Laserfiche WebLink
Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2006 <br />NOTE 12 - LONG-TERM LIABILITIES - Continued <br />A. Primary Government - Continued <br />The Fourth Cent Tourist Development Tax and the Local Government Half -Cent Sales Tax pledged to <br />the payment of debt service on the Series 2001 Bonds are automatically released as a pledged revenue <br />for the Series 2001 Bonds immediately following the April 1, 2021 principal payment on the Series <br />2001 Bonds. <br />Bonds Issued - At September 30, 2006, Spring Training Facility Revenue Bonds consisted of the <br />following: <br />Interest <br />Rates and <br />Description Date Maturity <br />Outstanding at <br />September 30, <br />Issue 2006 <br />Spring Training 3.30%-5.25% <br />Facility 4/1 and 10/1 2031 $ 16.810,000 $ 14,520,000 <br />Optional Redemption - The Series 2001 Bonds maturing on or after April 1, 2012, are subject to Li <br />redemption at the option of the County in whole or in part, on April 1, 2011, or on any date thereafter at <br />par plus accrued interest and plus a premium ranging between 0% to 1% depending on the year of the <br />redemption. <br />Mandatory Redemption - The Series 2001 Term Bonds are subject to mandatory redemption prior to <br />maturity, by lot, at par plus accrued interest, according to the following schedule: <br />Term Bonds due April 1; 2015 <br />Date Principal Amount <br />April 1, 2014 $ 685,000 <br />April 1, 2015 725,000 <br />Term Bonds due April 1, 2017 <br />Date Principal Amount <br />April 1, 2016 $ 760,000 <br />April 1, 2017 795,000 <br />Term Bonds due April 1, 2021 <br />Date Principal Amount <br />April 1, 2018 $ 840,000 <br />April 1, 2019 890,000 <br />April 1, 2020 930,000 <br />April 1, 2021 980,000 <br />80 <br />a <br />