Florida Senate - 2012 SB 576 By Senator Bennett 21-00626-12 2012576__ 1 A bill to be entitled 2 An act relating to public-private partnerships; 3 creating s. 287.05712, F.S.; establishing the Florida 4 Public-Private Partnership Act; providing definitions; 5 providing legislative findings and intent; providing 6 for private entities to develop and operate public 7 purpose projects; requiring public entities to adopt 8 and make publicly available specified guidelines for 9 public-private agreements; providing requirements and 10 procedures for procurement, consideration, and 11 approval of projects; providing an exemption from the 12 Consultant’s Competitive Negotiation Act and any 13 interpretations, regulations, or guidelines of the 14 Department of Management Services; providing 15 requirements and procedures for interim and 16 comprehensive agreements between private and public 17 entities; providing for affected local governments to 18 comment on proposed projects; providing powers and 19 duties for private entities; providing for material 20 default and remedies with respect to projects and 21 agreements; providing for federal, state, and local 22 financing; providing sovereign immunity for public 23 entities with respect to specified project activities; 24 providing for construction and effect of the act; 25 establishing the Public-Private Partnership Advisory 26 Commission; providing commission duties; providing for 27 appointment and reimbursement of commission members; 28 requiring the commission to submit annual reports to 29 the Governor and the Legislature; providing an 30 effective date. 31 32 Be It Enacted by the Legislature of the State of Florida: 33 34 Section 1. Section 287.05712, Florida Statutes, is created 35 to read: 36 287.05712 Florida Public-Private Partnership Act.- 37 (1) DEFINITIONS.—As used in this section, the term: 38 (a) “Affected local jurisdiction” means any county, city, 39 or town in which all or a portion of a qualifying project is 40 located. 41 (b) “Appropriating body” means the body responsible for 42 appropriating or authorizing funding to pay for a qualifying 43 project. 44 (c) “Comprehensive agreement” means the comprehensive 45 agreement between the private entity and the responsible public 46 entity. 47 (d) “Develop” or “development” means to plan, design, 48 develop, finance, lease, acquire, install, construct, or expand. 49 (e) “Interim agreement” means an agreement between a 50 private entity and a responsible public entity that provides for 51 phasing of the development or operation of a qualifying project. 52 Such phases may include, but are not limited to, design, 53 planning, engineering, environmental analysis and mitigation, 54 financial and revenue analysis, or any other phase of the 55 project that constitutes activity on any part of the qualifying 56 project. 57 (f) “Lease payment” means any form of payment, including a 58 land lease, by a public entity to the private entity for the use 59 of a qualifying project. 60 (g) “Material default” means any default by the private 61 entity in the performance of its duties that jeopardizes 62 adequate service to the public from a qualifying project. 63 (h) “Operate” means to finance, maintain, improve, equip, 64 modify, repair, or operate. 65 (i) “Private entity” means any natural person, corporation, 66 general partnership, limited liability company, limited 67 partnership, joint venture, business trust, public benefit 68 corporation, nonprofit entity, or other private business entity. 69 (j) “Proposal” means a detailed proposal accepted by a 70 responsible public entity beyond a conceptual level of review 71 and at which time issues such as fixing costs, payment 72 schedules, financing, deliverables, and project schedule are 73 defined. 74 (k) “Public entity” means the state and any agency or 75 authority thereof; any county, city, or town and any other 76 political subdivision of the state; any public body politic and 77 corporate; or any regional entity that serves a public purpose. 78 (l) “Qualifying project” means any: 79 1. Public-purpose facility or project, including, but not 80 limited to, a public school building and any functionally 81 related and subordinate facility, including any stadium or other 82 facility primarily used for school events. 83 2. Building or facility that meets a public purpose and is 84 developed or operated by or for any public entity. 85 3. Improvements, including equipment, of buildings to be 86 principally used by a public entity. 87 4. Water or wastewater management facility and other 88 related infrastructure. 89 (m) “Responsible public entity” means an agency or 90 institution of the state that has the authority to develop or 91 operate a qualifying project. 92 (n) “Revenues” means all revenues, income, earnings, user 93 fees, lease payments, or other service payments relating to the 94 development or operation of a qualifying project, including, but 95 not limited to, money received as grants or otherwise from the 96 Federal Government, from any public entity, or from any agency 97 or instrumentality of the foregoing in aid of a qualifying 98 project. 99 (o) “Service contract” means a contract entered into 100 between a public entity and the private entity. 101 (p) “Service payments” means payments to the private entity 102 of a qualifying project pursuant to a service contract. 103 (q) “User fees” means the rates, tolls, fees, or other 104 charges imposed by the private entity of a qualifying project 105 for use of all or a portion of such qualifying project pursuant 106 to a comprehensive agreement. 107 (r) “Water or wastewater management facility” means a 108 project for treatment, storage, disposal, or distribution of 109 water or wastewater. 110 (2) LEGISLATIVE FINDINGS AND INTENT.— 111 (a) The Legislature finds that: 112 1. There is a public need for timely and cost-effective 113 acquisition, design, construction, improvement, renovation, 114 expansion, equipping, maintenance, operation, implementation, or 115 installation of public projects, including educational 116 facilities, water or wastewater management facilities and 117 infrastructure, technology infrastructure, and any other public 118 infrastructure and government facilities within the state that 119 serve a public need and purpose, and that such public need may 120 not be wholly satisfied by existing methods of procurement. 121 2. There are inadequate resources to develop new 122 educational facilities, water or wastewater management 123 facilities and infrastructure, technology infrastructure and 124 other public infrastructure and government facilities for the 125 benefit of citizens of the state, and it has been demonstrated 126 that public-private partnerships can meet these needs by 127 improving the schedule for delivery, lowering the cost, and 128 providing other benefits to the public. 129 3. There are state and federal tax incentives that promote 130 partnerships between public and private entities to operate and 131 develop qualifying projects. 132 4. An action under subsection (4) serves the public purpose 133 of this section if such action facilitates the timely 134 development or operation of qualifying projects. 135 (b) The Legislature declares it is the intent of this 136 section to encourage investment in the state by private 137 entities, to facilitate various bond financing mechanisms, 138 private capital, and other funding sources for the development 139 and operation of qualifying projects, including expansion and 140 acceleration of such financing to meet the public need, and to 141 provide the greatest possible flexibility to public and private 142 entities to contract for the provision of public services. 143 (3) ADOPTION OF GUIDELINES BY RESPONSIBLE PUBLIC ENTITIES.— 144 (a) A responsible public entity shall, before requesting or 145 considering a proposal for a qualifying project, adopt and make 146 publicly available guidelines that are sufficient to enable the 147 responsible public entity to comply with this section. Such 148 guidelines shall be reasonable, encourage competition, and guide 149 the selection of projects under the purview of the responsible 150 public entity. 151 (b) For a responsible public entity that is an agency or 152 institution of the state, the guidelines shall include, but are 153 not limited to: 154 1. Opportunities for competition through public notice and 155 availability of representatives of the responsible public entity 156 to meet with private entities considering a proposal. 157 2. Reasonable criteria for choosing among competing 158 proposals. 159 3. Suggested timelines for selecting proposals and 160 negotiating an interim or comprehensive agreement. 161 4. Authorization for accelerated selection and review and 162 documentation timelines for proposals involving a qualifying 163 project that the responsible public entity deems a priority. 164 5. Financial review and analysis procedures that shall 165 include, at a minimum, a cost-benefit analysis, an assessment of 166 opportunity cost, and consideration of the results of all 167 studies and analyses related to the proposed qualifying project. 168 These procedures shall also include requirements for the 169 disclosure of such analysis to the appropriating body for review 170 prior to execution of an interim or comprehensive agreement. 171 6. Consideration of the nonfinancial benefits of a proposed 172 qualifying project. 173 7. A mechanism for the appropriating body to review a 174 proposed interim or comprehensive agreement prior to execution. 175 8. Establishment of criteria for the creation of and the 176 responsibilities of a public-private partnership oversight 177 committee with members representing the responsible public 178 entity and the appropriating body. Such criteria shall include 179 the scope, costs, and duration of the qualifying project, as 180 well as whether the project involves or impacts multiple public 181 entities. The oversight committee, if formed, shall be an 182 advisory committee to review the terms of any proposed interim 183 or comprehensive agreement. 184 9. Analysis of the adequacy of the information released 185 when seeking competing proposals and providing for the 186 enhancement of that information, if deemed necessary, to 187 encourage competition. 188 10. Establishment of criteria, key decision points, and 189 approvals required to ensure that the responsible public entity 190 considers the extent of competition before selecting proposals 191 and negotiating an interim or comprehensive agreement. 192 11. The posting and publishing of public notice of a 193 private entity’s request for approval of a qualifying project, 194 including: 195 a. Specific information and documentation to be released 196 regarding the nature, timing, and scope of the qualifying 197 project. 198 b. A reasonable time period as determined by the 199 responsible public entity to encourage competition and public 200 private partnerships in accordance with the goals of this 201 section, such reasonable period to be at least 45 days, during 202 which time the responsible public entity shall receive competing 203 proposals. 204 c. A requirement for advertising the public notice and 205 posting a notice on the Internet. 206 (c) For a responsible public entity that is not an agency 207 or institution of the state, the guidelines may include the 208 provisions set forth in this subsection at the discretion of the 209 public entity. However, the guidelines shall include: 210 1. A requirement that the responsible public entity engage 211 the services of qualified professionals, which may include an 212 architect, professional engineer, or certified public 213 accountant, not otherwise employed by the responsible public 214 entity, to provide an independent analysis regarding the 215 specifics, advantages, disadvantages, and the long and short 216 term costs of any request by a private entity for approval of a 217 qualifying project unless the governing body of the responsible 218 public entity determines that such analysis shall be performed 219 by employees of the responsible public entity. 220 2. A mechanism for the appropriating body to review a 221 proposed interim or comprehensive agreement prior to execution. 222 (4) PROCUREMENT PROCEDURES FOR RESPONSIBLE PUBLIC 223 ENTITIES.—The Consultant’s Competitive Negotiation Act under s. 224 287.055 and any interpretations, regulations, or guidelines of 225 the Department of Management Services do not apply to this 226 section. However, a responsible public entity may enter into an 227 interim or comprehensive agreement as follows: 228 (a) A responsible public entity shall not be required to 229 select the proposal with the lowest bid offer, but may consider 230 price as one factor in evaluating the proposals received. Other 231 factors that may be considered include: 232 1. The proposed costs of the qualifying facility. 233 2. The general reputation, industry experience, and 234 financial capacity of the private entity. 235 3. The proposed design of the qualifying project. 236 4. The eligibility of the facility for accelerated 237 selection, review, and documentation timelines under the 238 responsible public entity’s compliance with a minority business 239 enterprise participation plan or good faith effort to comply 240 with the goals of such plan. 241 5. The private entity’s plans to employ local contractors 242 and residents. 243 6. Other criteria that the responsible public entity deems 244 appropriate. 245 (b) A responsible public entity shall proceed in accordance 246 with the guidelines adopted under subsection (3) unless it 247 determines that proceeding in accordance with the guidelines is 248 likely to be advantageous to the responsible public entity and 249 the public, based on: 250 1. The probable scope, complexity, or priority of the 251 project. 252 2. Risk sharing, including guaranteed cost or completion 253 guarantees, added value or debt, or equity investments proposed 254 by the private entity. 255 3. An increase in funding, dedicated revenue source, or 256 other economic benefit that would not otherwise be available. 257 258 When the responsible public entity determines to proceed 259 according to the guidelines adopted by it pursuant to subsection 260 (3), it shall state the reasons for its determination in 261 writing. 262 (c) A responsible public entity shall not proceed to 263 consider any request by a private entity for approval of a 264 qualifying project until the responsible public entity has 265 adopted and made publicly available guidelines that are 266 sufficient to enable the responsible public entity to comply 267 with this section. 268 (d) A responsible public entity that is a school board or a 269 county, city, or town may enter into an interim or comprehensive 270 agreement under this section only with the approval of the local 271 governing body. 272 (5) CONSIDERATION AND APPROVAL OF QUALIFYING PROJECTS.— 273 (a) A responsible public entity may request proposals or 274 invite bids from private entities for the development or 275 operation of qualifying projects pursuant to the public notice 276 and procurement provisions of this section. A private entity may 277 request the approval of the responsible public entity for a 278 qualifying project. 279 (b) A request by a private entity for approval of a 280 qualifying project shall be accompanied by the following 281 material and information unless waived by the responsible public 282 entity: 283 1. A topographic map with a scale of 1:2,000 or other 284 appropriate scale indicating the location of the qualifying 285 project. 286 2. A description of the qualifying project, including the 287 conceptual design of such facility or facilities or a conceptual 288 plan for the provision of services, and a schedule for the 289 initiation of and completion of the qualifying project to 290 include the proposed major responsibilities and timeline for 291 activities to be performed by both the public and private 292 entity. 293 3. A statement setting forth the method by which the 294 private entity proposes to secure any necessary property 295 interests required for the qualifying project. 296 4. Information relating to the current plans for 297 development of facilities or technology infrastructure to be 298 used by a public entity that is similar to the qualifying 299 project being proposed by the private entity, if any, of each 300 affected local jurisdiction. 301 5. A list of all permits and approvals required for the 302 qualifying project from local, state, or federal agencies and a 303 projected schedule for obtaining such permits and approvals. 304 6. A list of public water or wastewater management 305 facilities, if any, that will be crossed by the qualifying 306 project and a statement of the plans of the private entity to 307 accommodate such crossings. 308 7. A statement setting forth the private entity’s general 309 plans for financing the qualifying project, including the 310 sources of the private entity’s funds and identification of any 311 dedicated revenue source or proposed debt or equity investment 312 on the behalf of the private entity. 313 8. The names and addresses of the persons who may be 314 contacted for further information concerning the request. 315 9. User fees, lease payments, and other service payment 316 over the term of an interim or comprehensive agreement and the 317 methodology and circumstances for changes to such user fees, 318 lease payments, and other service payments over time. 319 10. Additional material and information as the responsible 320 public entity may reasonably request. 321 (c) Upon receipt of a proposal to develop or operate a 322 qualifying project, the responsible public entity shall 323 determine whether to accept the proposal for consideration. The 324 responsible public entity may reject any proposal initiated by a 325 private entity at any time. If the responsible public entity 326 determines not to accept the proposal for consideration, the 327 responsible public entity shall return the proposal to the 328 private entity, including all fees and accompanying 329 documentation. 330 (d) The responsible public entity may approve the 331 development or operation of an education facility, a water or 332 wastewater management facility and related infrastructure, 333 technology infrastructure or other public infrastructure, or a 334 government facility needed by a public entity as a qualifying 335 project, or the design or equipping of a qualifying project so 336 developed or operated, if: 337 1. There is a public need for or benefit derived from a 338 project of the type the private entity proposes as a qualifying 339 project. 340 2. The estimated cost of the qualifying project is 341 reasonable in relation to similar facilities. 342 3. The private entity’s plans will result in the timely 343 acquisition, design, construction, improvement, renovation, 344 expansion, equipping, maintenance, or operation of the 345 qualifying project. 346 (e) In evaluating any request, the responsible public 347 entity may rely upon internal staff reports prepared by 348 personnel familiar with the operation of similar facilities or 349 the advice of external advisors or consultants having relevant 350 experience. 351 (f) The responsible public entity may charge a reasonable 352 fee to cover the costs of processing, reviewing, and evaluating 353 the request, including, but not limited to, reasonable attorney 354 fees and fees for financial, technical, and other necessary 355 advisors or consultants. 356 (g) Upon approval of a qualifying project, the responsible 357 public entity shall establish a date for the commencement of 358 activities related to the qualifying project. The responsible 359 public entity may extend such date. 360 (h) Approval of a qualifying project by the responsible 361 public entity is subject to entering into a comprehensive 362 agreement with the private entity. 363 (6) INTERIM AGREEMENT.—Before or in connection with the 364 negotiation of a comprehensive agreement, the responsible public 365 entity may enter into an interim agreement with the private 366 entity proposing the development or operation of the qualifying 367 project. The interim agreement may: 368 (a) Permit the private entity to commence activities for 369 which it may be compensated related to the proposed qualifying 370 project, including, but not limited to, project planning and 371 development, design and engineering, environmental analysis and 372 mitigation, survey, and ascertaining the availability of 373 financing for the proposed facility or facilities. 374 (b) Establish the process and timing of the negotiation of 375 the comprehensive agreement. 376 (c) Contain any other provisions related to any aspect of 377 the development or operation of a qualifying project that the 378 responsible public entity and the private entity deem 379 appropriate. 380 (7) COMPREHENSIVE AGREEMENT.— 381 (a) Before developing or operating the qualifying project, 382 the private entity shall enter into a comprehensive agreement 383 with the responsible public entity. The comprehensive agreement 384 shall provide for: 385 1. Delivery of maintenance, performance, and payment bonds 386 and letters of credit in connection with the development or 387 operation of the qualifying project, in the forms and amounts 388 satisfactory to the responsible public entity for those 389 components of the qualifying project that involve construction. 390 2. Review of plans and specifications for the qualifying 391 project by the responsible public entity and approval by the 392 responsible public entity if the plans and specifications 393 conform to standards acceptable to the responsible public 394 entity. This subparagraph does not require the private entity to 395 complete the design of a qualifying project prior to the 396 execution of a comprehensive agreement. 397 3. Inspection of the qualifying project by the responsible 398 public entity to ensure that the operator’s activities are 399 acceptable to the responsible public entity in accordance with 400 the provisions of the comprehensive agreement. 401 4. Maintenance of a policy or policies of public liability 402 insurance, copies of which shall be filed with the responsible 403 public entity accompanied by proofs of coverage, and self 404 insurance, each in the form and amount satisfactory to the 405 responsible public entity and reasonably sufficient to insure 406 coverage of tort liability to the public and employees and to 407 enable the continued operation of the qualifying project. 408 5. Monitoring the practices of the private entity by the 409 responsible public entity to ensure that the qualifying project 410 is properly maintained. 411 6. Reimbursement to be paid to the responsible public 412 entity for services provided by the responsible public entity. 413 7. Filing of appropriate financial statements on a periodic 414 basis. 415 8. Policies and procedures governing the rights and 416 responsibilities of the responsible public entity and the 417 private entity in the event the comprehensive agreement is 418 terminated or there is a material default by the private entity. 419 Such policies and guidelines shall include conditions governing 420 assumption of the duties and responsibilities of the private 421 entity by the responsible public entity and the transfer or 422 purchase of property or other interests of the private entity by 423 the responsible public entity. 424 9. User fees, lease payments, or service payments as may be 425 established by agreement of the parties. A copy of any service 426 contract shall be filed with the responsible public entity. In 427 negotiating user fees under this subsection, the parties shall 428 establish payments or fees that are the same for persons using 429 the facility under like conditions and that will not materially 430 discourage use of the qualifying project. The execution of the 431 comprehensive agreement or any amendment thereto shall 432 constitute conclusive evidence that the user fees, lease 433 payments, or service payments provided for comply with this 434 section. User fees or lease payments established in the 435 comprehensive agreement as a source of revenues may be in 436 addition to, or in lieu of, service payments. 437 10. Duties of the private entity, including terms and 438 conditions that the responsible public entity determines serve 439 the public purpose of this section. 440 (b) The comprehensive agreement may include: 441 1. An agreement by the responsible public entity to make 442 grants or loans to the private entity from amounts received from 443 the federal, state, or local government or any agency or 444 instrumentality thereof. 445 2. Provisions under which the responsible public entity 446 agrees to provide notice of default and cure rights for the 447 benefit of the private entity and the persons specified therein 448 as providing financing for the qualifying project, including 449 terms and conditions to which the private entity and the 450 responsible public entity mutually agree, including but limited 451 to, provisions regarding unavoidable delays or a loan of public 452 funds to the private entity to develop or operate one or more 453 qualifying projects. 454 3. Provisions where the authority and duties of the private 455 entity under this section shall cease, and the qualifying 456 project is dedicated to the responsible public entity or, if the 457 qualifying project was initially dedicated by an affected local 458 jurisdiction, to such affected local jurisdiction for public 459 use. 460 (c) Any changes in the terms of the comprehensive 461 agreement, as agreed upon by the responsible public entity and 462 the private entity, shall be added to the comprehensive 463 agreement by written amendment. 464 (d) The comprehensive agreement may provide for the 465 development or operation of phases or segments of the qualifying 466 project. 467 (8) AFFECTED LOCAL JURISDICTIONS.— 468 (a) Any private entity requesting approval from, or 469 submitting a proposal to, a responsible public entity shall 470 notify each affected local jurisdiction by furnishing a copy of 471 its request or proposal to each affected local jurisdiction. 472 (b) Each affected local jurisdiction that is not a 473 responsible public entity for the respective qualifying project 474 shall, within 60 days after receiving such notice, submit any 475 comments it may have in writing on the proposed qualifying 476 project to the responsible public entity and indicate whether 477 the facility is compatible with the local comprehensive plan, 478 local infrastructure development plans, the capital improvements 479 budget, or other government spending plan. Such comments shall 480 be given consideration by the responsible public entity before 481 entering a comprehensive agreement with a private entity. 482 (9) POWERS AND DUTIES OF THE PRIVATE ENTITY.— 483 (a) The private entity has all power allowed by law 484 generally to a private entity having the same form of 485 organization as the private entity and shall have the power to 486 develop or operate the qualifying project and collect lease 487 payments, impose user fees, or enter into service contracts in 488 connection with use thereof. 489 (b) The private entity may own, lease, or acquire any other 490 right to use or operate the qualifying project. 491 (c) Any financing of the qualifying project may be in such 492 amounts and upon such terms and conditions as may be determined 493 by the private entity. Without limiting the generality of the 494 foregoing, the private entity may issue debt, equity, or other 495 securities or obligations; enter into sale and leaseback 496 transactions; and secure any financing with a pledge of, 497 security interest in, or lien on any or all of its property, 498 including all of its property interests in the qualifying 499 project. 500 (d) In operating the qualifying project, the private entity 501 may make classifications according to reasonable categories for 502 assessment of user fees and, with the consent of the responsible 503 public entity, make and enforce reasonable rules to the same 504 extent that the responsible public entity may make and enforce 505 rules with respect to similar facilities. 506 (e) The private entity shall: 507 1. Develop or operate the qualifying project in a manner 508 that is acceptable to the responsible public entity, all in 509 accordance with the provisions of an interim or comprehensive 510 agreement. 511 2. Maintain, or provide by contract for the maintenance or 512 upgrade of the qualifying project, if required by an interim or 513 comprehensive agreement. 514 3. Cooperate with the responsible public entity in making 515 best efforts to establish any interconnection with the 516 qualifying project requested by the responsible public entity. 517 4. Comply with the provisions of an interim or 518 comprehensive agreement and any lease or service contract. 519 (f) A private entity of a qualifying project is not 520 prohibited from providing additional services for the qualifying 521 project to public or private entities other than the responsible 522 public entity so long as the provision of additional service 523 does not impair the private entity’s ability to meet its 524 commitments to the responsible public entity pursuant to an 525 interim or comprehensive agreement. 526 (10) MATERIAL DEFAULT; REMEDIES.— 527 (a) In the event of a material default by the private 528 entity, the responsible public entity may elect to assume the 529 responsibilities and duties of the private entity of the 530 qualifying project, and in such case, it shall succeed to all of 531 the right, title, and interest in such qualifying project, 532 subject to any liens on revenues previously granted by the 533 private entity to any person providing financing thereof. 534 (b) Any responsible public entity having the power of 535 condemnation under state law may exercise such power of 536 condemnation to acquire the qualifying project in the event of a 537 material default by the private entity. Any person who has 538 provided financing for the qualifying project, and the private 539 entity, to the extent of its capital investment, may participate 540 in the condemnation proceedings with the standing of a property 541 owner. 542 (c) The responsible public entity may terminate, with 543 cause, an interim or comprehensive agreement and exercise any 544 other rights and remedies that may be available to it at law or 545 in equity. 546 (d) The responsible public entity may make or cause to be 547 made any appropriate claims under the maintenance, performance, 548 or payment bonds, or lines of credit. 549 (e) In the event the responsible public entity elects to 550 take over a qualifying project, the responsible public entity 551 may develop or operate the qualifying project, impose user fees, 552 impose and collect lease payments for the use thereof and comply 553 with any service contracts as if it were the private entity. Any 554 revenues that are subject to a lien shall be collected for the 555 benefit of and paid to secured parties, as their interests may 556 appear, to the extent necessary to satisfy the private entity’s 557 obligations to secured parties, including the maintenance of 558 reserves. Such liens shall be correspondingly reduced and, when 559 paid off, released. Before any payments to, or for the benefit 560 of, secured parties, the responsible public entity may use 561 revenues to pay current operation and maintenance costs of the 562 qualifying project, including compensation to the responsible 563 public entity for its services in developing and operating the 564 qualifying project. The right to receive such payment, if any, 565 shall be considered just compensation for the qualifying 566 project. The full faith and credit of the responsible public 567 entity shall not be pledged to secure any financing of the 568 private entity by the election to take over the qualifying 569 project. Assumption of the development or operation of the 570 qualifying project shall not obligate the responsible public 571 entity to pay any obligation of the private entity from sources 572 other than revenues. 573 (11) FEDERAL, STATE, AND LOCAL FINANCING.— 574 (a) Any financing of a qualifying project may be in such 575 amounts and upon such terms and conditions as determined by an 576 interim or comprehensive agreement between the responsible 577 public entity and the private entity. Without limiting the 578 generality of the terms and conditions of the financing, the 579 private entity and the responsible public entity may propose to 580 use any and all funding resources that may be available and may, 581 to the fullest extent permitted by applicable law, issue debt, 582 equity, or other securities or obligations; enter into leases; 583 access any designed trust funds; borrow or accept grants from 584 any state infrastructure bank; and secure any financing with a 585 pledge of, security interest in, or lien on, any or all of its 586 property, including all of its property interests in the 587 qualifying facility. 588 (b) The responsible public entity may take any action to 589 obtain federal, state, or local assistance for a qualifying 590 project that serves the public purpose of this section and may 591 enter into any contracts required to receive such assistance. If 592 the responsible public entity is a state agency, any funds 593 received from the state or federal government or any agency or 594 instrumentality thereof shall be subject to appropriation by the 595 Legislature. The responsible public entity may determine that it 596 serves the public purpose of this section for all or any portion 597 of the costs of a qualifying project to be paid, directly or 598 indirectly, from the proceeds of a grant or loan made by the 599 local, state, or federal government or any agency or 600 instrumentality thereof. 601 (12) SOVEREIGN IMMUNITY.—This section does not waive the 602 sovereign immunity of the state, any responsible public entity, 603 any affected local jurisdiction, or any officer or employee 604 thereof with respect to the participation in, or approval of all 605 or any part of the qualifying project or its operation, 606 including, but not limited to, interconnection of the qualifying 607 project with any other infrastructure or project. Counties, 608 cities, and towns in which a qualifying project is located 609 possess sovereign immunity with respect to the project’s design, 610 construction, and operation. 611 (13) CONSTRUCTION AND EFFECT.—This section shall be 612 liberally construed to effectuate the purposes thereof. This 613 section does not affect the authority of the responsible public 614 entity to take action that would impact the debt capacity of the 615 state. 616 (14) PUBLIC-PRIVATE PARTNERSHIP ADVISORY COMMISSION.— 617 (a) The Public-Private Partnership Advisory Commission is 618 established to review the implementation of this section and to 619 provide recommendations for any revisions necessary to further 620 support public-private partnership opportunities in the state. 621 (b) The commission shall consist of 12 members, as follows: 622 1. Two members of the House of Representatives, appointed 623 by the Speaker of the House of Representatives. 624 2. Two members of the Senate, appointed by the President of 625 the Senate. 626 3. Eight members appointed by the Governor, as follows: 627 a. Four local government officials. 628 b. Two state agency representatives. 629 c. Two representatives of the private sector. 630 631 All terms are for 4 years, except those members of the House of 632 Representatives and Senate, who shall serve on the commission 633 until the expiration of their terms of office or until their 634 successors qualify. 635 (c) The members of the commission shall elect a chairperson 636 and a vice chairperson. The commission shall hold public 637 meetings at least quarterly or upon the call of the chairperson. 638 A majority of the commission constitutes a quorum. 639 (d) Members of the commission are entitled to receive per 640 diem and travel expenses as provided in s. 112.061. 641 (e) Administrative staff support shall be provided by the 642 Executive Office of the Governor, as appropriate. 643 (f) A copy of the minutes from each commission meeting 644 shall be provided to and maintained by the Governor, the 645 President of Senate, and the Speaker of the House of 646 Representatives. 647 (g) Beginning on December 13, 2013, and each year 648 thereafter, the commission shall submit a report providing 649 comments on the implementation of this section and 650 recommendations for future revisions to the Governor, the 651 President of the Senate, and the Speaker of the House of 652 Representatives. 653 Section 2. This act shall take effect July 1, 2012.