1011.12 Purposes of and procedures in incurring school indebtedness. - Florida Statutes

1011.12 Purposes of and procedures in incurring school indebtedness.

Indebtedness for school purposes may be incurred only as follows:

   (1) School districts may issue bonds creating a long-term indebtedness as prescribed by law.

   (2) Notes may be issued for money borrowed in anticipation of the receipt of current school funds, included in the budget from the state, county, or districts, as authorized under s. 1011.13.

   (3) Indebtedness may be incurred for certain purposes as authorized under s. 1011.14, s. 1011.15, or s. 1011.16.

   (4) Bonds or revenue certificates issued on behalf of the district by the State Board of Education as authorized by s. 18, Art. XII of the State Constitution of 1885 as adopted by s. 9(d), Art. XII, 1968 revised constitution, and the additional provisions of s. 9(d), Art. XII of said revision.

History. s. 615, ch. 2002-387.