My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2017-047
CBCC
>
Official Documents
>
2010's
>
2017
>
2017-047
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/12/2017 1:45:26 PM
Creation date
4/12/2017 1:27:56 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Report
Approved Date
04/11/2017
Control Number
2017-047
Agenda Item Number
8.B.
Entity Name
Indian River County
Subject
Comprehensive Annual Financial Report
Fiscal Year 2015-2016
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
426
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2016 <br />NOTE 10 - LONG-TERM LIABILITIES - Continued <br />B. Primary Government - Continued <br />Spring Training Facility Revenue Bonds - Continued <br />Pledge of Revenues - The principal and interest on the Series 2001 bonds will be payable from and <br />secured by a first lien upon and pledge of the following, together with any investment income realized <br />on any funds held under the Resolution, except the Cost of Issuance Account and the Rebate Fund: <br />1. Payments received by the County from the State of Florida pursuant to Section 212.20, Florida <br />Statutes; and <br />2. The Fourth Cent Tourist Development Tax levied by the County in Ordinance No. 2000-029, enacted <br />pursuant to Section 125.0104(3)(1), Florida Statutes; and <br />3. Eighty-six percent (86%) of the Local Government Half -Cent Sales Tax distributed to the County, <br />pursuant to Chapter 218, Part VI, Florida Statutes. <br />The foregoing are collectively referred to herein as the "pledged revenues". These revenue streams are <br />pledged for the remaining term of the bonds and are listed on Schedule 25 in the statistical section. <br />The Fourth Cent Tourist Development Tax and the Local Government Half -Cent Sales Tax pledged to <br />the payment of debt service on the Series 2001 bonds are automatically released as a pledged revenue <br />for the Series 2001 bonds immediately following the April 1, 2021 principal payment on the Series <br />2001 bonds. <br />The current principal and interest payments of $852,044 represent 9.59 percent of total pledged <br />revenues. All three revenue sources totaled $8,886,139 for the current fiscal year. The County applied <br />100% of the state subsidy, 68% of the Fourth -Cent Tourist Tax, and none of the Half -Cent Sales Tax to <br />the debt service payments. The total principal and interest remaining to be paid on the bonds is <br />$9,283,463. <br />Bonds Issued - At September 30, 2016, Spring Training Facility Revenue Bonds consisted of the <br />following: <br />Description <br />Interest Outstanding at <br />Rates and September 30, <br />Date Maturity Issue 2016 <br />Spring Training Facility Revenue <br />Bonds, Series 2001 <br />3.30%-5.25% <br />4/1 and 10/1 2031 $ 16,810,000 $ 6,735,000 <br />76 <br />
The URL can be used to link to this page
Your browser does not support the video tag.