Fla. Admin. Code Ann. R. 19-4.0081 - Policies and Review Procedures for Debt Service Investments
(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.
Notes
Rulemaking Authority 215.52 FS. Law Implemented 215.44, 215.45, 215.47 FS.
New 8-24-82, Formerly 19-4.07, Amended 12-25-85, Formerly 19-4.081.
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