State v. Division of Bond Finance

The state appeals a trial court’s validation of up to $300,000,000 in housing revenue bonds. We have jurisdiction pursuant to article Y, section 3(b)(2), Florida Constitution, and affirm the trial court’s order validating these proposed bonds.

In June 1987 the Florida Housing Finance Agency adopted a resolution asking the Division of Bond Finance (DBF) to issue not more than $300,000,000 of housing revenue bonds. The governor and cabinet, sitting as DBF’s governing board, adopted a resolution authorizing the bonds early in 1988. Attorneys for DBF then filed a complaint for validation. After a…