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Indian River County, Florida
<br />Board of County Commissioners
<br />Notes To Financial Statements
<br />Year Ended September 30, 2017
<br />NOTE 9 - LONG-TERM LIABILITIES — Continued
<br />A. Governmental Long -Term Debt - Continued
<br />Annual Debt Service Pam
<br />The annual debt service payments for bonds and notes outstanding at September 30, 2017, are as
<br />follows:
<br />Fiscal Year
<br />Spring Training Facility
<br />Limited General
<br />Ending
<br />Revenue Bonds
<br />Obligation Refunding Note
<br />September 30
<br />Series 2001
<br />Series 2015
<br />Principal
<br />Interest
<br />Principal
<br />Interest
<br />2018
<br />$ 550,000 $
<br />316,750
<br />$ 4,158,000 $
<br />259,840
<br />2019
<br />585,000
<br />287,875
<br />4,227,000
<br />190,817
<br />2020
<br />615,000
<br />257,163
<br />4,298,000
<br />120,649
<br />2021
<br />650,000
<br />224,875
<br />2,970,000
<br />49,302
<br />2022
<br />305,000
<br />190,750
<br />-
<br />-
<br />2023-2027
<br />1,780,000
<br />708,250
<br />-
<br />-
<br />2028-2031
<br />1,730,000
<br />218,750
<br />-
<br />-
<br />Total
<br />6,215,000
<br />2,204,413
<br />15,653,000
<br />620,608
<br />Less:
<br />Current portion
<br />550,000
<br />-
<br />4,158,000
<br />-
<br />Total
<br />$ 5,665,000 $
<br />2,204,413
<br />$ 11,495,000 $
<br />620,608
<br />Spring Training Facility Revenue Bonds
<br />Purpose - On August 15, 2001, the Board issued $16,810,000 of Spring Training Facility Revenue
<br />Bonds, Series 2001. The Series 2001 bonds are being issued by the Board to provide funds, together
<br />with other available funds, to (1) finance a portion of the cost of acquisition and expansion of a spring
<br />training facility currently known as "Historic Dodgertown' ; (2) pay a premium for a municipal bond
<br />insurance policy and a debt service reserve account surety bond, and (3) pay certain costs and expenses
<br />incurred in connection with the issuance of the Series 2001 bonds.
<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 Board 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,
<br />enacted pursuant to Section 125.0104(3)(1), Florida Statutes; and
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