Fla. Stat. 132.03
Interest; maturity; payment; right to redeem in advance

Such resolution or resolutions shall determine the rate or rates of interest to be paid, not exceeding 7.5 percent per annum, payable annually or at shorter intervals, and the maturity or maturities of the bonds which shall be at a time or times not exceeding 60 years from the date of the bonds (except that in the issuance of bonds of taxing districts where the maturities are fixed under the Constitution, then such maturities shall be in accordance with the maturities fixed in the constitutional provision), as well as determine the medium of payment and the place or places in Florida or any other state at which the principal and interest shall be payable. In the discretion of the governing body the right to redeem all or any of the bonds at par before maturity may be reserved upon terms and conditions to be fixed by resolution.

Source: Section 132.03 — Interest; maturity; payment; right to redeem in advance, https://www.­flsenate.­gov/Laws/Statutes/2024/0132.­03 (accessed Aug. 7, 2025).

132.01
How chapter may be cited 132.02
Taxing units may refund obligations 132.03
Interest 132.04
Redemption before maturity 132.05
Form 132.06
Separate series of bonds 132.07
Maturity date 132.08
Exchange of bonds 132.09
Sale of bonds 132.11
Amount of refunding bonds to be sold 132.12
Exchange without notice 132.13
Delivery of bonds sold 132.14
Exchange in lieu of sale 132.15
Provision for conditional increase of rate of interest 132.16
Sinking fund 132.17
Pledge of anticipated revenues 132.18
Pledge of fixed portion of revenues 132.19
Priority of payment of refunding bonds 132.20
Proportionate taxes for sinking fund 132.21
Pledge of special assessments 132.22
Levy of ad valorem tax for payment of bonds 132.23
Tax by municipalities 132.24
Elections, notice, etc 132.25
Creation and maintenance of sinking fund 132.26
Chapter supplemental and additional 132.27
Chapter complete within itself 132.28
Chapter applicable to school districts 132.29
Validation 132.30
Chapter applicable to all taxing districts 132.31
No other proceedings required 132.32
Replacement of bonds 132.33
Short title 132.34
Definitions 132.35
Authorization to issue general obligation refunding bonds 132.36
Refunding bond resolution 132.37
Levy of ad valorem tax for payment of general obligation refunding bonds 132.38
Sale of general obligation refunding bonds 132.39
Certification of debt service savings 132.40
Notice to holders of general obligation bonds to be redeemed 132.41
Duties and obligations of escrow agent 132.42
Investment of escrow funds 132.43
Pledge and use of proceeds of general obligation refunding bonds 132.44
Powers in addition to other powers granted 132.45
Recital in general obligation refunding bonds 132.46
Effect of invalidity or irregularity in prior proceedings 132.47
Sections

Current through Fall 2025

§ 132.03. Interest; maturity; payment; right to redeem in advance's source at flsenate​.gov