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