Florida Statute 159.827 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XI
COUNTY ORGANIZATION AND INTERGOVERNMENTAL RELATIONS

Chapter 159
BOND FINANCING

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F.S. 159.827

159.827 Pledging credit.—

(1) The issuance of taxable bonds by a governmental unit for any purpose permitted under the statutes under authority of which such taxable bonds are issued is declared to constitute a lawful and public purpose. So long as the payment of such taxable bonds is not secured by a pledge of any ad valorem taxing power of the governmental unit issuing such taxable bonds or by any revenues of such governmental unit derived other than from the sale, operation, or leasing of the project financed with such taxable bonds or from the investment or reinvestment of proceeds of such taxable bonds, such taxable bonds shall not constitute on the part of any such governmental unit a lending or using of its taxing power or credit to or for the benefit of any corporation, association, partnership, or person.

(2) When the governing body of the governmental unit issuing the bonds finds and determines that the issuance of the bonds serves a public purpose, the issuance of the bonds shall be deemed to be for a paramount public purpose and the investment of bond proceeds, moneys from which such bonds are payable, and moneys pledged as security therefor in securities and obligations of any corporation, association, partnership, or person shall be deemed to be merely incidental to the paramount public purpose of the borrowing.

History.—s. 1, ch. 87-237.

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Amendments to 159.827

Arrestable Offenses / Crimes under Fla. Stat. 159.827

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 159.827.

Annotations, Discussions, Cases:

Cases Citing Statute 159.827

Total Results: 1

State v. City of Panama City Beach

Court: Fla. | Date Filed: 1988-05-26T00:53:00-07:00

Citation: 529 So. 2d 250

Snippet: issued by Panama City Beach. In addition, section 159.827(2), Florida Statutes (1987), provides: (2) When…serve important public purposes." Subsection 159.827(1) provides that the "issuance of taxable …constitute a lawful and public purpose." Section 159.827 goes on to provide: (2) When the governing body…permitted purpose to be a lawful and public purpose. § 159.827(1), Fla. Stat. (1987). In general, a legislative… being incidental to a public purpose (section 159.827(2)), the public purpose is incidental to the financing