189.432 Definitions; Community Improvement Authority Act. - Florida Statutes

189.432 Definitions; Community Improvement Authority Act.

As used in this act, the term:

   (1) “Authority” means an authority created under this act.

   (2) “Board” or “board of supervisors” means the governing body of an authority.

   (3) “Bond” means any general obligation bond, revenue bond, refunding bond, note, or other debt obligation authorized under this act.

   (4) “Department” means the Department of Revenue.

   (5) “Eligible county” means any county within the state which simultaneously satisfies the following criteria:

   (a) At least two professional sports facilities exist in the county, and

   (b) The county has a population of not less than 1.5 million according to the most recent annual publication of County Population Estimates of the U.S. Bureau of the Census. Once a governing body has been appointed for an authority in an eligible county, that county is considered an eligible county for all purposes of this act, notwithstanding subsequent reductions in population.

   (6) “Professional sports facility” means a ballpark, stadium, arena, coliseum, or similar facility intended for use by a professional sports franchise that exists within the National League or the American League of Major League Baseball, the National Basketball Association, the National Football League, or the National Hockey League.

   (7) “Project” means facilities, attractions, and other improvements authorized by this act, including professional sports facilities, related amenities and infrastructure, and systems, facilities, and services determined by an authority to be beneficial to the development, ownership, and operation of any of the foregoing, including the acquisition of land and any interest therein.

   (8) “Refunding bonds” means bonds issued to retire or refinance outstanding bonds of an authority and the interest and redemption premium thereon.

   (9) “Revenue bonds” means obligations of an authority or other governmental body which are payable from revenues or other funds derived from sources other than ad valorem taxes on real or tangible personal property.

History. s. 3, ch. 2000-348.