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District Sales Tax Revenue Bonds
These bonds are generally referred to as Sales Tax Revenue Bonds, Series 2013, Series 2016 and Series 2018, and are authorized by Chapter 212, 1001, and 1013, Florida Statutes. These bonds are secured by a pledge of the proceeds received by the District from the levy and collection of the 45 percent of the one-cent local infrastructure sales surtax pursuant to Section 212.055(6), Florida Statutes. Proceeds of the bonds were used to finance major remodeling and infrastructure upgrades including technology of elementary, middle, and high schools within the District. The District pledged a total of
$85,216,653 of the local infrastructure sales surtax revenues in connection with the Sales Tax Revenue Bond issues described above. For the 2020-2021 fiscal year, the District
recognized pledged revenue of $36,736,646 and paid $17,945,000 in principal and
$3,393,257 in interest for all Series.
Annual requirements to amortize all bonded debt outstanding as of June 30, 2021, are as follows:
Total | Principal | Interest | |||||||||
State School Bonds: 2022 | $ 922,520 | $ 723,000 | $ 199,520 | ||||||||
2023 | 940,870 | 774,000 | 166,870 | ||||||||
2024 | 766,030 | 632,000 | 134,030 | ||||||||
2025 | 643,430 | 541,000 | 102,430 | ||||||||
2026 | 552,360 | 475,000 | 77,360 | ||||||||
2027-2031 | 1,351,620 | 1,255,000 | 96,620 | ||||||||
Total State School Bonds | 5,176,830 | 4,400,000 | 776,830 | ||||||||
District Revenue Bonds: 2022 | 21,524,996 | 18,690,000 | 2,834,996 | ||||||||
2023 | 21,508,841 | 19,410,000 | 2,098,841 | ||||||||
2024 | 21,502,499 | 20,165,000 | 1,337,499 | ||||||||
2025 | 21,478,293 | 20,935,000 | 543,293 | ||||||||
2026 | 198,025 | 65,000 | 133,025 | ||||||||
2027-2031 | 995,625 | 385,000 | 610,625 | ||||||||
2032-2036 | 986,875 | 485,000 | 501,875 | ||||||||
2037-2041 | 988,050 | 605,000 | 383,050 | ||||||||
2042-2046 | 984,400 | 730,000 | 254,400 | ||||||||
2047-2051 | 987,500 | 895,000 | 92,500 | ||||||||
Total District Revenue Bonds | 91,155,105 | 82,365,000 | 8,790,105 | ||||||||
Subtotal | 96,331,935 | 86,765,000 | 9,566,935 | ||||||||
Unamortized Premium on Debt | 1,922,125 | 1,922,125 | - | ||||||||
Total | $ 98,254,060 | $ 88,687,125 | $ 9,566,935 | ||||||||