eLaws | eCases | Florida State | Florida Administrative Code | Florida Courts | Counties & Cities of Florida | Code of Federal Regulations | United States Code |
 Brevard County
 Code of Ordinances
 Chapter 102. TAXATION
 Article III. TOURIST DEVELOPMENT TAX

  § 102-122. Bonds.  

Latest version.

  • (a)

    To the extent allowable under F.S. § 125.0104(5)(d) as may be amended from time to time, the revenue to be derived from the tax may be pledged to secure and liquidate revenue bonds issued by the county for the purposes set forth in subsections 102-119(3)b., c., and 102-119(4)a., or for the purpose of refunding bonds previously issued for such purposes, or both; however, no more than 50 percent of the revenues from the tax may be pledged to secure and liquidate revenue bonds or revenue refunding bonds issued for the purposes set forth in subsections 102-119(3)b. and 102-119(4)a. Such revenue bonds and revenue refunding bonds may be authorized and issued in such principal amounts, with such interest rates and maturity dates, and subject to such other terms, conditions and covenants as the board of county commissioners shall provide.

    (b)

    This article levying and imposing the tax shall automatically expire upon the later of:

    (1)

    Retirement of all bonds issued by the county for financing the acquisition, construction, extension, enlargement, remodeling, repair, or improvement of a publicly owned and operated convention center, sports stadium, sports arena, coliseum, auditorium, aquarium, or museum that is publicly owned and operated or owned and operated by a not-for-profit organization; or

    (2)

    The expiration of any agreement by the county for the operation or maintenance, or both, of a publicly owned and operated convention center, sports stadium, sports arena, coliseum, auditorium, aquarium, or museum.

    (3)

    However, nothing herein shall preclude:

    a.

    Amending this ordinance to extend the tax to the extent the board of county commissioners determines to be necessary to provide funds with which to operate, maintain, repair, or renew and replace a publicly owned and operated convention center, sports stadium, sports arena, coliseum, auditorium, aquarium, or museum; or

    b.

    From enacting an ordinance which shall take effect without referendum approval, unless the original referendum required ordinance expiration, pursuant to the provisions of F.S. § 125.0104 reimposing a tourist development tax, upon or following the expiration of the previous ordinance.

(Code 1979, § 21-39.2; Ord. No. 2001-74, § 1, 11-20-01; Ord. No. E2013-07, § 3, 2-19-13; Ord. No. 2018-01, § 1, 1-23-18)