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.
   12  Be It Enacted by the Legislature of the State of Florida:
   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.