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FL S0770
Bill
AI Summary
- Adds new powers to neighborhood improvement districts by amending Florida Statutes § 163.506
- Authorizes districts to borrow money, issue bonds, certificates, warrants, notes, and other debt instruments to finance capital projects permitted under the Florida Constitution
- Requires bond issuance to be authorized by both district board resolution and local governing body resolution, plus voter referendum approval per § 163.514(16)
- For commercial districts, referendum requirement is satisfied by affirmative vote of freeholders owning more than 50 percent of assessed property value
- Allows bonds to be issued in multiple series with flexible terms regarding maturity dates, interest rates, denominations, redemption provisions, and security arrangements
- Takes effect July 1, 2013
Legislative Description
Neighborhood Improvement Districts
Last Action
Died in Messages
5/3/2013
Committee Referrals
Appropriations4/8/2013
Finance and Tax Appropriations Subcommittee3/11/2013
Community Affairs2/14/2013
Full Bill Text
No bill text available