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INDIAN RIVER COUNTY, FLORIDA
<br />NOTES TO FINANCIAL STATEMENTS - CONTINUED
<br />Year Ended September 30, 1988
<br />6. Lona -Tars Debt - Continued:
<br />Annual Debt Service Payments - Enterprise Fund Bonds Payable - The annual debt
<br />service payments to amortize the bonds payable outstanding at September 30, 1988
<br />are as follows:
<br />Water and Golf Course
<br />Fiscal Year Sewer Landfill Recreational
<br />Ending Revenue Revenue Revenue Housing
<br />September 30, Bonds Bonds Bonds Authority Total
<br />1989
<br />$ 546,910
<br />$ 938,430
<br />$ 201,360
<br />1990
<br />546,760
<br />937,955
<br />201,360
<br />1991
<br />545,360
<br />935,405
<br />241,360
<br />1992
<br />545,260
<br />935,895
<br />243,800
<br />1993
<br />547,885
<br />934,050
<br />245,830
<br />1994-1998
<br />2,731,375
<br />4,683,555
<br />1,213,960
<br />1999-2003
<br />2,729,875
<br />3,757,335
<br />1,217,415
<br />2004-2008
<br />2,731,475
<br />-
<br />1,216,375
<br />2009-2013
<br />2,730,775
<br />-
<br />1,213,375
<br />2014-2018
<br />2,731,275
<br />-
<br />484,500
<br />2019-2023
<br />2,224,825
<br />-
<br />-
<br />2024-2025
<br />163,485
<br />Totals
<br />18,775,260
<br />13,122525
<br />6,479,335
<br />Less: Amounts
<br />representing
<br />interest 9,897,060
<br />Total Bonds
<br />Payable 8,878,200
<br />Less: Current
<br />portion 103,000
<br />Unamor-
<br />tized
<br />bond
<br />discount
<br />S 72,080 $ 1,758,780
<br />71,550 1,757,625
<br />72,020 1,794,145
<br />71,480 1,796,435
<br />71,940 1,799,705
<br />360,320 8,989,210
<br />359,860 8,064,485
<br />359,660 4,307,510
<br />358,710 4,302,860
<br />358,960 3,574,735
<br />71,710 2,296,535
<br />- 163,485
<br />2,228,290 40,605,510
<br />4,892,625 3,759,335 320,290 18,859,310
<br />8,240,000 2,720,000 11908,000 21,746,200
<br />390,000 - 53,000 546,000
<br />66,373 - 66,373
<br />S 8.77S.200 S 7,800 S2,653,627 $1,855,000 S21,1133,8277
<br />Advance Refunding of Enterprise Fund Debt - In June, 1988, the County defeased
<br />$1,050,000 Solid Waste Disposal System Revenue Bonds, Series 1977 by depositing
<br />$971,991 from excess funds of the Solid WAste Disposal System with an escrowed
<br />trustee. This was the result of restructuring the Solid Waste Disposal System
<br />into the Solid Waste Disposal District. The defeasance resulted in the recog-
<br />nition of an accounting gain of $77,069. However, the aggregate debt service
<br />payments for the next 6 years increased by $17,885 which resulted in an economic
<br />loss (difference between the present values of the debt service payments on the
<br />old and new debt) of $13,130.
<br />31.
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