What is CaPFA?
The Capital Projects Finance Authority (CaPFA) is a public body corporate and politic, created pursuant to Ordinance No. 214, duly enacted by the City Council of the City of Moore Haven, Florida on September 23, 1993 (the "Ordinance") for the purpose of making loans to qualified Public Agencies in the State of Florida or of the United States.

Public Agencies as defined in Chapter 163, Florida Statutes, means a political subdivision, agency, or officer of this state or of any state of the United States, and of any commonwealth, territory, possession, or protectorate of the United States which has one or more of the attributes of a state of the United States, including, but not limited to, state government, the District of Columbia, county, city, state or local finance authority, school district, single or multipurpose special district, single or multipurpose public authority, metropolitan or consolidated government, an independently elected county officer, any agency of the United States Government, and any similar entity of any other state of the United States and of any commonwealth, territory, possession, or protectorate of the United States which has one or more of the attributes of a state of the United States.

Pursuant to Article VIII, Section 2, of the Constitution of the State of Florida and Chapter 166, Florida Statutes, as amended, the City Council has all home rule powers of local self-government including all governmental, corporate and proprietary powers to enable the City to conduct municipal government, to perform municipal functions, to render municipal services and to exercise any power for municipal purposes, except as otherwise provided by law, and to exercise extra-territorial powers, and certain enumerated powers may be exercised under the Ordinance pursuant to resolutions of the Issuer, including the Bond Resolution.

Financings are made available outside the Area of Operation of the Authority by utilizing Interlocal Agreements with Public Agencies which have geographical jurisdiction for the project to be financed. Financing can be provided for any "Project" as defined in the ordinance. Projects means "any capital project which furthers the purposes of this ordinance, whether real or personal property, including any building, land, fixture, vehicle, equipment, facility, streets, transportation facilities, street lighting, sidewalks, greenscapes, drainage, sewers, water and utility systems, water and sewer treatment facilities, power facilities, solid waste facilities, landfills, recycling facilities, resource recovery facilities, co-generation facilities, parks, administrative facilities, community facilities, health facilities, recreational facilities, golf courses, marinas, public lodging facilities, port facilities, airport facilities, educational facilities, Qualifying Housing Developments as defined in Ordinance No. 203 of the City ...."

The Ordinance establishes the Authority’s powers, membership, facilities and term, and addresses the issuance of bonds and other obligations of the Authority. The Authority is governed by a Governing Body, consisting of the members of the City Council of the City acting ex-officio as the Governing Body.

On September 23, 1993, the Authority approved a Bond Resolution which authorized the Authority to issue, pursuant to the provisions of the Act, not exceeding $750,000,000 of its revenue bonds in one or more series to finance or refinance the acquisition, construction, rehabilitation, improvement and equipping of qualified public purpose projects. The issuance of these bonds was validated by final judgement of the Circuit Court in and for Glades County on October 26, 1993. The appeal period for such judgement expired on November 23,1993 without appeal therefrom having been taken.

On August 11, 1998, the Authority approved a Bond Resolution which authorized the Authority to issue, pursuant to the provision of the Act, of not exceeding an additional $750,000,000 of its revenue bonds in one or more series to finance or refinance the acquisition, construction, rehabilitation, improvement or equipping of qualified public purpose projects. The issuance of these additional bonds was validated by final judgement of the Circuit Court in and for Glades County on September 17, 1998. The appeal period for such judgement expired on October 17, 1998 without appeal therefrom having been taken.

A third validation hearing was held on March 14, 2001. At that hearing, CaPFA received a final order from the Circuit Court to increase its validated bonding capacity by an additional $3,000,000,000. The appeal period for the order expired on April 14, 2001, and with no challenges having been filed, the final order became effective on that date.

The Bond Buyer’s Municipal Issuers Registry ranked CaPFA as the 14th largest issuer of bonded debt in the State of Florida for the years of 1996 - 1999. During that same period, CaPFA was ranked as the 253rd most active issuer in the United States.

The Authority has retained William L. Zvara, PA as Bond Counsel. All inquiries about the Authority, including information on bond issuance, should be made to Bond Counsel at 4810 Arapahoe Avenue, Jacksonville, FL 32210, telephone (904)387-2266.
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