Revenues <br />Recreation Revenue Bonds <br />Golf Course Net <br />2003 Series Income, Fronton <br />Refunding $6,455,000 $4,660,000 3.65% 2016 AAA/AMAC Revenue and <br />Recreational (Insured) Subordinate Lien on <br />Revenue One Half Cent Sales <br />Tax <br />2001 Series State payments, <br />Spring Training $16,8102000 14,0003000 4.87% 2031 AAA/FGIC fourth cent tourist <br />Facility (Insured) development tax, and <br />half -cent sales tax <br />Voted G.O. Bonds <br />Environmental <br />Lands $7,800 000 $3,515 000 2.05% 2010 AAA/AMAC General Obli ation <br />Acquisition 2003 (Insured) B <br />Series <br />Environmental <br />Lands $11 000 000 $72365,000 3.89% 2016 AAA/FSA General Obli ation <br />Acquisition 2001(Insured) g <br />Series <br />Environmental <br />Lands $48,600,000 $46,280,000 4.22% 2021 AAA/MBIA General Obligation <br />Acquisition 2006 (Insured) <br />Series <br />Total Bonds <br />Outstanding $1351805,000 <br />Community Development Department Indian River County <br />23 <br />