Agency: Department of Children and Families (the "Department"), as Lessee pursuant to Lease-Purchase Agreements with the Florida Civil Commitment Center Financing Corporation and the South Florida Evaluation Treatment Center Financing Corporation (the “Corporations”), as Lessors.
Purpose: The certificates are issued to finance and refinance privately operated forensic and civil mental health treatment facilities, which are leased by the Corporations to the Department.
Security:
- Pledged Revenues: The certificates evidence a fractional undivided interest in the Basic Rent Payments to be made by the Department pursuant to the Lease-Purchase Agreements with the Corporations. The certificates are secured by and payable solely from legally available funds appropriated by the Florida Legislature for such payments. The availability of such funds for the Basic Rent Payments due under the Lease-Purchase Agreements is dependent on annual legislative appropriations to the Department. The certificates are not a general obligation or a pledge of the faith and credit of the Department, the Corporations, or the State of Florida, or any political subdivision, agency, or instrumentality thereof.
- Debt Service Reserve Fund: No debt service reserve has been funded.
- Lien Status: Each series of certificates has a first lien on the Basic Rent Payments to be made by the Department under the lease schedule for the applicable Lease-Purchase Agreement.
Frequency: No additional issuances anticipated.