Fla. Stat. 331.345
Covenants

Any resolution authorizing the issuance of bonds may contain such covenants as the board may deem advisable and all such covenants shall constitute valid and legally binding and enforceable contracts between Space Florida and the bondholders, regardless of the time of issuance thereof. Such covenants may include, without limitation, covenants concerning the disposition of the bond proceeds, the use and disposition of project revenues, the pledging of revenues, and assessments, the obligations of Space Florida with respect to the operation of the project and the maintenance of adequate project revenues, the issuance of additional bonds, the appointment, powers, and duties of trustees and receivers, the acquisition of outstanding bonds and obligations, restrictions on the establishing of competing projects or facilities, restrictions on the sale or disposal of the assets and property of Space Florida, the priority of assessment liens, the priority of claims by bondholders on the taxing power of Space Florida, the maintenance of deposits to assure the payment of revenues by users of spaceport facilities and services, the discontinuance of Space Florida services by reason of delinquent payments, acceleration upon default, the execution of necessary instruments, the procedure for amending or abrogating covenants with the bondholders, and such other covenants as may be deemed necessary or desirable for the security of the bondholders.

Source: Section 331.345 — Covenants, https://www.­flsenate.­gov/Laws/Statutes/2024/0331.­345 (accessed Aug. 7, 2025).

331.301
Short title 331.302
Space Florida 331.303
Definitions 331.304
Spaceport territory 331.305
Powers of Space Florida 331.306
Federal airspace notification 331.307
Development of Cape San Blas facility 331.309
Treasurer 331.310
Powers and duties of the board of directors 331.311
Exercise by Space Florida of its powers within municipalities and other political subdivisions 331.312
Furnishing facilities and services within the spaceport territory 331.313
Power of Space Florida with respect to roads 331.316
Rates, fees, rentals, tolls, fares, and charges 331.317
Recovery of delinquent charges 331.318
Discontinuance of service 331.319
Comprehensive planning 331.320
Additional powers of board 331.321
Federal and other funds and aid 331.322
Agreements with municipalities within any spaceport territory 331.323
Cooperative agreements with the state, counties, and municipalities 331.324
Contracts, grants, and contributions 331.325
Environmental permits 331.327
Foreign trade zone 331.328
Sovereign immunity 331.329
Changing boundary lines 331.330
Enforcement and penalties 331.331
Revenue bonds 331.332
Issuance of additional bonds 331.333
Refunding bonds 331.335
Lien of pledges 331.338
Trust agreements 331.339
Sale of bonds 331.340
Authorization and form of bonds 331.341
Interim certificates 331.342
Negotiability of bonds 331.343
Defeasance 331.344
Bonds as legal investment or security 331.345
Covenants 331.346
Validity of bonds 331.347
Act furnishes full authority for issuance of bonds 331.348
Investment of funds 331.349
Fiscal year of Space Florida 331.350
Insurance coverage of Space Florida 331.351
Participation by women, minorities, and socially and economically disadvantaged business enterprises encouraged 331.353
Rulemaking authority 331.354
Tax exemption 331.355
Use of name 331.360
Joint participation agreement or assistance 331.369
Space Industry Workforce Initiative 331.370
Space and aerospace infrastructure 331.371
Strategic space infrastructure investment 331.3011
Legislative findings and intent 331.3051
Duties of Space Florida 331.3081
Board of directors 331.3101
Space Florida

Current through Fall 2025

§ 331.345. Covenants's source at flsenate​.gov