Toll Facilities – Sunshine Skyway
Agency: Department of Transportation
Purpose: The bonds are issued to finance capital improvements to the Sunshine Skyway Bridge and transportation projects in the counties where the bridge is located. The Sunshine Skyway is a toll bridge connecting St. Petersburg in Pinellas County to Manatee County, passing over the waters of Pinellas, Hillsborough and Manatee Counties.
Security:
Pledged Revenues: The bonds are payable from the revenues of the Sunshine Skyway, after deducting administrative expenses and the costs of operation and maintenance. 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 payment of the bonds.
Debt Service Reserve Fund: No debt service reserve fund has been funded.
Lien Status: The bonds have a first lien on the net revenues of the Sunshine Skyway.
Additional Bonds Test: Additional parity bonds may be issued if the net revenues are equal to or greater than 150% of maximum annual debt service on outstanding bonds and any proposed parity bonds.