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Florida Statute 288.9605 - Full Text and Legal Analysis
Florida Statute 288.9605 | Lawyer Caselaw & Research
Link to State of Florida Official Statute
F.S. 288.9605 Case Law from Google Scholar Google Search for Amendments to 288.9605

The 2025 Florida Statutes

Title XIX
PUBLIC BUSINESS
Chapter 288
COMMERCIAL DEVELOPMENT AND CAPITAL IMPROVEMENTS
View Entire Chapter
288.9605 Corporation powers.
(1) The powers of the corporation created by s. 288.9604 shall include all the powers necessary or convenient to carry out and effectuate the purposes and provisions of this act.
(2) The corporation is authorized and empowered to:
(a) Have perpetual succession as a body politic and corporate and adopt bylaws for the regulation of its affairs and the conduct of its business.
(b) Adopt an official seal and alter the same at its pleasure.
(c) Maintain an office at such place or places as it may designate.
(d) Sue and be sued in its own name and plead and be impleaded.
(e) Enter into interlocal agreements pursuant to s. 163.01(7) with public agencies of this state for the exercise of any power, privilege, or authority consistent with the purposes of this act.
(f) Issue, from time to time, revenue bonds, notes, or other evidence of indebtedness, including, but not limited to, taxable bonds and bonds the interest on which is exempt from federal income taxation, for the purpose of financing and refinancing any capital projects that promote economic development within the state, thereby benefiting the citizens of the state, and exercise all powers in connection with the authorization, issuance, and sale of bonds, subject to the provisions of s. 288.9606.
(g) Issue bond anticipation notes in connection with the authorization, issuance, and sale of such bonds, pursuant to the provisions of s. 288.9606.
(h) Make and execute contracts and other instruments necessary or convenient to the exercise of its powers under the act.
(i) Disseminate information about itself and its activities.
(j) Acquire, by purchase, lease, option, gift, grant, bequest, devise, or otherwise, real property, together with any improvements thereon, or personal property for its administrative purposes or in furtherance of the purposes of this act.
(k) Hold, improve, clear, or prepare for development any such property.
(l) Mortgage, pledge, hypothecate, or otherwise encumber or dispose of any real or personal property.
(m) Insure or provide for insurance of any real or personal property or operations of the corporation or any private enterprise against any risks or hazards, including the power to pay premiums on any such insurance.
(n) Establish and fund a guaranty fund in furtherance of the purposes of this act.
(o) Invest funds held in reserve or sinking funds or any such funds not required for immediate disbursement in property or securities in such manner as the board shall determine, subject to the authorizing resolution on any bonds issued, and to terms established in the investment agreement pursuant to ss. 288.9606, 288.9607, and 288.9608, and redeem such bonds as have been issued pursuant to s. 288.9606 at the redemption price established therein or purchase such bonds at less than redemption price, all such bonds so redeemed or purchased to be canceled.
(p) Borrow money and apply for and accept advances, loans, grants, contributions, and any other form of financial assistance from the Federal Government or the state, county, or other public agency or from any sources, public or private, for the purposes of this act and give such security as may be required and enter into and carry out contracts or agreements in connection therewith; and include in any contract for financial assistance with the Federal Government or the state, county, or other public agency for, or with respect to, any purposes under this act and related activities such conditions imposed pursuant to federal laws as the county or municipality or other public agency deems reasonable and appropriate which are not inconsistent with the provisions of this act.
(q) Make or have all surveys and plans necessary for the carrying out of the purposes of this act, contract with any person, public or private, in making and carrying out such plans, and adopt, approve, modify, and amend such plans.
(r) Develop, test, and report methods and techniques and carry out demonstrations and other activities for the promotion of any of the purposes of this act.
(s) Apply for, accept, and utilize grants from the Federal Government or the state, county, or other public agency available for any of the purposes of this act.
(t) Make expenditures necessary to carry out the purposes of this act.
(u) Exercise all or any part or combination of powers granted in this act.
(v) Enter into investment agreements with the department concerning the issuance of bonds and other forms of indebtedness and capital.
(w) Determine the situations and circumstances for participation in partnerships by agreement with local governments, financial institutions, and others associated with the redevelopment of brownfield areas pursuant to the Brownfields Redevelopment Act for a limited state guaranty of revenue bonds, loan guarantees, or loan loss reserves.
(3) Documents, agreements, and instruments executed by the corporation may be executed and delivered in accordance with the Electronic Signature Act of 1996.
History.ss. 29, 62, ch. 93-187; s. 1, ch. 93-402; s. 12, ch. 94-136; s. 12, ch. 98-75; s. 73, ch. 99-13; s. 5, ch. 2010-139; s. 189, ch. 2011-142; s. 6, ch. 2020-30; s. 94, ch. 2023-173.

F.S. 288.9605 on Google Scholar

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Amendments to 288.9605


Annotations, Discussions, Cases:

Cases Citing Statute 288.9605

Total Results: 3  |  Sort by: Relevance  |  Newest First

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State v. Florida Dev. Fin. Corp., 650 So. 2d 14 (Fla. 1995).

Cited 3 times | Published | Supreme Court of Florida | 1995 WL 48437

...FDFC has the power to function within the corporate limits of any public agency with which it enters an interlocal agreement pursuant to the Florida Interlocal Cooperation Act of 1969, for any of the purposes of the 1993 Act. § 288.9604, Fla. Stat. In addition to this implied power, section 288.9605(2)(f) expressly authorizes FDFC to issue revenue bonds for the purpose of financing and refinancing capital projects....
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Florida Bankers Ass'n v. Florida Dev. Fin. Corp., 176 So. 3d 1258 (Fla. 2015).

Published | Supreme Court of Florida | 2015 WL 5996764

...ause. FDFC presented FDFC Executive Director William Spivey, who explained that FDFC is governed by a five-member board of directors appointed by the Governor. Spivey identified a form interlocal agreement and explained that FDFC has authority under section 288.9605(2), Florida Statutes (2014), to enter into such inter-local agreements and that it would be the local government and not FDFC that would impose the non-ad valorem assessments on the property improved under the PACE program....
...Reynolds, and with FDFC, that FDFC does not have authority under the PACE Act’to levy the special non-ad valorem assessments called for under the Act. First, and foremost, section 163.08(3), Florida Statutes (2014), specifically authorizes the local government to levy the non-ad valorem assessments. Second, section 288.9605(2)(e) states that *1268 FDFC may enter into interlocal agreements pursuant to section 163.01(7) with public agencies for the exercise of “any power, privilege, or authority consistent with the purposes of this act.” That statutor...
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& SC14-1618 Florida Bankers Ass'n v. Florida Dev. Fin. Corp., etc. & Robert Reynolds v. Florida Dev. Fin. Corp., etc. (Fla. 2015).

Published | Supreme Court of Florida

...to show cause. FDFC presented FDFC Executive Director William Spivey, who explained that FDFC is governed by a five-member board of directors appointed by the Governor. Spivey identified a form interlocal agreement and explained that FDFC has authority under section 288.9605(2), Florida Statutes (2014), to enter into such interlocal agreements and that it would be the local government and not FDFC that would impose the non-ad valorem assessments on the property improved under the PACE program....
...authority under the PACE Act to levy the special non-ad valorem assessments called for under the Act. First, and foremost, section 163.08(3), Florida Statutes (2014), specifically authorizes the local government to levy the non-ad valorem assessments. Second, section 288.9605(2)(e) states that FDFC may enter into interlocal agreements pursuant to section 163.01(7) with public agencies for the exercise of “any power, privilege, or authority consistent with the purposes of this act.” That statutory a...

This Florida statute resource is curated by Graham W. Syfert, Esq., a Jacksonville, Florida personal injury and workers' compensation attorney. For legal consultation, call 904-383-7448.