|
Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2019
<br />75
<br />
<br />
<br />NOTE 10 - LONG-TERM LIABILITIES - Continued
<br />
<br />B. Primary Government
<br />
<br />Governmental Activities
<br />
<br />Annual Debt Service Payments - Governmental Activities
<br />
<br />The annual debt service payments for bonds and notes from direct borrowings and direct placements
<br />outstanding at September 30, 2019, are as follows:
<br />
<br />Fiscal Year Spring Training Facility Limited General
<br />Ending Revenue Bonds Obligation Refunding Note
<br />September 30 Series 2001 Series 2015
<br /> Principal Interest Principal Interest
<br /> 2020 $ 290,000 $ 209,237 $ 4,298,000 $ 120,649
<br /> 2021 305,000 194,013 2,970,000 49,302
<br /> 2022 305,000 178,000 - -
<br /> 2023 320,000 162,750 - -
<br /> 2024 340,000 146,750 - -
<br />2025-2029 1,960,000 462,000 - -
<br />2030-2031 635,000 40,750 - -
<br />Total 4,155,000 1,393,500 7,268,000 169,951
<br />Less:
<br />Current portion 290,000 4,298,000
<br />Total - long-term $ 3,865,000 $ 2,970,000
<br />
<br />
<br />
<br />
<br />
<br />Spring Training Facility Revenue Bonds
<br />
<br />Purpose - On August 15, 2001, the County issued $16,810,000 of Spring Training Facility Revenue
<br />Bonds, Series 2001. The Series 2001 bonds are being issued by the County 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 the “Jackie Robinson Training Complex”; (2) pay a premium for a
<br />municipal bond insurance policy and a debt service reserve account surety bond, and (3) pay certain costs
<br />and expenses incurred in connection with the issuance of the Series 2001 bonds.
<br />
<br />
<br />
|