Opinion ID: 1690825
Heading Depth: 1
Heading Rank: 5

Heading: Compliance with Requirements of Law

Text: Finally, this Court must determine whether the issuance of the bonds comports with the requirements of the law. Chapter 75 of the Florida Statutes sets forth the procedure counties must follow in issuing and validating bonds and it does not appear from the record in this case that the County deviated from these requirements. The County approved by Ordinance the assessment of a one percent tourist tax for the purpose of paying the debt service on bonds issued to finance the construction and acquisition of a convention center. The County then determined by resolution to issue revenue bonds for the purpose of financing the construction and acquisition of the convention center. Following the adoption of the resolution, the County filed a complaint for validation in circuit court. In compliance with section 75.04, the complaint alleged the County's authority to issue the bonds, the ordinance and resolution authorizing the issuance of bonds, the amount of the bonds (i.e., not exceeding $35,000,000), and the interest the bonds will bear (i.e., an amount not to exceed the maximum permitted by law). See Dorman v. Highlands County Hosp. Dist., 417 So.2d 253 (Fla.1982) (holding that allegation in complaint that bonds will bear interest at rates not to exceed the maximum rate permitted by law at time of issuance complied with section 75.04's requirement concerning rate of interest). The complaint was filed against the State and the taxpayers, property owners, and citizens of Osceola County. Nothing more was required from the County. Contrary to the State's assertion, the plain language of chapter 75 does not require the County to allege the cost of the project or to include the Osceola Trace Community Development District as an indispensable party to this action. As for the former, the statute only requires the County to identify the amount of the bonds to be issued, which it did in this case by alleging that the bonds would not exceed $35,000,000. As for the latter, the only necessary parties under chapter 75 are the bond-issuing entity and the State. See §§ 75.04, .05; Broward County v. State, 515 So.2d 1273 (Fla.1987) (holding bondholders are not indispensable parties to bond validation proceeding). Accordingly, the County was not required to include the District as a party to this cause. Based on the foregoing, it appears the County has complied with the requirements of the law in authorizing the issuance of the bonds in this case. [13] Accordingly, we affirm the trial court's order validating the issuance of bonds in this case. It is so ordered. HARDING, C.J., and SHAW, WELLS, ANSTEAD, PARIENTE and LEWIS, JJ., concur. QUINCE, J., concurs in result only.