August 07, 2020
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The Florida Statutes

The 2010 Florida Statutes(including Special Session A)

Title XIX
PUBLIC BUSINESS
Chapter 289
FLORIDA INDUSTRIAL DEVELOPMENT CORPORATION
View Entire Chapter
F.S. 289.031
289.031 Special corporate powers.In furtherance of its purposes and in addition to the powers now or hereafter conferred on business corporations generally by the provisions of general statute, the corporation shall, subject to the restrictions and limitations herein contained, have the following powers:
(1) To elect, appoint, and employ officers, agents, and employees and to make contracts and incur liabilities for any of the purposes of the corporation; but the corporation may not incur any secondary liability by way of guaranty or endorsement of the obligations of any person, firm, corporation, joint stock company, association, or trust or in any other manner.
(2) To borrow money from its members or the Small Business Administration or any other similar federal agency for any of the purposes of the corporation and to issue therefor its bonds, debentures, notes, or other evidences of indebtedness, whether secured or unsecured, and secure the same by mortgage, pledge, deed of trust, or other lien on its property, franchises, rights, and privileges of every kind and nature or any part thereof or interest therein, without securing stockholder or member approval; but no loan to the corporation may be secured in any manner unless all outstanding loans to the corporation are secured equally and ratably in proportion to the unpaid balance of such loans and in the same manner.
(3) To make loans to any person, firm, corporation, joint stock company, association, or trust and to establish and regulate the terms and conditions with respect to any such loans and the charges for interest and service connected therewith; but the corporation may not approve any application for a loan unless and until the person applying for the loan shows that he or she has applied for the loan through ordinary banking channels and that the loan has been refused by at least one bank or other financial institution.
(4) To purchase, receive, hold, lease, or otherwise acquire, and to sell, convey, transfer, lease, or otherwise dispose of, real property and personal property, together with such rights and privileges as may be incidental and appurtenant thereto and the use thereof, including, but not restricted to, any real or personal property acquired by the corporation from time to time in the satisfaction of debts or enforcement of obligations.
(5) To acquire the good will, business, rights, real property and personal property, and other assets, or any part thereof or interest therein, of any person, firm, corporation, joint stock company, association, or trust and to assume, undertake, or pay the obligations, debts, and liabilities of any such person, firm, corporation, joint stock company, association, or trust; to acquire improved or unimproved real estate for the purpose of constructing industrial plants or other business establishments thereon or for the purpose of disposing of such real estate to others for the construction of industrial plants or other business establishments; and to acquire, construct or reconstruct, alter, repair, maintain, operate, sell, convey, transfer, lease, or otherwise dispose of industrial plants or business establishments.
(6) To acquire, subscribe for, own, hold, sell, assign, transfer, mortgage, pledge, or otherwise dispose of the stock, shares, bonds, debentures, notes, or other securities and evidences of interest in, or indebtedness of, any person, firm, corporation, joint stock company, association, or trust and, while the owner or holder thereof, to exercise all the rights, powers, and privileges of ownership, including the right to vote thereon.
(7) To mortgage, pledge, or otherwise encumber any property, right, or thing of value, acquired pursuant to the powers contained in subsection (4), subsection (5), or subsection (6), as security for the payment of any part of the purchase price thereof.
(8) To cooperate with and avail itself of the facilities of the United States Department of Commerce, the Office of Tourism, Trade, and Economic Development, and any other similar state or federal governmental agency and to cooperate with, assist, and otherwise encourage organizations in the various communities of the state in the promotion, assistance, and development of the business prosperity and economic welfare of such communities or of this state or of any part thereof.
(9) To do all acts and things necessary or convenient to carry out the powers expressly granted in this act.
History.s. 3, ch. 61-177; ss. 17, 35, ch. 69-106; s. 1, ch. 73-283; s. 120, ch. 79-400; s. 21, ch. 83-216; s. 237, ch. 95-148; s. 118, ch. 96-320.
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