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Public Education Capital Outlay
Agency: State Board of Education.
Purpose: The bonds are issued for the purpose of financing capital outlay projects for the state system of public education (kindergarten to universities and vocational‐technical centers) which are approved by the Florida Legislature. Such projects generally include classroom buildings, laboratories, heating and cooling equipment, and major remodeling and roof replacement.
Security:
Pledged Revenues: The bonds are payable primarily from gross receipts taxes on telecommunications and utilities. One hundred percent of such taxes are distributed to the State Board of Education, which may use the funds for debt service or directly for the payment of approved projects. The bonds are also secured by the full faith and credit of the State of Florida.
Debt Service Reserve Fund: No debt service reserve fund is required for public education capital outlay bonds.
Lien Status: The bonds have a first lien on the pledged gross receipts taxes.
Additional Bonds Test: Additional parity bonds may be issued if the average annual amount of gross receipts taxes collected in the 24 month period prior to issuance is equal to or greater than 111% of the maximum annual debt service on the outstanding bonds and proposed additional bonds.
Frequency: Varies and in some years no bonds are issued, but there may be one to two new money issues a year, depending upon the number of projects approved by the legislature and the cash requirements for funding the projects.
Bonds Dated 2025
State of Florida, Full Faith and Credit, State Board of Education, Public Education Capital Outlay Refunding Bonds, 2025 Series A $241,035,000 (Dated 03/04/2025)
Tender Dated 2024
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Bonds, 2016 Series B, 2016 Series C, 2016 Series D, 2016 Series E, 2016 Series F, 2016 Series G, 2017 Series A, 2017 Series B, 2017 Series C, 2018 Series B, 2019 Series C, 2019 Series D, 2020 Series A, 2021 Series B (Dated 10/31/2024)
Bonds Dated 2024
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2024 Series B $113,220,000 (Dated 04/04/2025)
State of Florida, Full Faith and Credit, State Board of Education, Public Education Capital Outlay Refunding Bonds, 2024 Series A $231,610,000 (Dated 03/05/2024)
State of Florida, Full Faith and Credit, State Board of Education, Public Education Capital Outlay Refunding Bonds, 2024 Series A $231,610,000 (Dated 03/05/2024)
Bonds Dated 2023
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2023 Series A $168,330,000 (Dated 03/03/2023)
Bonds Dated 2022
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2022 Series C $151,945,000 (Dated 03/10/2022)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2022 Series B (Forward Delivery) $159,780,000 (Dated 03/03/2022)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2022 Series A (Forward Delivery) $122,705,000 (Dated 03/03/2022)
Bonds Dated 2021
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2021 Series B $272,615,000 (Dated 03/03/2021)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2021 Series A $134,645,000 (Dated 03/03/2021)
Bonds Dated 2020
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2020 Series D (Taxable) $397,440,000 (Dated 10/22/2020)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2020 Series C $111,545,000 (Dated 07/09/2020)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2020 Series B $95,125,000 (Dated 03/05/2020)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2020 Series A $257,730,000 (Dated 03/04/2020)
Bonds Dated 2019
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2019 Series D $168,825,000 (Dated 09/19/2019)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2019 Series C $234,155,000 (Dated 08/13/2019)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2019 Series B $135,465,000 (Dated 06/18/2019)
Bonds Dated 2018
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2018 Series C $149,120,000 (Dated 08/30/2018)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Bonds, 2018 Series B $116,070,000 (Dated 08/09/2018)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2018 Series A $146,465,000 (Dated 05/10/2018)
Bonds Dated 2017
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2017 Series C (Dated 12/28/2017)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2017 Series A $148,555,000 (Dated 09/12/2017)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2016 Series F $148,400,000 (Dated 03/03/2017)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2017 Series B $261,635,000 (Dated 09/21/2017)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Bonds, 2016 Series G $92,350,000 (Dated 06/22/2017)
Bonds Dated 2016
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2016 Series A $116,720,000 (Dated 03/08/2016)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2016 Series C $147,640,000 (Dated 07/14/2016)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2016 Series D $218,885,000 (Dated 08/04/2016)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2016 Series B $192,150,000 (Dated 05/19/2016)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Bonds, 2016 Series E $206,025,000 (Dated 09/08/2016)
Bonds Dated 2015
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2015 Series F $233,135,000 (Dated 11/24/2015)
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2015 Series E $306,645,000 (Dated 09/10/2015)
State of Florida, Full Faith and Credit, State Board of Education, Public Education Capital Outlay Refunding Bonds, 2015 Series A $233,825,000 (Dated 03/05/2015)
Bonds Dated 2014
State of Florida, Full Faith and Credit, State Board of Education Public Education Capital Outlay Refunding Bonds, 2014 Series A $108,840,000 (Dated 04/01/2014)
State of Florida, Full Faith and Credit, State Board of Education, Public Education Capital Outlay Refunding Bonds, 2014 Series B $117,300,000 (Dated 09/04/2014)