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<br /> �CORI 2012/2013 Budget
<br /> Long Term Debt
<br /> Environmentally Sensitive Land Acquisition Bonds, Series 2006
<br /> Fiscal Year Principal Re uirements Total Term of Bonds
<br /> Ending Outstanding Principal Interest Payment
<br /> 9/30/06 48,600,000 Series 2006— 15 Years
<br /> 9/30/07 46,280,000 2,320,000 2,140,863 4,460,863
<br /> 9/30/08 43,715,000 2,565,000 2,048,062 4,613,062 First Call Date
<br /> 9/30/09 41,045,000 2,670,000 1,945,463 4,615,463 July 1, 2016
<br /> 9/30/10 38,270,000 2,775,000 1,838,662 4,613,662
<br /> 9/30/11 35,385,000 2,885,000 1,727,663 4,612,663 Pledged Revenue
<br /> 9/30/12 32,385,000 3,000,000 1,612,262 4,612,262
<br /> 9/30/13 29,265,000 3,120,000 1,492,263 4,612,263 These bonds constitute general
<br /> obligations of Indian River County. The
<br /> 9/30/14 26,010,000 3,255,000 1,367,462 4,622,462 full faith, credit, and taxing power of the
<br /> 9/30/15 22,620,000 3,390,000 1,204,713 4,594,713 County are pledged for the prompt
<br /> 9/30/16 19,075,000 3,545,000 1,035,212 4,580,212 payment when due of principal and
<br /> 9/30/17 15,370,000 3,705,000 893,413 4,598,413 interest on the bonds. Debt service
<br /> 9/30/18 11,480,000 3,890,000 745,212 4,635,212 payments and other costs are supported by
<br /> ad valorem taxes levied on all real
<br /> 9/30/19 7,395,000 4,085,000 550,713 4,635,713 property in the County. The voter
<br /> 9/30/20 3,105,000 1 4,290,000 346,462 4,636,462 referendum adopted in 2004 provides for
<br /> 9/30/21 0 3,105,000 131,963 3,236,963 a levy of up to I/2 mill for debt service of
<br /> $48,600,000 $19,080,388 $67,680,388 Land Acquisition Bonds. For a detail of
<br /> this budget, please see Land Acquisition
<br /> Bond Fund 245 under the 2004 LAND
<br /> Purpose ACQUISITION BOND section.
<br /> In November 2004, Indian River County voters passed a Bond Insurer
<br /> referendum authorizing the issuance of$50 million in general
<br /> obligation bonds for the purpose of acquiring MBIA Insurance Corporation
<br /> environmentally sensitive lands. The bonds were sold on
<br /> June 13, 2006 with an aggregate principal amount of Bond Ratings(at time of issuance)
<br /> $48,600,000. The bonds provide funding to acquire
<br /> ownership and other interests (e.g. conservation easements Standard & Poor's — "AAA" (insured),
<br /> and development rights) in environmentally significant lands "AA_" (underlying)
<br /> as well as the restoration, remediation and reclamation Fitch — "AAA" (insured), "AA"
<br /> activities to preserve and enhance such property. (underlying)
<br /> Average Interest Rate
<br /> Series 2006—4.22%(True Interest Cost)
<br /> Initial Principal Amount
<br /> Series 2006—$48,600,000
<br /> 340
<br /> 216
<br />
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