FL S1496

Authorizes city ordinances creating neighborhood improvement districts to permit those districts to borrow money, issue bonds, certificates, warrants, notes, and other debt instruments to finance capital projects.

Requires bond authorization by resolution of the district's governing board, resolution of the city commission, and referendum approval by a majority of registered district electors.

Mandates mail ballot referendums that must identify the estimated cost of capital projects and the bond issue amount, with voter registration lists compiled within 45 days of the referendum ordinance.

Establishes a timeline for referendum procedures including 45-day notification period, 75-day open registration, ballot mailing within 15 days of registration closure, and results certification within 5 days of the 60-day ballot return period.

Limits loan terms to the useful life of the projects being financed, and allows districts to pledge their special assessment power as security for debt repayment.