Opinion
November 17, 1950.
Appeal from the Circuit Court for Pinellas County, John Dickinson, J.
Chester B. McMullen, Clearwater, for appellant.
Ed W. Harris, St. Petersburg, for appellee.
This appeal is from a final decree validating (1) an issue of first mortgage recreation bonds. (2) An issue of second mortgage recreation revenue notes, and (3) a lease with option to purchase the recreation facilities to be provided with proceeds of the first mortgage recreation bonds. An election was held in which the bonds, notes and lease were approved by the freeholders as required by Section 6, Article IX of the Constitution, F.S.A., so there is no challenge to any constitutional mandate and it is admitted that all proceedings leading to the validation decree were regular.
It is contended (1) that the City of Treasure Island was devoid of constitutional or statutory authority to issue revenue bonds for the purpose of financing the cost of purchasing lands for the construction of recreational facilities, and (2) the city was without legal authority to execute a lease and option to purchase the said recreational facilities when completed.
There is no merit to either contention. Chapter 18953, Special Acts of 1937, as amended by Chapter 20179, Special Acts of 1939, is the basic authority relied on to issue the bonds and notes and execute the lease with option to purchase. We think the authority so conferred was ample and that the bonds, notes and the lease are lawful obligations of the city. We are also of the view that the bonds and notes must be serviced with income from rental of the recreational facilities and that the ad valorem tax structure of the city is in no way obligated to service them. Schmeller v. City of Fort Lauderdale, Fla., 38 So.2d 36.
The judgment appealed from is therefore affirmed.
Affirmed.
ADAMS, C.J., and CHAPMAN, THOMAS HOBSON and ROBERTS, JJ., concur.
SEBRING, J., not participating because of illness.