Fla. Stat. 153.87
Mortgage or sale by board of district property prohibited; rights of bondholders protected

No district board shall have power to mortgage, pledge, encumber, sell or otherwise convey all or any part of any water system or sewer system, or both, except that the district board may dispose of any part of such system or systems as may be no longer necessary for the purposes of the district. The provisions of this section shall be deemed to constitute a contract with all bondholders. All district property shall be exempt from levy and sale by virtue of an execution and no execution or other judicial process shall issue against such property nor shall any judgment against a district be a charge or lien on its property or revenues; provided, that nothing herein contained shall apply to or limit the rights of bondholders to pursue any remedy for the enforcement of any lien or pledge given by a district on revenues derived from the operation of any water system or sewer system, or both.

Source: Section 153.87 — Mortgage or sale by board of district property prohibited; rights of bondholders protected, https://www.­flsenate.­gov/Laws/Statutes/2024/0153.­87 (accessed Aug. 7, 2025).

153.50
Short title 153.51
Legislative intent 153.52
Definitions 153.53
Establishment of districts in unincorporated areas 153.54
Preliminary report by county commissioners with respect to creation of proposed district 153.55
Public hearing upon report of county commissioners and creation of district 153.56
Call election to determine creation of district, issuance of bonds 153.57
Ballots and election officials 153.58
Election results 153.59
Court proceedings 153.60
County commissioners ex officio governing board 153.61
Expenses 153.62
District board 153.63
Revenue bonds 153.64
Schedule of rates and fees 153.65
Trust funds 153.66
Covenants of district board with bondholders 153.67
Unpaid fees to constitute lien 153.68
General obligation bonds, election 153.69
County property appraiser ex officio tax assessor for district 153.70
Provisions of s 153.71
Publication of notice of issuance of bonds 153.72
Bonds 153.73
Assessable improvements 153.74
Issuance of certificates of indebtedness based on assessments for assessable improvements 153.75
Annual reports of district board 153.76
Exemption from taxation 153.77
District bonds as securities for public bodies 153.78
Bonds as payment for services 153.79
Contracts for construction of improvements, sealed bids 153.80
Consolidation of systems 153.81
Ad valorem maintenance tax 153.82
Handling of taxes and special assessments, district treasurer 153.83
Free water and sewer services prohibited 153.84
Contracts enforceable by bondholders 153.85
Conveyance of property without consideration 153.86
District approval of construction of water and sewage facilities 153.87
Mortgage or sale by board of district property prohibited 153.88
Construction of law

Current through Fall 2025

§ 153.87. Mortg. or sale by board of district property prohibited; rights of bondholders protected's source at flsenate​.gov