Florida Senate - 2019 SB 1244 By Senator Wright 14-01450-19 20191244__ 1 A bill to be entitled 2 An act relating to community development district bond 3 financing; amending s. 190.016, F.S.; requiring 4 district boards to authorize bonds by a two-thirds 5 vote of the members; providing an effective date. 6 7 Be It Enacted by the Legislature of the State of Florida: 8 9 Section 1. Subsection (2) of section 190.016, Florida 10 Statutes, is amended to read: 11 190.016 Bonds.— 12 (2) AUTHORIZATION AND FORM OF BONDS.—Beginning October 1, 13 2019, any general obligation bonds, benefit bonds, or revenue 14 bonds may be authorized by resolution or resolutions of the 15 board which shall be adopted by a two-thirds vote
majorityof 16 all the members thereofthen in office. Such resolution or 17 resolutions may be adopted at the same meeting at which they are 18 introduced and need not be published or posted. The board may, 19 by resolution, authorize the issuance of bonds and fix the 20 aggregate amount of bonds to be issued; the purpose or purposes 21 for which the moneys derived therefrom shall be expended, 22 including, but not limited to, payment of costs as defined in s. 23 190.003(8); the rate or rates of interest, in compliance with s. 24 215.84; the denomination of the bonds; whether or not the bonds 25 are to be issued in one or more series; the date or dates of 26 maturity, which shall not exceed 40 years from their respective 27 dates of issuance; the medium of payment; the place or places 28 within or without the state where payment shall be made; 29 registration privileges; redemption terms and privileges, 30 whether with or without premium; the manner of execution; the 31 form of the bonds, including any interest coupons to be attached 32 thereto; the manner of execution of bonds and coupons; and any 33 and all other terms, covenants, and conditions thereof and the 34 establishment of revenue or other funds. Such authorizing 35 resolution or resolutions may further provide for the contracts 36 authorized by s. 159.825(1)(f) and (g) regardless of the tax 37 treatment of such bonds being authorized, subject to the finding 38 by the board of a net saving to the district resulting by reason 39 thereof. Such authorizing resolution may further provide that 40 such bonds may be executed in accordance with the Registered 41 Public Obligations Act, except that bonds not issued in 42 registered form shall be valid if manually countersigned by an 43 officer designated by appropriate resolution of the board. The 44 seal of the district may be affixed, lithographed, engraved, or 45 otherwise reproduced in facsimile on such bonds. In case any 46 officer whose signature appears shall appearon any bonds or 47 coupons ceases shall ceaseto be such officer before the 48 delivery of such bonds, such signature or facsimile shall 49 nevertheless be valid and sufficient for all purposes the same50 as if he or she had remained in office until such delivery. 51 Section 2. This act shall take effect October 1, 2019.