FY 2010-11 Adopted Budget - Volusia County Government

Debt Service SummaryFiscal Year 2010-11 Debt Service SummaryDebt Service SummaryOriginalBond IssueAmount Final Maturity Pledged Source PurposeAirport System Refunding Revenue Bonds, $11,110,000 October 1, 2021 Net revenues derived from To advance refund a portion of County'sSummary: Series 2003 The Subordinate Lien Sales Tax Revenue Debt Service Fund operation provides of Airport funding Systemfor two outstanding Sales Tax Airport Refunding System RefundingRevenue Bonds issues, Series 2003 and 2008. Series 2003 bonds were issued to advance Revenue refund Bonds, a Series portion 1993, which refundedof the Sales Tax Improvement Refunding Revenue Bonds, Series 1993 which refunded a 1991 portion bonds of 1991 bonds, used originally to used tofinance construction of new airport terminalfinance the Justice Center, acquire 250 N. Beach Street, and other projects. Series 2008 bonds were issuedand related improvements at Daytona Beachto advance refund a portion of the Sales Tax Improvement Refunding Revenue Bonds,InternationalSeriesAirport.1996 and1998, issued for court improvements. Revenue for debt service is transferred from the Sales Tax Fund(108).Airport System Refunding Revenue Bonds, $30,795,000 October 1, 2021 Net revenues derived from To advance refund a portion of County'sSeries 2000Adopted operation of Airport System outstanding Airport Budget System RefundingFY2009-10Revenue Bonds, FY2010-11 Series 1991, originally usedto finance acquisition, expansion andRevenuesinstallation of new terminals at DaytonaCurrent RevenuesBeach International Airport.Subtotal Current Revenues $ 0 $ 0Non-Current Capital Improvement RevenuesRevenue Bond, SeriesTransfers 2009A from Other Funds$3,718,000 October 1, 2014$Subordinate lien on the LocalGovernment 8,528,869 Half Cent Sales TaxTo finance capital expenditures including the$ purchase of Sheriff's vehicles 6,088,942 and aAppropriated Fund Balance 2,496,487helicopter.1,027,624Subtotal Capital Non-current Improvement Revenues Bond, Series $5,812,000 October $ 1, 2016 Subordinate 11,025,356 lien on the Local $ To refinance all of the County's 7,116,566 outstanding2009BGovernment Half Cent Sales Tax Subordinate Lien Sales Tax Revenue Bonds,Total Revenues $ 11,025,356 $ Series 1998. 7,116,566Total Operating Revenues $ 11,025,356 $ 7,116,566Gas Tax Revenue Bonds, Series 2004 $64,215,000 October 1, 2024 Six Cents Local Option Gas Tax To finance costs of transportationimprovements within the County.ExpendituresDebt Limited Service Tax General Obligation Bonds,$39,875,000 October $ 1, 2021 Volusia Forever 8,528,856 Ad Valorem $ To finance cost of acquisition 6,332,477 andReserves Series 2005Millage 2,496,500 improvement of environmentally 784,089 sensitive,water resource protection and outdoorTotal Expenditures $ 11,025,356 $recreation lands.7,116,566Parking Facility Revenue Bonds, Series 2007 $10,815,000 April 1, 2024 Net revenues of the parking To finance acquisition of Ocean CenterTotal Operating Expenditures $ garage, 11,025,356 and a subordinate lien $ Parking Garage from the 7,116,566 Volusiaon Tourist Development Tax Redevelopment Parking Corporation.Net Revenues Less Expenditures $ Revenues 0 $ 0Subordinate Lien Sales Tax Refunding$42,605,000 October 1, 2018 Local Government Half-Cent To advance refund a portion of the Sales TaxRevenue Bonds, Series 2008Sales TaxImprovement Refunding Revenue Bonds,Series 1996 and 1998, issued for courtimprovements.Subordinate Lien Sales Tax RefundingRevenue Bonds, Series 2003$8,255,000 October 1, 2021 Local Government Half-CentSales TaxTo advance refund a portion of the Sales TaxImprovement Refunding Revenue Bonds,Series 1993, which refunded Series 1991bonds, originally issued to finance the JusticeCenter, acquire 250 N. Beach Street, andother projects.Tourist Development Tax Revenue Bond,Series 2004Tourist Development Tax Revenue Bond,Series 2002$55,451,336 December 1, 2034 Tourist Development Tax To fund renovation and expansion of OceanCenter.$22,565,000 December 1, 2013 Tourist Development Tax To advance refund portion of TouristDevelopment Tax Refunding Revenue Bonds,Series 1993, which refunded the 1986 issue,to construct the Ocean Center.Water and Sewer Refunding RevenueBonds, Series 2003Water and Sewer Refunding RevenueBonds, Series 1998$6,975,000 October 1, 2019 Net Revenues from operation ofCounty's Water and SewerSystem connection fees andinvestment earnings.$5,085,000 October 1, 2016 Net Revenues from operation ofCounty's Water and SewerSystem connection fees andinvestment earnings.To advance refund portion of Water andSewer Revenue Refunding and ImprovementBonds, Series 1993, to finance the cost ofimprovements.To advance refund portion of Water andSewer Revenue Refunding and ImprovementBonds, Series 1989, to finance the cost ofimprovements.VolusiaVolusiaCountyCountySectionSection G--44