Water [and sewer systems] revenue refunding bonds.

Tampa Related Laws, art. XXI, § 21.16

in effect

Sec. 21.16. - Water [and sewer systems] revenue refunding bonds. The Board [City Council] is hereby authorized to provide by resolution for the issuance of water revenue refunding bonds of the City for the purpose of refunding any of the outstanding bonds and any bonds issued under the provisions of this Act [division] and then outstanding, together with accrued interest thereon. The issuance of such refunding bonds, the maturities and other details thereof, the rights of the holders thereof, and the duties of the Board [City Council] in respect to the same, shall be governed by the foregoing provisions of this Act [division] insofar as the same may be applicable, and by the following provisions: (a) No water revenue refunding bonds shall be delivered, unless delivered in exchange for the bonds to be refunded thereby, except in the amount necessary to provide for the payment of matured or redeemable bonds or bonds maturing or redeemable within six months, including any accrued interest or redemption premium thereon. (b) No such refunding bonds shall be issued, unless issued to refund outstanding bonds or water revenue bonds which have matured or will mature within six months, or unless the interest rate of such refunding bonds shall be at least one-fourth of one per centum less than the interest rate borne by the bonds to be refunded. The Board [City Council] is further authorized to provide by resolution for the issuance of a single issue of water revenue bonds of the City for the combined purposes of (1) paying the cost of any improvements and of (2) refunding water revenue bonds of the City which shall have been issued under the provisions of this Act [division] and shall then be outstanding and which shall then be subject to redemption or can be acquired for retirement; provided, however, that the provisions of paragraph (b) of this Section shall not be applicable to revenue bonds issued for such combined purposes. Water and sewer systems revenue bonds authorized by this Ordinance [section] may be sold for a price less than the face amount thereof and may also make no provision for the payment of interest thereon. If the City Council of the City of Tampa proposes to issue any such bonds without provision for the payment of interest then the City Council is further authorized to provide by resolution for the omission of interest coupons with respect to such bonds. (Laws of Fla. 1941, Ch. 21593, § 9; Compiled Charter 1958, § 783; Ord. No. 7895-A, § 1, 2-25-82)

Source: City of Tampa, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/fl/tampa/codes/code_of_ordinances?nodeId=CHRELA_PTBRELA_ARTXXIUTATSY_DIV2COFU_S21.16WAASESYREREBOFetched: 10/28/2026