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Indian River County, Florida <br />NOTES TO FINANCIAL STATEMENTS - Continued <br />Year Ended September 30, 1995 <br />NOTE 7 - INTERFUND ACCOUNTS - Continued <br />Capital Project Funds: <br />Optional Sales Tax <br />Gifford Road Construction <br />Enterprise Funds: <br />Solid Waste Disposal District <br />Water and Sewer System <br />Internal Service Funds: <br />Self Insurance <br />Agency Funds: <br />Clerk of the Circuit Court <br />Sheriff <br />Tax Collector <br />Totals <br />NOTE 8 - LONG-TERM DEBT <br />A. Primary Government <br />$2,000,000 $ <br />500,000 - <br />82,499 <br />1,872 3,500,000 <br />1,000,000 - <br />79,742 <br />35,082 <br />—134.1334 <br />54.0 S4.05�6.360� <br />The County has adopted resolutions for bonds payable that provide for various covenants. The <br />covenants are listed below for each bond payable. <br />Pledge of Revenue - The Series 1988 bonds are payable from and collateralized by a lien on net revenues <br />of the system, including the proceeds derived from the collection of disposal charges which are annual <br />assessment charges against assessable property for the disposal of solid waste. <br />Establishment of Various Accounts - Pursuant to certain covenants, the County has established and <br />maintains the following accounts: <br />(1) Operating account to pay all operating and maintenance costs of the system. <br />(2) Sinking Fund account to pay principal and interest payments coming due during the current fiscal <br />year. <br />(3) Reserve account to accumulate an amount equal to the maximum amount of principal and interest <br />coming due in any ensuing fiscal year. <br />35 <br />