Definitions

279.02

Definitions.

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As used in this act, the following terms have the following meanings, unless the context otherwise requires:

(1)

“Authorized officer” means any individual required or permitted, alone or with others, by any provision of law or by the issuing public entity to execute on behalf of the public entity a certificated registered public obligation or a writing relating to an uncertificated registered public obligation.

(2)

“Certificated registered public obligation” means a registered public obligation which is represented by an instrument.

(3)

“Code” means the Internal Revenue Code of 1954, as amended.

(4)

“Facsimile seal” means the reproduction of the seal of the issuer or the official or official body by engraving, imprinting, stamping, or other means.

(5)

“Facsimile signature” means the reproduction of a manual signature by engraving, imprinting, stamping, or other means.

(6)

“Financial intermediary” means a bank, broker, clearing corporation, or other person, or the nominee of any of them, which intermediary in the ordinary course of its business maintains registered public obligation accounts for its customers, when so acting.

(7)

“Issuer” means a public entity which issues an obligation.

(8)

“Obligation” means a bond, certificate, note, or other evidence of indebtedness including, but not limited to, an agreement of a public entity to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, or an instrument purchase agreement, or otherwise, and includes a share, participation, or other interest in any such agreement.

(9)

“Official actions” means the actions by statute, order, ordinance, resolution, contract, or other authorized means by which the issuer provides for issuance of a registered public obligation.

(10)

“Official or official body” means the officer or board of an issuer empowered under the laws of one or more states, territories, or possessions of the United States, including the District of Columbia and the State of Florida, to authorize and provide for original issuance of an obligation of the issuer by defining the obligation and its terms, conditions, and other incidents; the successor or successors of any such official or official body; and such other person or group of persons as shall be assigned duties of such official or official body with respect to a registered public obligation under applicable law from time to time.

(11)

“Public entity” means any entity, department, or agency which is empowered under the laws of one or more states, territories, or possessions of the United States, including the District of Columbia and the State of Florida, to issue obligations, any interest with respect to which obligations may, under any provision of law, be provided an exemption from the income tax referred to in the code. The term “public entity” thus may include, without limitation, the State of Florida, an entity deriving powers from and acting pursuant to the State Constitution or a general or special legislative act, a political subdivision, a municipal corporation, a state university or college, a school or other special district, a joint agreement entity, a public authority, a public trust, a nonprofit corporation, and other organizations.

(12)

“Registered public obligation” means an obligation issued by a public entity pursuant to a system of registration.

(13)

“System of registration” or any of its variant terms means a plan that provides:

(a)

With respect to a certificated registered public obligation, that:

1.

The certificated registered public obligation specify a person entitled to the registered public obligation and the rights it represents; and

2.

The transfer of the certificated registered public obligation and the rights it represents may be registered upon books maintained for that purpose by or on behalf of the issuer.

(b)

With respect to an uncertificated registered public obligation, that:

1.

Books maintained by or on behalf of the issuer for the purpose of registration of the transfer of a registered public obligation specify a person entitled to the registered public obligation and the rights evidenced thereby; and

2.

The transfer of the uncertificated registered public obligation and the rights evidenced thereby be registered upon such books.

(14)

“Uncertificated registered public obligation” means a registered public obligation which is not represented by an instrument.

History.

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s. 2, ch. 83-271.