Sec. 2-612. - Board authorized to issue revenue bonds.
Sec. 2-613. - Payment of principal.
Sec. 2-614. - Obligations declared negotiable instruments.
Sec. 2-617. - Security of obligations.
Sec. 2-618. - Refunding obligations.
Sec. 2-619. - Effect on other legislation.
Sec. 2-620. - Powers exercised by board.
Secs. 2-621—2-630. - Reserved.
The Board of County Commissioners is hereby authorized to acquire, construct, improve and equip county capital projects (hereinafter called "projects").
(Ord. No. 82-47, § 1)
Sec. 2-612. - Board authorized to issue revenue bonds.
To pay the cost of the projects and other costs incidental and appurtenant thereto, the board is authorized to issue revenues bonds from time to time (hereinafter called "obligations"). Such obligations may be issued in coupon form or fully registered form and may be in such denomination or denominations, bear interest at such rate or rates and shall mature at such time or times not exceeding 40 years from their date or dates as may be determined by the board. The obligations may be made redeemable before maturity, at the option of the board, at such price or prices and under such terms and conditions as may be fixed by the board prior to their issuance. The board shall determine the place or places of payment of the principal and interest which may be at any bank or trust company within or without the state. The obligations shall be signed either by manual or facsimile signatures of the chairman and clerk of the board, provided that such obligations shall bear at least one signature which is manually executed thereon. The coupons attached to such obligations shall bear the facsimile signature or signatures of such officer or officers as shall be designated by the board. The obligations shall have the seal of the board affixed, imprinted, reproduced or lithographed thereon, all as may be prescribed in the resolution or resolutions authorizing the issuance thereof. The obligations may be sold at public or private sale at such price or prices as the board shall determine to be in its best interest.
(Ord. No. 82-47, § 2)
Sec. 2-613. - Payment of principal.
The principal of an interest on the obligations issued under this division shall be payable from all or any portion of the funds of the county derived from sources other than ad valorem taxation and legally available for such purpose (hereinafter called "nonad valorem funds").
(Ord. No. 82-47, § 3)
Sec. 2-614. - Obligations declared negotiable instruments.
The obligations shall be and they are hereby constituted negotiable instruments under the law merchant and the laws of the state.
(Ord. No. 82-47, § 4)
No referendum in the county shall be required for the exercise of any of the provisions of this division unless such referendum is required by the Constitution of Florida.
(Ord. No. 82-47, § 5)
The cost of the projects may be deemed to also include but not be limited to, the cost of acquisition of sites; legal, engineering, fiscal, architectural fees and fees of any other experts or consultants employed by the board; engineering or architectural studies; surveys, plans and designs for the projects; provisions for capitalization of interest for a reasonable period after issuance of the obligations and for debt service reserves; premiums for municipal bond insurance policies; the expense of the issuance, authorization and sale of the obligations, including advertisements, notices and other proceedings in connection therewith; reimbursement to the county for any temporary funding of the projects; payment of principal of and interest on and costs and expenses of issuance of any short-term financing, pending issuance of the obligations; the discount on the sale of the obligations, if any; and such other expenses as are necessary, incidental or appurtenant to the purposes authorized hereunder.
(Ord. No. 82-47, § 6)
Sec. 2-617. - Security of obligations.
The county does hereby covenant with holders of obligations issued pursuant to this division that it will not enact any ordinance which will repeal, impair or amend in any manner the rights of such holders of the obligations or the security of the funds which may be pledged to the payment of principal of and interest on obligations issued pursuant to this division.
(Ord. No. 82-47, § 7)
Sec. 2-618. - Refunding obligations.
The county may, by resolution, issue obligations to refund any obligations issued pursuant to this division and provide for the rights of the holders thereof. Such refunding obligations may be issued in an amount, together with the investment income thereon, sufficient to pay:
(1)
The principal of the outstanding obligations;
(2)
The interest due and payable on the outstanding obligations to and including any date upon which the outstanding obligations shall be callable prior to maturity or the dates upon which the principal thereof shall mature before the same are callable prior to maturity;
(3)
The redemption premium, if any; and
(4)
Any expenses of the issuance and sale of such refunding obligations.
(Ord. No. 82-47, § 8)
Sec. 2-619. - Effect on other legislation.
This division shall not be deemed to repeal or supersede any other law or laws but shall be considered as supplemental and additional authority for the board to carry out and perform the powers authorized herein.
(Ord. No. 82-47, § 9)
Sec. 2-620. - Powers exercised by board.
All power and authority granted to the county by the provisions of this division shall be exercised by the board or its successors as the governing body of the county.
(Ord. No. 82-47, § 10)