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Comprehensive Plan Capital Improvements Element <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 /> Amount Average <br /> Initial Final <br /> Remaining Interest Bond Rating Security Pledge <br /> Amount (109/30/2017 Rate Maturity <br /> Water&Sewer Revenue Bonds: <br /> 2015 Series $7,171,000 $5,206,000 1.65% 2022 N/A Water&Sewer Revenues <br /> 2009 Series $26,370,000 $15,620,000 3.68% 2024 AA+/AA Water&Sewer Revenues <br /> Recreation Revenue Bonds <br /> 2001 Series Springo AAA/FGIC <br /> Training Facility $16,810,000 $16,215,000 4.87% 2031 (Insured) State Funds&Tourist Tax <br /> Voted G.O.Bonds <br /> Environmental <br /> Lands Acquisition $20,369,000 $19,706,000 1.66% 2021 N/A General Obligation <br /> 2015 Series <br /> Total Bonds $46,747,000 <br /> Outstanding <br /> Source: Indian River County Budget 2017/18. <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 /> Existing Level-of-Service Standards <br /> Level-of-service (LOS) standards are indicators of the extent or degree of service provided by, or <br /> proposed to be provided by, a facility based on and related to the operational characteristics of the <br /> facility. Level-of-service standards indicate the capacity per unit of demand of each public facility. <br /> Community Development Department Indian River County <br /> Adopted December 5,2017,Ordinance 2017-015 22 <br />