The Florida Senate

236.45  Form and denomination of bonds.--The school board may prescribe the denomination of the bonds to be issued, and such bonds may be issued with or without interest coupons in the discretion of the board. The form of the bonds to be issued may be prescribed by the state board on the recommendation of the Department of Legal Affairs. The schedule of maturities of the proposed bonds shall be so arranged that the total payments required each year shall be as nearly equal as practicable. The schedule shall provide that all bonds are to be retired within a period of 20 years from the date of issuance unless a longer period is required and has been specifically approved by the Department of Education. All bonds issued hereunder which bear interest in excess of 2.99 percent shall be callable on terms prescribed by the school board beginning not later than 10 years from the date of issuance.

History.--s. 1045, ch. 19355, 1939; CGL 1940 Supp. 892(364); s. 8, ch. 21989, 1943; ss. 11, 15, 35, ch. 69-106; s. 1, ch. 69-300; s. 4, ch. 84-349.