Agency: Board of Governors of the State University System and the University of North Florida
Purpose: The bonds are issued to finance a student wellness center at the University of North Florida.
Security:
- Pledged Revenues: The bonds are secured by a mandatory student health fee charged to students at the University of North Florida on a credit hour basis. The bonds are not a general obligation or indebtedness of either the State of Florida or of the university, and the full faith and credit of the State of Florida and the university is not pledged to payment of the bonds.
- Debt Service Reserve Fund: The bonds are not secured by a reserve account.
- Lien Status: The bonds have a first lien on the pledged revenues.
- Additional Bonds Test: Additional parity bonds may be issued if the average pledged revenues for the two preceding fiscal years are at least 120% of the maximum annual debt service on the outstanding bonds.
Frequency: As needed for additional projects as demand justifies.