The Florida Senate

236.43  Receiving bids and sale of bonds.--

(1)  In case the issuance of bonds shall be authorized at said election, or in case any bonds outstanding against the district are being refunded, the school board shall cause notice to be given by publication in some newspaper published in the district that said board will receive bids for the purchase of the bonds at the office of the superintendent of said district. The notice shall be published twice and the first publication shall be given not less than 30 days prior to the date set for receiving the bids. Said notice shall specify the amount of the bonds offered for sale and shall state whether the bids shall be sealed bids or whether the bonds are to be sold at auction, shall give the schedule of maturities of the proposed bonds and such other pertinent information as may be prescribed by regulations of the state board. Bidders may be invited to name the rate of interest which the bonds are to bear or the school board may name rates of interest and invite bids thereon. In addition to publication of notice of the proposed sale as set forth above, the school board shall also notify in writing at least three recognized bond dealers in the state and shall also at the same time notify the Department of Education concerning the proposed sale, enclosing a copy of the advertisement.

(2)  All bonds and refunding bonds issued as provided by law shall be sold to the highest and best bidder at such public sale unless sold at a better price or yield basis within 30 days after failure to receive an acceptable bid at a duly advertised public sale; provided, that at no time shall bonds or refunding bonds be sold or exchanged at less than par value except as specifically authorized by the department; and provided, further, that the school board shall have the right to reject all bids and cause a new notice to be given in like manner inviting other bids for such bonds, or to sell all or any part of such bonds to the state board at a price and yield basis which shall not be less advantageous to the school board than that represented by the highest and best bid received. In the marketing of said bonds the school board shall be entitled to have such assistance as can be rendered by the Governor, the State Treasurer, the Commissioner of Education, or any other public state officer or agency. In determining the highest and best bidder for bonds offered for sale, the net interest cost to the school board as shown in standard bond tables shall govern; provided, that the determination of the school board as to the highest and best bidder shall be final.

History.--s. 1043, ch. 19355, 1939; CGL 1940 Supp. 892(362); s. 7, ch. 21989, 1943; s. 5, ch. 22839, 1945; ss. 15, 35, ch. 69-106; s. 1, ch. 69-300.