The Florida Senate

1010.611  Resolution for issuance of revenue certificates.--The issuance of revenue certificates under the provisions of this part and the State Bond Act shall be requested by resolution of the State Board of Education. Said revenue certificates shall bear interest at such rate or rates not exceeding the interest rate limitations set forth in s. 215.84(3), provided that certificates may be sold at a reasonable discount to par not to exceed 3 percent, except that this limitation on discount does not apply to the portion of the discount that constitutes original issue discount. The revenue certificates may be issued in one or more series, may bear such date or dates, may be in such denomination or denominations, may mature at such time or times, not exceeding 30 years from their respective dates, may be in such form, either coupon or registered, may carry such registration privileges, may be executed in such manner, may be payable in such medium of payment and at such place or places, may be subject to such terms of redemption, with or without premium, may contain such terms, covenants, and conditions, and may be declared or become due before the maturity date thereof as such resolution or other resolutions may provide. The revenue certificate may be sold at public sale by competitive bid or negotiated sale. Pending the preparation of the definitive certificates, interim receipts or certificates in such form and with such provisions as the board may determine may be issued to the purchaser or purchasers of certificates sold pursuant to this part. The certificates and interim receipts shall be fully negotiable within the meaning and for all the purposes of the negotiable instruments law.

History.--s. 571, ch. 2002-387.