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Comprehensive Plan Capital Improvements Element <br />Acquisition general obligation bonds originally approved by voters in 1992. Also in 2001, the <br />County issued $16,810,000 in Spring Training Facility Bonds to finance the acquisition and <br />expansion of the Dodgertown spring training facility (now known as the Vero Beach Sports <br />Complex). Two bonds were refinanced in 2003 to take advantage of lower interest rates: the 1993 <br />Series Refunded Recreational Revenue Bonds and the 1995 Series Environmental Lands Acquisition <br />Bonds. Those bonds have since been paid off. In 2004, Indian River County voters approved the <br />issuance of up to an additional $50,000,000 in Environmentally Sensitive Land Acquisition general <br />obligation bonds. As a result, Indian River County issued $48,600,000 in Environmentally Sensitive <br />Land Acquisition general obligation bonds in 2006. Finally, the county refinanced its 1996 Series <br />Water and Sewer Bonds in 2005 and the majority of its 1993 Series A Water and Sewer Bonds in <br />2009. The County kept a portion of the 1993 Series A Water and Sewer Bonds with a maturity of <br />2011 because it was more cost efficient than rolling the entire amount into the 2009 Water and Sewer <br />Bonds. <br />Table 6.6: Indian River County Existing Long Term Debt <br />Amount <br />Average <br />Initial <br />Remaining <br />Interest <br />Final <br />Bond Rating <br />Amount <br />(&09/30/2010 <br />Rate <br />Maturity <br />Security Pledge <br />Water & Sewer Revenue Bonds: <br />1993 A Series <br />$47,190,000 <br />5.76% <br />2011 <br />AAA/FGIC <br />Water & Sewer <br />$1,555,000 <br />(Insured) <br />Revenues <br />AAA/FGIC <br />Water & Sewer <br />2005 Series <br />$27,675,000 <br />$21,925,000 <br />o <br />3.94/0 <br />2022 <br />(insured) <br />Revenues <br />Water & Sewer <br />2009 Series <br />$26,370,000 <br />$26,370,000 <br />3.68% <br />2024 <br />AA /AA <br />Revenues <br />Recreation Revenue Bonds <br />2001 Series Spring <br />$16,810,000 <br />4.87% <br />2031 <br />AAA/FGIC <br />State Funds, 'h Cent <br />Training Facility <br />$12,310,000 <br />(Insured) <br />Sales Tax, Tourist Tax <br />Golf Course Net <br />2003 Series <br />Income, Fronton <br />Refunding <br />$6,455,000 <br />3.65% <br />2016 <br />AAA/AMAC <br />Revenue and <br />Recreational <br />$3,175,000 <br />(Insured) <br />Subordinate Lien on <br />Revenue <br />One Half Cent Sales <br />Tax <br />Voted G.O. Bonds <br />Environmental <br />Lands Acquisition <br />$11,000,000 <br />3.89% <br />2016 <br />General Obligation <br />2001 Series <br />$5,210,000 <br />IdA <br />(Insured) <br />Environmental <br />AAA/MBIA <br />Lands Acquisition <br />$48,600,000 <br />4.22"/o <br />2021 <br />(Insured) <br />General Obligation <br />2006 Series <br />$38,270,000 <br />Community Development Department Indian River County <br />Adopted November 2, 2010, Ordinance 2010-024 <br />23 <br />