THE STATE OF FLORIDA ET AL., APPELLANTS,
v.
COUNTY OF ST. JOHNS, FLORIDA, APPELLEE
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The Florida Supreme Court affirmed a lower court's validation of a bond issue for St. Johns County, finding it similar to previously approved bond issues in other counties. The court determined the county had sufficient funds and taxable property to cover the debt.
Yes, the bond issue for St. Johns County should be validated. The estimated funds available and the ratio of taxable property to the bond amount are sufficient.
“The bond issue validated in the proceedings in the court below is for the same purpose and is in most respects identical with those with which we were concerned in State of Florida v. County of Flagler, Fla., 77 So. 2d 765, and State v. County of Brevard, Fla., 77 So. 2d 767.”
Establishes the similarity of the current bond issue to previously decided cases.
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Join FLexlaw to unlock all legal intelligenceThe case involved a bond issue for St. Johns County, Florida. The primary fund obligated to pay the bonds was an 80% surplus gas tax fund allocated to…
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ROBERTS, Justice.
The bond issue validated in the proceedings in the court below is for the same purpose and is in most respects identical with those with which we were concerned in State of Florida v. County of Flagler, Fla., 77 So. 2d 765, and State v. County of Brevard, Fla., 77 So. 2d 767. As in the other two cases, the amount estimated to be available in the fund primarily obligated to pay the bonds, that is, the 80 per cent, surplus gas tax fund allocated to St. Johns County, appears ample to carry the debt service requirements, and the ratio of the assessed valuation of the taxable property in the County to the amount of the bond issue for which the County is contingently liable is more favorable than in the Flagler County case.
The decree is, accordingly, affirmed under the authority of State of Florida v. County of Flagler. MATHEWS, C. J., and TERRELL and SEBRING, JJ., concur.
Cases With Similar Vibessemantic neighbors from the corpus
Citator
Authorities Cited
- State v. Cnty. OF Flagler, 77 So. 2d 765 (Fla. 1955)
- State v. Cnty. OF Brevard, 77 So. 2d 767 (Fla. 1955)