FL H0351

Amends Florida Statutes section 163.506 to authorize neighborhood improvement districts to borrow money, contract loans, and issue bonds, certificates, warrants, notes, or other debt instruments to finance capital projects permitted by the State Constitution.

Allows districts to pledge their special assessment power to secure repayment of debts and bonds issued under this authority.

Limits loan terms to not exceed the life of the project secured by the loan.

Requires bond issuance to be authorized by resolution of the district board, resolution of the municipality or county governing body, and approval by referendum as specified in section 163.514(16).

Takes effect July 1, 2014.