FL H0435

Municipal bonds exceeding $50 million require approval by referendum vote of municipality electors, in addition to governing body authorization by resolution or ordinance.

Bond referendum ballots must include a printed description of the bond issuance, separate statement for each bond issue showing bond amount and interest rate, and other details necessary to inform voters.

Bond referendum ballots for bond series exceeding $50 million must also display the total amount bonded, total amount of interest to be paid, and the cost to service the debt.

The act takes effect July 1, 2014.