Summary
In Wolfe v. City of Ft. Lauderdale, Fla., 47 So.2d 781, there was a pledge of gross revenues which were shown by the evidence to be adequate to liquidate the bonds plus the cost of operating the facility.
Summary of this case from State v. Halifax Hospital DistrictOpinion
September 12, 1950.
Appeal from the Circuit Court for Broward County, C.E. Chillingworth, J.
Ross Williams, Fort Lauderdale, for appellant.
T.O. Berryhill, Fort Lauderdale, for appellee.
This appeal is from a final decree validating an issue of City of Fort Lauderdale Public Improvement Revenue Certificates, Series of 1950, hereinafter referred to as Revenue Certificates, for the purpose of improving and extending its municipally owned golf course and appurtenant clubhouse facilities. The appellant, a taxpayer in the city, was permitted to intervene and challenge the validity of said Revenue Certificates, but no assault is directed to the validity of the validation proceedings as such.
The primary contention is that the appellee was without authority to issue said Revenue Certificates and pledge the gross revenues derived from the operation of the municipal golf course and clubhouse without an approving vote of the freeholders as required by Section 6, Article IX of the Constitution, F.S.A.
It is shown that the proposed Revenue Certificates are a first lien on the gross revenue derived from the operation of the golf course and clubhouse, that the principal and interest of said Revenue Certificates shall be payable solely from said revenues and that under no circumstances shall they be serviced by the imposition of ad valorem taxes on the taxable property of the City. It is admitted that the city charter, Chapter 24514, Sp.Acts of 1947, authorizes the City to issue such Revenue Certificates payable as proposed.
It is further contended that since the gross revenues derived from the operation of the golf course and clubhouse are pledged for payment of principal and interest on the Revenue Certificates there may be nothing left to pay operating expenses, in which case the City will be relegated to the taxing power to pay the expense of operating said facilities.
The answer to this question is that the evidence shows that the revenues derived from the golf course and clubhouse will be ample to service the Revenue Certificates, pay the cost of operating the facilities and create a surplus for other purposes. At any rate, if such a contingency should arise and any attempt should be made to pay the cost of such administration by the imposition of ad valorem taxes, it would then be time to raise this question by suit to enjoin the taxes.
The decree appealed from is accordingly affirmed.
Affirmed.
ADAMS, C.J., and CHAPMAN, SEBRING, HOBSON and ROBERTS, JJ., concur.
THOMAS, J., not participating.