|
�giVER
<br /> 201212013 Budget
<br /> Long Term Debt
<br /> Spring T aining Faci ity Revenue, Series 2001
<br /> Principal Requirements Total Average
<br /> Avera
<br /> e Interest RateFiscal Year Outstanding Principal Interest Payment
<br /> Ending
<br /> 1 16,810,000 Series 2001 -4.87% True Interest Cost
<br /> 9/30/02 16,450,000 360,000 521,818 881,818 Initial Principal Amount
<br /> 9/30/03 15,990,000 460,000 770,128 1,230,128
<br /> 9/30/04 15,515,000 475,000 754,028 1,229,028 Series 2001 - $16,810,000
<br /> 9/30/05 15,025,000 490,000 737,403 1,227,403 Term of Bonds
<br /> 9/30/06 14,520,000 505,000 721,233 1,226,233
<br /> 9/30/07 14,000,000 520,000 704,063 1,224,063 Series 2001 -30 Years
<br /> 9/30/08 13,455,000 545,000 685,343 1,230,343 First Call Date
<br /> 9/30/09 12,895,000 560,000 664,633 1,224,633
<br /> 9/30/10 12,310,000 585,000 642,233 1,227,233 April 1, 2011
<br /> 9/30/11 11,705,000 605,000 618,833 1,223,833 Pledged Revenue
<br /> 9/30/12 11,075,000 630,000 593,423 1,223,423
<br /> 9/30/13 10,420,000 655,000 566,333 1,221,333 The Series 2001 bonds are secured by a
<br /> 9/30/14 9,735,000 685,000 537,513 1,222,513 first lien upon and pledge of (i) State
<br /> 9/30/15 9,010,000 725,000 501,550 1,226,550 Payments awarded to the County for the
<br /> 9/30/16 8,250,000 760,000 463,488 1,223,488 purpose of paying for the acquisition,
<br /> construction, reconstruction, or
<br /> �,.. 9/30/17 7,455,000 795,000 423,588 1,218,588 renovation of a facility for a retained
<br /> 9/30/18 6,615,000 840,000 381,850 1,221,850 spring training franchise pursuant to
<br /> 9/30/19 5,725,000 890,000 337,750 1,227,750 Chapter 212.20, F.S., (ii) Fourth Cent
<br /> 9/30/20 4,795,000 930,000 291,025 1,221,025 Tourist Development Tax adopted in
<br /> 9/30/21 3,815,000 980,000 242,200 1,222,200 2000 for this purpose, and (iii) Eighty-six
<br /> 9/30/22 3,510,000 305,000 190,750 495,750 percent (86%) of the Local Government
<br /> Half-Cent Sales Tax distributed to the
<br /> 9/30/23 3,190,000 320,000 175,500 495,500 County pursuant to Chapter 218, Florida
<br /> 9/30/24 2,850,000 340,000 159,500 499,500 Statutes. The Fourth Cent Tourist
<br /> 9/30/25 2,495,000 355,000 142,500 497,500 Development Tax and the Half-Cent Sales
<br /> 9/30/26 2,120,000 375,000 124,750 499,750 Tax will automatically be released as
<br /> 9/30/27 1,730,000 390,000 1 106,000 496,000 pledged revenues immediately following
<br /> 9/30/28 1,320,000 410,000 86,500 496,500 the April 1, 2021 principal payment.
<br /> 9/30/29 890,000 430,000 66,000 496,000 From that point forward until final
<br /> 9/30/30 435,000 455,000 44,500 499,500 maturity, the bonds will be secured solely
<br /> by the State Payments.
<br /> 9/30/31 0 435,000 21,750 456,750
<br /> $16,810,000 1 $12,276,178 $29,086,178 Bond Insurer
<br /> Purpose Financial Guaranty Insurance Company
<br /> The Series 2001 Bonds were issued to provide funds to
<br /> finance a portion of the cost of acquisition and expansion of Bond Ratings(at time of issuance)
<br /> the Dodgertown spring training facility. Indian River County Standard & Poor's - "AAA" (insured),
<br /> entered into an agreement with the City of Vero Beach and "A"(underlying)
<br /> the Los Angeles Dodgers to acquire, renovate and expand this Fitch, Inc. - "AAA" (insured), "AA-"
<br /> ..., facility. In accordance with the agreement,the Dodgers will (underlying)
<br /> lease the facility for a period of not less than twenty (20)
<br /> years.
<br /> 337 213
<br />
|