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Indian River County, Florida
<br />Board of County Commissioners
<br />Notes To Financial Statements
<br />Year Ended September 30, 2011
<br />NOTE 11 - LONG-TERM LIABILITIES — Continued
<br />A. Governmental Long -Term Debt - Continued
<br />Annual Debt Service Pam
<br />The annual debt service payments for bonds outstanding at September 30, 2011, are as follows:
<br />Fiscal Year
<br />Ending
<br />September 30
<br />2012
<br />2013
<br />2014
<br />2015
<br />2016
<br />2017-2021
<br />2022-2026
<br />2027-2031
<br />Total
<br />Limited General
<br />Obligation Bonds
<br />Series 2006
<br />Principal
<br />Interest
<br />$ 3,000,000
<br />$1,612,263
<br />3,120,000
<br />1,492,263
<br />3,255,000
<br />1,367,463
<br />3,390,000
<br />1,204,712
<br />3,545,000
<br />1,035,212
<br />19,075,000
<br />2,667,762
<br />General Obligation
<br />Bonds
<br />Series 2001
<br />Principal Interest
<br />$ 810,000 $ 183,368
<br />845,000 151,778
<br />885,000 117,977
<br />925,000 80,807
<br />965,000 41,495
<br />35,385,000 9,379,675 4,430,000 575,425
<br />Spring Training Facility
<br />Revenue
<br />Bonds
<br />Series 2001
<br />Principal
<br />Interest
<br />$ 630,000
<br />$ 593,423
<br />655,000
<br />566,333
<br />685,000
<br />537,513
<br />725,000
<br />501,550
<br />760,000
<br />463,487
<br />4,435,000
<br />1,676,412
<br />1,695,000
<br />793,000
<br />2,120,000
<br />324,750
<br />11,705,000
<br />5,456,468
<br />Less:
<br />Current portion 3,000,000 - 810,000 - 630,000 -
<br />Add:
<br />Unamortized
<br />bond premium 908,939 - - - - -
<br />Total $ 33,293,939 $ 9,379,675 $ 3,620,000 $ 575,425 $ 11,075,000 $ 5,456,468
<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 interest in lands to protect water resources and/or
<br />drinking water sources, environmentally sensitive lands, historic sites, and/or agricultural lands together
<br />with the necessary preservation, restoration, remediation and reclamation activities to preserve and
<br />enhance such property.
<br />Pledge of revenues - The principal and interest on the bonds are payable from ad valorem taxes not
<br />exceeding '/z mil and having a maturity not exceeding fifteen years, which are levied by the Board upon
<br />the taxable real and personal property of the Board.
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