The 2023 Florida Statutes (including Special Session C)

Title XI
COUNTY ORGANIZATION AND INTERGOVERNMENTAL RELATIONS

Chapter 159
BOND FINANCING

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F.S. 159.29

159.29 Criteria and requirements.—In undertaking any project pursuant to this part, a local agency shall be guided by and shall observe the following criteria and requirements; however, the determination of the local agency as to compliance with such criteria and requirements shall be final and conclusive:

(1) The project, in the determination of the local agency, is appropriate to the needs and circumstances of, and shall make a significant contribution to the economic growth of, the local agency in which it is to be located; shall provide or preserve gainful employment; shall protect the environment; or shall serve a public purpose by advancing the economic prosperity, the public health, or the general welfare of the state and its people as stated in s. 159.26.

(2) No financing agreement for a project shall be entered into with a party that is not financially responsible and fully capable and willing to fulfill its obligations under the financing agreement, including the obligations to make payments in the amounts and at the times required; to operate, repair, and maintain at its own expense the project leased; and to serve the purposes of this part and such other responsibilities as may be imposed under the financing agreement. In determining the financial responsibility of such party, consideration shall be given to the party’s ratio of current assets to current liabilities; net worth; earning trends; coverage of all fixed charges; the nature of the industry or activity involved; its inherent stability; any guarantee of the obligations by some other financially responsible corporation, firm, or person; and other factors determinative of the capability of the party, financially and otherwise, to fulfill its obligations consistently with the purposes of this part.

(3) The local agency in which the project is to be located will be able to cope satisfactorily with the impact of such project and will be able to provide, or cause to be provided when needed, the public facilities, including utilities and public services, that will be necessary for the construction, operation, repair, and maintenance of the project and on account of any increases in population or other circumstances resulting therefrom.

(4) Adequate provision shall be made for the operation, repair, and maintenance of the project at the expense of the lessee and for the payment of principal of and interest on the bonds.

(5) The costs to be paid from the proceeds of the bonds shall be costs of a project within the meaning of this part, or, when applicable, part III or part V of this chapter, except for payments included in the purposes for which revenue refunding bonds may be issued under this part.

History.—s. 5, ch. 69-104; s. 4, ch. 80-287.

F.S. 159.29 on Google Scholar

F.S. 159.29 on Casetext

Amendments to 159.29

Arrestable Offenses / Crimes under Fla. Stat. 159.29

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 159.29.

Annotations, Discussions, Cases:

Cases from cite.case.law:

In ALMOND, Jr., 344 B.R. 470 (Bankr. W.D. Va. 2006)

. . . Almond’s gross salary which compares with a monthly aggregate deduction of $159.29 indicated at trial . . .

HARRIS, v. DADE COUNTY,, 13 Fla. Supp. 2d 69 (Fla. Cir. Ct. 1985)

. . . Sections 159.27(4), 159.28 and 159.29, Florida Statutes. . . . Pursuant to Section 159.29, Florida Statutes, no financing agreement for a project shall be entered into . . .

STATE v. BROWARD COUNTY, a, 468 So. 2d 965 (Fla. 1985)

. . . . § 159.29(2), Fla. Stat. (1983). . . .

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS, LOCAL UNION NO. v. JACKSONVILLE PORT AUTHORITY,, 424 So. 2d 753 (Fla. 1982)

. . . Section 159.29, Florida Statutes (1981), sets out the criteria by which local agencies are to be guided . . . In essence, section 159.29 requires the local agency to conclude that the project will promote the economic . . . In assessing appellant’s argument it is important to note that section 159.29 also provides: “[H]owever . . . See § 159.29, Fla.Stat. (1981). . . . The appellant also questions the necessity or propriety, under section 159.29, of certain decisions of . . .

STATE v. LEON COUNTY, FLORIDA,, 410 So. 2d 1346 (Fla. 1982)

. . . properly adopted, that the bonds would not constitute a public debt, that the criteria set out in section 159.29 . . . Section 159.29 states that “the determination of the local agency as to compliance with [this section . . .

STATE v. CITY OF RIVIERA BEACH, a, 397 So. 2d 685 (Fla. 1981)

. . . Section 159.29 of the Acts says that in undertaking a project the local agency shall be guided by and . . . In the opinion validating the bonds, we said: Fla.Stat. § 159.29, F.S.A. provides that the determination . . . Accordingly, we deem the requirements of Fla.Stat. § 159.29, F.S.A. to have been satisfied by the Port . . .

STATE v. JACKSONVILLE PORT AUTHORITY,, 266 So. 2d 1 (Fla. 1972)

. . . . § 159.29, F.S.A., the resolution also determined: (1) that the project would make a significant contribution . . . Fla.Stat. § 159.29, F.S.A. provides that the determination of the local agency as to compliance with . . . Accordingly, we deem the requirements of Fla.Stat. § 159.29, F.S.A. to have been satisfied by the Port . . .

STATE v. COUNTY OF DADE, a, 250 So. 2d 875 (Fla. 1971)

. . . . § 159.29(1), F.S.A. . . . In fact, § 159.29 provides that such determination by the local agency as to compliance with such criteria . . .

ROBERT F. BROWN, ET AL. v. THE UNITED STATES, 192 Ct. Cl. 203 (Ct. Cl. 1970)

. . . when it purchased the bond, but during the same period, there was an accrual of coupon interest of $159.29 . . .

MADISON PERSONAL LOAN, v. PARKER, 124 F.2d 143 (2d Cir. 1941)

. . . Of this $287, $159.29 was paid to appellant in satisfaction of a prior loan, representing $158.19 principal . . .

In RADNER, 36 F. Supp. 964 (S.D.N.Y. 1941)

. . . second loan, the loan company drew a check to the order of the bankrupt and his wife for the sum of $159.29 . . .

ILLINOIS CENTRAL RAILROAD COMPANY v. THE UNITED STATES, 57 Ct. Cl. 277 (Ct. Cl. 1922)

. . . On said shipments land-grant deductions of $159.29 were made by the plaintiff in stating its bills. . . .