State Attorneys for the Second, Seventh and Ninth Judicial Circuits v. Florida Pace Funding Agency, etc.; et al.
The Florida Supreme Court held that Florida Rule of Civil Procedure 1.540 does not apply in statutory bond validation proceedings under chapter 75, affirming the circuit court's denial of governmental entities' post-judgment motions seeking to vacate a $5 billion PACE bond validation judgment entered in 2022. The ruling reinforces the absolute finality of bond validation judgments once the thirty-day appeal window closes.
Key facts
- Florida PACE Funding Agency (FPFA) filed a bond validation complaint in Florida's Second Judicial Circuit under chapter 75, seeking a judgment validating the issuance of $5 billion in revenue bonds to fund Property Assessed Clean Energy (PACE) qualifying improvements.
- State Attorneys for the Second, Seventh, and Ninth Judicial Circuits were notified and appeared at the validation hearing; an assistant state attorney reviewed the proposed final judgment, described it as 'fairly straightforward,' and did not object to its entry.
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Holdings
- Florida Rule of Civil Procedure 1.540 is unavailable to challenge a final judgment in a bond validation proceeding; chapter 75's sui generis scheme with a strict finality clause and narrow…
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