§ 255.52, Fla. Stat. · Chapter 255. PUBLIC PROPERTY AND PUBLICLY OWNED BUILDINGS
Approval by State Board of Administration.
Text — 2026 Florida Statutes
At or prior to the sale by the division, all obligations proposed to be issued by the division shall be approved by the State Board of Administration as to fiscal sufficiency. The State Board of Administration shall look to the rate coverage of all pool pledged revenues, as projected by the Department of Management Services, with respect to all proposed and outstanding obligations issued under this act:
(1) One hundred and ten percent of debt service charges; plus
(2) One hundred percent of capital depreciation reserved deposits, if any; plus
(3) One hundred percent of costs of operation and maintenance.
With respect to variable rate obligations, such evaluation shall be made at the interest rate for the date of sale determined as provided in s. 255.519.
Notes and commentary — not statutory text
History
s. 19, ch. 85-349; s. 3, ch. 86-222; s. 37, ch. 98-279.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0255/0255.html
- Text hash
- sha256 122bac564cb3c72de5d6eabab1e2246a7e8330e6291aac36ac962683b6f7b70a
- 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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The Florida Statutes
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