Syfert Injury Law Firm

Your Trusted Partner in Personal Injury & Workers' Compensation

Call Now: 904-383-7448
Florida Statute 163.385 - Full Text and Legal Analysis
Florida Statute 163.385 | Lawyer Caselaw & Research
Link to State of Florida Official Statute
F.S. 163.385 Case Law from Google Scholar Google Search for Amendments to 163.385

The 2025 Florida Statutes

Title XI
COUNTY ORGANIZATION AND INTERGOVERNMENTAL RELATIONS
Chapter 163
INTERGOVERNMENTAL PROGRAMS
View Entire Chapter
F.S. 163.385
163.385 Issuance of revenue bonds.
(1)(a) When authorized or approved by resolution or ordinance of the governing body, a county, municipality, or community redevelopment agency has power in its corporate capacity, in its discretion, to issue redevelopment revenue bonds from time to time to finance the undertaking of any community redevelopment under this part, including, without limiting the generality thereof, the payment of principal and interest upon any advances for surveys and plans or preliminary loans, and has power to issue refunding bonds for the payment or retirement of bonds or other obligations previously issued. For any agency created before July 1, 2002, any redevelopment revenue bonds or other obligations issued to finance the undertaking of any community redevelopment under this part shall mature within 60 years after the end of the fiscal year in which the initial community redevelopment plan was approved or adopted. For any agency created on or after July 1, 2002, any redevelopment revenue bonds or other obligations issued to finance the undertaking of any community redevelopment under this part shall mature within 40 years after the end of the fiscal year in which the initial community redevelopment plan is approved or adopted. However, in no event shall any redevelopment revenue bonds or other obligations issued to finance the undertaking of any community redevelopment under this part mature later than the expiration of the plan in effect at the time such bonds or obligations were issued. The security for such bonds may be based upon the anticipated assessed valuation of the completed community redevelopment and such other revenues as are legally available. Any bond, note, or other form of indebtedness pledging increment revenues to the repayment thereof shall mature no later than the end of the 30th fiscal year after the fiscal year in which increment revenues are first deposited into the redevelopment trust fund or the fiscal year in which the plan is subsequently amended. However, for any agency created on or after July 1, 2002, any form of indebtedness pledging increment revenues to the repayment thereof shall mature by the 40th year after the fiscal year in which the initial community redevelopment plan is approved or adopted. However, any refunding bonds issued pursuant to this paragraph may not mature later than the final maturity date of any bonds or other obligations issued pursuant to this paragraph being paid or retired with the proceeds of such refunding bonds.
(b) In anticipation of the sale of revenue bonds pursuant to paragraph (a), the county, municipality, or community redevelopment agency may issue bond anticipation notes and may renew such notes from time to time, but the maximum maturity of any such note, including renewals thereof, may not exceed 5 years from the date of issue of the original note. Such notes shall be paid from any revenues of the county, municipality, or community redevelopment agency available therefor and not otherwise pledged or from the proceeds of sale of the revenue bonds in anticipation of which they were issued.
(2) Bonds issued under this section do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction, and are not subject to the provisions of any other law or charter relating to the authorization, issuance, or sale of bonds. Bonds issued under the provisions of this part are declared to be issued for an essential public and governmental purpose and, together with interest thereon and income therefrom, are exempted from all taxes, except those taxes imposed by chapter 220 on interest, income, or profits on debt obligations owned by corporations.
(3) Bonds issued under this section shall be authorized by resolution or ordinance of the governing body; may be issued in one or more series; and shall bear such date or dates, be payable upon demand or mature at such time or times, bear interest at such rate or rates, be in such denomination or denominations, be in such form either with or without coupon or registered, carry such conversion or registration privileges, have such rank or priority, be executed in such manner, be payable in such medium of payment at such place or places, be subject to such terms of redemption (with or without premium), be secured in such manner, and have such other characteristics as may be provided by such resolution or ordinance or by a trust indenture or mortgage issued pursuant thereto. Bonds issued under this section may be sold in such manner, either at public or private sale, and for such price as the governing body may determine will effectuate the purpose of this part.
(4) In case any of the public officials of the county, municipality, or community redevelopment agency whose signatures appear on any bonds or coupons issued under this part cease to be such officials before the delivery of such bonds, such signatures are, nevertheless, valid and sufficient for all purposes, the same as if such officials had remained in office until such delivery.
(5) In any suit, action, or proceeding involving the validity or enforceability of any bond issued under this part, or the security therefor, any such bond reciting in substance that it has been issued by the county, municipality, or community redevelopment agency in connection with community redevelopment, as herein defined, shall be conclusively deemed to have been issued for such purpose, and such project shall be conclusively deemed to have been planned, located, and carried out in accordance with the provisions of this part.
(6) Subsections (1), (4), and (5), as amended by s. 14, chapter 84-356, Laws of Florida, do not apply to any governing body of a county or municipality or to a community redevelopment agency if such governing body or agency has adopted an ordinance or resolution authorizing the issuance of any bonds, notes, or other forms of indebtedness to which is pledged increment revenues pursuant only to a community redevelopment plan as approved and adopted before chapter 84-356 became a law.
History.s. 12, ch. 69-305; s. 12, ch. 73-302; s. 2, ch. 76-147; s. 10, ch. 77-391; s. 77, ch. 79-400; ss. 14, 22, ch. 84-356; s. 6, ch. 93-286; s. 9, ch. 94-236; s. 15, ch. 95-310; s. 7, ch. 2002-294.

F.S. 163.385 on Google Scholar

F.S. 163.385 on CourtListener

Amendments to 163.385


Annotations, Discussions, Cases:

Cases Citing Statute 163.385

Total Results: 6

State v. Miami Beach Redevelopment Agency

392 So. 2d 875

Supreme Court of Florida | Filed: Dec 11, 1980 | Docket: 1678416

Cited 46 times | Published

interested persons to participate in redevelopment. Section 163.385 provides the authority for the issuance of

Panama City Beach Community Redevelopment Agency v. State

831 So. 2d 662, 27 Fla. L. Weekly Supp. 883, 2002 Fla. LEXIS 2177, 2002 WL 31317951

Supreme Court of Florida | Filed: Oct 17, 2002 | Docket: 1388309

Cited 7 times | Published

these areas. Germane to the instant case is section 163.385(1)(a), which states: When authorized or approved

Ago

Florida Attorney General Reports | Filed: Jun 19, 2009 | Docket: 3257933

Published

Fla. Stat. 7 Section 163.370, Fla. Stat. 8 Section 163.385, Fla. Stat. 9 Section 163.400, Fla. Stat. 10

Ago

Florida Attorney General Reports | Filed: Jul 29, 2002 | Docket: 3256605

Published

the fiscal year in which they are approved. Section 163.385, Florida Statutes, gives local governmental

Ago

Florida Attorney General Reports | Filed: Apr 24, 2001 | Docket: 3257387

Published

Fla. Stat. 7 Section 163.370, Fla. Stat. 8 Section 163.385, Fla. Stat. 9 Section 163.400, Fla. Stat. 10

Ago

Florida Attorney General Reports | Filed: Feb 4, 1982 | Docket: 3257652

Published

its undertaking of a redevelopment project. Section 163.385(1), F.S. Finally, the governing body of the