Fla. Stat. 334.187
Guarantee of obligations to the department

(1)

With the approval of the department’s comptroller, a letter of credit or bond may be accepted by the department to guarantee payment of any obligation due the department or that may become due to the department.

(2)

The letter of credit shall be payable solely to the department as beneficiary, and it shall be nonassignable and nontransferable. The letter of credit may be issued by any financially sound bank or savings association existing under the laws of this state or any financially sound bank or savings association organized under the laws of the United States that has its principal place of business in this state or has a branch office which is authorized under the laws of this state or of the United States to receive deposits in this state.

(3)

The department’s comptroller must approve the use of the letter of credit or bond, the institution issuing the letter of credit or bond, and the language to be used in the letter of credit or bond. Such approval may be given only when the department’s comptroller determines that acceptance of these items is in the best interest of the state and of the department in the performance of its duties.

(4)

The department is authorized to adopt rules relating to the use of prepaid escrow accounts for purchases from the department.

Source: Section 334.187 — Guarantee of obligations to the department, https://www.­flsenate.­gov/Laws/Statutes/2024/0334.­187 (accessed Aug. 7, 2025).

334.01
Florida Transportation Code 334.03
Definitions 334.05
Department headquarters 334.14
Employees of department who are required to be engineers 334.17
Consulting services 334.24
Compilation, maintenance, and provision of information relating to roads and road building and repair 334.27
Governmental transportation entities 334.30
Public-private transportation facilities 334.035
Purpose of transportation code 334.044
Powers and duties of the department 334.045
Transportation performance and productivity standards 334.046
Department mission, goals, and objectives 334.047
Prohibition 334.048
Legislative intent with respect to department management accountability and monitoring systems 334.049
Patents, copyrights, trademarks 334.60
511 traveler information system 334.61
Traffic lane repurposing 334.063
Statistical studies relating to traffic count and accidents 334.065
Center for Urban Transportation Research 334.066
Implementing Solutions from Transportation Research and Evaluating Emerging Technologies Living Lab 334.071
Legislative designation of transportation facilities 334.131
Department employees’ benefit fund 334.175
Certification of project design plans and surveys 334.179
Department standards or specifications for permissible use of aggregates 334.181
Electronic proof of delivery 334.185
Financial responsibility for construction, material, or design failures 334.187
Guarantee of obligations to the department 334.193
Unlawful for certain persons to be financially interested in purchases, sales, and certain contracts 334.195
Officers or employees of the department 334.196
Authority of department to photograph or microphotograph records and to destroy original records 334.351
Youth work experience program 334.352
State university ingress and egress

Current through Fall 2025

§ 334.187. Guarantee of obligations to the department's source at flsenate​.gov