Title: Opinion File 72-38 thru 72-40
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Permanent Link: http://ufdc.ufl.edu/WL00003326/00001
 Material Information
Title: Opinion File 72-38 thru 72-40
Physical Description: Book
Language: English
 Subjects
Spatial Coverage: North America -- United States of America -- Florida
 Notes
Abstract: Buddy Blain's Collections - Opinion File 72-38 thru 72-40
General Note: Box 14, Folder 3 ( Opinions 1972 - 1973 - 1972 - 1973 ), Item 11
Funding: Digitized by the Legal Technology Institute in the Levin College of Law at the University of Florida.
 Record Information
Bibliographic ID: WL00003326
Volume ID: VID00001
Source Institution: Levin College of Law, University of Florida
Holding Location: Levin College of Law, University of Florida
Rights Management: All rights reserved by the source institution and holding location.

Full Text


72-38



September 15, 1972 K
KEY WORDS: COJ


TO: MGG

RE SWFWMD Bond IssueA


Article XIII, Section 11 authorized special districts
to issue bonds, etc., payable from ad valorem taxes and
maturing more than 12 months after issuance only when
approved by vote of the electors or to refund outstanding
bonds at a lower interest cost.

Therefore, SWFWMD would not be authorized to issue
general obligation bonds without a referendum unless
they would mature in less than 12 months.

Article XII, Section 10 limits a special district from
pledging its credit but provides that this limitation
shall not prohibit laws authorizing the issuance of
revenue bonds when the revenue bonds are payable solely
from the revenue derived from the sale, operation or leasing
of projects financed thereby. It would still be necessary
to obtain enabling legislation. Section 378.35 authorizes
the Governing Board to issue general obligation bonds but
does not grant specific authority for issuing revenue
bonds.

Chapter 159, Florida Statutes, referred to as the
Revenue Bond Act of 1953, authorizes the governing body
of !any unit in the state" to issue revenue bonds.
However, in the definition section the word unit is
defined to mean any county or municipality in the state.
This doesn't include special districts.

I think the District should seek legislation which would
enable it to issue revenue bonds for the purpose of
financing works of the District. Fees, rents and charges
for the use of the projects could then be pledged to
amortize the bonds. This would be a good way to finance
well fields and water producing facilities.


LMB: cs







72-39






PERFORMANCE AND GUARANTY BOND


State of _)
County of )
City of )

KNOW ALL MEN BY THESE PRESENTS THAT


(Permittee)

as Principal and
(Bonding Company)

a corporation organized under the laws of the State of

having its home office in the City of

and licensed to do business in the State of Florida, as Surety, herein-
after called the Surety, are held and firmly bound unto the Southwest
Florida Water Management District, and the Honorable Claude R. Kirk, Jr.,
Governor of the State of Florida, as Obligee, in the full amount of
$10,000 to the payment of which sum, well and truly to be made, the
_/ said Principal and Surety bind themselves, their respective heirs, admin-
istrators, executors, successors and assigns jointly and severally, firmly
by these presents.

THE CONDITION OF THIS OBLIGATION IS SUCH, that whereas the Principal of
this the day of 19 entered into a
certain agreement with the District, hereto attached for (1) drainage
structure into Channel "A", Upper Tampa Bay Watershed Canal west of Shel-
don Road per plans, specifications, prepared by Hansen Engineering Com-
pany, and permit #70-176 stipulations and stipulations of approval letter.

The Bond shall remain in full force and effect for a period of one (1)
year from the date of acceptance of the project by the District and the
Permittee guarantees to repair or replace for said period of one (1)
year all work performed or furnished according to the terms of the Permit
and the Permittee shall make good defects thereof which have become ap-
parent before the expiration of said period of one (1) year. If any
part of the project, in the judgement of the District for the reasons
above stated needs to be replaced, repaired or made good during that
time, he shall:so notify the Permittee in writing. If the Permittee
refuses or neglects to do such work within sixty (60) days from the
date of service of such notice, the District shall have the work done
by others and the cost thereof shall.be paid by the Permittee or his
Surety.







72-40


= WITNESS WHEREOF, the above bounden parties have executed this instrument
Imder their several seals on the date indicated above the name and corporate
seal of each corporate party being hereto affixed and these presents duly
signed by its undersigned representative pursuant to authority of its gov-
erning body.

Signed, Sealed and Delivered
in the Presence of:


By _
Principal


SBy
Surety


Note: If
affixed.


Principal and Surety are Corporations, corporate seals should be


. Lu 7-/ -*


___~ I I


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