Section 19A-5.002 - DefinitionsThe following words or terms when used in this rule chapter shall have the following meanings:
(1) "Certificate of Participation" means a financial instrument representing a right to share in payments made pursuant to a Master Equipment Financing Agreement.(2) "Comptroller" means the Comptroller of the State of Florida.(3) "Director" means the Director of the Division.(4) "Division" means the Division of Bond Finance of the State Board of Administration.(5) "Financing Professional" means one or more financial institutions, leasing companies or other participants necessary for the consolidated financing of deferred-payment purchases of equipment.(6) "Financial Advisor" means a person or firm retained to advise the Division on financial matters relating to the issuance of certificates of participation 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 ratings; or representing the Division's interest in financial market dealings.(7) "Finder" means a person or firm that enters into an understanding with an 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 underwriter for the purpose of influencing any transaction in the purchase of certificates of participation in a Master Equipment Financing Agreement or other activity of the Division.(8) "Governing Board" means the governing board of the Division composed of the Governor and Cabinet of the State of Florida.(9) "Master Equipment Financing Agreement" means an agreement to be executed pursuant to Section 287.064, F.S., for the purpose of implementing a consolidated financing program for the acquisition of equipment by deferred-payment purchases made by or on behalf of the State of Florida or its agencies or by or on behalf of state community colleges.(10) "Order Period" means, in a negotiated sale of certificates of participation, the period of time established by the underwriters and the Division during which orders are accepted from members of the underwriting group.(11) "Purchaser" means the person or entity which directly purchases certificates of participation from an underwriter.(12) "Takedown" means a component of the gross underwriting spread, similar to a commission, which represents the income derived by the underwriters from the sale of certificates of participation.(13) "Tax Counsel" means an attorney or firm of attorneys retained to give a legal opinion that the state is authorized to enter into a Master Equipment Financing Agreement, that the state has met all legal requirements necessary to enter into a Master Equipment Financing Agreement, or that interest on the Master Equipment Financing Agreement will be excludable from gross income for federal income tax purposes and, where applicable, for state and local taxation.(14) "Underwriter" means a person or firm that initially purchases a new issue of certificates of participation in connection with the award of a Master Equipment Financing Agreement.Fla. Admin. Code Ann. R. 19A-5.002
Rulemaking Authority 287.064(8) FS. Law Implemented 287.064 FS.
New 7-17-89, Formerly 13K-5.002, Amended 5-25-95.New 7-17-89, Formerly 13K-5.002, Amended 5-25-95.