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Bryant Miller Olive Serves as Bond Counsel for Issuance of $68.86 Million Certificates of Participation for University of Central Florida

       ORLANDO – Financial Guaranty Insurance Company has announced the issuance of $68.86 million in Certificates of Participation, Series 2004A, for the University of Central Florida Athletics Association, Inc., Master Lease Program. Bryant Miller Olive served as bond counsel in the transaction to develop a credit enhanced solution that enabled the University to support its enrollment growth.
          The Certificates of Participation are being used to finance the cost of construction of student housing comprised of over 1,000 beds to be located in the northeastern portion of the University's main campus adjacent to existing athletic fields and facilities. The project consists of popular apartment style units that not only satisfy a deficiency of on-campus housing but also enhance the University's competitive position. UCF's Department of Housing and Residential Life will manage the project and be directly responsible for providing all marketing, utilities and shuttle service for the project.
          The bonds were successfully issued through a partnership between the University of Florida Athletics Association, the law offices of Bryant Miller Olive, Florida's top-ranked bond counsel practice based on the number of transactions completed by the firm each year in the state, Kirkpatrick Pettis (A Mutual of Omaha Company), the managing underwriter, First Southwest Company, who served as financial advisor, and FGIC. Bryant Miller Olive has one of the largest bond practices of any law firm in the state and its attorneys provide services in many privatized transactions of this type. The firm is recognized for its expertise and quality of legal representation in not only public finance but also land use, utility, energy, governmental consulting, public procurement, administrative, and state and local government law.

 

 

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