Florida Senate - 2013 CS for SB 770 By the Committee on Community Affairs; and Senator Ring 578-02029-13 2013770c1 1 A bill to be entitled 2 An act relating to neighborhood improvement districts; 3 amending s. 163.506, F.S.; providing that an ordinance 4 that creates a neighborhood improvement district may 5 authorize the district to exercise certain powers, in 6 addition to those already granted to such districts; 7 specifying such powers; conditioning the exercise of 8 those powers by the local government neighborhood 9 improvement district upon referendum approval by the 10 electors of the district; providing an effective date. 11 12 Be It Enacted by the Legislature of the State of Florida: 13 14 Section 1. Paragraph (i) is added to subsection (1) of 15 section 163.506, Florida Statutes, to read: 16 163.506 Local government neighborhood improvement 17 districts; creation; advisory council; dissolution.— 18 (1) After a local planning ordinance has been adopted 19 authorizing the creation of local government neighborhood 20 improvement districts, the local governing body of a 21 municipality or county may create local government neighborhood 22 improvement districts by the enactment of a separate ordinance 23 for each district, which ordinance: 24 (i) Authorizes the district to exercise powers, in addition 25 to those described in s. 163.514, deemed necessary and useful by 26 the local governing body, including the power to borrow money 27 and incur indebtedness; finance and refinance projects of the 28 district; pledge revenues and ad valorem taxes to secure or 29 repay obligations of the district; and lease or lease-purchase 30 property, as lessor or lessee, and impose user fees and charges. 31 1. Bonds that are issued under this paragraph shall be 32 authorized by resolution of the governing body of the district 33 and, if required by the State Constitution, by affirmative vote 34 of the electors of the district. Such bonds may be issued in one 35 or more series and shall bear such date or dates, be payable 36 upon demand or mature at such time or times, bear interest at 37 such rate or rates, be in such denomination or denominations, be 38 in such form, registered or not, with or without coupon, carry 39 such conversion or registration privileges, have such rank or 40 priority, be executed in such manner, be payable in such medium 41 of payment, at such place or places, and subject to such terms 42 of redemption, with or without premium, be secured in such 43 manner, and have such other characteristics as may be provided 44 by such resolution or trust indenture or mortgage issued 45 pursuant thereto. A bond may not be issued or sold for a greater 46 amount than the amount assessed by the district. 47 2. The exercise of the powers provided in this paragraph is 48 conditioned upon referendum approval by the electors of the 49 district. 50 Section 2. This act shall take effect July 1, 2013.