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.
    7  Be It Enacted by the Legislature of the State of Florida:
    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 majority of
   16  all the members thereof then 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   18  introduced and need not be published or posted.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 appear on any bonds or
   47  coupons ceases shall cease to 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 same
   50  as if he or she had remained in office until such delivery.
   51         Section 2. This act shall take effect October 1, 2019.