Effective July 1, 1988, transportation corporations created pursuant to the Florida Transportation Corporation Act shall not be empowered or authorized to enter into any agreement or arrangement for the purpose of facilitating the issuance of debt in any form, including without limitation certificates of participation or substitutes for debt such as lease-purchase arrangements, except when the debt is authorized for issuance by the Division of Bond Finance in accordance with the State Bond Act.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

s. 1, ch. 88-168.