Distrito Escolar del - Osceola County School District

The School Board issued Sales Tax Revenue Bonds, Series 2007A and 2007B on April 12, 2007,
totaling $47,580,000 and $32,255,000, respectively. These bonds are authorized by Chapter 1001,
Florida Statutes and Chapter 212, Part I, Florida Statutes. A resolution providing for the issuance of
the bonds was adopted by the Board on March 20, 2007. Proceeds of the discretionary local
government infrastructure sales tax surtax received by the District pursuant to an interlocal
agreement between Osceola County, the cities of Kissimmee and St. Cloud, and the District are
pledged for the payment of bonds. Proceeds of the 2007A bonds were used to finance the
acquisition, construction, reconstruction, renovation, and equipping of certain capital improvements
and educational facilities within the District. Proceeds of the 2007B bonds were used to advancerefund
a portion of the District’s outstanding Sales Tax Revenue Bonds, Series 2001.
The District has pledged a combined total of $108,481,063 of discretionary surtax sales revenues
(sales tax revenues) in connection with the Series 2001, 2007A and 2007B Sales Tax Revenue Bond
issues described above. During the 2011-12 fiscal year, the District recognized sales tax revenues
totaling $9,925,207 and expended $7,231,103 (73 percent) of these revenues for debt service directly
collateralized by these revenues. The pledged sales tax revenues are committed until final maturity of
the debt, or June 1, 2025. Assuming a nominal growth rate in the collection of sales tax revenues,
which are levied through June 30, 2025, approximately 51 percent of this revenue stream has been
pledged in connection with debt service on the revenue bonds.
Annual requirements to amortize all bonded debt outstanding as of June 30, 2012, are as follows:
Fiscal Year Ending June 30 Total Principal Interest
State School Bonds:
2013 1,674,984 1,165,000 509,984
2014 1,753,895 1,295,000 458,895
2015 1,770,245 1,370,000 400,245
2016 1,768,075 1,430,000 338,075
2017 1,732,981 1,460,000 272,981
2018-2022 4,649,890 3,940,000 709,890
2023-2026 1,691,088 1,565,000 126,088
Total State School Bonds 15,041,158 12,225,000 2,816,158
District Revenue Bonds:
2013 7,229,877 3,950,000 3,279,877
2014 7,234,678 4,125,000 3,109,678
2015 7,229,687 4,300,000 2,929,687
2016 7,234,687 4,520,000 2,714,687
2017 7,233,688 4,745,000 2,488,688
2018-2022 36,158,150 27,260,000 8,898,150
2023-2025 21,696,750 19,695,000 2,001,750
Total District Revenue Bonds 94,017,517 68,595,000 25,422,517
Total $ 109,058,675 $ 80,820,000 $ 28,238,675
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