Sec. 490.108. - Issuance of notes and revenue bonds.

The Authority is authorized pursuant to F.S. §§ 154.217, 154.219 and 154.235 and F.S. Ch. 159, Pt. III to issue notes and revenue bonds, including refunding bonds. All bonds issued pursuant to this Chapter 490 shall include payment of the application fee, issuance fee, and special review counsel fee set forth in Section 104.305 , Ordinance Code. All such fee revenues shall be deposited into an account in the City's General Fund established for the purposes of this Chapter 490 , and surplus fee revenue, if any, shall be turned over to the City at the end of each fiscal year to be applied, with other appropriated funds, for the benefit of indigent patient health care. The notes and bonds to be issued under the authority of F.S. Ch. 159, Pt. II may be issued solely to finance or refinance projects which are health care facilities within the meaning of the Chapter and which are operated by not-for-profit organizations. The notes and revenue bonds of every issue shall be payable solely out of revenues derived by the Authority from the sale, operation or leasing of any project or projects or other payments received under financing agreements with respect thereto, subject only to any agreements with the holders of particular notes or revenue bonds pledging any particular revenues; and the Authority shall not pledge, and the Council hereby forbids any pledge of, the taxing power of the City or the full faith and credit of the City. Revenue bonds, including refunding bonds, may be issued by the Authority only upon approval by resolution of the Council. No revenue bonds may be sold at any interest rate higher than the rate then authorized by general law for bonds, certificates or other obligations issued by the City, nor shall any issue of revenue bonds be sold unless the rating assigned to the issue is at least Baa from Moody's Investor Services or BBB from Standard and Poor. (Ord. 78-656-589, § 1; Ord. 82-361-116, § 1; Ord. 83-93-109, § 1; Ord. 83-591-400, § 1; Ord. 2008-1038-E, § 2) Note— Former § 560.108.