Loan Program

NEW!

The Florida Local Government Finance Program has recently partnered with J.P. Morgan Chase Bank as its new program partner, strengthening its ability to serve its clients. The new series of commercial paper backing the loans received ratings of P-1, the highest rating possible, from Moody’s Investor Service on May 31, 2011.  

In addition, the program is celebrating its 20th year anniversary! Having survived the credit crisis in 2008, it is one of the longest running municipal commercial paper loan programs in the state and has issued over $2 billion dollars to over 50 local governments in Florida.

Offering Memorandum

Moody's Rating Letter

Overview

The Florida Local Government Finance Program is a flexible, low-interest, short to medium term loan program geared toward helping local governments meet their many infrastructure and capital needs. Funding acquired through the program has been used for landfills, water and sewer facilities, courthouses, spring training complexes, library construction, beach re-nourishment, and more.

Rates and Loan Amounts

Flexibility and ease of use are the hallmarks of this time-tested program. Loans are for five years or less and for $5 million or more. Prepayments can be made at any time, with sufficient notice, with no penalty.

Governance and Administration

The program is governed by the Florida Local Government Finance Commission, composed of officials from participating counties and administered in house by the Florida Association of Counties.

For the most up-to-date Program information, please click the following links:

Program Brochure (with rate history) 

BBRBI Chart

 MARKET UPDATE

JPM Chase Bank Transaction and Market Summary - 06/08/11