About Florida Environmental Bond Programs
This is the official website for the State of Florida Department of Environmental Protection Florida Forever Revenue and Everglades Restoration Revenue Bond programs, the Inland Protection Financing Corporation Revenue Bond program, and the Florida Water Pollution Control Financing Corporation Water Pollution Control Revenue Bond program issued by the Florida Division of Bond Finance on behalf of the Florida Department of Environmental Protection and the financing corporations. The bonds are not a general obligation or indebtedness of the State of Florida and the full faith and credit of the State of Florida is not pledged to the payment of the bonds.
Florida Forever Revenue Bond & Everglades Restoration Revenue Bond Programs
The Florida Forever Revenue Bonds finance acquisition and improvement of lands, water areas, and related property interests and resources for restoration, conservation, recreation, water resource development or historical preservation.
The Everglades Restoration Revenue Bonds finance or refinance the cost of acquisition and improvement of land, water areas, and related property interests and resources to implement the Comprehensive Everglades Restoration Plan and the Florida Keys Area of Critical State Concern protection plan. The bonds may be issued in amounts up to $100 million per fiscal year through Fiscal Year 2019-20, and in greater annual amounts upon request by the Department of Environmental Protection in order to achieve cost savings or accelerate land purchases. In addition, up to $50 million per fiscal year may be issued specifically for the purpose of funding the Florida Keys Area of Critical State Concern protection program.
There are currently outstanding both fixed and variable rate bonds under the Everglades program. The variable rate bonds may be issued in weekly and daily variable rate modes, commercial paper mode, fixed rate mode and several auction rate modes. The bonds which were issued in weekly mode are secured with a liquidity facility provided by the State treasury.
The Florida Forever and Everglades bonds are payable from documentary stamp taxes levied on the conveyance of real property, stocks, bonds, mortgages and other security agreements. Florida law provides that 100% of the documentary stamp taxes are available to pay debt service on the Florida Forever Revenue Bonds and Everglades Restoration Revenue Bonds, on a parity basis.
Inland Protection Financing Corporation Revenue Bond Program
The Inland Protection Bonds finance the cost of rehabilitation of petroleum contamination sites for the Department of Environmental Protection. The availability of the pledged revenues is subject to annual appropriation by the Legislature.
The Inland Protection Bonds are payable from moneys which are derived from a wholesale excise tax collected primarily on petroleum products and then distributed to the Inland Protection Trust Fund.
Water Pollution Control Revenue Bond Program
The Water Pollution Control Bonds are issued by the Florida Water Pollution Control Financing Corporation to finance loans made by the Department of Environmental Protection to local governments for the purpose of financing the cost of water pollution control projects and activities.
The Florida Water Pollution Control Bonds are payable from moneys paid to the Corporation by the Department from the repayment of the loans made to local governments.
On behalf of the State of Florida, I want to welcome you to our new investor relations website. We appreciate your interest and investment in Florida bonds, as it allows us to make critical investments in public infrastructure throughout the state. We are committed to maintaining our high bond ratings and we are also committed to being as transparent as possible. I hope you find this website useful as you seek to better understand the credit fundamentals of the State. Please do not hesitate to contact me with suggestions for how we can be doing better. Thanks again for your interest in our bond programs.