Florida Statute 132.03 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XI
COUNTY ORGANIZATION AND INTERGOVERNMENTAL RELATIONS

Chapter 132
GENERAL REFUNDING LAW

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132.03 Interest; maturity; payment; right to redeem in advance.—Such resolution or resolutions shall determine the rate or rates of interest to be paid, not exceeding 7.5 percent per annum, payable annually or at shorter intervals, and the maturity or maturities of the bonds which shall be at a time or times not exceeding 60 years from the date of the bonds (except that in the issuance of bonds of taxing districts where the maturities are fixed under the Constitution, then such maturities shall be in accordance with the maturities fixed in the constitutional provision), as well as determine the medium of payment and the place or places in Florida or any other state at which the principal and interest shall be payable. In the discretion of the governing body the right to redeem all or any of the bonds at par before maturity may be reserved upon terms and conditions to be fixed by resolution.

History.—s. 3, ch. 15772, 1931; CGL 1936 Supp. 2383(3); s. 2, ch. 73-302.

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Amendments to 132.03

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Cases Citing Statute 132.03

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Dimmitt & Owens Fin., Inc. v. Green (In Re Green), 262 B.R. 557 (Bankr. M.D. Fla. 2001).

Cited 9 times | Published | United States Bankruptcy Court, M.D. Florida | 14 Fla. L. Weekly Fed. B 289, 46 Collier Bankr. Cas. 2d 424, 2001 Bankr. LEXIS 535, 2001 WL 543726

...Some circuits hold that each alternative ground is deemed necessary . . ., while others hold that neither ground is necessary. . . . In addition, other courts have held that an alternative ground may not be given offensive issue preclusive effect. . . ." 18 Moore's Federal Practice, § 132.03[4][b][i] (Matthew Bender 3d ed.)(Footnotes omitted)....

...Moore's also describes the position taken by the Restatement (Second) of Judgments, which is that a judgment based on determinations of two issues, either of which standing independently would be sufficient to support the result, is not conclusive with respect to either issue standing alone. 18 Moore's Federal Practice, § 132.03[4][b][iv]....

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