Right of Way Acquisition and Bridge Construction

Agency:  Department of Transportation
Purpose:  The bonds are issued to finance the acquisition of right-of-way for state roads and to finance state bridge construction.
Security:
  • Pledged Revenues: The bonds are payable primarily from certain motor fuel and diesel fuel taxes transferred to the State Transportation Trust Fund subject to the deduction of certain legislatively imposed fees and charges. The bonds are additionally secured by the full faith and credit of the State of Florida.
  • Debt Service Reserve Fund: No debt service reserve fund is required for right-of-way acquisition and bridge construction bonds.
  • Lien Status: The bonds have a first lien on the pledged motor fuel and diesel fuel taxes.
  • Additional Bonds Test: Additional bonds may be issued so long as the pledged revenues exceed 111 percent of the annual debt service for all outstanding bonds and the proposed additional bonds.
Frequency:  As capital needs dictate.
Florida Division of Bond Finance | 1801 Hermitage Centre, Suite 200 | Tallahassee, Florida 32308
Telephone: (850) 488-4782 | E-mail: bond@sbafla.com