§ 15. Revenue Bonds and Agreements.

(1)

The Orlando Utilities Commission is authorized to issue revenue bonds for the purpose of financing or refinancing its electric power, fuel supply and water supply facilities, and may exercise all powers in connection with the authorization, issuance and sale of bonds as the same are conferred upon municipalities by Chapter 166, Part II, Florida Statutes, provided, however, that such bonds may be validated in accordance with Chapter 75, Florida Statutes.

(2)

The Utilities Commission shall have power by resolution to make agreements and covenants with the City of Orlando and the holders of any revenue bonds or other obligations issued to finance, in whole or in part, any repairs, extensions or improvements of the sewer system of the City with respect to the billing and collecting of fees, rentals or other charges for the facilities and services of such sewer system, or any other duties or acts delegated to and assumed by such Utilities Commission with respect to said sewer system of the City. All such agreements and covenants shall constitute and be deemed valid contracts between the said Utilities Commission and the holders of any revenue bonds or other obligations issued to finance, in whole or in part, any repairs, extensions or improvements of such sewer system, and may be enforced by any holder of such revenue bonds or other obligations in any court of competent jurisdiction; subject, however, to any provisions for enforcement thereof which may be contained in such agreements or covenants or in the resolution or resolutions of the governing body of the City of Orlando pursuant to which such revenue bonds or other obligations were issued.

(Laws of Fla. ch. 24758 (1947), §3; Laws of Fla. ch. 86-421, §2)