The governing body of a municipality may establish and administer such sinking funds as it deems necessary or convenient for the payment, purchase, or redemption of any outstanding bonded indebtedness of the municipality.
Fla. Stat. § 166.122
Establishment of sinking funds
Known as the Municipal Home Rule Powers Act
The act spans §§ 166–166 (61 sections).
History.--s. 1, ch. 73-129.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.