SARASOTA COUNTY – The Sarasota County Office of Financial Management successfully priced a refunding of outstanding utility bonds to take advantage of favorable market conditions and lower interest rates. The transaction will result in approximately $3.5 million in savings over the life of the bonds for utility ratepayers, helping the utility manage costs and keep rates more stable for customers.

The refunding of the outstanding Utility System Revenue Refunding Bonds, Series 2016B, was priced on Dec. 8, 2025, and is expected to close in early January 2026.

The proceeds from the refunding will be used exclusively to refinance existing debt. No new debt is being issued, and no tax increase is associated with the transaction.

“We are pleased to lock in long-term savings while maintaining our high credit ratings,” said Steve Botelho, Deputy County Administrator and Chief Financial Management Officer. “This refunding supports our commitment to fiscal responsibility and good stewardship of public resources.”

The debt carries strong credit ratings of AA+ from S&P Global Ratings and AA+ from Fitch Ratings. These high ratings reflect the county’s conservative financial management practices and stable debt service coverage levels.

For complete analysis of the county’s utility system revenue bond ratings, visit the official rating disclosures from Fitch, S&P Global or Moody’s.

For more information, call the Sarasota County Contact Center at 311 or 941-861-5000 or visit scgov.net.