Each county designated as a research and development authority on June 30, 1979, or designated by the 1Board of Regents as a research and development authority prior to July 1, 2001, shall be entitled to continue to be designated and shall be accorded all powers conferred to designated authorities by ss. 159.701–159.7095, except that any authority not constituted and designated under the provisions of ss. 159.701–159.7095 shall be prohibited from exercising any power to issue revenue bonds or other debt obligations pursuant to s. 159.705(6) and (7).
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