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Indian River County, Florida
<br />n Notes To Financial Statements
<br />Year Ended September 30, 2006
<br />NOTE 12 - LONG-TERM LIABILITIES - Continued
<br />A. Primary Government - Continued
<br />Annual Debt Service Payments — Business -type Activities
<br />aThe annual debt service payments for bonds outstanding at September 30, 2006 are as follows:
<br />0
<br />FISCAL YEARS
<br />ENDING
<br />SEPTEMBER
<br />2007
<br />2008
<br />2009
<br />2010
<br />2011
<br />2012-2016
<br />2017-2021
<br />2022-2026
<br />Total
<br />Less:
<br />Current portion
<br />Unamortized
<br />bond discount
<br />Add:
<br />Unamortized
<br />bond premium
<br />Total
<br />RECREATIONAL
<br />REVENUE
<br />SERIES 2003
<br />Principal
<br />$ 475,000
<br />485,000
<br />490,000
<br />510,000
<br />520,000
<br />2,655,000
<br />5,135,000
<br />475,000
<br />45,901
<br />$ 4,614,099
<br />Interest
<br />$ 170,858
<br />160,764
<br />148,639
<br />135,164
<br />119,864
<br />304,251
<br />1,039,540
<br />$ 1,039,540
<br />WATER AND SEWER
<br />REFUNDING BONDS
<br />SERIES 1993
<br />Principal
<br />$ 1,230,000
<br />1,310,000
<br />1,395,000
<br />1,475,000
<br />1,555,000
<br />9,150,000
<br />11,870,000
<br />7,250,000
<br />35,235,000
<br />1,230,000
<br />1,053,624
<br />$ 32,951,376
<br />Interest
<br />$ 1,910,450
<br />1,830,500
<br />1,745,350
<br />1,668,625
<br />1,587,500
<br />6,557,000
<br />3,836,700
<br />699,563
<br />19,835,688
<br />WATER AND SEWER
<br />REFUNDING BONDS
<br />SERIES 2005
<br />Principal
<br />$ 1,275,000
<br />1,310,000
<br />1,350,000
<br />1,395,000
<br />1,435,000
<br />8,035,000
<br />10,145,000
<br />2,310,000
<br />27,255,000
<br />1,275,000
<br />Interest
<br />$ 1,130,700
<br />1,092,450
<br />1,053,150
<br />1,012,650
<br />970,800
<br />3,992,450
<br />1,878,300
<br />92,400
<br />11,222,900
<br />- 979,739 -
<br />$ 19,835,688 $ 26,959,739 $ 11,222,900
<br />Governmental Activities
<br />Limited General Obligation Bonds
<br />Purpose — On July 6, 2006, the Board issued $48,600,000 of Limited General Obligation Bonds Series
<br />2006. The issuance of the Series 2006 bonds was approved by a majority of votes cast in a bond
<br />referendum held on November 2, 2004, by the qualified electors of the County. The referendum
<br />authorized a total of $50,000,000 aggregate principal amount of limited general obligation bonds. The
<br />proceeds of this issue will provide funds to acquire by purchase, interest in lands to protect water
<br />resources and/or drinking water sources, environmentally sensitive lands, historic sites, and/or
<br />aagricultural lands together with the necessary restoration, remediation and reclamation activities to
<br />preserve and enhance such property and customary and necessary costs incurred in the acquisition.
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