12746593, 19-5.001 - Florida Administrative Rules, Law, Code, Register

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Notice: 12746593

Notice of Development of Rulemaking

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

RULES AND REGULATIONS GOVERNING THE PROCEDURES FOR ISSUANCE OF BONDS AT AN INTEREST RATE IN EXCESS OF LEGAL LIMITATION

Overview

RULE:

19-5.001

Interest Rate Limitation on Sale of Bonds of Governmental Units

PURPOSE:

Amendments are being proposed to incorporate all of the relevant provisions in Rule Chapter 19-5 into Rule 19-5.001.  The provisions, which were last updated in 1996,  are being updated to ensure that it is clear that the review process does not differ depending on the amount of interest being requested.  Provisions also are being updated to set fort the types of information that the Executive Director & CIO should consider in conducting an informal review of a governmental unit’s application for authority to sell bonds at an interest rate in excess of the legal limitation.  Provisions also are being clarified to make it clear that the authorization to issue bonds at an interest rate in excess of the legal limitation expires 180 days after the authorization has been given. The amendments serve as informational updates. Statutory citations also are being updated.

SUBJECT:

To update and consolidate information to make the rules more concise and user-friendly.  To update statutory citations.

RULEMAKING AUTHORITY:

159.825(3), 215.52, 215.84(5) FS.

LAW:

159.825, 215.84 FS.

PRINT PUBLISH DATE:

3/12/2013 Vol. 39/49

RELATED STATUTES
AND LAWS:

159.825(3), 215.52, 215.84(5) FS., 159.825, 215.84 FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=19-5.001&PDate=3/12/2013&Section=1

REFERENCE MATERIALS:

No reference(s).

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