BRADENTON, Fla. — The Central Florida Expressway Authority appointed Lisa Lumbard as the agency's permanent chief financial officer.
Lumbard has been the agency's interim CFO the past two years, overseeing budgeting, financial reporting, contract compliance, and debt management.
"I'm very excited to have Lisa in this key role at CFX," said CFX Executive Director Laura Kelley, who announced Lumbard's promotion at the authority's July 9 board meeting.
"I've developed a tremendous amount of respect and confidence in her ability to maintain our financial stability and strong reputation throughout the transportation and financial communities," said Kelley, who was recently appointed the agency's first female director.
Lumbard joined CFX's predecessor agency, the Orlando-Orange County Expressway Authority, more than a decade ago. She worked through the ranks of the finance department to become manager of accounting and finance prior to becoming interim CFO.
She received degrees in finance and international business from Florida State University.
Lumbard's appointment was announced a day after the Central Florida Expressway Authority issued the first bond deal under its name.
CFX priced $193.7 million of A-rated senior lien revenue bond anticipation notes July 8. Wells Fargo Securities was the lowest bidder with an all-in true interest cost of 1.59%.
The BANs will provide bridge-financing for a portion of the 25-mile Wekiva Parkway toll road that will complete the northern beltway around Orlando.
The authority plans to take out the BANs in January 2019 through a draw on its junior-lien Transportation Infrastructure Finance and Innovation Act loan. The 35-year TIFIA loan closed in March at a rate of 1.23%, the lowest interest rate ever for the federal loan program.
