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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2020 <br />NOTE 10 - LONG-TERM LIABILITIES - Continued <br />B. Primary Government <br />Governmental Activities <br />Annual Debt Service Payments - Governmental Activities <br />The annual debt service payments for bonds and notes from direct borrowings and direct <br />placements outstanding at September 30, 2020, are as follows: <br />Fiscal Year Spring Training Facility <br />Ending Revenue Bonds <br />September 30 Series 2001 <br />Principal Interest <br />2021 $ 305,000 $ 194,013 <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 3,865,000 $ 1,184,263 <br />Less: <br />Current portion 305,000 <br />Non-current $ 3,560,000 <br />Spring Training Facility Revenue Bonds <br />Purpose - On August 15, 2001, the County issued $16,810,000 of Spring Training Facility <br />Revenue Bonds, Series 2001. The Series 2001 bonds are being issued by the County to <br />provide funds, together with other available funds, to (1) finance a portion of the cost of <br />acquisition and expansion of a spring training facility currently known as the "Jackie <br />Robinson Training Complex"; (2) pay a premium for a municipal bond insurance policy and a <br />debt service reserve account surety bond, and (3) pay certain costs and expenses incurred <br />in connection with the issuance of the Series 2001 bonds. <br />77 <br />