reglab/statecodes huggingface dataset:
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.03 - Interest; Maturity; Payment; Right to Redeem in Advance.

132.03 Interest; maturity; payment; right to redeem in advance.—Such resolution or resolutions shall determine the rate or rates of interest to be paid, not exceeding 7.5 percent per annum, payable annually or at shorter intervals, and the maturity or maturities of the bonds which shall be at a time or times not exceeding 60 years from the date of the bonds (except that in the issuance of bonds of taxing districts where the maturities are fixed under the Constitution, then such maturities shall be in accordance with the maturities fixed in the constitutional provision), as well as determine the medium of payment and the place or places in Florida or any other state at which the principal and interest shall be payable. In the discretion of the governing body the right to redeem all or any of the bonds at par before maturity may be reserved upon terms and conditions to be fixed by resolution.
History.—s. 3, ch. 15772, 1931; CGL 1936 Supp. 2383(3); s. 2, ch. 73-302.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.04 - Redemption Before Maturity.

132.04 Redemption before maturity.—Any such unit may obligate itself to redeem any or all of the refunding bonds before maturity on such terms and conditions as the resolution authorizing such bonds may determine. Bonds subject to redemption shall state the manner of giving notice of intention to redeem (which may be by publication without actual notice), and when such notice has been given such bonds shall not bear interest after the date fixed in such notice of redemption, nor shall coupons maturing thereafter be valid; provided that adequate funds for their redemption shall have been provided and set aside by such unit.
History.—s. 4, ch. 15772, 1931; CGL 1936 Supp. 2383(4).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.05 - Form; Execution; Delivery.

132.05 Form; execution; delivery.—The refunding bonds herein provided for may be issued in registered form, or may be coupon bonds with the privilege of registration either as to principal only or as to both principal and interest, and shall be executed in the manner and by the officials provided in the resolution authorizing same. Except one signature on each bond, the signatures on the bonds and coupons may be facsimile signatures. Bonds and coupons duly executed by officials then in office may be negotiated and delivered after such officials have ceased to hold such office. The authentication or certificate of a registrar may be required on the bonds.
History.—s. 5, ch. 15772, 1931; CGL 1936 Supp. 2383(5).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.06 - Separate Series of Bonds; Rates of Interest.

132.06 Separate series of bonds; rates of interest.—One resolution may provide for several separate series of refunding bonds. Each of such series and separate bonds of the same series may have different terms and provisions from the others. The same bonds may bear different rates of interest at different times. Bonds issued for the purpose of refunding accrued interest may be non-interest-bearing or may bear a lower rate than other bonds of the same series as may be provided in the resolution.
History.—s. 6, ch. 15772, 1931; CGL 1936 Supp. 2383(6).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.07 - Maturity Date.

132.07 Maturity date.—Such resolution may provide that all or any part of the bonds issued thereunder shall mature in annual installments beginning at such time after date and running to such time, not longer than 60 years after date as said resolution may provide.
History.—s. 7, ch. 15772, 1931; CGL 1936 Supp. 2383(7).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.08 - Exchange of Bonds.

132.08 Exchange of bonds.—Bonds issued under this chapter may be exchanged for not less than an equal principal amount and accrued interest of indebtedness to be retired thereby, including indebtedness not yet due, if the same be then redeemable or if the holders thereof be willing to surrender the same for retirement, but otherwise shall be sold and the proceeds thereof shall be applied to the payment of such indebtedness and accrued interest due or redeemable which may be so surrendered.
History.—s. 8, ch. 15772, 1931; CGL 1936 Supp. 2383(8).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.09 - Sale of Bonds.

132.09 Sale of bonds.—When sold, the refunding bonds (except as otherwise expressly provided) shall be sold in the manner provided in s. 218.385.
History.—s. 9, ch. 15772, 1931; CGL 1936 Supp. 2383(9); s. 11, ch. 2004-305.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.11 - Amount of Refunding Bonds to Be Sold.

132.11 Amount of refunding bonds to be sold.—In case of refunding bonds which are not exchanged for bonds outstanding but are sold, only such amount thereof shall be delivered as is necessary to provide for the payment of matured bonds and legally accrued interest and of such unmatured bonds as the holders thereof have agreed in writing to surrender upon payment of a sum not exceeding par and legally accrued interest.
History.—s. 11, ch. 15772, 1931; CGL 1936 Supp. 2383(11).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.12 - Exchange Without Notice.

132.12 Exchange without notice.—In the case of refunding bonds which are exchanged for bonds outstanding and are not sold, such exchange may be made by the unit without the requirement of the publication of any notice thereof.
History.—s. 12, ch. 15772, 1931; CGL 1936 Supp. 2383(12).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.13 - Delivery of Bonds Sold.

132.13 Delivery of bonds sold.—In case of refunding bonds which are not exchanged for bonds outstanding but are sold, they shall not be delivered until payment in full has been received therefor. Pursuant to agreement between unit and purchaser made either before or after the sale of the bonds, the bonds may be delivered in deferred installments and the total purchase price shall be divided and paid on the installments as may be agreed, but delivery shall not be deferred more than 1 year after the sale.
History.—s. 13, ch. 15772, 1931; CGL 1936 Supp. 2383(13).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.14 - Exchange in Lieu of Sale.

132.14 Exchange in lieu of sale.—As hereinbefore provided the refunding bonds instead of being sold may be exchanged for bonds or for interest on bonds or interest on overdue interest on bonds to refund which they are issued. The principal and accrued interest of the refunding bonds shall not exceed the amount of the obligations refunded.
History.—s. 14, ch. 15772, 1931; CGL 1936 Supp. 2383(14).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.15 - Provision for Conditional Increase of Rate of Interest.

132.15 Provision for conditional increase of rate of interest.—If the refunding bonds bear a lower rate of interest than the bonds for which they are exchanged, either the resolution authorizing the bonds or the refunding bonds themselves may provide that the refunding bonds shall bear the lower rate of interest only so long as the unit shall not be in default of any agreement or obligations to the holders and that after any such default, or at the option of the holders after any such default, the refunding bonds shall bear the same rate of interest as the bonds for which they were exchanged. The unit may impose limitations on the right to exercise such option, and may provide that the option may only be exercised after a period of default, or by the holders of a certain amount or proportion of bonds, all as provided in the said resolution or in the refunding bonds, and if the right to the higher interest accrues may agree to substitute new bonds and coupons bearing such higher interest.
History.—s. 15, ch. 15772, 1931; CGL 1936 Supp. 2383(15).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.16 - Sinking Fund.

132.16 Sinking fund.—The resolution authorizing the refunding bonds may contain an agreement on the part of the unit to provide a sinking fund for such bonds, and said resolution may provide for payments of such sinking fund, the investment thereof, the administration thereof, and the application thereof to the payment, purchase and redemption of the refunding bonds.
History.—s. 16, ch. 15772, 1931; CGL 1936 Supp. 2383(16).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.17 - Pledge of Anticipated Revenues.

132.17 Pledge of anticipated revenues.—The resolution authorizing refunding bonds may assign, pledge, or set aside as a trust for the payment of principal or interest of refunding bonds or for a sinking fund for the bonds, subject to prior liens or contract obligations, and on, or subject to, such terms and conditions as may be stated, any unpaid taxes or assessments whether due or to grow due, and any revenues due or to grow due, or proceeds of sale of improvements or properties of the unit. The resolution authorizing the bonds may contain agreement to collect and pay over the moneys derived from such source.
History.—s. 17, ch. 15772, 1931; CGL 1936 Supp. 2383(17).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.18 - Pledge of Fixed Portion of Revenues.

132.18 Pledge of fixed portion of revenues.—The resolution authorizing the refunding bonds may pledge to the payment of principal and interest of such refunding bonds or to a sinking fund for the bonds, a fixed proportion, or a proportion to be determined from time to time as provided in said resolution, of the moneys from time to time collected either by taxation of any kind, whether upon real or personal property, or collected from other revenues or receipts of the unit, and such resolution may provide that the said fixed proportion or the proportions so determined out of each dollar collected by the unit shall be applied to the payment of the principal or interest of the refunding bonds, or be paid into or set aside as a sinking fund for the bonds.
History.—s. 18, ch. 15772, 1931; CGL 1936 Supp. 2383(18).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.19 - Priority of Payment of Refunding Bonds.

132.19 Priority of payment of refunding bonds.—The resolution authorizing the bonds may provide that the unit shall first set aside out of the tax collections the amount required in any year for the payment of principal and interest of refunding bonds and for the sinking fund for the bonds, before any tax collections shall be set aside or applied to the payment of any bonds of the unit that may thereafter be issued, except bonds thereafter issued to pay or refund bonds then outstanding.
History.—s. 19, ch. 15772, 1931; CGL 1936 Supp. 2383(19).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.20 - Proportionate Taxes for Sinking Fund.

132.20 Proportionate taxes for sinking fund.—The resolution authorizing the refunding bonds may provide that in addition to all other amounts to be paid into a sinking fund for such bonds, such sums shall be levied, assessed and collected for such sinking funds as bear a stated proportion of taxes of any kind which are imposed or collected for all purposes other than the payment of refunding bonds issued pursuant to this chapter, so that for every dollar of tax imposed or collected for all such purposes a stated amount shall be imposed for the said sinking fund.
History.—s. 20, ch. 15772, 1931; CGL 1936 Supp. 2383(20).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.21 - Pledge of Special Assessments.

132.21 Pledge of special assessments.—In the discretion of the governing board there may be pledged to the payment of any or all such bonds the collections or proceeds of any or all uncollected special assessments, subject, however, to any other outstanding pledge of such assessment previously made.
History.—s. 21, ch. 15772, 1931; CGL 1936 Supp. 2383(21).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.22 - Levy of Ad Valorem Tax for Payment of Bonds.

132.22 Levy of ad valorem tax for payment of bonds.—
(1) In each year while any of the bonds shall be outstanding there shall be levied by or under the authority of the governing board upon all taxable property in the unit, an ad valorem tax sufficient to pay the interest and principal of such refunding bonds and any sinking funds which may be provided for by the bonds, or by the proceedings authorizing the sale, provided, however, that when there shall be in any fund or funds provided for such bonds, interest and sinking fund, an amount exceeding the amount at that time required for such fund or funds, the ad valorem tax required by this section for the current year may be reduced in the amount of such excess.
(2) It is expressly provided that in the case of taxing districts where bonds have been issued and are outstanding, which bonds are payable exclusively out of special assessments levied for the payment of such bonds, that no authority to levy an ad valorem tax upon the property of such taxing district shall be conferred or exist under this chapter, unless the same shall be duly authorized or approved by the affirmative vote of a majority of the taxpayers who are the owners of freeholds in said unit not wholly exempt from taxation voting at an election called and held under the provisions of law relating to the issuance of bonds under s. 12, Art. VII of the State Constitution and such election shall be called within 60 days after the governing body of such taxing district shall receive a petition requesting the same signed by a number of owners of freeholds not wholly exempt from taxation equal to 25 percent of the qualified electors who are owners of such freeholds residing in such district and by the holder or holders of a majority in amount of the bonds or outstanding indebtedness to be refunded, but nothing in this chapter shall preclude the issuance of refunding bonds under this chapter when such refunding bonds are issued and are provided to be supported by the proceeds of special assessments of the same kind and character as were provided for the issue which is refunded.
History.—s. 22, ch. 15772, 1931; CGL 1936 Supp. 2383(22); s. 15, ch. 69-216.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.23 - Tax by Municipalities; Bonds to Constitute General Obligations; Debt Limit Inapplicable.

132.23 Tax by municipalities; bonds to constitute general obligations; debt limit inapplicable.—
(1) In case of refunding bonds issued by municipalities it shall be the duty of the governing board of the municipality charged by law with determining and fixing the amount of general property taxes for any fiscal year of the municipality, to ascertain the amount of:
(a) Principal and interest of refunding bonds due in such year for which moneys are not in hand.
(b) Principal and interest of refunding bonds due prior to such year and which are then or will be in default in such year, together with interest thereon.
(c) Sinking fund payments due in such year or due prior to such year and which are then or will be in default in such year.
(d) Such additional sum as may be necessary to make up for the estimated failure to collect taxes in such year.
(2) The said governing body of the municipality shall determine and fix the total of said sums as the amount to be raised by tax in addition to all other taxes for said fiscal year. The said amount shall thereupon be apportioned against, and levied and assessed on, all property subject to taxation in the manner provided by law, for taxes for other purposes in the municipalities and shall be collected and applied to such purpose by the official of the municipality charged by law with duty of apportioning, levying, assessing, collecting and applying taxes for other purposes.
(3) The refunding bonds issued in pursuance of this chapter by municipalities shall be general and unlimited obligations of the municipalities and the full faith and credit of the municipality is hereby irrevocably pledged for their payment. The municipality and each and every official and governing board thereof shall levy, assess, apportion and collect on and from all taxable real and personal property in the municipality such taxes as shall be sufficient to pay the interest and principal of the refunding bonds as they become due and payable.
(4) No other section of this chapter or of any other law, or of any agreement or resolution made by the municipality shall be construed to limit or restrict the powers or obligations of the municipality under this chapter and the provisions of any resolution of the municipality made pursuant to this chapter shall be construed as supplemental hereto for the greater protection of the refunding bonds, and shall not be construed as limiting or restricting the application of this section.
(5) All refunding bonds issued pursuant to the provisions of this chapter shall not be subject to any limitation or indebtedness prescribed by any statutes, charter or other special act relating to the municipality.
History.—s. 23, ch. 15772, 1931; CGL 1936 Supp. 2383(23).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.24 - Elections, Notice, Etc.

132.24 Elections, notice, etc.—Any election which may be held to determine whether any such refunding bonds shall be issued, if required by the Constitution of the state, shall be called, noticed and conducted, and the result thereof determined and declared as shall have been or may be required by law for the issuance of any bonds of the unit proposing to issue the bonds herein authorized; but if an election be not required by the Constitution and nevertheless be held, it may be called, noticed and conducted, and the result thereof determined and declared, in such manner as the governing body may provide by resolution. It shall not be necessary to hold any election for the issuance of any refunding bond, except in those cases in which an election is required by the Constitution of the state.
History.—s. 24, ch. 15772, 1931; CGL 1936 Supp. 2383(24).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.25 - Creation and Maintenance of Sinking Fund.

132.25 Creation and maintenance of sinking fund.—The governing authority of any unit in contracting for the sale of any bonds may provide for the creation and maintenance of the necessary sinking fund out of proceeds of sales of lands, and levy of taxes, and proceeds of mortgages.
History.—s. 25, ch. 15772, 1931; CGL 1936 Supp. 2383(25).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.26 - Chapter Supplemental and Additional.

132.26 Chapter supplemental and additional.—This chapter is intended as a supplemental and additional grant of power to each and all the various units of the state as hereinabove defined and shall apply as well to all municipalities whether heretofore or hereafter incorporated either under general or special act, and shall not supplant or repeal any existing powers for the issuance of funding or refunding bonds or any provisions of law of bonds issued under such powers, or for the custody of moneys provided for such payment, but shall nevertheless repeal all laws and parts of laws, general or special, so far as the same may be inconsistent with the complete exercise of any and all powers herein granted or may deny the right to exercise any power herein granted as to the levy of taxes upon all taxable property of such unit or as to the custody of moneys provided for the payment of bonds or as to any other thing.
History.—s. 26, ch. 15772, 1931; CGL 1936 Supp. 2383(26).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.27 - Chapter Complete Within Itself.

132.27 Chapter complete within itself.—This chapter constitutes full authority for the things herein authorized, and no proceedings, publications, notices, consents or approval shall be required for the doing of the things herein authorized except as are herein prescribed and required. This chapter shall be deemed complete within itself, except insofar as other laws are specifically made applicable, nor shall powers hereby granted be restricted or limited by any other law.
History.—s. 27, ch. 15772, 1931; CGL 1936 Supp. 2383(27).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.28 - Chapter Applicable to School Districts.

132.28 Chapter applicable to school districts.—In the event that any school district shall be authorized by the Constitution and laws of this state to legally issue refunding bonds the provisions of this chapter shall be deemed to apply to such school district.
History.—s. 29, ch. 15772, 1931; CGL 1936 Supp. 2383(28).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.29 - Validation.

132.29 Validation.—Refunding bonds provided to be issued under this chapter shall be subject to validation and judicial proceedings in like manner and with like force and effect as bonds generally are provided to be validated by judicial proceedings under the laws of this state.
History.—s. 30, ch. 15772, 1931; CGL 1936 Supp. 2383(29).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.30 - Chapter Applicable to All Taxing Districts.

132.30 Chapter applicable to all taxing districts.—This chapter shall apply to taxing districts of every character and description provided for under the general or special laws of this state, whether consisting of portions of a county or of territory located in more than one county.
History.—s. 31, ch. 15772, 1931; CGL 1936 Supp. 2383(30).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.31 - No Other Proceedings Required.

132.31 No other proceedings required.—No proceedings shall be required to be taken as to the issuance of any refunding bonds under this chapter except those prescribed by this chapter, any provisions of any other laws, general or special, to the contrary notwithstanding.
History.—s. 33, ch. 15772, 1931; CGL 1936 Supp. 2383(32).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.32 - Replacement of Bonds.

132.32 Replacement of bonds.—In case any coupon bonds and the coupons thereunto appertaining, or any registered bonds, shall become mutilated or be destroyed, a new bond shall be prepared at the expense of the applicant, and be executed and delivered, of like tenor, amount, date and series in exchange and substitution for the mutilated or destroyed bond or coupons. In case of destruction the applicant for a substituted bond shall furnish to the unit satisfactory evidence of its destruction and shall also give such security and indemnity as may be required for it.
History.—s. 34, ch. 15772, 1931; CGL 1936 Supp. 2383(33).
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.36 - Refunding Bond Resolution; Form and Contents.

132.36 Refunding bond resolution; form and contents.—
(1) The issuance of general obligation refunding bonds shall be authorized by a refunding bond resolution. Each such resolution shall contain, in substance, at least the following:
(a) The maximum principal amount of general obligation refunding bonds authorized to be issued pursuant thereto.
(b) A determination that such maximum principal amount of general obligation refunding bonds does not exceed the limitation imposed by s. 132.35.
(c) Identification of the outstanding general obligation bonds to be refunded.
(d) The financial plan for the refunding proposed, showing the sources and amounts of all moneys required to accomplish such refunding; containing an estimate of the present value of the total debt service savings anticipated, computed in accordance with s. 132.35(2); and containing a statement that the general obligation refunding bonds will bear a lower net average interest cost rate than the general obligation bonds to be refunded.
(2) Without the assent of the electors, the refunding bond resolution may pledge to the payment of principal and interest of general obligation refunding bonds or to a sinking fund for such bonds only:
(a) Such revenue or other security as is pledged to the payment of the general obligation bonds to be refunded;
(b) To the extent required by the refunding financial plan, all or a portion of the principal of and the interest on the moneys held in escrow by the escrow agent; and
(c) Such other revenue or security as may otherwise be pledged by the unit without assent of the electors for and toward the payment of its general obligation bonds.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.37 - Levy of Ad Valorem Tax for Payment of General Obligation Refunding Bonds.

132.37 Levy of ad valorem tax for payment of general obligation refunding bonds.—In each fiscal year while any general obligation refunding bonds shall be outstanding there shall be levied, by or under the authority of the governing body upon all taxable property in the unit, an ad valorem tax sufficient to pay the interest and principal of such general obligation refunding bonds and any sinking funds which may be provided for by the general obligation refunding bonds or by the proceedings authorizing the sale thereof. However, when there shall be in any fund or funds provided for such general obligation refunding bonds, or any interest or sinking fund, any amount exceeding the amount at that time required for such fund or funds, the ad valorem tax required by this section for the then-current fiscal year may be reduced in the amount of such excess.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.38 - Sale of General Obligation Refunding Bonds.

132.38 Sale of general obligation refunding bonds.—General obligation refunding bonds shall be sold in the manner provided in s. 218.385 and at an interest rate not to exceed the maximum interest rate set forth in s. 215.84.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.39 - Certification of Debt Service Savings.

132.39 Certification of debt service savings.—No general obligation refunding bonds shall be issued pursuant to s. 132.35 unless the chief financial officer of the unit, or such other official as may be designated by the governing body, shall have first filed with the governing body of the unit a certificate, which shall be final and conclusive upon all parties:
(1) Setting forth the present value of the total debt service savings which will result from the issuance of the general obligation refunding bonds computed in accordance with the provisions of s. 132.35; and
(2) Demonstrating mathematically that the general obligation refunding bonds are issued at a lower net average interest cost rate than the net average interest cost rate borne by the general obligation bonds to be refunded.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.40 - Notice to Holders of General Obligation Bonds to Be Redeemed; Covenant With Holders of General Obligation Refunding Bonds.

132.40 Notice to holders of general obligation bonds to be redeemed; covenant with holders of general obligation refunding bonds.—
(1) Prior to the issuance of general obligation refunding bonds, the governing body of the unit shall adopt a resolution electing to call and redeem such portion of the general obligation bonds to be refunded as is to be called for payment prior to the date of their maturity in accordance with the refunding financial plan. The resolution adopted pursuant to this subsection shall authorize and direct the escrow agent, in the name of the unit, to cause notice of such call for redemption to be given as required by law and the terms of the bonds to be refunded.
(2) Upon the issuance of the refunding bonds, the election to call and redeem all or a portion of the general obligation bonds to be refunded and the direction to the escrow agent to cause notice thereof to be given contained in the resolution adopted pursuant to subsection (1) shall become irrevocable, and the provisions of such resolution shall constitute a contract with the holders of general obligation bonds to be refunded and the general obligation refunding bonds.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.41 - Duties and Obligations of Escrow Agent.

132.41 Duties and obligations of escrow agent.—The chief financial officer of the unit, or such other official as the governing body shall designate, prior to the issuance of general obligation refunding bonds, shall notify the escrow agent of its appointment and of the intention of the unit to issue general obligation refunding bonds and, on behalf of the unit, shall enter into an escrow agreement with the escrow agent in respect of the escrowing of the proceeds, inclusive of any premium, from the sale of such general obligation refunding bonds, together with all income derived from the investment of such proceeds, and any other moneys to be provided by the unit to effectuate the refunding financial plan. Each escrow agreement shall contain such terms and conditions as shall be necessary in order to accomplish the refunding financial plan, including, without limiting the generality of the foregoing, provisions for the escrow agent, without further authorization or direction from the unit, except as otherwise provided therein:
(1) To make all required payments of principal, interest, and redemption premium to the appropriate paying agent with respect to either the general obligation bonds to be refunded or the general obligation refunding bonds;
(2) To pay the refunding expenses;
(3) At the appropriate time or times to cause to be given on behalf of the unit such notice or notices of redemption, if any, authorized to be given in respect of the general obligation bonds to be refunded; and
(4) To invest the moneys held by it in accordance with the refunding financial plan and the direction of the chief financial officer of the unit. Each escrow agreement shall be irrevocable and shall constitute a covenant with the holders of the general obligation refunding bonds and the general obligation bonds to be refunded to which it relates.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.42 - Investment of Escrow Funds.

132.42 Investment of escrow funds.—Funds held in escrow by the escrow agent under an escrow agreement entered into pursuant to s. 132.41 may be held uninvested or may be invested only in direct obligations of the United States of America or in obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, which obligations shall mature or be subject to redemption at the option of the holder thereof in such amounts and on such dates as funds will be required to make payments in accordance with the refunding financial plan. Any moneys remaining in the custody of the escrow agent after the full satisfaction of all obligations to be paid from moneys held in escrow by the escrow agent under the escrow agreement shall be returned to the unit and, if any general obligation refunding bonds remain outstanding, shall be applied by the unit to the payment of the principal of or interest on such general obligation refunding bonds.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.43 - Pledge and Use of Proceeds of General Obligation Refunding Bonds.

132.43 Pledge and use of proceeds of general obligation refunding bonds.—That portion of such proceeds from the sale of general obligation refunding bonds, together with any other moneys placed in escrow by the unit and together with interest earned thereon, which shall be required for the payment of the principal of and interest on general obligation bonds to be refunded or the general obligation refunding bonds, in accordance with the refunding financial plan, shall be irrevocably committed and pledged to such purpose and the holders of such general obligation bonds to be refunded or such general obligation refunding bonds, respectively, shall have a lien upon such moneys and the investments thereof. The pledges and liens provided for in this section shall become valid and binding upon the issuance of the general obligation refunding bonds and the moneys and investments held by the escrow agent shall immediately be subject thereto without any further act. Such pledges and liens shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the unit irrespective of whether such parties have notice thereof. Neither the refunding bond resolution, the escrow agreement, nor any other instrument relating to such pledges and liens need be filed or recorded.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.44 - Powers in Addition to Other Powers Granted.

132.44 Powers in addition to other powers granted.—The powers granted by ss. 132.33-132.47 to issue general obligation refunding bonds shall be deemed to be in addition to the provisions of ss. 132.01-132.32, and in addition to any other powers or authority provided by law. Sections 132.33-132.47 constitute full authority for the things herein authorized, and no proceedings, publications, notices, consents, or approval shall be required for the doing of the things herein authorized, except as are herein prescribed and required. Sections 132.33-132.47 shall be deemed complete within themselves, except insofar as other laws are expressly made applicable, and the powers hereby granted shall not be restricted or limited by any other law.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.45 - Recital in General Obligation Refunding Bonds.

132.45 Recital in general obligation refunding bonds.—All general obligation refunding bonds issued pursuant to ss. 132.33-132.47 shall contain a recital that they are issued pursuant to ss. 132.33-132.47.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.46 - Effect of Invalidity or Irregularity in Prior Proceedings.

132.46 Effect of invalidity or irregularity in prior proceedings.—The authority herein granted to authorize the issuance of general obligation refunding bonds shall in no way be affected by the invalidity of or any irregularity in any proceedings authorizing the issuance of the general obligation bonds to be refunded, except that general obligation refunding bonds shall not be issued to refund bonds theretofore adjudged invalid by the final judgment of a court of competent jurisdiction.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 132 - General Refunding Law › 132.47 - Sections 132.33-132.47 Applicable to School Districts.

132.47 Sections 132.33-132.47 applicable to school districts.—In the event that any school district is or shall be authorized by the constitution and laws of this state to issue general obligation refunding bonds, the provisions of ss. 132.33-132.47 shall apply to such school district.
History.—s. 1, ch. 86-181.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 136 - County Depositories › 136.01 - County Depositories.

136.01 County depositories.—Each county depository shall be a qualified public depository as defined in s. 280.02 for the following funds: county funds; funds of all county officers, including constitutional officers; funds of the school board; and funds of the community college district board of trustees. This enumeration of funds is made not by way of limitation, but of illustration; and it is the intent hereof that all funds of the county, the board of county commissioners or the several county officers, the school board, or the community college district board of trustees be included.
History.—s. 2, ch. 6932, 1915; RGS 1559; s. 1, ch. 8527, 1921; CGL 2404; s. 1, ch. 14691, 1931; s. 1, ch. 19549, 1939; s. 7, ch. 24337, 1947; s. 10, ch. 26484, 1951; s. 1, ch. 59-23; s. 1, ch. 69-300; s. 1, ch. 80-151; s. 4, ch. 81-285; s. 5, ch. 98-409.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 136 - County Depositories › 136.03 - County Funds to Be Paid Into Depositories; Triplicate Receipts to Be Issued.

136.03 County funds to be paid into depositories; triplicate receipts to be issued.—Tax collectors and all other persons having, receiving, or collecting any money payable to the county funds not otherwise provided for, shall pay the same to the depositories qualified to receive the same. Each depository receiving any money, as provided in this chapter, shall make receipt for same in triplicate, one copy of which the depository will carefully preserve and keep, one copy to be given to the person from whom the money was received, and one copy to be given to the board for which the money was received.
History.—s. 4, ch. 6932, 1915; RGS 1561; CGL 2406; s. 5, ch. 81-285.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 136 - County Depositories › 136.04 - Depositories to Keep Demand and Time Deposits Separate; How Interest on Deposits Credited.

136.04 Depositories to keep demand and time deposits separate; how interest on deposits credited.—Each bank acting as a depository shall keep all daily balance accounts which are subject to immediate checking, in an account or accounts separate from all savings or time deposit accounts. Funds in a saving or time deposit account shall not be subject to check without being transferred to the checking account by order of the board or officer having control of the same. Each board or officer at all times may transfer money from one of the classes or types of accounts to another. Interest shall be paid by depositories receiving savings or time deposit accounts at such rate or rates as may be agreed upon with respect to such savings or time deposit accounts by the depository and the board or officer having control of such account. All interest earned on any of such deposits shall be credited to the account and fund on which it was earned, and all interest shall be computed and credited quarterly.
History.—s. 5, ch. 6932, 1915; RGS 1562; s. 2, ch. 8527, 1921; CGL 2407; s. 3, ch. 59-23; s. 6, ch. 81-285.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 136 - County Depositories › 136.06 - Withdrawal of Funds From Depositories; Direct Deposit; Transfer of Funds.

136.06 Withdrawal of funds from depositories; direct deposit; transfer of funds.—
(1) All money drawn from any depository qualified under the provisions of this chapter shall be upon a check or warrant issued by the board or officer drawing the same, said check or warrant, both as to number and amount, person to whom drawn and purpose for which drawn shall be recorded in the minutes of the board having ordered the same drawn, and each check or warrant so drawn shall be signed by the chair of said board, attested by the clerk or secretary of said board with the corporate seal thereof affixed; however, money under the control of any school board may be withdrawn as may be otherwise provided by law.
(2) For the purpose of providing for the direct deposit of funds under the circumstances herein specified, each board or county officer authorized by law to issue checks or warrants for the withdrawal of money from a depository qualified under the provisions of this chapter is authorized to establish the form or forms of warrants for the withdrawal, payment, or disbursement of money out of such qualified depository and to change the form thereof from time to time as such board or officer deems appropriate. If authorized in writing by the payee, such warrants may provide for direct deposit of the funds to the account of the payee in any financial institution which is designated in writing by the payee and which has lawful authority to accept such deposits. The written authorization of the payee shall be filed with the appropriate board or county officer. Direct deposit of funds may be by any electronic or other medium approved by such board or officer for such purpose.
(3) Notwithstanding any other provision of law, each board or county officer who has the authority to deposit or withdraw funds is authorized to transfer funds from one depository to another or within a depository or to another institution, and may transfer funds wherein the transfer does not represent an expenditure, advance, or reduction of cash assets. Such transfer may be made by electronic, telephonic, or other medium; and each transfer shall be confirmed in writing and signed by the designee of the board or officer.
History.—s. 7, ch. 6932, 1915; RGS 1564; CGL 2409; s. 4, ch. 59-23; s. 1, ch. 69-300; s. 6, ch. 78-406; s. 1, ch. 82-104; s. 835, ch. 95-147.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 136 - County Depositories › 136.08 - Accounts Subject to Examination by Authorized Persons.

136.08 Accounts subject to examination by authorized persons.—The accounts of each and every board and the county accounts of each and every depository, mentioned or provided for in this chapter, shall at all times be subject to the inspection and examination by the county auditor and by the Auditor General.
History.—s. 9, ch. 6932, 1915; RGS 1566; CGL 2411; s. 8, ch. 69-82; ss. 12, 35, ch. 69-106; s. 3, ch. 79-309; s. 7, ch. 81-285.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 136 - County Depositories › 136.091 - Exemption for County Self-Insurance Programs.

136.091 Exemption for county self-insurance programs.—A board of county commissioners is authorized to contract with an approved service organization to provide self-insurance services, including, but not limited to, the evaluation, settlement, and payment of self-insurance claims on behalf of the board. Pursuant to such contract, the board may advance money to the service organization to be deposited in a special checking account for paying claims against the board under its self-insurance program. The special checking account shall be maintained in a county depository pursuant to this chapter. The board may replenish such account as often as necessary upon the presentation by the service organization of documentation for claims paid equal to the amount of the requested reimbursement. Such replenishment shall be made by a warrant signed by the chair of the board and attested by the clerk or secretary of the board.
History.—s. 4, ch. 80-285; s. 836, ch. 95-147.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 137 - Bonds of County Officers › 137.01 - Bonds Required by the Board of County Commissioners for County Officers.

137.01 Bonds required by the board of county commissioners for county officers.—Each board of county commissioners may by ordinance require any county officer to give bond, conditioned for the faithful performance of the duties of his or her office. The amount of the bond and the bond must be approved by the board of county commissioners. In determining the amount of the bond, the board of county commissioners may consider the amount of money or property likely to be in custody of the county officer at any one time. The bond of each of the county officers of whom a bond is required must be filed with the clerk of the circuit court.
History.—s. 1, ch. 3724, 1887; RS 616; GS 822; RGS 1568; CGL 2416; ss. 10, 12, 35, ch. 69-106; s. 837, ch. 95-147; s. 28, ch. 95-312; s. 20, ch. 98-34.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 137 - Bonds of County Officers › 137.03 - Bond of Property Appraisers.

137.03 Bond of property appraisers.—The county property appraiser shall give a bond as required by the board of county commissioners. In fixing the amount of the bond, the board of county commissioners may consider the amount of money likely to be in the custody of the property appraiser at any one time.
History.—s. 7, ch. 3724, 1887; s. 1, ch. 3844, 1889; RS 618, 619; GS 824; RGS 1570; CGL 2418; s. 1, ch. 28294, 1953; s. 3, ch. 73-47; s. 1, ch. 77-102; s. 22, ch. 98-34.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 137 - Bonds of County Officers › 137.04 - County Commissioners to Give Bond.

137.04 County commissioners to give bond.—Each county commissioner, whether elected or appointed to such office, must give a bond conditioned for the faithful performance of the duties of his or her office as required by the board of county commissioners. The premium of the bonds given must be paid out of the county treasury.
History.—s. 1, ch. 6477, 1913; RGS 1571; CGL 2419; ss. 12, 35, ch. 69-106; s. 838, ch. 95-147; s. 30, ch. 95-312; s. 23, ch. 98-34.
2023 Florida Statutes › Title XI - County Organization and Intergovernmental Relations › Chapter 137 - Bonds of County Officers › 137.05 - Duty of Boards of County Commissioners.

137.05 Duty of boards of county commissioners.—The board of county commissioners of each county shall at its regular meetings in January and June of each year examine carefully as to the sufficiency of bonds of the county officers, and if it has reason to believe that the sufficiency of any bond has become impaired, it must at once require the officer to execute and file with the proper officer a new bond for the same amount and under the same conditions as his or her former bond.
History.—s. 2, ch. 4413, 1895; GS 825; RGS 1572; CGL 2420; s. 839, ch. 95-147; s. 24, ch. 98-34.