Florida Statute 132.08 - 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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132.08 Exchange of bonds.—Bonds issued under this chapter may be exchanged for not less than an equal principal amount and accrued interest of indebtedness to be retired thereby, including indebtedness not yet due, if the same be then redeemable or if the holders thereof be willing to surrender the same for retirement, but otherwise shall be sold and the proceeds thereof shall be applied to the payment of such indebtedness and accrued interest due or redeemable which may be so surrendered.

History.—s. 8, ch. 15772, 1931; CGL 1936 Supp. 2383(8).

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Amendments to 132.08

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Cases Citing Statute 132.08

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State v. Spec. Road Bridge Dist. 3 of Palm Beach, 10 So. 2d 341 (Fla. 1942).

Published | Supreme Court of Florida | 151 Fla. 531, 1942 Fla. LEXIS 1208

...ate of the refunding issue. It is contended that so much of the validating decree as includes $5160.00 interest on principal of the original bonds accruing after their maturity is violative of Section 6 of Article IX of the Constitution and Sections 132.08 and 132.14, Florida Statutes of 1941....

...g bonds. The matter of interest was left to the legislature. *533 It is quite true that Section 132.14 previously referred to requires that the principal and accrued interest on refunding bonds shall not exceed the amount of the obligation refunded. Section 132.08 also provides that refunding bonds may be exchanged for an equal amount of principal and accrued interest of the original bonds....

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