Senate Bill 1744

    Florida Senate - 1999                                  SB 1744

    By Senator Lee





    23-1323-99                                              See HB

  1                      A bill to be entitled

  2         An act relating to bond financing; amending s.

  3         159.612, F.S.; authorizing housing finance

  4         authorities under the Florida Housing Finance

  5         Authority Law to issue refunding bonds for

  6         certain purposes; providing an effective date.

  7

  8  Be It Enacted by the Legislature of the State of Florida:

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10         Section 1.  Subsection (1) of section 159.612, Florida

11  Statutes, is amended to read:

12         159.612  Bonds.--

13         (1)  A housing finance authority may issue revenue

14  bonds from time to time in the discretion of the housing

15  finance authority for the purposes of this act.  A housing

16  finance authority may also issue refunding bonds for the

17  purpose of paying, retiring, or refunding any bonds previously

18  issued by such housing finance authority it.  A housing

19  finance authority may also issue refunding bonds for the

20  purpose of paying, retiring, or refunding any bonds previously

21  issued by another housing finance authority if such other

22  housing finance authority consents to the issuance of such

23  refunding bonds.  A housing finance authority may issue such

24  types of bonds as it may determine; provided that the

25  principal and interest on such bonds are payable solely and

26  only from:

27         (a)  The repayment of any loans made by the housing

28  finance authority pursuant to the provisions of s. 159.608 or

29  purchased by the housing finance authority pursuant to s.

30  159.608; or

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 1999                                  SB 1744
    23-1323-99                                              See HB




  1         (b)  The sale of any housing loans or commitments to

  2  purchase housing loans which are purchased pursuant to s.

  3  159.608.

  4         Section 2.  This act shall take effect July 1, 1999.

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  7                          HOUSE SUMMARY

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      Revises the Florida Housing Finance Authority Law to
  9    provide that a housing finance authority may issue
      refunding bonds for the purpose of paying, retiring, or
10    refunding bonds previously issued by another housing
      authority if the other housing finance authority consents
11    to the issuance of such refunding bonds.

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