Florida Regulations 67-25.003: Issuance of Revenue Bonds
Current as of: 2024 | Check for updates
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(1) The Corporation will fund the programs with the proceeds from the sale of revenue bonds. The issuance and sale of the bonds will be governed by resolutions adopted by the Corporation and applicable Florida law.
(2) If bonds cannot be sold or cannot be sold in an amount, at an interest rate or under conditions which the Corporation and the Division of Bond Finance for the State of Florida determine are in the best interest of the public and the particular bond program, the Corporation shall terminate the proposed bond issuance.
Rulemaking Authority Florida Statutes § 420.507(12). Law Implemented 420.502, 420.507, 420.508, 420.509, 420.51, 215.68, 215.84 FS. History-New 4-15-87, Formerly 9I-25.003.
Terms Used In Florida Regulations 67-25.003
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
Rulemaking Authority Florida Statutes § 420.507(12). Law Implemented 420.502, 420.507, 420.508, 420.509, 420.51, 215.68, 215.84 FS. History-New 4-15-87, Formerly 9I-25.003.