State v. Florida Hurricane Catastrophe Fund Finance Corp.

We have on appeal a decision of the trial court validating revenue bonds not to exceed $10 billion issued by the Florida Hurricane Catastrophe Fund Finance Corporation (the Corporation). We have jurisdiction. Art. V, § 3(b)(2), Fla. Const.

In the aftermath of Hurricane Andrew, the 1993 Legislature enacted section 215.555, Florida Statutes, which created the Florida Hurricane Catastrophe Fund (the Fund). The purpose of the Fund is to create and maintain additional insurance capacity for residential property insurers in the event of a catasti’ophic hurricane. § 215.555(1), Fla. Stat.…