News & Publications
NGN Serves as Bond Counsel on Florida’s First Social Bonds
Nabors, Giblin & Nickerson is pleased to announce that attorneys Rick Harb, Chris Traber and Michael Broschart recently served as Bond Counsel on the first ever issuance of “Social Bonds” in the State of Florida. Bonds are eligible for the Social Bond designation if the proceeds will be exclusively applied to finance or refinance eligible social projects directly aimed to address or mitigate a specific social issue and/or seeking to achieve positive social outcomes for one or more target populations.
The $14,415,000 Florida Development Finance Corporation Educational Facilities Revenue Bonds (Social Bonds – UCP Charter Schools Projects), Series 2020 were issued on September 3, 2020 on behalf of United Cerebral Palsy of Central Florida, Inc., a Florida non-profit charter school provider that currently serves over 3,500 students, both with and without disabilities, across eight campuses throughout Central Florida. UCP’s “Inclusion Model” encourages children with and without disabilities to interact, collaborate and build friendships, thus establishing a foundation for academic, social, and interpersonal gains. The Series 2020 Bonds were issued to finance the acquisition by UCP of certain leased facilities in Orlando, Florida from which it operates UCP Bailes Community Academy, a K-6 facility serving approximately 50% students with disabilities. UCP Bailes Community Academy also offers children of varying levels of special needs, underserved minorities and low-income families with educational and therapeutic services, social outreach, community resources and philanthropic support. A copy of the Official Statement for the Series 2020 Bonds is available here.
Since 2010, NGN has participated in tax-exempt and taxable charter school transactions totaling over $1.0 billion for the benefit of over 40 schools, including service as Bond Counsel on financings totaling over $800 million. Contact Rick Harb or Chris Traber for more information.