Laserfiche WebLink
INDIAN RIVER COUNTY, FLORIDA <br />NOTES TO FINANCIAL STATEMENTS - CONTINUED <br />Year Ended September 30, 1992 <br />S. Lonq-Term Debt - Continued: <br />D. Summary of Defeased Debt Outstandinq <br />The following outstanding revenue bonds are legally defeased. Since <br />governmental obligations are held in escrow for the payment of principal and <br />interest, the bonds are not liabilities of the County. <br />Outstanding Retired Outstanding <br />at During at <br />September 30, Fiscal Year September 30, <br />1991 1992 1992 <br />Capital Improvement Revenue <br />Bonds: <br />Series 1980 S 3.830,000 S 75,000 3.755.000 <br />Series 1981 605.000 3n.000 575.000 <br />Solid Waste Disposal System <br />Revenue Bonds, Series 1977 500.000 S 160.000 9 340.000 <br />E. Capital Leases and Notes Pavable <br />(1) General Lonq-Term Debt Capital Leases - The County has entered into <br />several lease -purchase agreements to purchase various types of equipment <br />with lease terms varying from 24 to 60 months. <br />The following is a schedule of future minimum lease payments under capital <br />leases, together with the present value of the net minimum lease payments, <br />as of September 30, 1992: <br />Clerk <br />Board of of the <br />Year Ending County Circuit Property <br />September 30. Commissioners Court Sheriff Appraiser Total <br />1993 $ 59,873 S 4,608 $ 58,736 $124,730 $247,947 <br />1994 59,873 1,921 54,219 96,644 212,657 <br />1995 - - 32,743 57,325 90,068 <br />1996 - - 1,126 37,995 39,121 <br />1997 - - - - - <br />Total Minimum <br />Lease Payments 119,746 6,529 146,824 316,694 589,793 <br />Less: Amount <br />representing <br />interest 13,196 884 14,640 26,877 55,597 <br />Present Value of <br />Net Minimum Lease <br />Payments $106,550 S 5,645 $132.184 $299.817 S534.196 <br />B-45 <br />