mfpthemar 1, 1972
Mr. DeSriU Ml aMt
P.I. ams 1072
omrehvill., nrlida 33512
At the aseat9 ong loast Ira y, syau rsa l. i a the
pesMblty a 1 eads insm r tt i DiLStaSt, as mbe 1s .. at
QrtiaLe 12, seti 11, of the flertsa suida tLbs, tluseI
.scail SiStieflate to iunse bae, s .0 M* pblbsa Lad vat lars
taxes aSa Nsta.eh note a MA 12 aoanW aft ilfesMei meftv Who
,by as 0e9 %. e se Os tw s.u eM PtstSmuIe b se,
at a ,fs latest sete. a.M ofts, a*e Dmtrii t Mau m n heb
atiM to issu oeMl *atI O tlYt e mati i s w 6 a ai,
stlen t"he hbead. 5 a l0e is l3As hamn 12 matst.
Af tel. 129, gelatin 1*, limat a AlMl M1 MtAAIt Ite pleWging
ita reaft, bat it plWridts that i" 2ta.ttfit Mfot ant wpe
wasp terw a- et9 f 0 0 tbe 9 Nlaoa a IN1.1 it WoAe
still be mas to Oabea "ena g w110b".
seattiM 37.53 75 mehtatsk the DietriCt to itsae aReMel 0b63thgAeaN
eans, bt dea Met grams speote astnefl r -LMtag reue
Chapel aSS .u nl..isda seatwke, sente.. rLsea nasa. anvrawe r-
bet et o19,1 a5 p te, AL e hb .*ova IM6a^y 9t ar tt a the
States to Lf w 1 gwam Umw* wm ow "I. Lr a. 0 6n altn
a emes *'tti iw.a ai w As S I*a r w0y lar~~e0 in
be states. Itei nm o et anilta i i atfial 4heiotr s.
htdmn S.r ~eLQ7h
W. ebarrill iMuEult
It is qy ho* "at it the District auleJ ttme it mOea
abatai. As Maos 4w ags *seem the us ad its psjfits, the
it eaLt s Jldk qiLflsl Ie dta4 4* eM Sitb0 *t to Lteas netF e
SoUmPs*W SI;. 3e 1 tha wi be a goe am to
fins aIl SS O watet pseg ttsee.
If ye hnave say father neati.cs or qsmutieur please Call
lwsr vwry trul,
oam.r 3*1. mnss~kL~~
September 15, 1972
RE: SWFWMD Bond Issue
Article XI1r, Section llxauthorized 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
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.