Florida Senate - 2014                          SENATOR AMENDMENT
       Bill No. HB 5601
       
       
       
       
       
       
                                Ì526886\Î526886                         
       
                              LEGISLATIVE ACTION                        
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       Senator Smith moved the following:
       
    1         Senate Amendment to Amendment (965938) (with title
    2  amendment)
    3  
    4         Between lines 4 and 5
    5  insert:
    6         Section 1. Effective July 1, 2014, paragraph (i) is added
    7  to subsection (1) of section 163.506, Florida Statutes, to read:
    8         163.506 Local government neighborhood improvement
    9  districts; creation; advisory council; dissolution.—
   10         (1) After a local planning ordinance has been adopted
   11  authorizing the creation of local government neighborhood
   12  improvement districts, the local governing body of a
   13  municipality or county may create local government neighborhood
   14  improvement districts by the enactment of a separate ordinance
   15  for each district, which ordinance:
   16         (i) May authorize the district to borrow money, contract
   17  for loans, and issue bonds, certificates, warrants, notes, or
   18  other evidence of indebtedness to finance the undertaking of a
   19  capital project for a purpose permitted by the State
   20  Constitution and this part, and to pledge the special assessment
   21  power of the district for the payment of such debts and bonds.
   22         1. Loans contracted by the district pursuant to this
   23  paragraph may not have a term that exceeds the life of the
   24  project secured by the loan.
   25         2. Bonds issued by the district pursuant to this paragraph
   26  must be authorized by resolution of the board, by resolution of
   27  the governing body of the municipality or county, and by a
   28  referendum as described in s. 163.514(16). As provided by
   29  resolution or trust indenture, or a mortgage issued pursuant
   30  thereto, bonds may be issued in one or more series and must bear
   31  the specified date or dates; be payable upon demand or mature at
   32  the specified time or times; bear interest at the specified rate
   33  or rates; be in the specified denomination or denominations; be
   34  in the specified form, registered or not, with or without
   35  coupon; carry specified conversion or registration privileges;
   36  have the specified rank or priority; be executed in the
   37  specified manner; be payable in the specified medium of payment,
   38  at such place or places, and subject to the specified terms of
   39  redemption, with or without premium; be secured in the specified
   40  manner; and have other characteristics as may be specified.
   41  
   42  ================= T I T L E  A M E N D M E N T ================
   43  And the title is amended as follows:
   44         Between lines 1378 and 1379
   45  insert:
   46         163.506, F.S.; providing that an ordinance that
   47         creates a local government neighborhood improvement
   48         district may authorize the district to incur certain
   49         debts and pledge the special assessment power of the
   50         district to pay such debts for the purpose of
   51         financing certain capital projects; providing
   52         conditions on the exercise of such power; amending s.