§ 252-107. Bond authorization and provisions.

(a)

The construction or acquisition or improvement of such solid waste disposal system, or the refunding of any bonds or other obligations heretofore or hereafter issued for such purposes whether issued pursuant to the provisions of this article or some other law or laws, may be authorized under this article, and bonds may be authorized to be issued under this article to provide funds for such purposes by resolution or resolutions of the board of county commissioners of Brevard County, Florida, which may be adopted at the same meeting at which they are introduced by a majority of the members thereof then in office, and shall take effect immediately upon adoption and need not be published or posted. Said bonds shall bear interest at such rates without limitation as the governing body shall determine to be necessary to sell said bonds and may be in one or more series, may bear such date or dates, may mature at such time or times not exceeding 40 years from their respective dates, may be made payable in such medium of payment, at such place, within or without the state, may carry such registration privileges, may be subject to such terms of redemption prior to maturity, with or without premium, may be executed in such manner, may contain such terms, covenants and conditions, and may be in such form, either coupon or registered, as such resolution or subsequent resolution may provide. Said bonds may be sold, all at one time or in blocks from time to time, at public or private sale, or if refunding bonds or if delivered in payment for the acquisition of existing facilities or for the construction of facilities of said solid waste disposal system, may be delivered and exchanged for the outstanding obligations to be refunded or delivered in exchange for said existing facilities or facilities constructed, in such manner and at such price or prices as the governing body shall determine by resolution. Pending the preparation of the definitive bonds, interim certificates or receipts or temporary bonds in such form and with such provisions as the governing body may determine may be issued to the purchaser or purchasers of the bonds sold pursuant to this article. Said bonds, and such interim certificates or receipts or temporary bonds, shall be fully negotiable within the meaning of and for all purposes of the law merchant and the uniform commercial code-investment securities law of the state of Florida.

(b)

Bonds issued pursuant to this article may also be delivered to the contractor or contractors constructing said solid waste disposal system or any part thereof, or improvements thereto, or to the owners of any solid waste disposal system or other facilities acquired by the county, in exchange for such facilities constructed or acquired, at a price not in excess of the fair value of such facilities constructed or acquired, as determined by the board of county commissioners of said county.

(Laws of Fla. ch. 67-1146, § 7; Laws of Fla. ch. 69-872, § 1; Laws of Fla. ch. 70-594, § 3)