Florida Statute 218.25 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XIV
TAXATION AND FINANCE

Chapter 218
FINANCIAL MATTERS PERTAINING TO POLITICAL SUBDIVISIONS

View Entire Chapter

F.S. 218.25

218.25 Limitation of shared funds; holders of bonds protected; limitation on use of second guaranteed entitlement for counties.—

(1) Except as provided in subsection (2) with respect to the second guaranteed entitlement for counties, local governments shall not use any portion of the moneys received in excess of the guaranteed entitlement from the revenue sharing trust funds created by this part to assign, pledge, or set aside as a trust for the payment of principal or interest on bonds, tax anticipation certificates, or any other form of indebtedness, and there shall be no other use restriction on revenues shared pursuant to this part. The state does hereby covenant with holders of bonds or other instruments of indebtedness issued by local governments prior to July 1, 1972, that it is not the intent of this part to affect adversely the rights of said holders or to relieve local governments of the duty to meet their obligations as a result of previous pledges or assignments or trusts entered into which obligated funds received from revenue sources which by terms of this part shall henceforth be distributed out of the revenue sharing trust funds.

(2) The second guaranteed entitlement for counties may be assigned, pledged, or set aside as a trust for the payment of principal or interest on bonds, tax anticipation certificates, or any other form of indebtedness, including obligations issued to acquire an insurance contract or contracts from a local government liability pool and including payments required pursuant to any loan agreement entered into to provide funds to acquire an insurance contract or contracts from a local government liability pool.

(3) As an additional assurance to holders of bonds issued before April 18, 2000, which are secured by the guaranteed entitlement or second guaranteed entitlement for counties, or bonds issued to refund such bonds which mature no later than the bonds that they refunded and which result in a reduction of debt service payable in each fiscal year, it is the intent of the Legislature that, to the extent the elimination of tax sources dedicated to funding the guaranteed entitlement or the second guaranteed entitlement for counties or a reduction in the rate of assessment of such taxes results in an inability of a county to pay debt service on such bonds, the Legislature will provide alternative funding sources in an amount sufficient to pay any deficit in the amount required for such debt service. This commitment of the Legislature is contingent on the county first using any funds available under this part for the payment of such debt service.

(4) Notwithstanding subsections (1) and (2), a local government may assign, pledge, or set aside as a trust for the payment of principal or interest on bonds, tax anticipation certificates, or any other form of indebtedness an amount up to 50 percent of the funds received in the prior year.

History.—s. 1, ch. 72-360; s. 1, ch. 73-349; s. 1, ch. 74-194; s. 9, ch. 87-237; s. 11, ch. 2000-173; s. 96, ch. 2003-402.

F.S. 218.25 on Google Scholar

F.S. 218.25 on Casetext

Amendments to 218.25

Arrestable Offenses / Crimes under Fla. Stat. 218.25

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 218.25.

Annotations, Discussions, Cases:

Cases Citing Statute 218.25

Total Results: 8

Sainz v. State

Court: Fla. Dist. Ct. App. | Date Filed: 2002-03-12T23:53:00-08:00

Citation: 811 So. 2d 683

Snippet: Criminal Courts of Florida, 14 Fla. L.Rev. 213, 218-25 (1961). Under this procedure, the withheld sentence

Sainz v. State

Court: Fla. Dist. Ct. App. | Date Filed: 2001-11-28T00:00:00-08:00

Citation: 811 So. 2d 674, 2001 Fla. App. LEXIS 16666, 2001 WL 1502859

Snippet: Criminal Courts of Florida, 14 Fla. L.Rev. 213, 218-25 (1961). In this situation, the withheld sentence

Ago

Court: Fla. Att'y Gen. | Date Filed: 1994-04-05T00:53:00-07:00

Snippet: counties to secure debts is addressed in section 218.25, Florida Statutes.5 The statute limits a county…Section 218.21(7), Fla. Stat. (1993). 5 Section 218.25, Fla. Stat. (1993), provides: (1) Except as provided

Ago

Court: Fla. Att'y Gen. | Date Filed: 1986-05-21T00:53:00-07:00

Snippet: in s. 218.25, F.S. See also, AGO's 78-110, 77-14, 73-305. Cf., AGO 82-94 (reading ss. 218.25 and 206.605…for eligible counties in subsection (2). Section 218.25 restricts the use of moneys received in excess …donate revenue sharing monies (as restricted by s. 218.25, F.S.) to a nonprofit senior citizens organization

Ago

Court: Fla. Att'y Gen. | Date Filed: 1982-11-03T23:53:00-08:00

Snippet: additional provisions. Section 218.25, F.S., now reads in pertinent part: 218.25 Limitation of shared funds…4th rev. ed 1972). When the Legislature amended s 218.25, F.S. in 1973 to include the language `and there…already set out in s 206.605(3), F.S. Reading ss 218.25 and 206.605(3), F.S., together, a local government…would, therefore, be prohibited. Additionally, s 218.25, F.S., clearly prohibits the use of any moneys …sharing trust fund for the purposes prohibited by s 218.25, F.S. Sincerely, Jim Smith, Attorney General Prepared

Ago

Court: Fla. Att'y Gen. | Date Filed: 1979-02-28T23:53:00-08:00

Snippet: ., defines `guaranteed entitlement,' and s. 218.25, F. S., in relevant part, provides: Local

Ago

Court: Fla. Att'y Gen. | Date Filed: 1978-08-16T00:53:00-07:00

Snippet: entitlement, see s. 218.23(2)(b), F. S. Section 218.25 restricts the use of moneys received in excess … Sharing Act, subject to the restrictions of s. 218.25, F. S., to secure a loan to purchase real property

Ago

Court: Fla. Att'y Gen. | Date Filed: 1977-02-08T23:53:00-08:00

Snippet: sharing funds, subject to restrictions found in ss. 218.25, 130.012, and 215.685, F. S., with the first installment…), defines `guaranteed entitlement,' and s. 218.25 provides in part: Local government shall not…contemplated subject to the restriction found in s. 218.25. Prepared by: Larry Levy Assistant Attorney General