Florida College System/Community College

Agency:  Participating State Colleges and community colleges: coordinated by the Division of Florida Colleges of the Department of Education
Purpose:  The bonds are issued to finance construction, equipment, renovation or remodeling of educational facilities at participating community colleges.
  • Pledged Revenues: The bonds are payable from certain capital improvement fees collected by all community colleges participating in the program, on a crosscollateralized basis.
  • Lien Status: The bonds have a first lien on the pledged capital improvement fees of all participating State Colleges and community colleges.
  • Additional Bonds Test: Additional parity bonds may be issued if the average pledged revenues for the two preceding fiscal years are equal to or greater than 130% of maximum annual debt service on all bonds outstanding under the program and the proposed additional parity bonds.
Frequency:  As the need for projects dictates.
Florida Division of Bond Finance | 1801 Hermitage Centre, Suite 200 | Tallahassee, Florida 32308
Telephone: (850) 488-4782 | E-mail: bond@sbafla.com