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Florida Statutes, Title XVI

Florida/Statutes

← All Florida coverage

Title XVI, Teachers' Retirement System; Higher Educational Facilities Bonds

2 chapters · 81 sections in this title.

All chapters in Title XVI81 Ch 243, Higher Educational Facilities Bonds51 Ch 238, Teachers' Retirement System30

51 sections·Filtered byTitle XVI✕Ch 243✕

Fla. Stat. § 243.18 Short title
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This part may be referred to as the “Higher Educational Facilities Authorities Law.”History.—s. 1, ch. 69-345.
Fla. Stat. § 243.19 Findings and declaration of necessity
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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 …
Fla. Stat. § 243.20 Definitions
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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…
Fla. Stat. § 243.21 Creation of educational facilities authorities
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(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 …

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Fla. Stat. § 243.22 Powers of authority

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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 ad…

Fla. Stat. § 243.23 Payment of expenses

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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 un…

Fla. Stat. § 243.24 Acquisition of real property

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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…

Fla. Stat. § 243.25 Conveyance of title or interest to participating institutions

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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 b…

Fla. Stat. § 243.26 Notes of authority

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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 …

Fla. Stat. § 243.27 Revenue bonds

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(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 maxim…

Fla. Stat. § 243.28 Security of bondholders

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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 o…

Fla. Stat. § 243.29 Payment of bonds

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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 f…

Fla. Stat. § 243.30 Rates, rents, fees, and charges

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(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 pr…

Fla. Stat. § 243.31 Trust funds

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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 mo…

Fla. Stat. § 243.32 Remedies of bondholders

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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…

Fla. Stat. § 243.33 Tax exemption

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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 …

Fla. Stat. § 243.34 Refunding bonds

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(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 …

Fla. Stat. § 243.35 Legal investment

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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, …

Fla. Stat. § 243.36 Reports

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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 su…

Fla. Stat. § 243.37 State agreement

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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 …

Fla. Stat. § 243.38 Alternate means

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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 r…

Fla. Stat. § 243.39 Liberal construction

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This part, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes hereof.History.—s. 22, ch. 69-345.

Fla. Stat. § 243.40 Provisions of part controlling

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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.History.—s. 23, ch. 69-345; s. 1, ch. 77-174.

Fla. Stat. § 243.50 Short title

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Sections 243.50-243.77 may be cited as the “Higher Educational Facilities Financing Act.”History.—s. 1, ch. 2001-79.

Fla. Stat. § 243.51 Findings and declarations

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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 …

Fla. Stat. § 243.52 Definitions

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As used in ss. 243.50-243.77, the term:(1) “Authority” or “educational facilities authority” means the public corporation created by ss. 243.50-243.77.(2) “Real property” includes all lands, including improvements and fixtures thereon, and any such property appurtenant thereto, o…

Fla. Stat. § 243.53 Creation of Higher Educational Facilities Financing Authority

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(1) There is created a public body corporate and politic to be known as the Higher Educational Facilities Financing Authority. The authority is constituted as a public instrumentality and the exercise by the authority of the powers conferred by ss. 243.50-243.77 is considered to …

Fla. Stat. § 243.54 Powers of the authority

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The purpose of the authority is to assist institutions of higher education in constructing, financing, and refinancing projects throughout the state and, for this purpose, the authority may:(1) Exercise all powers granted to corporations under part I of chapter 607.(2) Have perpe…

Fla. Stat. § 243.55 Payment of expenses

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All expenses incurred in carrying out ss. 243.50-243.77 are payable solely from funds provided under the authority of ss. 243.50-243.77, and the authority may not incur any liability or obligation beyond the extent to which moneys have been provided under ss. 243.50-243.77.Histor…

Fla. Stat. § 243.56 Acquisition of real property

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The authority may directly, or by and through a participating institution as its agent, acquire by purchase or lease solely from funds provided under ss. 243.50-243.77, or by gift or devise, any lands, structures, real property, rights, rights-of-way, franchises, easements, and o…

Fla. Stat. § 243.57 Conveyance of title or interest to participating institutions

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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, including any revenue refunding bonds issued to refund and refinance the revenue bonds, have been fully paid and ret…

Fla. Stat. § 243.58 Criteria and requirements

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In undertaking any project under ss. 243.50-243.77, the authority shall be guided by and shall observe the following criteria and requirements:(1) The project, in the determination of the authority, is appropriate to the needs and circumstances of, and shall make a significant co…

Fla. Stat. § 243.59 Approval required to issue bonds

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The authority is created for the purpose of promoting higher education and issuing bonds on behalf of the state, and the Governor may approve any bonds issued by the authority which require approval under federal law.History.—s. 10, ch. 2001-79.

Fla. Stat. § 243.60 Notes of authority

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The authority may issue its negotiable notes for any corporate purpose and renew 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 outstandin…

Fla. Stat. § 243.61 Revenue bonds

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(1) The authority may issue its negotiable revenue bonds for any corporate purpose, including the provision of funds to pay all or any part of the cost of any project. In anticipation of the sale of revenue bonds, the authority may issue negotiable bond anticipation notes and may…

Fla. Stat. § 243.62 Covenants

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Any resolution authorizing the issuance of bonds may contain any covenants the authority considers advisable, including those provisions set forth in s. 243.61(5), and all those covenants constitute valid and legally binding and enforceable contracts between the authority and the…

Fla. Stat. § 243.63 Validation

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Bonds issued pursuant to this act may be validated in the manner provided by law through proceedings instituted by the authority under chapter 75. In actions to validate bonds to be issued pursuant to this act, the complaint shall be filed in the circuit court of the county where…

Fla. Stat. § 243.64 Act furnishes full authority for issuance of bonds

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Sections 243.50-243.77 constitute full authority for the issuance of bonds and the exercise of the powers of the authority provided in ss. 243.50-243.77. Any bonds issued by the authority are not secured by the full faith and credit of the state and do not constitute an obligatio…

Fla. Stat. § 243.65 Security of bondholders

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In the discretion of the authority, any revenue bonds issued under ss. 243.50-243.77 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…

Fla. Stat. § 243.66 Payment of bonds

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Revenue bonds issued under ss. 243.50-243.77 are not a debt or liability of the authority, any municipality, the state, or any political subdivision thereof, and are not a pledge of the faith and credit of the state, the authority, any municipality, or any political subdivision t…

Fla. Stat. § 243.67 Rates, rents, fees, and charges

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(1) The participating institution may 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 may contract with any person, partnership, association, corporation, or other body, public o…

Fla. Stat. § 243.68 Trust funds

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All moneys received under ss. 243.50-243.77, whether as proceeds from the sale of bonds or as revenues, are considered to be trust funds to be held and applied solely as provided in ss. 243.50-243.77. Any officer with whom, or any bank or trust company with which, the moneys are …

Fla. Stat. § 243.69 Remedies of bondholders

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Any holder of revenue bonds issued under ss. 243.50-243.77 or any of the coupons appertaining thereto, and the trustee or trustees under any trust agreement, except to the extent the rights given may be restricted by any resolution authorizing the issuance of, or any such trust a…

Fla. Stat. § 243.70 Tax exemption

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The exercise of the powers granted by ss. 243.50-243.77 is in all respects for the benefit of the people of this state. Because the operation and maintenance of a project by the authority or a participating institution constitutes the performance of an essential public function, …

Fla. Stat. § 243.71 Refunding bonds

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(1) The authority may 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 subs…

Fla. Stat. § 243.72 Legal investment

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Bonds issued by the authority under ss. 243.50-243.77 are made securities in which all public officers and public bodies of the state and its political subdivisions, and all insurance companies, trust companies, banking associations, investment companies, executors, administrator…

Fla. Stat. § 243.73 Reports; audits

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(1) The authority shall submit to the Governor and the presiding officers of each house of the Legislature, within 6 months after the end of its fiscal year, a complete and detailed report setting forth:(a) Its operations and accomplishments.(b) Its receipts and expenditures duri…

Fla. Stat. § 243.74 State agreement

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The state agrees with the holders of any obligations issued under ss. 243.50-243.77, and with those parties who may enter into contracts with the authority under ss. 243.50-243.77, that the state will not limit or alter the rights vested in the authority until the obligations, to…

Fla. Stat. § 243.75 Alternative means

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Sections 243.50-243.77 provide an additional and alternative method for the doing of the things authorized, and shall be regarded as supplemental and additional to powers conferred by other laws; but, except as otherwise specifically provided in ss. 243.50-243.77, the issuance of…

Fla. Stat. § 243.76 Liberal construction

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Sections 243.50-243.77 shall be liberally construed to effectively carry out their purpose.History.—s. 27, ch. 2001-79.