Fla. Stat. § 243.18
Short title
This part may be referred to as the “Higher Educational Facilities Authorities Law.”
Florida Statutes Chapter 243 — HIGHER EDUCATIONAL FACILITIES BONDS
Florida · statute · Fla. Stat. ch. 243 · 51 active provisions
Fla. Stat. § 243.19
Findings and declaration of necessity
It is declared that for the benefit of the people of the state, the increase of their commerce, welfare, and prosperity, and the improvement of their health and living conditions, it is essential that this and future generations of youth be given the fullest opportunity to learn and to develop their intellectual and me…
Fla. Stat. § 243.20
Definitions
The following terms, wherever used or referred to in this part shall have the following respective meanings, unless a different meaning clearly appears from the context:(1) “Authority” or “educational facilities authority” means any of the public corporations created by s. 243.21 or any board, body, commission, departm…
Fla. Stat. § 243.21
Creation of educational facilities authorities
(1) In each county there is hereby created a public body corporate and politic to be known as the “ County Educational Facilities Authority.” Each of said authorities is constituted as a public instrumentality and the exercise by an authority of the powers conferred by this part shall be deemed and held to be the perfo…
Fla. Stat. § 243.22
Powers of authority
The purpose of the authority shall be to assist institutions for higher education in the construction, financing, and refinancing of projects, and for this purpose the authority is authorized and empowered:(1) To have perpetual succession as a body politic and corporate and to adopt bylaws for the regulation of its aff…
Fla. Stat. § 243.23
Payment of expenses
All expenses incurred in carrying out the provisions of this part shall be payable solely from funds provided under the authority of this part, and no liability or obligation shall be incurred by an authority hereunder beyond the extent to which moneys shall have been provided under the provisions of this part.
Fla. Stat. § 243.24
Acquisition of real property
The authority is authorized and empowered, directly or by and through a participating institution for higher education as its agent, to acquire by purchase solely from funds provided under the authority of this part, or by gift or devise, such lands, structures, property, real or personal, rights, rights-of-way, franch…
Fla. Stat. § 243.25
Conveyance of title or interest to participating institutions
When the principal of and interest on revenue bonds of the authority issued to finance the cost of a particular project or projects at a participating institution for higher education, including any revenue refunding bonds issued to refund and refinance such revenue bonds, have been fully paid and retired or when adequ…
Fla. Stat. § 243.26
Notes of authority
The authority is authorized from time to time to issue its negotiable notes for any corporate purpose and renew from time to time any notes by the issuance of new notes, whether the notes to be renewed have or have not matured. The authority may issue notes partly to renew notes or to discharge other obligations then o…
Fla. Stat. § 243.27
Revenue bonds
(1) The authority is authorized from time to time to issue its negotiable revenue bonds for any corporate purpose. In anticipation of the sale of such revenue bonds, the authority may issue negotiable bond anticipation notes and may renew the same from time to time, but the maximum maturity of any such note, including…
Fla. Stat. § 243.28
Security of bondholders
In the discretion of the authority any revenue bonds issued under the provisions of this part may be secured by a trust agreement by and between the authority and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without the state. Such trust agreemen…
Fla. Stat. § 243.29
Payment of bonds
Revenue bonds issued under the provisions of this part shall not be deemed to constitute a debt or liability of the state or of the county or a pledge of the faith and credit of the state or of any such county, but shall be payable solely from the funds herein provided therefor from revenues. All such revenue bonds sha…
Fla. Stat. § 243.30
Rates, rents, fees, and charges
(1) The authority is authorized to fix, revise, charge and collect rates, rents, fees and charges for the use of and for the services furnished or to be furnished by each project and to contract with any person, partnership, association or corporation, or other body, public or private, in respect thereof. Such rates, r…
Fla. Stat. § 243.31
Trust funds
All moneys received pursuant to the authority of this part, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this part. Any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as tru…
Fla. Stat. § 243.32
Remedies of bondholders
Any holder of revenue bonds issued under the provisions of this part or any of the coupons appertaining thereto, and the trustee or trustees under any trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, or any such trust agreement securing, such…
Fla. Stat. § 243.33
Tax exemption
The exercise of the powers granted by this part will be in all respects for the benefit of the people of this state, for the increase of their commerce, welfare and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of a project by the authority or its agent…
Fla. Stat. § 243.34
Refunding bonds
(1) The authority is hereby authorized to provide for the issuance of revenue bonds of the authority for the purpose of refunding any revenue bonds of the authority then outstanding, including the payment of any redemption premium thereon and any interest accrued or to accrue to the earliest or subsequent date of redem…
Fla. Stat. § 243.35
Legal investment
Bonds issued by the authority under the provisions of this part are hereby made securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduc…
Fla. Stat. § 243.36
Reports
Within the first 90 days of each calendar year, the authority shall make a report to the governing body of the county of its activities for the preceding calendar year. Each such report shall set forth a complete operating and financial statement covering its operations during such year. The authority shall cause an au…
Fla. Stat. § 243.37
State agreement
The state does hereby pledge to and agree with the holders of any obligations issued under this part, and with those parties who may enter into contracts with an authority pursuant to the provisions of this part, that the state will not limit or alter the rights hereby vested in the authority until such obligations, to…
Fla. Stat. § 243.38
Alternate means
The foregoing sections of this part shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby, and shall be regarded as supplemental and additional to powers conferred by other laws; provided the issuance of revenue bonds and revenue refunding bonds under the provisi…
Fla. Stat. § 243.39
Liberal construction
This part, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes hereof.
Fla. Stat. § 243.40
Provisions of part controlling
To the extent that the provisions of this part are inconsistent with the provisions of any general statute or special act or parts thereof, the provisions of this part shall be deemed controlling.
Fla. Stat. § 243.50
Short title
Sections 243.50-243.77 may be cited as the “Higher Educational Facilities Financing Act.”
Fla. Stat. § 243.51
Findings and declarations
It is the purpose of ss. 243.50-243.77 to provide assistance and an alternative method for enabling private institutions of higher education in this state to provide the facilities and structures that they need and to enable those institutions to coordinate their budgetary needs with the timing of receipt of tuition re…
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