CopyCited 8 times | Published | Supreme Court of Florida | 11 Fla. L. Weekly 10
...ded debt as it chose without approval of the voters, subject only to obtaining a lower interest rate on the refunded debt. In my view, the majority's application of "refunding" is contrary to the constitution. It is also contrary to sections
132.11,
132.14, and
215.79(2), Florida Statutes (1983), all of which bear on the question of the amount to be refunded, redeemed, or exchanged....
...Section
132.11, entitled Amount of refunding bonds to be sold, limits the amount to that "necessary to provide for the matured bonds and legally incurred interest and of such unmatured bonds as the holders thereof have agreed in writing to surrender." Section
132.14, entitled Exchange in lieu of sale, states "[t]he principal and accrued interest of the refunding bonds shall not exceed the amount of the obligations refunded." Section
215.79(2), entitled Refunding bonds, permits an increase in the a...
CopyPublished | Supreme Court of Florida | 151 Fla. 531, 1942 Fla. LEXIS 1208
...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....
...Section 6 of Article IX of the Constitution has no direct specification as to interest on bonds after maturity. Its purpose was to require an approving vote of the taxpayers on all bond issues except refunding 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....
