SUBJECT
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Consider Adopting a Resolution Approving the Issuance by the Capital Projects Finance Authority (The “Authority”) of its Student Housing Revenue Bonds in an Aggregate Principal Amount Not to Exceed $140,000,000, the Proceeds from the Sale of Which Will Be Used Principally to Finance and Refinance the Cost of Acquisition, Construction, Improvement, Furnishing and Equipping of Certain Student Housing Facilities Located Within Polk County, Florida Owned and Operated by SFP-Solaris, LLC (The “Borrower).
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DESCRIPTION
The Capital Projects Finance Authority has submitted to the Board of County Commissioners (the “Board) of Polk County, Florida (the “County”), a copy of the resolution of the Authority adopted on October 6, 2026 (the “Authority Resolution”), granting its approval for the issuance by the Authority of its Student Housing Revenue Bonds (SFP-Solaris, LLC Project) (the “Bonds”), in an aggregate amount not to exceed $140,000,000. The proceeds will be used for the purpose of financing and refinancing costs related to the acquisition, construction, improvement, furnishing, and equipping of student housing facility, dining facility and related surface parking for such facilities located within Florida Polytechnic University’s (the “University”) campus, including associated site work, landscaping, green space, and utility installation and relocation, and, if deemed necessary or desirable, the funding of debt service reserves, capitalized interest for the Bonds, the funding of operating reserves, and the payment of costs of issuing the Bonds, including a municipal bond insurance premium. On September 9, 2026, the Authority held a public hearing with reasonable public notice at which members of the public were afforded reasonable opportunity on all matters pertaining to the location and nature of the project, and the issuance of the bonds.
The Authority has requested the County to approve the issuance of the bonds for the limited purpose of satis...
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