Fla. Stat. 255.524
Obligations issued constitute legal investments

All obligations issued pursuant to this act shall be and constitute legal investments without limitation for all political subdivisions of this state; for all banks, trust companies, savings banks, savings associations, savings and loan associations, and investment companies; for all administrators, executors, trustees, and other fiduciaries; for all insurance companies and associations and other persons carrying on an insurance business; and for all other persons who are now or may hereafter be authorized to invest in bonds or other obligations of the state and shall be and constitute eligible securities to be deposited as collateral for the security of any public funds. This section shall be considered as additional and supplemental authority and shall not be limited without specific reference hereto.

Source: Section 255.524 — Obligations issued constitute legal investments, https://www.­flsenate.­gov/Laws/Statutes/2024/0255.­524 (accessed Aug. 7, 2025).

255.01
Proceeds of insurance may be used to replace property destroyed 255.02
Boards authorized to replace buildings destroyed by fire 255.03
Proceeds of insurance to be paid into State Treasury 255.04
Preference to home industries in building public buildings 255.05
Bond of contractor constructing public buildings 255.20
Local bids and contracts for public construction works 255.21
Special facilities for physically disabled 255.22
Reconveyance of lands not used for purpose specified 255.25
Approval required before construction or lease of buildings 255.28
Department authority to acquire land with or for facility thereon 255.29
Construction contracts 255.30
Fixed capital outlay projects 255.31
Authority to the Department of Management Services to manage construction projects for state and local governments 255.32
State construction management contracting 255.40
Use of asbestos in new public buildings or buildings newly constructed for lease to governmental entities 255.041
Separate specifications for building contracts 255.042
Shelter in public buildings 255.043
Art in state buildings 255.45
Correction of firesafety violations in certain state-owned property 255.045
Cleanup after events held on public property 255.047
Publicly owned or operated convention centers, sports stadiums, sports arenas, coliseums, or auditoriums 255.51
Determination of rental rates 255.051
Public bids 255.52
Approval by State Board of Administration 255.052
Substitution of securities for amounts retained on public contracts 255.60
Special contracts with charitable or not-for-profit organizations 255.065
Public-private partnerships 255.70
Public permitting 255.071
Payment of subcontractors, sub-subcontractors, materialmen, and suppliers on construction contracts for public projects 255.072
Definitions 255.073
Timely payment for purchases of construction services 255.074
Procedures for calculation of payment due dates 255.075
Mandatory interest 255.076
Award of court costs and attorney’s fees 255.077
Project closeout and payment of retainage 255.078
Public construction retainage 255.099
Preference to state residents 255.101
Contracts for public construction works 255.102
Contractor utilization of minority business enterprises 255.103
Construction management or program management entities 255.211
Special symbol may be displayed 255.248
Definitions 255.249
Department of Management Services 255.251
Energy Conservation and Sustainable Buildings Act 255.252
Findings and intent 255.253
Definitions 255.254
No facility constructed or leased without life-cycle costs 255.255
Life-cycle costs 255.256
Energy performance index 255.257
Energy management 255.259
Florida-friendly landscaping on public property 255.451
Electronic firesafety and security system 255.501
Building and Facilities Act 255.502
Definitions 255.503
Powers of the Department of Management Services 255.504
Use of facilities 255.505
Creation of the pool 255.506
Facilities in pool 255.507
Determination of qualified facilities 255.508
Participation in pool 255.509
Request for advisory statement 255.511
Factors to be considered in establishing rental rates 255.513
Powers of the Division of Bond Finance and the Department of Management Services 255.514
Division of Bond Finance 255.0515
Bids for state contracts 255.515
Issuance of obligations by the division 255.516
Security for payment of obligations 255.0516
Bid protests by educational boards 255.517
Anticipation obligations 255.0517
Owner-controlled insurance programs for public construction projects 255.518
Obligations 255.0518
Public bids 255.519
Variable rate obligations 255.521
Failure of payment 255.522
State and political subdivisions not liable on obligations 255.523
Exemption from taxes 255.524
Obligations issued constitute legal investments 255.525
Inconsistent provisions of other laws superseded 255.0525
Advertising for competitive bids or proposals 255.0705
Popular name 255.0991
Contracts for construction services 255.0992
Public works projects 255.0993
Public works projects 255.2501
Lease of space financed with local government obligations 255.2502
Contracts which require annual appropriation 255.2503
Contracts for lease of buildings 255.2575
Energy-efficient and sustainable buildings 255.5576
Consideration of energy-efficient materials 255.25001
Department of Management Services not required to participate in PRIDE leasing process

Current through Fall 2025

§ 255.524. Obligations issued constitute legal investments's source at flsenate​.gov