Article VII Section 12 Florida Constitution – Local Bonds

Article VII Section 12 Florida Constitution

Article VII Section 12 Florida Constitution is about Local Bonds. Article VII is titled Finance and Taxation, it has 19 sections.

Counties, school districts, municipalities, special districts and local governmental bodies with taxing powers may issue bonds, certificates of indebtedness or any form of tax anticipation certificates, payable from ad valorem taxation and maturing more than twelve months after issuance only:

(a) to finance or refinance capital projects authorized by law and only when approved by vote of the electors who are owners of freeholds therein not wholly exempt from taxation; or

(b) to refund outstanding bonds and interest and redemption premium thereon at a lower net average interest cost rate.

See also: Article VII Section 11 Florida Constitution

See also  Article VIII Section 24 Florida Constitution - Hillsborough County, Home Rule Charter

Published by

LawGlobal Hub

LawGlobal Hub is your innovative global resource of law and more. Among other things, we ensure easy accessibility to the laws of countries around the world.

Leave a Reply

Your email address will not be published. Required fields are marked *