HB 465

A bill to be entitled
2An act relating to district school board bonds;
3amending s. 1010.49, F.S.; revising provisions
4relating to the issuance and retirement of bonds;
5providing an effective date.
7Be It Enacted by the Legislature of the State of Florida:
9     Section 1.  Section 1010.49, Florida Statutes, is amended
10to read:
11     1010.49  Form and denomination of bonds.-The district
12school board may prescribe the denomination of the bonds to be
13issued, and such bonds may be issued with or without interest
14coupons in the discretion of the board. The form of the bonds to
15be issued may be prescribed by the State Board of Education on
16the recommendation of the Department of Legal Affairs. The
17schedule of maturities of the proposed bonds shall be determined
18by the district school board so arranged that the total payments
19required each year shall be as nearly equal as practicable. The
20schedule shall provide that all bonds are to be retired within a
21period of 20 years from the date of issuance unless a longer
22period is required and has been specifically approved by the
23district school board Department of Education. All bonds issued
24under this section that bear interest in excess of 2.99 percent
25shall be callable at the times and upon the on terms prescribed
26by the district school board beginning not later than 10 years
27from the date of issuance.
28     Section 2.  This act shall take effect July 1, 2012.

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