§ 110-43. Bonds.

After the recording of the assessment roll, the board of county commissioners may by resolution authorize an issue of bonds of the county for the payment of such portion of the cost assessed against the properties specially benefited thereby and for the reimbursement of any fund of the county from which any part of such cost shall heretofore have been paid. The amount of such bonds authorized to be issued under this article shall not exceed in the aggregate the total amount of the assessment liens pledged for their payment. Such bonds shall be dated, shall bear interest at such rate or rates as are established by the board of county commissioners, shall mature at such time or times not later than six months after the maturity of the last installment of the special assessment liens pledged to the payment thereof as may be determined by the board, and may be redeemable before maturity at the option of the board under such terms and conditions as may be fixed by the board prior to the issuance of the bonds. The board shall determine the forms of the bonds, including any interest coupons to be attached thereto and the manner of execution of the bonds and coupons; and shall fix the denomination or denominations of the bonds and the place of payment of principal and interest, which may be at any bank or trust company within or without the state. In case any officer whose signature or a facsimile of whose signature shall appear on any bonds or coupons shall cease to be such officer before the delivery of such bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes the same as if such officer had remained in office until such delivery. All bonds issued under the provisions of this article shall have and are hereby declared to have all the qualities and incidents of negotiable instruments under the negotiable instruments laws of the state. The bonds may be issued in coupon or in registered form, or both, as the board may determine, and provisions may be made for the registration of any coupon bonds as to principal alone and also as to both principal and interest, and for the reconversion into coupon bonds of any bonds registered as to both principal and interest. The issuance of such bonds shall not be subject to any limitation or condition contained in any other law. The county may deliver such bonds to the contractor in full payment for his work or may sell such bonds at public or private sale at not less than par plus accrued interest. Prior to the preparation of definitive bonds, the county may, under like restrictions, issue interim receipts or temporary bonds, with or without coupons, exchangeable for definitive bonds when such bonds have been executed and are available for delivery. The board may also provide for the replacement of any bonds which shall be mutilated, destroyed or lost.

(Laws of Fla. ch. 63-1783, § 13; Ord. No. 01-50, § 13, 7-17-01)

State law reference

Limitations on interest rates, F.S. §§ 215.84, 215.845.