State v. County of Brevard

126 So. 353, 99 Fla. 226
CourtSupreme Court of Florida
DecidedFebruary 1, 1930
StatusPublished
Cited by10 cases

This text of 126 So. 353 (State v. County of Brevard) is published on Counsel Stack Legal Research, covering Supreme Court of Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
State v. County of Brevard, 126 So. 353, 99 Fla. 226 (Fla. 1930).

Opinions

Whitfield, J.

This appeal is from a decree validating bonds to be issued by Brevard County under Chapter 13937, Acts of 1929, which is as follows :

“AN ACT to Provide a Unified System of County Hard-surfaced Highways and Bridges in Brevard County, Florida; to Declare Certain Roads and Bridges a County Purpose; to Authorize the Board of County Commissioners of Said County to Issue Five'Per Cent (5%) Bonds of Said County for the Purpose of Refunding, Retiring and Paying All Outstanding Bonds, Time Warrants and Other Indebtedness Against Any and All *229 Special Road and Bridge Districts of Said County, or to Exchange Such County Bonds for said District Bonds, or to Retiré Said District Bonds with County Taxes and to Abolish such Districts and'to Deliver thé Assets of Said District to Said County.

“Be It Enacted by the Legislature of the State of Florida'.

“Section 1. All roads and bridges heretofore' opened, built or constructed, in whole or in part, by any and all special road and bridge districts of Brevard County, Florida, are hereby declared and determined to have been a county purpose under the Constitution and Laws.of Florida at the time said roads and bridges wére opened, built or constructed and that the paying therefor is a county purpose.

“Section 2. The Board of County Commissioners of Brevard County, Florida, are hereby authorized to issue bonds of said county in the aggregate sum of not exceeding $1,200,000.00 to be designated county road and bridge bonds, such bonds to draw interest at the rate of. 5% per annum payable semi-annually and maturing serially, one,twentieth thereof to mature five years after date thereof and an additional one-twentieth to mature each year thereafter to and including the twenty-fifth year after the daté thereof, said bonds to be for the purpose hereinafter designated.

“Section 3. That said bonds provided for in Section 2 of this Act, or' the proceeds thereof, shall be- used for thé purpose of redeeming, paying, settling and cancelling and all bonds and time warrants of all spéeial road and bridge districts of Brevard County, Florida, being bonds and time warrants now issued and outstanding.

*230 “Section 4. That the Board of County Commissioners of Brevard County, Florida, be and they are hereby authorized, upon the issuance of such county road and bridge bonds, as provided' for in Sections 2 and 3 of this Act, to exchange in equal amounts such county road and bridge bonds for outstanding bonds and/or time warrants of the special road and bridge districts of said county mentioned in Section 3 of this Act, in all eases where the holders thereof are agreeable thereto, such exchange to be on the basis of par and accrued interest of new bonds for par and accrued interest of old bonds and time warrants, and in all cases where such exchange is effected thé old bonds or time warrants so redeemed shall thereupon be cancelled by said board. Any difference in amount of accrued interest may be settled by payment of cash, in the discretion of said board.

“Section 5.' "If the holders of outstanding special road and bridge district bonds and time warrants mentioned in Section 3 of this Act, are unwilling to exchange bonds for bonds or time warrants for bonds as provided for in Section 4 of this Act, but are willing to accept the reasonable market value of such outstanding special road and bridge district bonds and time warrants not exceeding 95% of par, then said Board is hereby authorized to sell so much of said road and bridge bonds provided for in Section 2 of this Act, at not less than 5% below par, as a means of making cash redemption of such bonds and time warrants of such special road and bridge districts, rather than by exchange as provided in Section 4 of this Act.

“Section 6. That upon the redemption or paying off of existing bonds and time warrants of any special road and bridge district in said county, now outstanding, either *231 by exchange or bonds, as provided for in Section 4 of this Act or by cash redemption, as provided for in Section 5 of this Act, then and in either such case, each special road •and bridge district whose bonds or time warrants shall have been so redeemed shall thereupon be disorganized and ■be without power to do any further act as a special road and bridge district and all assets of such district or districts shall be turned over to said county and shall be assets of said county.

“Section 7. That upon the disorganization of any special road and bridge district, as provided for in Section 6 of this Act, all interest and sinking fund moneys on hand and held by the Board of County Commissioners of.said County .on behalf of such district, shall be transferred into a special road maintenance fund, to be used by the County Commissioners of said County for the reconstruction, repair and maintenance of public roads and bridges-now existing in said county, or which may become public roads and bridges pursuant to the provisions of this Act, or said funds may be placed in a sinking fund to pay interest or principal of the county road and bridge bonds herein authorized, or said funds may be used to pay interest or principal of said special road and district bonds. The last alternative shall be preferred by said Board.

“Section 8. If it shall be deemed by said Board to be impossible to gain control of said special road and bridge district bonds now outstanding by exchange of county bonds for district bonds or by cash redemption as specified in this Act, then and in that event, said Board may annually levy a sufficient tax upon all taxable property in said County to pay installments of interest on all outstanding district bonds and to create a sinking fund to pay the principal of said- bonds at maturity.

*232 ‘ ‘ Section 9. That upon the issuance of county road and bridge bonds as provided for in Sections 2, 3 and 4 of this Act, the Board of County Commissioners shall annually levy a sufficient tax upon all taxable property in said county to meet installment's of interest on said county road and bridge bonds and to create a sufficient sinking fund to pay maturities of said bonds as provided for in Section 2 of this Act.

“Section 10. That the provisions of this Act shall be liberally construed in order to effectuate the establishment of a unified system of county roads and bridges in said County.' If'any section or provision of this Act shall be held to be void such holding shall not affect the remainder !of the Act or any part thereof unless the same is thereby rendered unworkable and ineffective. All bonds herein mentioned shall' share in any legislation that may be, or may have been, enacted by the Legislature in the year 1929, to assist counties and Special Road and Bridge Districts in paying bonded indebtedness.

“Section 11. This Act shall take effect immediately upon its becoming a law.

“Approved June 7, A. D. 1929,”

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Bluebook (online)
126 So. 353, 99 Fla. 226, Counsel Stack Legal Research, https://law.counselstack.com/opinion/state-v-county-of-brevard-fla-1930.