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Comprehensive Plan Capital Improvements Element <br />Training Facility Bonds to finance the acquisition and expansion of the Dodgertown spring training <br />facility (now known as Historic Dodgertown). <br />In 2004, Indian River County voters approved the issuance of up to an additional $50,000,000 in <br />Environmentally Sensitive Land Acquisition general obligation bonds. As a result, Indian River <br />County issued $48,600,000 in Environmentally Sensitive Land Acquisition general obligation bonds <br />in 2006. While the county refinanced its 1996 Series Water and Sewer Bonds in 2005 and the <br />majority of its 1993 Series A Water and Sewer Bonds in 2009, the County retained a portion of the <br />1993 Series A Water and Sewer Bonds with a maturity of 2011 because it was more cost efficient <br />than rolling the entire amount into the 2009 Water and Sewer Bonds. That portion of the water and <br />sewer bond has since been paid off. <br />More recently, in 2015 the 2005 Series Water and Sewer Revenue Bonds and the 2006 Series <br />Environmental Lands Acquisition Bonds were refinanced. Those bonds were refinanced to take <br />advantage of better interest rates. This has substantially decreased the County's total bond debt. <br />Table 6.6: Indian River County Existing Long Term Debt <br />Initial <br />Amount <br />Average <br />Final <br />Amount <br />Remaining <br />Interest <br />Maturity <br />Bond Rating <br />Security Pledge <br />(&,09/30/2016 <br />Rate <br />Water & Sewer Revenue Bonds: <br />2015 Series <br />$7,171,000 <br />$6,198,000 <br />1.65% <br />2022 <br />N/A <br />Water & Sewer Revenues <br />2009 Series <br />$26,370,000 <br />$17,620,000 <br />3.68% <br />2024 <br />AA+/AA <br />Water & Sewer Revenues <br />Recreation Revenue Bonds <br />2001 Series Spring <br />$16,810,000 <br />$6,735,000 <br />4.87% <br />2031 <br />AAA/FGIC <br />State Funds & Tourist Tax <br />Training Facility <br />(Insured) <br />Voted G.O. Bonds <br />Environmental <br />Lands Acquisition <br />$20,369,000 <br />$20,049,000 <br />1.66% <br />2021 <br />N/A <br />General Obligation <br />2015 Series <br />Total Bonds <br />$50,602,000 <br />Outstanding <br />Source: Indian River County Budget 2016/17. <br />Local Policies and Practices <br />As part of the capital improvements planning process, it is important to do an inventory of current <br />Indian River County policies and practices that guide the timing, location, expansion, or increase in <br />capacity of capital facilities. Those policies and practices relate to the county's existing level -of - <br />service standards, impact fee programs, comprehensive plan, and enterprise fund accounts. <br />Community Development Department Indian River County <br />Adopted , 2016, Ordinance 2016- 22 <br />