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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. In addition, the debt issuance for the 2009 series Water and Sewer <br />Bonds were paid off and the Spring Training Facility bonds were partially paid off during fiscal year <br />2018/19. 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 />C&09/30/2018 <br />Rate <br />Water & Sewer Revenue Bonds: <br />2015 Series <br />$7,171,000 <br />40 9,088 <br />1•.65% <br />2 022 <br />N/A <br />Water & Sewer Revenues3,174,000 <br />' <br />7009 Serie <br />&26,,;70,,000 <br />4'4 -20 -,GN <br />3.68% <br />2-924 <br />Ak4AA <br />Water PSewer Revenue <br />Recreation Revenue Bonds <br />2001 Series Spring <br />$16,810,000 <br />365,000 <br />4.155,000 <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 />1 `�88 <br />Lands Acquisition <br />$20,369,000 <br />7,268,000 <br />1.66% <br />2021 <br />N/A <br />General Obligation <br />2015 Series <br />Total Bonds <br />$3900 <br />$14,597,000 <br />Outstanding <br />Source: Indian River County Budget 2444-92019/20. <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 December 9 2019, Ordinance 2019-_ 23 275 <br />