The Florida Senate

1010.617  Tax exemption and eligibility as legal investments.--

(1)  The exercise of the powers granted by this part in all respects constitutes the performance of essential public functions for the benefit of the people of the state. All properties, revenues, or other assets of the State Board of Education for which revenue certificates are issued under this part, and all revenue certificates issued hereunder and the interest thereon, shall be exempt from all taxation by any agency or instrumentality of a county, municipality, or the state. The exemption granted by this section is not applicable to any tax imposed by chapter 220 on interest, income, or profits on debt obligations owned by corporations.

(2)  All obligations issued pursuant to this part shall be and constitute legal investments without limitation for all public bodies and for all banks, savings banks, guardians, insurance funds, trustees, or other fiduciaries and shall be and constitute eligible securities to be deposited as collateral for security of any state, county, municipal, or other public funds.

History.--s. 577, ch. 2002-387.