University of Florida Parking
Agency: Board of Governors of the State University System and the University of Florida
Purpose: The bonds are issued to finance the construction of revenue-generating parking facilities at the University of Florida.
Security:
Pledged Revenues: The bonds are secured by net revenues of the University of Florida parking system. 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 120% of the maximum annual debt service on the outstanding bonds.