Distrito Escolar del - Osceola County School District

Fiscal Year Ending June 30 Total Principal Interest
2013 17,262,588 7,460,000 9,802,588
2014 17,266,731 7,720,000 9,546,731
2015 17,267,575 8,045,000 9,222,575
2016 17,259,150 8,355,000 8,904,150
2017 17,265,325 8,740,000 8,525,325
2018-2022 86,302,705 49,715,000 36,587,705
2022-2027 124,622,888 100,185,000 24,437,888
2028 13,503,737 12,900,000 603,737
Total Minimum Lease Payments $ 310,750,699 203,120,000 $ 107,630,699
Plus: Unamortized Premium 1,326,154
Less: Deferred Amount on Refunding Debt (5,070,517)
Total Certificates of Participation $ 199,375,637
QUALIFIED SCHOOL CONSTRUCTION BONDS
The District issued Certificates of Participation (COPs) dated April 29, 2010, under the Qualified School
Construction Bond (QSCB) Program pursuant to Section 54F of the United States Internal Revenue Code
of 1986 as amended (the Code). The QSCB Program provides for an issuer interest rate subsidy on certain
bonds or COPs. The School District of Osceola County received an approved allocation of funds from the
Florida Department of Education sufficient for the designation of the Series 2010A COP as a QSCB under
the Code. Pursuant to Section 6431 of the Code, the District has elected to receive Federal subsidy
payments (the Issuer Subsidy) from the United States Treasury on each interest payment date for the 2010A
Certificates in an amount equal to the lesser of the amount of interest payable with respect to the Series
2010A Certificates if the interest were determined at the applicable tax credit rate pursuant to Section
54A(b)(3) of the Code. The tax credit rate which would have been applicable to the Series 2010A
Certificates is 5.80 percent.
The Series 2010A Certificates were issued in the amount of $40,500,000. Interest payments are to be made
to the holders of the Certificates on April 1 st and October 1 st of each year at the stated coupon rate of 6.658
percent with the Issuer Subsidy received by the District on the same date. The principal amount of the
Certificates is to be repaid in one lump sum on April 1, 2027. Beginning in 2013, the District is to deposit
$2,173,958 into a Sinking Fund annually on April 1 st . The accumulated amount in this fund plus interest at a
projected 3 percent is to be used to repay the principal amount of these certificates upon maturity.
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