Since its formation in 1985, Gulf Breeze Financial Services (GBFS) has financed over $870 million of low-cost loans to governmental entities around the state of Florida. Offering both variable and fixed rate loans to localities and other political subdivision, GBFS has financed utility services & waste water projects, port projects, municipal buildings, roadways and other various capital projects to improve local economies. All of these projects have been based on revenue streams assigned to the project without a general obligation of the taxing power of the State of Florida or any political subdivision of it. In each of these cases, GBFS has facilitated lower financing rates so that each of these borrowers created the best possible outcome for its citizens. The projects funded to date, and their totals, are as follows:
These rates have been so attractive that many projects that were already financed and making debt service payments utilized GBFS to refinance their outstanding debt to create a cost savings. To date, those refinancing are as follows:
This decrease on the burden of municipalities and political subdivisions has helped to save taxpayer’s funds.
Under GBFS Loan Programs, each time a new loan is made it receives a new CUSIP. To resolve any confusion as to which borrower is associated with a particular CUSIP under the various Programs, the following table should be helpful in gaining a better understanding of the borrower and their particular financing. For a better understanding of the financial health of each borrower it is strongly recommended that a bond holder review the financials reports of the borrower associated with the CUSIP they hold. For public entities in Florida these financial reports are referred to as Comprehensive Annual Financial Reports (CAFRs) and are available on the borrower’s website or through their finance department. Additional information may also be found on the MSRB’s EMMA site.