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. 159.35

159.35 Trust agreement.—In the discretion of the local agency, any bonds issued under the provisions of this part may be secured by a trust agreement by and between the local agency and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. Such trust agreement or resolution providing for the issuance of such bonds may pledge or assign the fees, rents, charges, proceeds from the sale of any project or part thereof, insurance proceeds, condemnation awards, and other funds and revenues to be received therefor, and may provide for the mortgaging of any project or any part thereof as security for repayment of the bonds. Such trust agreement or resolution providing for the issuance of such bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the local agency in relation to the acquisition of property and the construction, improvement, maintenance, repair, operation, and insurance of the project or projects in connection with which such bonds shall have been authorized, the fees, rents, and other charges to be fixed and collected, the sale of any project, or part thereof, or other property, the terms and conditions for the issuance of additional bonds, and the custody, safeguarding, and application of all moneys. It shall be lawful for any bank or trust company incorporated under the laws of the state which may act as depository of the proceeds of bonds, revenues, or other money hereunder to furnish such indemnifying bonds or to pledge such securities as may be required by the local agency. Any such trust agreement or resolution may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action by bondholders. In addition to the foregoing, any such trust agreement or resolution may contain such other provisions as the local agency may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of such trust agreement or resolution may be treated as a part of the cost of the project or projects in connection with which bonds are issued or as an expense of administration of such project or projects, as the case may be.

History.—s. 11, ch. 69-104.

F.S. 159.35 on Google Scholar

F.S. 159.35 on Casetext

Amendments to 159.35

Arrestable Offenses / Crimes under Fla. Stat. 159.35

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 159.35.

Annotations, Discussions, Cases:

Cases from cite.case.law:

In S. RYAN, R. v. E. J. Jr., 472 B.R. 714 (Bankr. E.D. Va. 2012)

. . . Ryan 02/06/08 $ 159.35 DFAS Dir. . . . Deposit Acct. ending 5422 $ 159.35 02/13/08 $1,846.00 SSA Disability Acct. ending 5422 $ 1,846.00 03/ . . .

In T. WEST, 398 B.R. 629 (Bankr. E.D. Ark. 2009)

. . . accordance with the Maleo Agreed Order to reflect a $7,500 value for the Ford Taurus, and to pay Maleo $159.35 . . .

STATE v. PUTNAM COUNTY DEVELOPMENT AUTHORITY,, 249 So. 2d 6 (Fla. 1971)

. . . . § 159.35, F.S.A. provides for “the mortgaging of any project or any part thereof as security for the . . . We hold on this reasoning that the mortgaging provisions contained in Fla.Stat. § 159.35, F.S.A. do not . . .

COLELLA, v. UNITED STATES, 360 F.2d 792 (1st Cir. 1966)

. . . Rada Hotel, San-turce, Puerto Rico, during the month of March, 1961, falsely showing expenses to be $159.35 . . .