Florida Florida Statutes
§ 163.09 — Utility Cost Containment Bond Act
FS § 163.09Ch. 163
Statute text
View on source(1)SHORT TITLE.—This section may be cited as the “Utility Cost Containment Bond Act.”
(2)DEFINITIONS.—As used in this section, the term:(a) “Authority” means:1. A legal entity created under s. 163.01(7)(g); or 2. A legal entity created under s. 163.01, composed of at least two of the following:a. A public agency that provides retail water or wastewater services in two or more counties; b. A municipality; or c. A county. The authority or at least one member of the authority must provide retail water or wastewater services to at least 75,000 customers.
(b)“Cost,” as applied to a utility project or a portion of a utility project financed under this section, means:1. Any part of the expense of constructing, renovating, or acquiring lands, structures, real or personal property, rights, rights-of-way, franchises, easements, and interests acquired or used for a utility project; 2. The expense of demolishing or removing any buildings or structures on acquired land, including the expense of acquiring any lands to which the buildings or structures may be moved, and the cost of all machinery and equipment used for the demolition or removal; 3. 4. Interest, as determined by the authority; 5. Provisions for working capital and debt service reserves; 6. Expenses for extensions, enlargements, additions, replacements, renovations, and improvements; 7. Expenses for architectural, engineering, financial, accounting, and legal services, plans, specifications, estimates, and administration; or 8. Any other expenses necessary or incidental to determining the feasibility of constructing a utility project or incidental to the construction, acquisition, or financing of a utility project.
(c)“Customer” means a person receiving water or wastewater service from a publicly owned utility.
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Legislative history
s. 1, ch. 2016-124.