Florida Administrative Code › 19 - STATE BOARD OF ADMINISTRATION › 19A - Division of Bond Finance › Chapter 19A-3 - SALE AND AWARD OF BONDS AND HOUSING BONDS › Section 19A-3.002 - Definitions

Current through Reg. 50, No. 138; July 16, 2024
As used in this chapter:
(1) "Agency" shall mean the Florida Housing
				Finance Agency created by the Florida Housing Finance Agency Act.
(2) "Bonds" shall mean State bonds, or any
				revenue bonds, certificates, or other obligations, but not including Housing
				Bonds, issued by the Division pursuant to the provisions of the State Bond
				Act.
(3) "Division" shall mean the
				Division of Bond Finance of the State Board of Administration.
(4) "Florida Housing Finance Agency Act" or
				"Housing Act" shall mean Sections
				 420.501 through
				 420.515, F.S., as amended, and
				as specifically amended by Chapter 83-238, Laws of Florida.
(5) "Governing Board" shall mean the Governor
				and Cabinet of the State sitting as the governing board of the
				Division.
(6) "Housing Bonds" shall
				mean bonds issued by the Division on behalf of and in the name of the Agency
				pursuant to the provisions of the State Bond Act and the Housing Act. In cases
				of conflict between the two Acts, the provisions of the Housing Act shall be
				controlling.
(7) "State" shall mean
				the State of Florida.
(8) "State
				Bond Act" shall mean Sections
				 215.57 through
				 215.83, F.S.
(9) "Bond underwriter" or "underwriter" shall
				mean an individual, firm, or group of firms that initially purchases a new
				issue of bonds from the state.
(10)
				"Senior book running underwriter" shall mean the underwriter serving as head of
				the underwriting group selected to purchase bonds.
(11) "Financial advisor" shall mean an
				individual or firm retained to advise the Division on financial matters
				relating to the issuance of bonds or other activities of the Division,
				including, but not limited to, technical assistance in the design of financing
				arrangements and instruments; planning financial strategy for marketing,
				pricing and securing bond ratings; or representing the Division's interest in
				financial market dealings.
(12)
				"Finder" shall mean a person or firm that enters into an understanding with a
				bond underwriter for any paid or promised compensation or valuable
				consideration to act as an intermediary, directly or indirectly, expressly or
				impliedly, between the Governing Board and such bond underwriter for the
				purpose of influencing any transaction in the purchase of bonds or any other
				activity of the Division.
(13)
				"Order Period" shall mean in a negotiated sale of bonds the period of time
				established by the senior bookrunning underwriter and the Division during which
				orders are accepted from members of the underwriting group.
(14) "Takedown" shall mean a component of the
				gross underwriting spread, similar to a commission, which represents the income
				derived from the sale of the bonds.
(15) "Purchaser" shall mean the individual or
				entity which directly purchases bonds from an underwriter or from the Division
				when there is no underwriter.
Rulemaking Authority
					 215.62(5) FS.
					 Law Implemented 215.68(5),
					 420.509
					 FS.
New 3-27-84, Formerly 13K-3.02, Amended 10-8-90, 12-3-91,
					 Formerly 13K-3.002.