Florida Senate - 2016                          SENATOR AMENDMENT
       Bill No. CS for HB 7043
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                 Floor: WD/2R          .                                
             03/10/2016 01:43 PM       .                                

       Senator Brandes moved the following:
    1         Senate Amendment to Amendment (420294) (with directory and
    2  title amendments)
    4         Between lines 1450 and 1451
    5  insert:
    8  BE PLEDGED.—
    9         (a) A charter school established pursuant to this section
   10  may enter into agreements to borrow otherwise secure funds for
   11  the charter school, and to assign, pledge, and encumber its
   12  assets in a manner consistent with s. 617.0302(7). This
   13  paragraph shall be construed as providing supplemental and
   14  additional powers to a charter school in addition to any other
   15  powers conferred by any other law.
   16         (b) Any arrangement entered into to borrow or otherwise
   17  secure funds for a charter school authorized in this section
   18  from a source other than the state or a school district shall
   19  indemnify the state and the school district from any and all
   20  liability, including, but not limited to, financial
   21  responsibility for the payment of the principal or interest. Any
   22  loans, bonds, or other financial agreements are not obligations
   23  of the state or the school district but are obligations of the
   24  charter school authority and are payable solely from the sources
   25  of funds pledged by such agreement. The credit or taxing power
   26  of the state or the school district shall not be pledged and no
   27  debts shall be payable out of any moneys except those of the
   28  legal entity in possession of a valid charter approved by a
   29  district school board pursuant to this section. A charter school
   30  that pledges or assigns the future payment of its funding is not
   31  considered to have pledged the credit or taxing power of the
   32  state or the school district in violation of this paragraph.
   33  This paragraph does not relieve the sponsor of its obligations
   34  to fund the charter school pursuant to this section or to honor
   35  all lawful security interests, liens, and encumbrances pursuant
   36  to paragraph (8)(e).
   38  ====== D I R E C T O R Y  C L A U S E  A M E N D M E N T ======
   39  And the directory clause is amended as follows:
   40         Delete lines 1448 - 1449
   41  and insert:
   42         Section 20. Subsection (14) and paragraph (a) of subsection
   43  (20) of section 1002.33, Florida Statutes, are amended to read:
   45  ================= T I T L E  A M E N D M E N T ================
   46  And the title is amended as follows:
   47         Delete line 1694
   48  and insert:
   49         F.S.; authorizing charter schools to enter into
   50         arrangements to borrow secure funds and assign,
   51         pledge, and encumber assets; specifying circumstances
   52         under which a charter school is not considered to have
   53         pledged credit or taxing power of the state or a
   54         school district; conforming cross-references;
   55         providing an