Statutory Authority
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.
Eligible Projects
Projects eligible to be financed or refinanced with the proceeds of Bonds include the acquisition, construction, reconstruction, improvement, rehabilitation, renovation, expansion and enlargement, or additions to, furnishing and equipping of any qualifying project, primarily including, but not limited to, any "project" (as defined in Section 159.27. Florida Statutes), including land, rights in land, buildings and other structures, machinery, equipment, appurtenances and facilities incidental thereto, and other improvements necessary or convenient therefor, in order to promote the industrial economy of the host jurisdiction and the State, increase and preserve opportunities for gainful employment and purchasing power, improve the prosperity and welfare of the host jurisdiction and the State and its inhabitants, and otherwise contribute to the prosperity, education and welfare of the host jurisdiction and the State, and the inhabitants thereof.
Application and Issuance Procedures
FLGFC requires all person(s) or entity(ies) seeking to have Bonds issued on its behalf to make a full and complete application prior to the FLGFC considering whether to grant approval to proceed with the issuance of Bonds. The issuance of Bonds by FLGFC shall be subject to the terms and conditions of its Conduit Bond Issuance Policy. Upon submission and acceptance of an application, the FLGFC will work with borrowers to schedule the appropriate hearings and meetings required for final approval of the Bonds by the FLGFC Board. Such approval is required prior to the closing/funding of any debt transaction.