Florida Statutes 287.05805 – Contract requirement for use of state funds to purchase or improve real property
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 287.05805
- Agency: means any of the various state officers, departments, boards, commissions, divisions, bureaus, and councils and any other unit of organization, however designated, of the executive branch of state government. See Florida Statutes 287.012
- Contract: A legal written agreement that becomes binding when signed.
- Contractor: means a person who contracts to sell commodities or contractual services to an agency. See Florida Statutes 287.012
- political subdivision: include counties, cities, towns, villages, special tax school districts, special road and bridge districts, bridge districts, and all other districts in this state. See Florida Statutes 1.01
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Each state agency shall include in its standard contract document a requirement that any state funds provided for the purchase of or improvements to real property are contingent upon the contractor or political subdivision granting to the state a security interest in the property at least to the amount of state funds provided for at least 5 years from the date of purchase or the completion of the improvements or as further required by law.