HB 1093

1	A bill to be entitled
2	An act relating to the issuance of bonds; amending s.
3	1010.49, F.S.; revising provisions relating to the
4	schedule of maturities, the time period for retirement,
5	and the calling of bonds issued by a district school
6	board; providing an effective date.
7
8	Be It Enacted by the Legislature of the State of Florida:
9
10	Section 1.  Section 1010.49, Florida Statutes, is amended
11	to read:
12	1010.49  Form and denomination of bonds.-The district
13	school board may prescribe the denomination of the bonds to be
14	issued, and such bonds may be issued with or without interest
15	coupons in the discretion of the board. The form of the bonds to
16	be issued may be prescribed by the State Board of Education on
17	the recommendation of the Department of Legal Affairs. The
18	schedule of maturities of the proposed bonds shall be determined
19	by the district school board so arranged that the total payments
20	required each year shall be as nearly equal as practicable. The
21	schedule shall provide that all bonds are to be retired within a
22	period of 30 20 years from the date of issuance unless a longer
23	period is required and has been specifically approved by the
24	Department of Education. All bonds issued under this section
25	that bear interest in excess of 2.99 percent shall be callable
26	at the times and on the terms prescribed by the district school
27	board beginning not later than 10 years from the date of
28	issuance.
29	Section 2.  This act shall take effect July 1, 2011.

CODING: Words stricken are deletions; words underlined are additions.