Fitch Rates Florida College System Capital Improvement Revs 'AA-'; Outlook Stable
NEW YORK, Feb 21, 2012 (BUSINESS WIRE) -- Fitch Ratings assigns an 'AA-' rating to $10 million State of Florida Department of Education (DOE) college system capital improvement revenue bonds, series 2012A. The fixed rate series 2012A bonds (the bonds) are expected to sell competitively the week of Feb. 20, 2012. Proceeds of the bonds will be used to finance a portion of the cost of new construction and equipment of educational facilities at Palm Beach State College.
In addition, Fitch affirms the 'AA-' rating on approximately $102 million of outstanding community college capital improvement revenues bonds previously issued by the DOE.
The Rating Outlook is Stable.
SECURITY:
The bonds are secured by and payable from a first lien of certain Capital Improvement Fees (CIF) collected by the eight Participating Florida College Institutions (PFCI). CIFs are assessed to all students per credit hour at PFCIs for college credit instruction or non-college-credit college preparatory courses. Currently, eight of the 28 Florida College System (FCS or the system) colleges are classified as PFCIs and participate in the capital improvement revenue bond program. The bonds will not be secured with a debt service reserve fund, unlike prior issuances under the capital improvement revenue bond program. The lack of a debt service reserve is not concerning given the depth and breadth of pledged revenue sources.
Free help to install car seats correctly
With free car seat inspections offered throughout the state, though, a parent can ensure a child is as safe as possible.
According to the Florida Department of Health, motor vehicle crashes are the third leading cause of injuries and deaths for children from birth to age 14. That is an improvement; car crashes once were the No. 1 killer.
At one recent car seat inspection, Peggy Klimek, a child passenger safety instructor and technician, met with expectant mother Sari Wati in the Manatee Memorial Hospital parking lot.
"People come because they want to do the right thing," Klimek said.
Before the inspection began, the idea that it would take a few minutes quickly vanished.
"There's a lot more to car seat installation than we dreamed," Klimek said.
Clipboard in hand, collecting facts and asking questions, Klimek wrote down the car seat manufacturer, model number, and place of purchase. The facts are used in national statistics provided to insurance and car manufacturers.
