Florida/Georgia Personal Injury & Workers Compensation

...ded debt as it chose without approval of the voters, subject only to obtaining a lower interest rate on the refunded debt. In my view, the majority's application of "refunding" is contrary to the constitution. It is also contrary to sections 132.11, 132.14, and 215.79(2), Florida Statutes (1983), all of which bear on the question of the amount to be refunded, redeemed, or exchanged....

...Section 132.11, entitled Amount of refunding bonds to be sold, limits the amount to that "necessary to provide for the matured bonds and legally incurred interest and of such unmatured bonds as the holders thereof have agreed in writing to surrender." Section 132.14, entitled Exchange in lieu of sale, states "[t]he principal and accrued interest of the refunding bonds shall not exceed the amount of the obligations refunded." Section 215.79(2), entitled Refunding bonds, permits an increase in the a...

legislature. *Page 533 It is quite true that Section 132.14 previously referred to requires that the principal