FSU Research Foundation
Agency: Board of Governors of the State University System and Florida State University Research Foundation
Purpose: The bonds are issued to finance the construction of research facilities at Florida State University.
Security:
Frequency: As needed for additional projects as demand justifies.
Purpose: The bonds are issued to finance the construction of research facilities at Florida State University.
Security:
Pledged Revenues: The bonds are secured by Florida State University Research Foundation facility revenues from subletting research facilities to various tenants. These bonds do not constitute a general obligation of the State of Florida or the University, and the full faith and credit of the State of Florida is not pledged to payment of these 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 110% of the maximum annual debt service on the outstanding bonds.