Florida Statute 159.33 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XI
COUNTY ORGANIZATION AND INTERGOVERNMENTAL RELATIONS

Chapter 159
BOND FINANCING

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159.33 Credit of state or political subdivision not pledged.—

(1) Bonds issued under the provisions of this part shall not be deemed to constitute a debt, liability, or obligation of the local agency or of the state or of any political subdivision thereof, or a pledge of the faith and credit of the local agency or of the state or of any such political subdivision, but shall be payable solely from the revenues provided therefor. Each bond issued under this part shall contain on the face thereof a statement to the effect that the local agency shall not be obligated to pay the same nor interest thereon except from the revenues and proceeds pledged therefor, and that neither the faith and credit nor the taxing power of the local agency or of the state or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds.

(2) Expenses incurred by the local agency in carrying out the provisions of this part may be made payable from funds provided pursuant to this part and no liability or obligation shall be incurred by the local agency hereunder beyond the extent to which moneys shall have been so provided. Any and all moneys advanced on behalf of any project, which are derived from any tax source of the local agency, shall be repaid from the bond proceeds or from the lessee to the governmental entity which advanced same.

History.—s. 9, ch. 69-104.

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Amendments to 159.33

Annotations, Discussions, Cases:

Cases Citing Statute 159.33

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State v. Putnam Cty. Develop. Auth., 249 So. 2d 6 (Fla. 1971).

Cited 40 times | Published | Supreme Court of Florida | 2 ERC 1638

...l business or industry. We hold on this reasoning that the mortgaging provisions contained in Fla. Stat. § 159.35, F.S.A. do not directly or indirectly pledge the credit of the State or its political subdivisions. It should be noted that Fla. Stat. § 159.33, F.S.A....

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Linscott v. Orange Cnty. Indus. Dev. Auth., 443 So. 2d 97 (Fla. 1983).

Cited 18 times | Published | Supreme Court of Florida

...This legislative determination is entitled to great weight, particularly since it is consistent with the implicit recognition in section 10(c) that the public interest is served by facilitating private economic development. State v. Orange County Industrial Development Authority, 417 So.2d 959, 962 (Fla. 1982). Further, section 159.33 specifically provides that bonds issued under the provisions of part II shall not constitute a pledge of public credit but shall be payable solely from the revenues of the capital project....