Our History
The Florida Local Government Finance Commission was formed by interlocal agreement between various Florida counties in 1991 and is a legal entity created pursuant to Chapter 163, Florida Statutes. The governing body of the Commission consists of a representative from each of the six member counties of Brevard, Charlotte, Lee, Osceola, Sarasota, and St. Johns County.
Commercial Paper Loan Program
The Commission launched the Florida Local Government Finance Program (FLGFP) initially with the Commercial Paper Loan Program. For over 30 years, the FLGFP’s Commercial Paper Loan Program has been providing local governments with a tax exempt, flexible, low cost financing alternative. Since inception, the Commercial Paper Loan program has loaned over $2.9 billion to over 50 counties, cities, school boards, port authorities and other special districts across the State of Florida. Over the years the Commercial Paper Loan Program has provided financing for a wide range of capital improvement projects to include: road improvements, public buildings, beach renourishment and channel dredging projects, emergency management and public safety equipment such as airplanes, helicopters and SCUBA equipment. The list is endless.
Conduit Bond Program
In 2023, the Commission’s powers were expanded to authorize it to act as a conduit issuer of tax-exempt and taxable debt for qualifying public purpose projects throughout the State. The FLGFC may, for the purposes of financing or refinancing any qualifying capital project, exercise all powers in connection with the authorization, issuance, and sale of private activity revenue bonds ("Bonds") pursuant to all privileges, benefits, powers and terms of Part I, Chapter 125, Florida Statutes, its constitutional and statutorily implemented home rule powers, and Chapter 159, Florida Statutes. The Circuit Court of the Second Judicial Circuit in and for Leon County, Florida has validated the FLGFC's conduit revenue bond program and any Bonds issued pursuant thereto.
Conduit Bonds are an innovative financing tool which allows local governments to assist in financing the acquisition, construction, reconstruction, improvement, rehabilitation, renovation, expansion and enlargement, or additions to furnishing and equipping of any qualifying Private Project.
Created by local governments for local governments, the FLGFP’s two programs are uniquely qualified to meet your needs. The program is governed by local government officials and backed by some of the nation’s most pre-eminent financial institutions. We look forward to learning more about how the FLGFP can assist you with your borrowing needs.