Fla. Bankers Ass’n v. Fla. Dev. Fin. Corp.

The Florida Development Finance Corporation (FDFC), a corporate and political entity, filed a complaint in the circuit court of the Second Judicial Circuit in Leon County seeking to determine the validity of a series of bonds proposed to be issued to finance qualifying improvements pursuant to the Property Assessed Clean Energy Act (PACE Act). After a hearing, the circuit court validated the PACE bonds. The Florida Bankers Association (FBA) and Robert Reynolds, a property owner in Leon County, appealed the bond validation. The Supreme court (1) dismissed the appeal brought by FBA, as FBA had no standing to appear in this appeal; and (2) affirmed the circuit court’s amended final judgment validating the FDFC special assessment revenue bonds but remanded with instructions to require FDFC to amend the bond documents as set forth in this opinion. View "Fla. Bankers Ass’n v. Fla. Dev. Fin. Corp." on Justia Law