Senate Bill sb2998

    Florida Senate - 2007        (NP)                      SB 2998

    By Senator Baker





    20-1853A-07                                             See HB

  1                      A bill to be entitled

  2         An act relating to Lake County; amending

  3         chapter 78-547, Laws of Florida; increasing the

  4         amount of certificates of indebtedness the

  5         School Board of Lake County is authorized to

  6         issue; authorizing such certificates to be in

  7         registered form and to be sold at private sale;

  8         removing a sale price limitation; providing an

  9         effective date.

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11  Be It Enacted by the Legislature of the State of Florida:

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13         Section 1.  Section 2 of chapter 78-547, Laws of

14  Florida, is amended to read:

15         Section 2.  To pay the cost of such projects, as

16  described in Section 1 hereof, the Board is authorized to

17  issue, from time to time, in addition to obligations of the

18  Board outstanding under or authorized by any other law,

19  certificates of indebtedness in the aggregate principal sum of

20  $1,500,000 (hereinafter referred to as called "certificates")

21  in an aggregate principal amount not to exceed $3,500,000. The

22  certificates may be in coupon or registered form, in such

23  denomination or denominations, bear interest at such rate or

24  rates not exceeding the legal rate per annum and mature at

25  such time or times not exceeding 40 years from their date or

26  dates as may be determined by the Board. The certificates may

27  be made redeemable before maturity, at the option of the

28  Board, at such price or prices and under such terms and

29  conditions as may be fixed by the Board prior to their

30  issuance. The Board shall determine the place or places of

31  payment of the principal of any interest on the certificates,

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2007        (NP)                      SB 2998
    20-1853A-07                                             See HB




 1  which may be at any bank or trust company within or without

 2  the state. The certificates shall be signed by the manual or

 3  facsimile signatures of the chairman and the secretary of the

 4  Board, provided that the certificates shall bear the signature

 5  of one of such officers which shall be manually executed

 6  thereon. Any The coupons attached to the certificates shall

 7  bear the facsimile signature or signatures of such officer or

 8  officers as shall be designated by the Board. The certificates

 9  shall have the seal of the Board affixed, imprinted,

10  reproduced or lithographed thereon, and any the coupons may

11  have printed thereon "(Seal)," all as may be prescribed in the

12  resolution or resolutions authorizing the issuance thereof.

13  The certificates may be sold at public or private sale at such

14  price or prices, but not less than ninety-five (95%) percent

15  of the principal amount thereof, as the Board shall determine

16  to be in its best interest.

17         Section 2.  This act shall take effect upon becoming a

18  law.

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CODING: Words stricken are deletions; words underlined are additions.