District School Board - Seminole County Schools

Long-Term Debt. At the end of the current fiscal year, the District had total bondeddebt outstanding of $256,745,000. Outstanding at the end of the fiscal year was$19,275,000 of bonds issued on behalf of the District by the State Board of Education(SBE) and backed by the full faith and credit of the State of Florida. The remainder ofthis debt represents $237,470,000 in certificates of participation.The following is a summary of the District’s long-term bonded debt as of June 30, 2008,and June 30, 2009:District School Board of Seminole County, FloridaSchedule of Outstanding Long-Term Bonded DebtGovernmental ActivitiesJune 30, 2008 June 30, 2009State School (SBE) Bonds $ 20,535,000 $ 19,275,000Certificates of Participation 230,330,000 237,470,000Total Outstanding Long-Term Bonded Debt $ 250,865,000 $ 256,745,000During the current fiscal year, the District participated in the issuance of $20,675,000 inCertificates of Participation 2009A. The District’s ratings on its certificates ofparticipation continued to be A1 from Moody’s, A+ from Fitch, and AA- from Standardand Poor’s. Although the District did not have any outstanding general obligation bonds,the District general obligation underlining ratings continued to be Aa-3 from Moody’s.Additional information on the District’s long-term debt can be found in notes 7 – 10 onpages 68 - 72 of this report.Page 31