reglab/statecodes huggingface dataset:
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 238 - Teachers' Retirement System › 238.172 - Proof Required.

238.172 Proof required.—For any person to obtain the allowance as set forth in s. 238.171 the person shall make such proof of the facts and conditions entitling him or her to the allowance as shall reasonably be required by the state board, and when such proof has been submitted to the satisfaction of the state board, the Chief Financial Officer shall pay to such person the monthly allowance provided for herein.
History.—s. 551, ch. 19355, 1939; CGL 1940 Supp. 892(155); s. 1, ch. 20914, 1941; s. 91, ch. 72-221; s. 20, ch. 95-148; s. 263, ch. 2003-261.
Note.—Former s. 231.51.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 238 - Teachers' Retirement System › 238.173 - Monthly Allowance to Widows or Widowers of Pensioners.

238.173 Monthly allowance to widows or widowers of pensioners.—When any teacher, drawing pension under s. 238.171, shall die leaving surviving a widow or widower to whom such pensioner has been married for a continuous period of at least 10 years immediately prior to his or her death, and from whom no dissolution of marriage is obtained, such widow or widower, upon proof of marriage to and continuation of marriage for the minimum period with, and death of, said pensioner, shall be granted a pension payable from the date of the death of said pensioner, and at the same time and rate as other pensions paid under s. 238.171. The Chief Financial Officer is authorized and directed to draw his or her warrants in payment of such pensions so long as such widow or widower shall remain unmarried and continue to be a resident of the state; provided, however, that nothing herein contained shall be so construed as to allow such pension to be paid to any widow or widower where such widow or widower of a deceased pensioner under this section receives a like pension in his or her own right as a retired school teacher.
History.—s. 1, ch. 20914, 1941; s. 91, ch. 72-221; s. 1, ch. 73-300; s. 21, ch. 95-148; s. 264, ch. 2003-261.
Note.—Former s. 231.52.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 238 - Teachers' Retirement System › 238.174 - Appropriation for Monthly Allowance to Incapacitated Teachers.

238.174 Appropriation for monthly allowance to incapacitated teachers.—There is appropriated out of any moneys in the State Treasury not otherwise appropriated, a sufficient sum of money to meet the requirements of s. 238.171.
History.—s. 3, ch. 14782, 1931; s. 91, ch. 72-221.
Note.—Former ss. 242.06, 231.53.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 238 - Teachers' Retirement System › 238.175 - Members With Prior Service in Federally Operated State Schools; Eligibility for Special Credits.

238.175 Members with prior service in federally operated state schools; eligibility for special credits.—
(1) Any member of the Teachers’ Retirement System or the Florida Retirement System established respectively by this chapter and chapter 121 who taught in a public school in Florida which was taken over and operated by the United States Government pursuant to Pub. L. No. 81-874 or other Federal Law, may claim and receive credit in the retirement system in which he or she is participating for the time he or she taught in such schools, while they were operated by the United States Government under the following conditions, provided credit for such teaching time has not been granted in any other state or federal retirement system.
(a) If the member was a member of the Teachers’ Retirement System prior to the time he or she began teaching in the public schools operated by the United States Government, he or she may claim and receive credit for such teaching time in the retirement system in which he or she is participating as prior service upon the payment of the amounts required to obtain credit for such prior service pursuant to the laws and rules governing the administration of his or her retirement system.
(b) If the member was not a member of the Teachers’ Retirement System prior to the time he or she began teaching in the public schools operated by the United States Government, he or she may claim and receive retirement credit for such teaching time in the following manner:
1. A member of the Teachers’ Retirement System may receive retirement credit for the time he or she taught in such federally operated schools as prior teaching service outside the state pursuant to the provisions of s. 238.06(4).
2. A member of the Florida Retirement System may receive retirement credit for the time he or she taught in such federally operated schools as past service pursuant to the provisions of, and following the payment of the amounts specified in, s. 121.081(1), notwithstanding any contrary provisions in said s. 121.021(18), or other provisions of law.
(2) The administrator of the retirement system shall make such rules and regulations as are necessary to carry out and implement the provisions of this section.
History.—s. 1, ch. 72-251; s. 22, ch. 95-148.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 238 - Teachers' Retirement System › 238.183 - Developmental Research School and Florida School for the Deaf and the Blind Instructional Personnel; Reemployment After Retirement.

238.183 Developmental research school and Florida School for the Deaf and the Blind instructional personnel; reemployment after retirement.—
(1) Notwithstanding any other law, instructional personnel, as defined in s. 1012.01(2), employed by a developmental research school or the Florida School for the Deaf and the Blind are eligible for reemployment after retirement in the same manner as classroom teachers who are employed by the district school boards, as described in ss. 121.091(9)(b) and 238.181(2)(c).
(2) Instructional personnel, as defined in s. 1012.01(2), employed by a developmental research school and authorized by the school’s director, or if the school has no director, by the school’s principal, are eligible for the Deferred Retirement Option Program (DROP) beyond 60 months in the same manner as the instructional personnel who are employed by the district school boards and authorized by the district school superintendent, as described in s. 121.091(13).
History.—s. 3, ch. 2004-355; s. 20, ch. 2009-209.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 238 - Teachers' Retirement System › 238.184 - Charter School Instructional Personnel; Reemployment After Retirement.

238.184 Charter school instructional personnel; reemployment after retirement.—Effective July 1, 2004, the director or principal of a charter school participating in the Florida Retirement System may reemploy a retired member as a substitute or hourly teacher on a noncontractual basis, or reemploy such retired member as instructional personnel, as defined in s. 1012.01(2)(a), on an annual contractual basis, after he or she has been retired for 1 calendar month in accordance with s. 121.021(39).
History.—s. 4, ch. 2004-355.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 238 - Teachers' Retirement System › 238.31 - Provision for Modification of Plan E.

238.31 Provision for modification of plan E.—Notwithstanding any provision contained herein to the contrary the provisions relating to retirement under s. 238.07(2)(e) shall be subject to amendment or modification by subsequent legislation and all other provisions of this chapter relating to the administration of plan E, or to the duties, rights, privileges, requirements and benefits of the members of plan E shall be subject to amendment, modification, deletion, or substitution by act of the 1965 Legislature of this state and all such legislation shall be applicable retroactively to July 1, 1963, with respect to all those persons who become members of plan E on or after July 1, 1963; provided, however, that such legislation shall not provide for a normal retirement age of members to exceed the age of 65 years, nor shall such legislation be applicable to any benefits which become payable to, or with respect to, such members prior to July 1, 1965.
History.—s. 11, ch. 63-554.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 238 - Teachers' Retirement System › 238.32 - Service Credit in Disputed Cases.

238.32 Service credit in disputed cases.—The Department of Management Services may in its discretion allow or deny a member service credit in disputed or doubtful cases for employment in Florida and out-of-state schools in order to serve the best interests of the state and the member, subject to the membership dates set forth in s. 238.06(4).
History.—s. 4, ch. 65-552; ss. 31, 35, ch. 69-106; s. 1, ch. 73-326; s. 87, ch. 99-255.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 238 - Teachers' Retirement System › 238.325 - Statements of Purpose and Intent and Other Provisions Required for Qualification Under the Internal Revenue Code of the United States.

238.325 Statements of purpose and intent and other provisions required for qualification under the Internal Revenue Code of the United States.—Any other provisions in this chapter to the contrary notwithstanding, it is specifically provided that:
(1) The purpose of this chapter is to provide pension benefits for the exclusive benefit of the member employees or their beneficiaries.
(2) No part of the principal or income of the trust fund created hereunder shall be used or diverted for purposes other than for the exclusive benefit of the member employees or their beneficiaries and for the payment of administrative cost.
(3) Forfeitures, if any, shall not be applied to increase the benefits any member employee would otherwise receive under this chapter.
(4) Upon termination or partial termination, upon discontinuance of contributions, abandonment, or merger, or upon consolidation or amendment of this chapter, the rights of all affected employees to benefits accrued as of the date of any of the foregoing events, or the amounts credited to the account of any member employee, shall be and continue thereafter to be nonforfeitable except as otherwise provided by law.
(5) No benefit hereunder shall exceed the maximum amount allowable by law for qualified pension plans under existing or hereafter-enacted provisions of the Internal Revenue Code of the United States.
(6) The compensation limits established by s. 401(a)(17) of the Internal Revenue Code prior to the Omnibus Budget Reconciliation Act of 1993, and adjusted for changes in the cost of living since 1989, in the manner provided by s. 401(a)(17) of the Internal Revenue Code of 1991, were part of the Teachers’ Retirement System of Florida on July 1, 1993.
(7) Except as otherwise provided herein, the provisions of this section are declaratory of the legislative intent upon the original enactment of this chapter and are hereby deemed to have been in effect from such date.
History.—s. 1, ch. 78-108; s. 15, ch. 96-368.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.18 - Short title.

243.18 Short title.—This part may be referred to as the “Higher Educational Facilities Authorities Law.”
History.—s. 1, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.19 - Findings and declaration of necessity.

243.19 Findings and declaration of necessity.—It is declared that for the benefit of the people of the state, the increase of their commerce, welfare, and prosperity, and the improvement of their health and living conditions, it is essential that this and future generations of youth be given the fullest opportunity to learn and to develop their intellectual and mental capacities; that it is essential that institutions for higher education within each county in the state be provided with appropriate additional means to assist such youth in achieving the required levels of learning and development of their intellectual and mental capacities; that it is the purpose of this part to provide a measure of assistance and an alternate method to enable institutions of higher education in each county of this state to provide the facilities and structures which are sorely needed to accomplish the purposes of this part; and that it is essential to provide additional assistance to institutions for higher education by enabling those institutions to coordinate their budgetary needs with the timing of receipt of tuition revenues in a manner similar to programs authorized for school districts within the state. The necessity in the public interest of the provisions hereinafter enacted is hereby declared as a matter of legislative determination.
History.—s. 2, ch. 69-345; s. 16, ch. 99-252.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.23 - Payment of expenses.

243.23 Payment of expenses.—All expenses incurred in carrying out the provisions of this part shall be payable solely from funds provided under the authority of this part, and no liability or obligation shall be incurred by an authority hereunder beyond the extent to which moneys shall have been provided under the provisions of this part.
History.—s. 6, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.24 - Acquisition of real property.

243.24 Acquisition of real property.—The authority is authorized and empowered, directly or by and through a participating institution for higher education as its agent, to acquire by purchase solely from funds provided under the authority of this part, or by gift or devise, such lands, structures, property, real or personal, rights, rights-of-way, franchises, easements, and other interests in lands, including lands lying under water and riparian rights, which are located within or without the state as it may deem necessary or convenient for the construction or operation of a project, upon such terms and at such prices as may be considered by it to be reasonable and can be agreed upon between it and the owner thereof, and to take title thereto in the name of the authority or in the name of a participating institution for higher education as its agent.
History.—s. 7, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.25 - Conveyance of title or interest to participating institutions.

243.25 Conveyance of title or interest to participating institutions.—When the principal of and interest on revenue bonds of the authority issued to finance the cost of a particular project or projects at a participating institution for higher education, including any revenue refunding bonds issued to refund and refinance such revenue bonds, have been fully paid and retired or when adequate provision has been made fully to pay and retire the same, and all other conditions of the resolution or trust agreement authorizing and securing the same have been satisfied and the lien of such resolution or trust agreement has been released in accordance with the provisions thereof, the authority shall promptly do such things and execute such deeds and conveyances as are necessary and required to convey title to such project or projects to such participating institution for higher education, free and clear of all liens and encumbrances, all to the extent that title to such project or projects shall not, at the time, then be vested in such participating institution for higher education.
History.—s. 8, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.26 - Notes of authority.

243.26 Notes of authority.—The authority is authorized from time to time to issue its negotiable notes for any corporate purpose and renew from time to time any notes by the issuance of new notes, whether the notes to be renewed have or have not matured. The authority may issue notes partly to renew notes or to discharge other obligations then outstanding and partly for any other purpose. The notes may be authorized, sold, executed and delivered in the same manner as bonds. Any resolution or resolutions authorizing notes of the authority or any issue thereof may contain any provisions which the authority is authorized to include in any resolution or resolutions authorizing revenue bonds of the authority or any issue thereof, and the authority may include in any notes any terms, covenants or conditions which it is authorized to include in any bonds. All such notes shall be payable solely from the revenues of the authority, subject only to any contractual rights of the holders of any of its notes or other obligations then outstanding.
History.—s. 9, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.28 - Security of bondholders.

243.28 Security of bondholders.—In the discretion of the authority any revenue bonds issued under the provisions of this part may be secured by a trust agreement by and between the authority and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without the state. Such trust agreement or the resolution providing for the issuance of such revenue bonds may pledge or assign the revenues to be received or proceeds of any contract or contracts pledged and may convey or mortgage the project or any portion thereof. Such trust agreement or resolution providing for the issuance of such revenue bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including particularly such provisions as have hereinabove been specifically authorized to be included in any resolution or resolutions of the authority authorizing revenue bonds thereof. Any bank or trust company incorporated under the laws of this state which may act as depository of the proceeds of bonds or of revenues or other moneys may furnish such indemnifying bonds or pledge such securities as may be required by the authority. Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee or trustees, and may restrict the individual right of action by bondholders. In addition to the foregoing, any such trust agreement or resolution may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of such trust agreement or resolution may be treated as a part of the cost of the operation of a project.
History.—s. 11, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.29 - Payment of bonds.

243.29 Payment of bonds.—Revenue bonds issued under the provisions of this part shall not be deemed to constitute a debt or liability of the state or of the county or a pledge of the faith and credit of the state or of any such county, but shall be payable solely from the funds herein provided therefor from revenues. All such revenue bonds shall contain on the face thereof a statement to the effect that neither the State of Florida nor the authority shall be obligated to pay the same or the interest thereon except from revenues of the project or the portion thereof for which they are issued and that neither the faith and credit nor the taxing power of the state or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds. The issuance of revenue bonds under the provisions of this part shall not directly or indirectly or contingently obligate the state or any political subdivision thereof to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment.
History.—s. 12, ch. 69-345; s. 1, ch. 77-174.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.31 - Trust funds.

243.31 Trust funds.—All moneys received pursuant to the authority of this part, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this part. Any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this act and the resolution authorizing the bonds of any issue or the trust agreement securing such bonds may provide.
History.—s. 14, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.32 - Remedies of bondholders.

243.32 Remedies of bondholders.—Any holder of revenue bonds issued under the provisions of this part or any of the coupons appertaining thereto, and the trustee or trustees under any trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, or any such trust agreement securing, such bonds, may, either at law or in equity, by suit, action, mandamus or other proceedings, protect and enforce any and all rights under the laws of the state or granted hereunder or under such resolution or trust agreement, and may enforce and compel the performance of all duties required by this part or by such resolution or trust agreement to be performed by the authority or by any officer, employee or agent thereof, including the fixing, charging and collecting of the rates, rents, fees and charges herein authorized and required by the provisions of such resolution or trust agreement to be fixed, established and collected.
History.—s. 15, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.33 - Tax exemption.

243.33 Tax exemption.—The exercise of the powers granted by this part will be in all respects for the benefit of the people of this state, for the increase of their commerce, welfare and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of a project by the authority or its agent will constitute the performance of an essential public function, neither the authority nor its agent shall be required to pay any taxes or assessments upon or in respect of a project or any property acquired or used by the authority or its agents under the provisions of this part or upon the income therefrom, and any bonds issued under the provisions of this part, their transfer, and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation of every kind by the state, the county and by the municipalities and other political subdivisions in the state. The exemption granted by this section shall not be applicable to any tax imposed by chapter 220 on interest, income or profits on debt obligations owned by corporations.
History.—s. 16, ch. 69-345; s. 7, ch. 73-327.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.35 - Legal investment.

243.35 Legal investment.—Bonds issued by the authority under the provisions of this part are hereby made securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such bonds are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the state for any purpose for which the deposit of bonds or obligations of the state is now or may hereafter be authorized by law.
History.—s. 18, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.36 - Reports.

243.36 Reports.—Within the first 90 days of each calendar year, the authority shall make a report to the governing body of the county of its activities for the preceding calendar year. Each such report shall set forth a complete operating and financial statement covering its operations during such year. The authority shall cause an audit of its books and accounts to be made at least once each year by certified public accountants and the cost thereof shall be paid by the authority from funds available to it pursuant to this part.
History.—s. 19, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.37 - State agreement.

243.37 State agreement.—The state does hereby pledge to and agree with the holders of any obligations issued under this part, and with those parties who may enter into contracts with an authority pursuant to the provisions of this part, that the state will not limit or alter the rights hereby vested in the authority until such obligations, together with the interest thereon, are fully met and discharged and such contracts are fully performed on the part of the authority, provided nothing herein contained shall preclude such limitation or alteration if and when adequate provision shall be made by law for the protection of the holders of such obligations of an authority or those entering into such contracts with an authority. An authority is authorized to include this pledge and undertaking for the state in such obligations or contracts.
History.—s. 20, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.38 - Alternate means.

243.38 Alternate means.—The foregoing sections of this part shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby, and shall be regarded as supplemental and additional to powers conferred by other laws; provided the issuance of revenue bonds and revenue refunding bonds under the provisions of this part need not comply with the requirements of any other law applicable to the issuance of bonds. Except as otherwise expressly provided in this part, none of the powers granted to the authority under the provisions of this part shall be subject to the supervision or regulation or require the approval or consent of any municipality or political subdivision or any commission, board, body, bureau, official or agency thereof or of the state.
History.—s. 21, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.39 - Liberal construction.

243.39 Liberal construction.—This part, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes hereof.
History.—s. 22, ch. 69-345.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part I - County Higher Educational Facilities Authorities Law (Ss. 243.18-243.40) › 243.40 - Provisions of part controlling.

243.40 Provisions of part controlling.—To the extent that the provisions of this part are inconsistent with the provisions of any general statute or special act or parts thereof, the provisions of this part shall be deemed controlling.
History.—s. 23, ch. 69-345; s. 1, ch. 77-174.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.50 - Short title.

243.50 Short title.—Sections 243.50-243.77 may be cited as the “Higher Educational Facilities Financing Act.”
History.—s. 1, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.51 - Findings and declarations.

243.51 Findings and declarations.—It is the purpose of ss. 243.50-243.77 to provide assistance and an alternative method for enabling private institutions of higher education in this state to provide the facilities and structures that they need and to enable those institutions to coordinate their budgetary needs with the timing of receipt of tuition revenues. The necessity of the public interest of the provisions hereinafter enacted is hereby declared as a matter of legislative determination.
History.—s. 2, ch. 2001-79; s. 1, ch. 2023-92.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.55 - Payment of expenses.

243.55 Payment of expenses.—All expenses incurred in carrying out ss. 243.50-243.77 are payable solely from funds provided under the authority of ss. 243.50-243.77, and the authority may not incur any liability or obligation beyond the extent to which moneys have been provided under ss. 243.50-243.77.
History.—s. 6, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.56 - Acquisition of real property.

243.56 Acquisition of real property.—The authority may directly, or by and through a participating institution as its agent, acquire by purchase or lease solely from funds provided under ss. 243.50-243.77, or by gift or devise, any lands, structures, real property, rights, rights-of-way, franchises, easements, and other interests in lands, including lands lying underwater and riparian rights, which are located within the state as it considers necessary or convenient for the construction or operation of a project, upon terms and at prices that are considered by it to be reasonable and that can be agreed upon between it and the owner thereof, and to take title thereto in the name of the authority or in the name of a participating institution as its agent or as an owner and borrower.
History.—s. 7, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.57 - Conveyance of title or interest to participating institutions.

243.57 Conveyance of title or interest to participating institutions.—When the principal of and interest on revenue bonds of the authority issued to finance the cost of a particular project or projects at a participating institution, including any revenue refunding bonds issued to refund and refinance the revenue bonds, have been fully paid and retired, or when adequate provision has been made to pay fully and retire them, and all other conditions of the resolution or trust agreement authorizing and securing the revenue bonds have been satisfied and the lien of the resolution or trust agreement has been released in accordance with the provisions thereof, the authority shall promptly execute deeds and conveyances necessary and required to convey title to the project or projects to the participating institution, free and clear of all liens and encumbrances.
History.—s. 8, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.58 - Criteria and requirements.

243.58 Criteria and requirements.—In undertaking any project under ss. 243.50-243.77, the authority shall be guided by and shall observe the following criteria and requirements:
(1) The project, in the determination of the authority, is appropriate to the needs and circumstances of, and shall make a significant contribution to the purposes of, the authority and ss. 243.50-243.77 as set forth in the findings and declarations, and shall serve a public purpose by advancing the prosperity and general welfare of the state and the public.
(2) A financing agreement for a project may not be entered into with a participating institution that is not, at the time such agreement is executed, financially responsible and fully capable of and willing to fulfill its obligations under the financing agreement, including the obligations to make payments in the amounts and at the times required; to operate, repair, and maintain at its own expense the project owned or leased; and to serve the purposes of ss. 243.50-243.77 and any other responsibilities that may be imposed under the financing agreement. In determining the financial responsibility of the participating institution, consideration will be given to the party’s ratio of current assets to current liabilities; net worth; endowments; pledges; earning trends; coverage of all fixed charges; the nature of the project involved; its inherent stability; any guarantee of the obligations by some other financially responsible corporation, firm, or person; means by which the bonds are to be marketed to the public; and other factors determinative of the capability of the participating institution, financially and otherwise, to fulfill its obligations consistently with the purposes of ss. 243.50-243.77.
(3) Adequate provision must be made for the operation, repair, and maintenance of the project at the expense of the participating institution and for the payment of principal of and interest on the bonds.
(4) The costs to be paid from the proceeds of the bonds are costs of a project within the meaning of ss. 243.50-243.77, except for payments included in the purposes for which revenue refunding bonds may be issued under ss. 243.50-243.77.
History.—s. 9, ch. 2001-79; s. 4, ch. 2023-92.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.59 - Approval required to issue bonds.

243.59 Approval required to issue bonds.—The authority is created for the purpose of promoting higher education and issuing bonds on behalf of the state, and the Governor may approve any bonds issued by the authority which require approval under federal law.
History.—s. 10, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.60 - Notes of authority.

243.60 Notes of authority.—The authority may issue its negotiable notes for any corporate purpose and renew any notes by the issuance of new notes, whether the notes to be renewed have or have not matured. The authority may issue notes partly to renew notes or to discharge other obligations then outstanding and partly for any other purpose. The notes may be authorized, sold, executed, and delivered in the same manner as bonds. Any resolution authorizing notes of the authority or any issue thereof may contain any provisions that the authority is authorized to include in any resolution authorizing revenue bonds of the authority or any issue thereof, and the authority may include in any notes any terms, covenants, or conditions that it is authorized to include in any bonds. All the notes must be payable solely from the revenues of the project to be financed, subject only to any contractual rights of the holders of any of its notes or other obligations then outstanding.
History.—s. 11, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.62 - Covenants.

243.62 Covenants.—Any resolution authorizing the issuance of bonds may contain any covenants the authority considers advisable, including those provisions set forth in s. 243.61(5), and all those covenants constitute valid and legally binding and enforceable contracts between the authority and the bondholders, regardless of the time of issuance thereof. The covenants may include, without limitation, covenants concerning the disposition of the bond proceeds; the use and disposition of project revenues; the pledging of revenues and assessments; the obligations of the authority with respect to the operation of the project and the maintenance of adequate project revenues; the issuance of additional bonds; the appointment, powers, and duties of trustees and receivers; the acquisition of outstanding bonds and obligations; restrictions on the establishment of competing projects or facilities; restrictions on the sale or disposal of the assets and property of the authority; the maintenance of deposits to assure the payment of the bonds issued under ss. 243.50-243.77; acceleration upon default; the execution of necessary instruments; the procedure for amending or abrogating covenants with the bondholders; and any other covenants considered necessary for the security of the bondholders.
History.—s. 13, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.63 - Validation.

243.63 Validation.—Bonds issued pursuant to this act may be validated in the manner provided by law through proceedings instituted by the authority under chapter 75. In actions to validate bonds to be issued pursuant to this act, the complaint shall be filed in the circuit court of the county where the seat of state government is situated or, in the discretion of the authority, in the circuit court of the county where the project is to be situated. The notice required to be published by s. 75.06 shall be published only in the county where the complaint is filed, and the complaint and order of the circuit court shall be served only on the state attorney of the circuit in which the action is pending.
History.—s. 14, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.64 - Act furnishes full authority for issuance of bonds.

243.64 Act furnishes full authority for issuance of bonds.—Sections 243.50-243.77 constitute full authority for the issuance of bonds and the exercise of the powers of the authority provided in ss. 243.50-243.77. Any bonds issued by the authority are not secured by the full faith and credit of the state and do not constitute an obligation, either general or special, of the state.
History.—s. 15, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.65 - Security of bondholders.

243.65 Security of bondholders.—In the discretion of the authority, any revenue bonds issued under ss. 243.50-243.77 may be secured by a trust agreement by and between the authority and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without the state. The trust agreement or the resolution providing for the issuance of revenue bonds may pledge or assign the revenues to be received or the proceeds of any contract or contracts pledged and may convey or mortgage the project or any portion thereof. The trust agreement or resolution providing for the issuance of revenue bonds may contain provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including particularly those provisions specifically authorized by ss. 243.50-243.77 to be included in any resolution of the authority authorizing revenue bonds. Any bank or trust company incorporated under the laws of this state or of any other state or the United States which may legally act as depository of the proceeds of bonds or of revenues or other moneys or security may furnish indemnifying bonds or pledge securities required by the authority, if any. Any trust agreement may set forth the rights and remedies of the bondholders and of the trustee or trustees, and may restrict the individual right of action by bondholders. In addition, any trust agreement or resolution may contain any other provisions the authority considers reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the trust agreement or resolution may be treated as a part of the cost of the operation of a project.
History.—s. 16, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.66 - Payment of bonds.

243.66 Payment of bonds.—Revenue bonds issued under ss. 243.50-243.77 are not a debt or liability of the authority, any municipality, the state, or any political subdivision thereof, and are not a pledge of the faith and credit of the state, the authority, any municipality, or any political subdivision thereof, but are payable solely from revenues of the authority pertaining to the project relating to the issue; payments by participating institutions of higher education, banks, insurance companies, or others under letters of credit or purchase agreements; investment earnings from funds or accounts maintained under the bond resolution; insurance proceeds; loan funding deposits; proceeds of sales of education loans; proceeds of refunding obligations; and fees, charges, and other revenues of the authority from the project. All revenue bonds must contain on the face thereof a statement to the effect that neither the authority nor any municipality, the state, or any political subdivision thereof is obligated to pay the bond or the interest thereon except from revenues of the project or the portion thereof for which they are issued, and that neither the faith and credit nor the taxing power of the authority, any municipality, the state, or any political subdivision thereof is pledged to the payment of the principal of or the interest on the bonds. The issuance of revenue bonds under ss. 243.50-243.77 may not directly, indirectly, or contingently obligate the authority, any municipality, the state, or any political subdivision thereof to levy or to pledge any form of taxation therefor or to make any appropriation for their payment.
History.—s. 17, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.68 - Trust funds.

243.68 Trust funds.—All moneys received under ss. 243.50-243.77, whether as proceeds from the sale of bonds or as revenues, are considered to be trust funds to be held and applied solely as provided in ss. 243.50-243.77. Any officer with whom, or any bank or trust company with which, the moneys are deposited shall act as trustee of the moneys and shall hold and apply them for the purposes of ss. 243.50-243.77, subject to the provisions of ss. 243.50-243.77 and the resolution authorizing the bonds of any issue or the trust agreement securing the bonds.
History.—s. 19, ch. 2001-79.
2023 Florida Statutes › Title XVI - Teachers' Retirement System; Higher Educational Facilities Bonds › Chapter 243 - Higher Educational Facilities Bonds › Part II - Higher Educational Facilities Financing (Ss. 243.50-243.77) › 243.69 - Remedies of bondholders.

243.69 Remedies of bondholders.—Any holder of revenue bonds issued under ss. 243.50-243.77 or any of the coupons appertaining thereto, and the trustee or trustees under any trust agreement, except to the extent the rights given may be restricted by any resolution authorizing the issuance of, or any such trust agreement securing, the bonds may, either at law or in equity, by suit, action, mandamus, or other proceedings, protect and enforce any rights under the laws of the state or granted hereunder or under the resolution or trust agreement, and may enforce and compel the performance of all duties required by ss. 243.50-243.77 or by the resolution or trust agreement to be performed by the authority or by any officer, employee, or agent thereof, including the fixing, charging, and collecting of the rates, rents, fees, and charges authorized and required by the provisions of the resolution or trust agreement to be fixed, established, and collected.
History.—s. 20, ch. 2001-79.