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INDIAN RIVER COUNTY, FLORIDA
<br />NOTES TO FINANCIAL STATEMENTS - CONTINUED
<br />Year Ended September 30, 1988
<br />6. Long -Term Debt - Continued:
<br />B. Enterprise Fund Bond Anticipation Notes - In December, 1987, the County issued
<br />6 3/8% Water and Sewer Revenue Bond, Series 1986, Anticipation Notes in the
<br />principal amount of $9,200,000. These notes were issued in anticipation of
<br />their receipt by the County of the proceeds from the sale of its $9,200,000
<br />Water and Sewer Revenue Bonds, Series 1986. The County currently expects the
<br />Series 1986 Bonds will be sold to the United States Department of Agriculture,
<br />Farmers Home Administration pursuant to the laws of the State of Florida and the
<br />Resolution No. 86-35 duly adopted by the County on June 18, 1986, as amended and
<br />supplemented, on or prior to December 1, 1990. From the proceeds of the Bond
<br />Anticipation Notes, the County deposited $1,759,500 into the Notes Payment
<br />Account within the sinking fund for interest payments to be made to maturity.
<br />At September 30, 1988, revenue bond anticipation notes consisted of the
<br />following:
<br />Rates Outstanding at
<br />and Original September 30,
<br />Dates Maturity Issue 1988
<br />Water and Sewer Revenue
<br />Bonds, Series 1986
<br />Anticipation Notes 6.375% 12/1/90 $9,200,000 $9,200,000
<br />C. Changes in General Long -Term Debt - A summary of changes in general long-term
<br />debt follows:
<br />Accrued Compensated
<br />Absences:
<br />Board
<br />Clerk of Court
<br />Sheriff
<br />Tax Collector
<br />Property Appraiser
<br />Capital Leases:
<br />Board
<br />Clerk of Court
<br />Sheriff
<br />Tax Collector
<br />Balance Balance
<br />October 1, September 30,
<br />1987 Additions Deletions 1988
<br />S 420,475 $ 84,489 S - $ 504,964
<br />31,165 7,214 6,615 31,764
<br />97,188 41,206 37,387 101,007
<br />23,429 2,944 - 26,373
<br />- 20,511 - 20,511
<br />572,257 156,364 44,002 684,619
<br />135,591 - 32,352 103,239
<br />228,282 - 81,675 146,607
<br />11,317 - 61900 4,417
<br />56,557 71,010 56,557 71,010
<br />431,747 71,010 177,484 325,273
<br />32.
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