The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1939-09-07
CHAPTER 1929


AN ACT to Amend Section "A of
Chapter 1886, Acts of 1929, Laws
of Florida. Entitled IAN Act Pro
Widing for Depository of Sinking
Funds and Delinquent Taxes and
Other Moneys for Road and Bridge
Indebtedness of the Counties and
Special Road and Bridge Districts
of the State or Otherwise. Autho-
rizing the Issuance of Refunding
Bonds BY Said Counties and Spe-
cial Road and Bridge Districts, and
of Administration and the Disburse-
ments of Such Funds to Pay Such
Indebtedness and the Use of any
Surplus in any County for the Con-
struction and Maintenance of Roads
and Bridges" as Amended by Chap
ter 1891. Acts of 1888, Laws of
Florida. Which Amendment Provid-
ed for Certain Additional Alterna-
tive and Supplementary Duties and
Powers of the State Borad of Adj
mlnistration in Connection with it's
Functions as Fiscal Agent for The
Several Counties of the State of
Florida with Reference to Road
District. Road and Bridge District.
Special Road and Bridge District,
and County Road Bonds, and Bond
Issues Subject to Said Chapter. and
Providing by this Amendment for
the Disposition of any Surplus in
any County Account for Public
Highway Construction and Mantle
or Purchase of Certain Toll or Other
Bridges; and Limiting the Use of
Second Gas Tax Funds Placed to
the Credit of the Several Counties
Administered by the State Board of
Administration.
Be 1t Enacted by the Legislature of
the State of Florida:
Sec. /. That Section IA of Chap
ter 144S6, Acts of 1929, Laws of
Florida I16n,a as amended by Chapter
1881. Acts of 1888. Laws of Florida.
be and the same is hereby further
amended to read as follows:
Sec. IA. (al The Board of Admin
lstratlon shall annually before the
first day of June of each year. care
fully estimate the amount of money
which will be available for the next
fiscal year. for each of the accounts
provided for by Section Is of this
Act.
"(b) In arriving at the amount of
money available to meet the require
ments of interest and principal or
sinking funds of the bonds to which
such accounts are applicable, re-
spectively. the Board of Admins
tration shall first apply any avail
able funds in the Sinking Fund Ac-
counts. so for as may be necessary.
If the moneys so applied are not suf-
nclent for said purposes in any
County. it shall then apply to meet
such requirements. SO far as NAV be
necessary. any money to the credit
or estimated to be available for
the credit of such County from the
gas tax or other moneys made avail
able by law as supplementary
source of revenue
"tc) In so applying moneys cred
tied to each County. except Sinking
Fund Accounts. there shall be ap-
portioned to each subdivision (yheth-
err the County itself or Road and
Bridge Districts therein) such pro-
portion of the moneys as the amount
of the participating bonds of each
subdivision bears TO the aggregate
amount of the participating bonds to
which the accounts are applicable.
I'D Provided the State Board of
Administration is hereby authorized
and directed. by and with the ap-
prevail of the County Commissioners
of affected county. TO be evidenced
by a Resolution thereof duly certi-
fled to and filed with the said State
Board of Administration. to use any
or all of the moneys derived from
Gasoline Taxes and credited to the
account of such County. or Road
or Road and Bridge District therein,
for the purpose Of purchasing at a
price below the par value thereof.
and at the lowest bid offered, any
Bond or Bonds of any Road District,
Road and Bridge District, or County
District Bond Issue TO which such
moneys as credited to such County,