By October 1 of each year, each school district shall certify to the department the amount of debt service and participation requirement that complies with the requirement of paragraph (a) and can be reduced from the total discretionary millage revenue. The Auditor General shall verify compliance with the requirements of paragraph (a) and s. 1011.71(2)(e) during scheduled operational audits of school districts.
Any purchase, lease-purchase, or lease made pursuant to this subsection must be at the appraised value. For purposes of this subsection, the term "appraised value" means the fair market value as determined by an independent, Florida-licensed, qualified appraiser selected by the governing board. Documentation of the appraised value shall be provided to the department upon its request. Conversion charter schools may use capital outlay funds received through the reduction in the administrative fee provided in s. 1002.33(20) for renovation, repair, and maintenance of school facilities that are owned by the sponsor.
Fla. Stat. § 1013.62