Florida Regulations 19-4.0081: Policies and Review Procedures for Debt Service Investments
Current as of: 2024 | Check for updates
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(1) Investments and the maturities of those investments for debt service sinking funds, including those reserve funds in excess of the current or next ensuing year’s principal and interest payment, shall be managed consistent with the provisions of the authorizing bond resolutions, official statements and the current investment strategy of the Board.
(2) The maturity structure of the debt service reserve fund shall be determined by the professional judgment of the Board’s investment staff and will include consideration of the following factors:
(a) Ratio of reserves to principal debt outstanding.
(b) Number of years remaining in the life of the issue.
(c) Ratio of reserves to current year’s principal and interest.
(d) Ratio of annual revenue to annual debt service requirements.
(e) Historical rate of increase of pledged revenue.
(f) Alternative revenue and other sources available for the payment of the bonds.
(g) Yield and premium for maturity extension.
Rulemaking Authority 215.52 FS. Law Implemented 215.44, 215.45, 215.47 FS. History-New 8-24-82, Formerly 19-4.07, Amended 12-25-85, Formerly 19-4.081.
(a) Ratio of reserves to principal debt outstanding.
(b) Number of years remaining in the life of the issue.
(c) Ratio of reserves to current year’s principal and interest.
(d) Ratio of annual revenue to annual debt service requirements.
(e) Historical rate of increase of pledged revenue.
(f) Alternative revenue and other sources available for the payment of the bonds.
(g) Yield and premium for maturity extension.
Rulemaking Authority 215.52 FS. Law Implemented 215.44, 215.45, 215.47 FS. History-New 8-24-82, Formerly 19-4.07, Amended 12-25-85, Formerly 19-4.081.