§ 1010.53, Fla. Stat. · Part IV. PROVISIONS RELATING TO BONDING
Proceeds; how expended.
Text — 2026 Florida Statutes
The proceeds derived from the sale of the bonds shall be held by the district school board and shall be expended by the board for the purpose for which the bonds were authorized for the school district, and shall be held and expended in the manner following:
(1) The district school board shall deposit, or cause to be deposited, the proceeds arising from the sale of each issue of bonds in a separate bond construction fund account in the school depository.
(2) All or any part of the fund derived from the proceeds of any such bond issue that in the judgment of the district school board is not immediately needed may be placed in the following securities maturing not later than the time when the funds are reasonably expected to be needed:
(a) In investments listed in s. 218.415(16).
(b) In any bonds issued by the district; provided, such bonds are not in default and can be obtained at a price which will result in a net saving to the taxpayers of the district.
(c) In any obligations of the district school board approved in accordance with the provisions of ss. 1011.13, 1011.14, and 1011.15.
(d) In any bonds issued by the State Board of Education or another school district.
Notes and commentary — not statutory text
History
s. 562, ch. 2002-387.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=1000-1099/1010/1010.html
- Text hash
- sha256 51d0616cbc3d6e9ce1f8a40ed3f2acca24ad4627962620cefa067d9633375ff6
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
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This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
The Florida Statutes
- § 218.415, Fla. Stat.Local government investment policies.Printed as s. 218.415(16)
- § 1011.13, Fla. Stat.Current loans authorized under certain conditions.Printed as ss. 1011.13, 1011.14, and 1011.15
- § 1011.14, Fla. Stat.Obligations for a period of 1 year.Printed as ss. 1011.13, 1011.14, and 1011.15
- § 1011.15, Fla. Stat.Obligations to eliminate major emergency conditions.Printed as ss. 1011.13, 1011.14, and 1011.15
Cited by 1 provision
Provisions in this library whose text cites § 1010.53, Fla. Stat.. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.