Florida Gov. Charlie Crist and his Cabinet Tuesday approved $1.27 billion of bond issuances.
The largest authorization was $924 million of state Board of Education public education capital outlay bonds to be sold in various tranches. The Cabinet authorized the immediate competitive sale of $200 million of the bonds to finance capital projects for schools, community colleges, and the state university system. The bonds will be secured by gross receipts taxes and the full faith and credit of the state, and will be sold by the state Division of Bond Finance.
The division also was given authorization to sell $60 million of university system improvement revenue bonds and $37.5 million of Florida facilities pool revenue bonds to finance construction of a state-owned courthouse in Leon County for the First District Court of Appeals.
The Cabinet also approved the sale of up to $250 million of homeowner mortgage revenue bonds by the Florida Housing Finance Corp. Various tranches of the bonds now will be prepared for sale by the division and housing finance corporation as funds are needed.