Florida Senate - 2013 CS for CS for SB 770 By the Committees on Appropriations; and Community Affairs; and Senator Ring 576-04652-13 2013770c2 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 on resolution and referendum; providing 9 an effective date. 10 11 Be It Enacted by the Legislature of the State of Florida: 12 13 Section 1. Paragraph (i) is added to subsection (1) of 14 section 163.506, Florida Statutes, to read: 15 163.506 Local government neighborhood improvement 16 districts; creation; advisory council; dissolution.— 17 (1) After a local planning ordinance has been adopted 18 authorizing the creation of local government neighborhood 19 improvement districts, the local governing body of a 20 municipality or county may create local government neighborhood 21 improvement districts by the enactment of a separate ordinance 22 for each district, which ordinance: 23 (i) Authorizes the district to borrow money, contract 24 loans, and issue bonds, certificates, warrants, notes, or other 25 evidence of indebtedness to finance the undertaking of a capital 26 or other project for a purpose permitted by the State 27 Constitution and this part, and to pledge the funds, credit, 28 property, and special assessment power of the district for the 29 payment of such debts and bonds. Bonds that are issued under 30 this paragraph must be authorized by resolution of the board, by 31 resolution of the governing body of the municipality or county, 32 and by a referendum as described in s. 163.514(16). Such bonds 33 may be issued in one or more series and shall bear such date or 34 dates, be payable upon demand or mature at such time or times, 35 bear interest at such rate or rates, be in such denomination or 36 denominations, be in such form, registered or not, with or 37 without coupon, carry such conversion or registration 38 privileges, have such rank or priority, be executed in such 39 manner, be payable in such medium of payment, at such place or 40 places, and subject to such terms of redemption, with or without 41 premium, be secured in such manner, and have such other 42 characteristics as may be provided by such resolution or trust 43 indenture or mortgage issued pursuant thereto. 44 Section 2. This act shall take effect July 1, 2013.