About Florida Facilities Bond Programs
This is the official investor website for the State of Florida Department of Management Services Florida Facilities Pool Revenue Bond and Certificates of Participation programs issued by the Florida Division of Bond Finance on behalf of the Department of Management Services.
Florida Facilities Pool Revenue Bond Program
The bonds are issued for the purpose of financing office buildings and similar facilities, to be leased to State agencies. All facilities built with bond proceeds become part of the Florida Facilities Pool along with certain other State-owned facilities. The bonds are payable primarily from the pool pledged revenues, which consist of rental revenues derived from facilities in the Florida Facilities Pool. The availability of pool pledged revenues is dependent on annual legislative appropriations to agencies of the State for payment of such rentals. The bonds are not a general obligation or indebtedness of the State of Florida, and the full faith and credit of the State of Florida is not pledged to the payment of the bonds.
Certificates of Participation (Master Lease Agreement with Florida Correctional Finance Corporation, Lessor)
The certificates are issued for the purpose of financing correctional facilities to be leased to the Department of Management Services (the "Department"). The certificates evidence a fractional undivided interest in certain Basic Rent Payments to be made by the Department pursuant to a Master Lease Agreement with the Florida Correctional Finance Corporation (the "Corporation"), as Lessor. The certificates are secured by and payable from legally available revenues of the Department annually appropriated by the legislature for such purpose. The availability of basic rent payments is dependent on annual legislative appropriations by the Department. The certificates are not a general obligation or pledge of full faith and credit of the Department, the Corporation or the State of Florida, or any political subdivision, agency or instrumentality thereof.
On behalf of the State of Florida, I want to welcome you to our new investor relations website. We appreciate your interest and investment in Florida bonds, as it allows us to make critical investments in public infrastructure throughout the state. We are committed to maintaining our high bond ratings, and we are also committed to being as transparent as possible. I hope you find this website useful as you seek to better understand the credit fundamentals of the State. Please do not hesitate to contact me with suggestions for how we can be doing better. Thanks again for your interest in our bond programs.