19A-3.002. Definitions

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 bookrunning 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. History–New 3-27-84, Formerly 13K-3.02, Amended 10-8-90, 12-3-91, Formerly 13K-3.002.