The governing body of every municipality may borrow money, contract loans, and issue bonds as defined in s. 166.101 from time to time to finance the undertaking of any capital or other project for the purposes permitted by the State Constitution and may pledge the funds, credit, property, and taxing power of the municipality for the payment of such debts and bonds.
Fla. Stat. § 166.111
Authority to borrow
Known as the Municipal Home Rule Powers Act
The act spans §§ 166–166 (61 sections).
History.--s. 1, ch. 73-129; s. 2, ch. 92-345; s. 159, ch. 2003-261.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.