(1) Notwithstanding any other provision of this part, any county or municipality issuing revenue bonds hereunder for any of the purposes provided in this part, shall have power to pledge the full faith and credit and ad valorem taxing power of such county or municipality for the payment of the principal of or interest on such revenue bonds if the issuance of such revenue bonds with such additional pledge shall have approval by the qualified electors who are freeholders residing in such county or municipality in an election called, conducted and held in the manner provided in the constitution and statutes of Florida for the holding of freeholder elections.
(2) In the event such additional pledge is made the county or municipality shall be obligated to levy ad valorem taxes without limit as to rate or amount for the payment of the principal of and interest on such revenue bonds, and the issuance of such revenue bonds with such additional pledge of the faith and credit of such county or municipality shall not be subject to any debt limitation contained in any other law, general, special or local.
History.—s. 8, ch. 67-550.
Structure Florida Statutes
Title XI - County Organization and Intergovernmental Relations
Part I - Revenue Bond Act of 1953 (Ss. 159.01-159.19)
159.04 - Neither credit nor taxing power pledged.
159.05 - Purchase of projects.
159.06 - Improvement of projects purchased.
159.07 - Construction of projects.
159.10 - Revenues of projects.
159.12 - Remedies of bondholders and trustee.
159.13 - Revenue refunding bonds.
159.15 - Tax exemption and eligibility as investments.
159.16 - Additional pledge of faith and credit.
159.17 - Lien of service charges.