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Indian River County, Florida
<br />Board of County Commissioners
<br />Notes To Financial Statements
<br />Year Ended September 30, 2014
<br />NOTE 11 - LONG-TERM LIABILITIES - Continued
<br />B.
<br />Proprietary Funds Long -Term Debt
<br />Changes in Long -Term Liabilities
<br />Accrued Compensated Absences
<br />Bonds Payable:
<br />Water & Sewer Revenue
<br />Refunding Series 2005
<br />Water & Sewer Revenue
<br />Refunding Series 2009
<br />Total Bonds Payable
<br />Grand Total
<br />Annual Debt Service Payments
<br />Balance
<br />October 1,
<br />2013 Additions
<br />Deletions
<br />$ 868,692 $ 730,268 $ 640,150 $
<br />17,480,000
<br />23,085,000
<br />40,565,000
<br />$ 41,433,692 $ 730,268
<br />Balance
<br />September 30,
<br />2014
<br />958,810
<br />1,605,000 15,875,000
<br />1,745,000 21,340,000
<br />3,350,000 37,215,000
<br />$ 3,990,150 $ 38,173,810
<br />The annual debt service payments for bonds outstanding at September 30, 2014 are as follows:
<br />Fiscal Year
<br />Ending
<br />September 30
<br />2015
<br />2016
<br />2017
<br />2018
<br />2019
<br />2020-2024
<br />Total
<br />Less:
<br />Current portion
<br />Add:
<br />Unamortized
<br />bond premium
<br />Total
<br />Water and Sewer
<br />Revenue Refunding
<br />Bonds Series 2005
<br />Principal Interest
<br />$ 1,670,000
<br />1,750,000
<br />1,840,000
<br />1,930,000
<br />2,025,000
<br />6,660,000
<br />$ 736,450
<br />652,950
<br />565,450
<br />473,450
<br />376,950
<br />554,850
<br />15,875,000 3,360,100
<br />1,670,000
<br />Water and Sewer
<br />Revenue Refunding
<br />Bonds Series 2009
<br />Principal Interest
<br />$ 1,815,000
<br />1,905,000
<br />2,000,000
<br />2,100,000
<br />2,205,000
<br />11,315,000
<br />$ 1,067,000
<br />976,250
<br />881,000
<br />781,000
<br />676,000
<br />1,612,250
<br />21,340,000 5,993,500
<br />1,815,000
<br />487,304 1,731,585
<br />$ 14,692,304 $ 3,360,100 $ 21,256,585 $ 5,993,500
<br />272
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