Florida Statutes
Fla. Stat. § 166.111 (2025)
Authority to borrow.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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166.111 Authority to borrow.—The governing body of every municipality may borrow money, contract loans, and issue bonds as defined in s. 166.101 from time to time to finance the undertaking of any capital or other project for the purposes permitted by the State Constitution and may pledge the funds, credit, property, and taxing power of the municipality for the payment of such debts and bonds.
Notes of Decisions
Cited in 5
cases, 1978–1991 · leading case: State v. Broward Cnty., 468 So. 2d 965 (Fla. 1985).
State v. Broward Cnty., 468 So. 2d 965 (Fla. 1985). “It is important to note at this point that we review only the issuance of revenue bonds by the County under section 166.111, Florida Statutes (1983), despite any future intention of the County to convert these bonds to industrial development revenue bonds authorized and secured…”
State v. City of Sunrise, 354 So. 2d 1206 (Fla. 1978). “" Since Article VII, Section 12(b) is the only place in the Constitution where refunding bonds are specifically authorized, we concluded that such bonds must be issued in accordance with the requirements of that section, or not at all.”
State v. City of Orlando, 576 So. 2d 1315 (Fla. 1991). “The city responds that, pursuant to the authority of section 166.111, Florida Statutes (1989), the city is authorized to issue these bonds either for the purpose of investing the proceeds at a profit or for the purpose of establishing a pool of funds to make loans to cities and…”
State v. City of Panama City Beach, 529 So. 2d 250 (Fla. 1988). “" § 166.111. Revenue bonds issued under chapter 166 are defined as "obligations of the municipality which are payable from revenues derived from sources other than ad valorem taxes on real or tangible personal property and which do not pledge the property, credit, or general tax…”
State v. City of Daytona Beach, 360 So. 2d 777 (Fla. 1978). “Section 166.111, Florida Statutes (1977), provides: Authority to borrow.”
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