1011.31 Current loans to 1community college boards of trustees. - Florida Statutes

1011.31 Current loans to 1community college boards of trustees.

   (1) At any time the current funds on hand are insufficient to pay obligations created by a 1community college board of trustees in accordance with the approved budget of the 1community college, the 1community college board of trustees may request approval by the Commissioner of Education of a proposal to negotiate a current loan, with provisions for the repayment of such loan during the fiscal year in which the loan is made, in order to meet these obligations.

   (2) The Commissioner of Education shall approve such proposal when, in his or her opinion, the proposal is reasonable and just, the expenditure is necessary, and revenues sufficient to meet the requirements of the loan can reasonably be anticipated.

History. s. 630, ch. 2002-387; s. 2, ch. 2003-3.

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Note. Section 21, ch. 2010-70, directs the Division of Statutory Revision to prepare a reviser’s bill to substitute the term “Florida College System institution” for the terms “Florida college,” “community college,” and “junior college” where those terms appear in the Florida K-20 Education Code.