§ 262-637. Bonds.

(a)

The district may, from time to time, issue bonds to pay the costs and expenses, other than operating expenses, incurred in carrying out the purposes of this Act or to refund and/or refinance revenue bonds of the district issued pursuant to this Act. In anticipation of the sale of such bonds, the district may issue bond anticipation notes and/or commercial paper or similar obligations, and may renew the same from time to time. Such notes and/or obligations may be paid from the revenues derived by the district from the proceeds of the sale of the bonds of the district in anticipation of which they were issued. The notes and/or obligations shall be issued in the same manner as the bonds. Bonds and notes shall be, and shall be deemed to be, for all purposes, negotiable instruments.

(b)

The bonds may be issued as serial bonds or as term bonds or the district, in its discretion, may issue bonds of both types. The district may issue capital appreciation bonds or variable rate bonds. The bonds shall be authorized by resolution of the board and shall bear such date or dates; mature at such time or times, not exceeding 30 years from their respective dates; bear interest at such rate or rates; be payable at such time or times; be in such denomination; be in such form; carry such registration privileges; be executed in such manner; be payable from such sources and in such medium of payment and at such place or places; and be subject to such terms of redemption, including redemption prior to maturity, as such resolution or resolutions may provide. If any officer whose signature, or a facsimile of whose signature, appears on any bonds or coupons ceases to be such officer before the delivery date of such bonds, such signature or facsimile shall nevertheless be valid and sufficient for all purposes as if he or she had remained in office until the delivery. The bonds or notes may be sold at public or private sale for such price or prices as the board shall determine. Pending preparation of the definitive bonds, the district may issue interim receipts or certificates which shall be exchanged for such definitive bonds. The bonds may be secured by such form of credit enhancement, if any, as the board deems appropriate. The bonds may be secured by an indenture of trust or trust agreement.

(c)

The bonds may be validated, at the discretion of the board, pursuant to F.S. Ch. 75. Florida Statutes § 75.04(2), shall not apply to bonds validated pursuant to F.S. Ch. 75.

(Laws of Fla. ch. 2003-353, § 3)