The Florida Senate

228.0568  Charter school financial arrangements; indemnification of the state and school district; credit or taxing power not to be pledged.--Any arrangement entered into to borrow or otherwise secure funds for a charter school authorized in s. 228.056 from a source other than the state or a school district shall indemnify the state and the school district from any and all liability, including, but not limited to, financial responsibility for the payment of the principal or interest. Any loans, bonds, or other financial agreements are not obligations of the state or the school district but are obligations of the charter school authority and are payable solely from the sources of funds pledged by such agreement. The credit or taxing power of the state or the school district shall not be pledged and no debts shall be payable out of any moneys except those of the legal entity in possession of a valid charter approved by a district school board pursuant to s. 228.056.

History.--s. 6, ch. 99-374.