Florida Senate - 2012 CS for SB 354
By the Committee on Transportation; and Senator Simmons
596-01759-12 2012354c1
1 A bill to be entitled
2 An act relating to the Seminole County Expressway
3 Authority; creating the Seminole County Expressway
4 Authority Law; providing definitions; creating the
5 Seminole County Expressway Authority; prohibiting an
6 entity or body or another authority from exercising
7 jurisdiction, control, authority, or power over an
8 expressway system in Seminole County without the
9 consent of the Seminole County Expressway Authority;
10 providing for membership and terms of the authority;
11 authorizing staffing; providing for certain
12 reimbursement for authority members; providing for the
13 powers and duties of the authority; providing for the
14 assumption of duties and responsibilities of the prior
15 Seminole County Expressway Authority for certain
16 contracts and agreements; requiring notice of public
17 hearing and an opportunity for municipal officials and
18 residents to discuss and advise the authority;
19 providing for the issuance of bonds; providing for
20 lease-purchase agreements between the Department of
21 Transportation and the authority; providing criteria
22 for the lease-purchase agreements; providing for use
23 of certain revenues as payments for the lease-purchase
24 agreements; authorizing the Department of
25 Transportation to use funds for the operation of the
26 authority and to generate preparatory information
27 necessary for an expressway system; providing for an
28 agent for construction; authorizing the authority to
29 appoint the department as its agent under certain
30 circumstances; authorizing the authority to acquire
31 land and properties; providing for the cooperation of
32 other entities to further the purposes of the act;
33 prohibiting the state from changing the terms of the
34 bonds; exempting the authority from certain taxes;
35 providing for the bond’s eligibility for investments
36 and security; providing for the enforcement by
37 bondholders of any pledge relating to the bonds issued
38 by the department; providing for the extent of the
39 powers authorized by the act; providing an effective
40 date.
41
42 Be It Enacted by the Legislature of the State of Florida:
43
44 Section 1. Short title.—Sections 1-14 of this act may be
45 cited as the “Seminole County Expressway Authority Law.”
46 Section 2. Definitions.—As used in sections 1-14 of this
47 act, the term:
48 (1) “Agency of the state” means the state and any
49 department of, or corporation, agency, or instrumentality
50 created, designated, or established by, the state.
51 (2) “Authority” means the Seminole County Expressway
52 Authority.
53 (3) “Bond” means a note, bond, refunding bond, or other
54 evidence of indebtedness or obligation, in temporary or
55 definitive form, which the authority issues pursuant to this
56 part.
57 (4) “County” means Seminole County.
58 (5) “Department” means the Department of Transportation
59 existing under chapters 334-339, Florida Statutes.
60 (6) “Expressway” means the same as limited access
61 expressway.
62 (7) “Federal agency” means the United States, the President
63 of the United States, and any department of, or corporation,
64 agency, or instrumentality created, designated, or established
65 by, the United States.
66 (8) “Gasoline tax funds of Seminole County” mean all of the
67 80 percent surplus gasoline tax funds accruing in each year to
68 the Department of Transportation for use in Seminole County
69 under the provisions of s. 9, Article XII of the State
70 Constitution, or all constitutional gas funds as may otherwise
71 be provided by the State Constitution or by statute for use in
72 Seminole County, after deduction of any amount of such gasoline
73 tax funds pledged by the Department of Transportation or the
74 county for outstanding obligations.
75 (9) “Lease-purchase agreement” means an agreement that the
76 authority may enter into with the Department of Transportation
77 pursuant to this part.
78 (10) “Limited access expressway” means a street or highway
79 especially designed for through traffic and over, from, or to
80 which no person has the right of easement, use, or access except
81 in accordance with the rules and regulations adopted by the
82 authority for the use of such facility. The street or highway
83 may be a parkway from which trucks, buses, and other commercial
84 vehicles are excluded, or it may be a freeway open to use by all
85 customary forms of street and highway traffic.
86 (11) “Members” mean the governing body of the authority,
87 and the term “member” means one of the individuals constituting
88 the governing body.
89 (12) “Seminole County Expressway System” or “system” means
90 any expressway and appurtenant facilities thereto in Seminole
91 County, including, but not limited to, all approaches, roads,
92 bridges, and avenues of access for the expressway.
93 (13) “State Board of Administration” means the body
94 corporate existing under s. 9, Article XII of the State
95 Constitution or any successor thereto.
96 Section 3. Seminole County Expressway Authority.—
97 (1) There is created a body politic and corporate, an
98 agency of the state, to be known as the “Seminole County
99 Expressway Authority” and referred to as “authority.”
100 (2) The authority has exclusive right to exercise all the
101 powers under sections 1-14 of this act, and no other entity,
102 body, or authority within or without Seminole County may
103 directly or indirectly exercise jurisdiction, control,
104 authority, or power in any manner relating to any expressway
105 system within Seminole County without the express consent of the
106 authority or as otherwise provided in sections 1-14 of this act.
107 (3) The governing body of the authority consists of seven
108 members. Five members must be members of the Board of County
109 Commissioners of Seminole County, and the term of each member is
110 concomitant with his or her term as a county commissioner. Two
111 members shall be appointed by the board of county commissioners
112 from among the duly elected municipal officers within the
113 county, and the municipal members serve 2-year terms unless
114 reappointed. Each 2-year term runs from the date of appointment
115 and automatically terminates if the member ceases to be a duly
116 elected municipal officer. The board of county commissioners
117 shall fill a municipal membership vacancy within 45 days after
118 the occurrence of the vacancy, and the board must appoint an
119 individual who is jointly recommended to the board of county
120 commissioners by two-thirds of the municipalities in the county
121 within 30 days after the vacancy.
122 (4) The authority shall elect one of its members as chair
123 of the authority. The authority shall elect a secretary and a
124 treasurer, who need not be members of the authority. The chair,
125 secretary, and treasurer hold the office at the will of the
126 authority. Four members of the authority constitute a quorum,
127 and the affirmative vote of three members is necessary for any
128 action taken by the authority. A vacancy in the authority does
129 not impair the right of the quorum to exercise the rights and
130 perform the duties of the authority.
131 (5) Each appointed member of the authority shall enter upon
132 his or her duties upon the effective date of his or her
133 appointment, or as soon thereafter as practicable.
134 (6) The authority may employ an executive secretary, an
135 executive director, and its own counsel and legal staff,
136 technical experts, engineers, and other employees, permanent or
137 temporary, as it may require; determine the qualifications and
138 fix the compensation of the persons, firms, or corporations; and
139 employ a fiscal agent. However, the authority shall solicit at
140 least three sealed proposals for the performance of any services
141 as the fiscal agent. The authority may delegate to one or more
142 of its agents or employees any of its powers as it deems
143 necessary to carry out the purposes of sections 1-14 of this
144 act, subject to the supervision and control of the authority.
145 (7) The authority shall reimburse its members for travel
146 and other necessary expenses incurred in connection with the
147 business of the authority as provided in s. 112.061, Florida
148 Statutes, but the members may not draw salaries or other
149 compensation.
150 Section 4. Powers and duties.—
151 (1)(a) The authority may acquire, hold, construct, improve,
152 maintain, operate, own, and lease, in the capacity of lessor,
153 the Seminole County Expressway System.
154 (b) The authority, in the construction of the Seminole
155 County Expressway System, may construct any extension, addition,
156 or improvement to the system or appurtenant facilities,
157 including all necessary approaches, roads, bridges, and avenues
158 of access, with any change, modification, or revision of the
159 project as deemed necessary.
160 (2) The authority may exercise all powers necessary,
161 appurtenant, convenient, or incidental to the implementation of
162 sections 1-14 of this act, including, but not limited to, the
163 following:
164 (a) To sue and be sued, implead and be impleaded, and
165 complain and defend in all courts;
166 (b) To adopt, use, and alter at will a corporate seal;
167 (c) To acquire, purchase, hold, lease as lessee, and use
168 any franchise or property, real, personal, or mixed, tangible or
169 intangible, or any interest necessary to implement the purposes
170 of sections 1-14 of this act; and to sell, lease as lessor,
171 transfer, and dispose of, at any time, any property or interest
172 acquired by the authority;
173 (d) To enter into and make leases for terms not exceeding
174 40 years, as lessee or lessor, and to implement the right to
175 lease as provided in sections 1-14 of this act;
176 (e) To enter into and make lease-purchase agreements with
177 the department for terms not exceeding 40 years or until any
178 bond secured by a pledge of rental, and any refund, are fully
179 paid, whichever is longer;
180 (f) To fix, alter, charge, establish, and collect rates,
181 fees, rentals, and other charges for the services and facilities
182 of the Seminole County Expressway System, which rates, fees,
183 rentals, and other charges are sufficient to comply with any
184 covenant made with the holders of any bonds issued pursuant to
185 sections 1-14 of this act; however, the authority may assign or
186 delegate to the department any of its rights and powers;
187 (g)1. To borrow money as provided by the State Bond Act.
188 2. To reimburse Seminole County for any sums expended from
189 the gasoline tax funds of Seminole County and any other revenues
190 provided to the authority by Seminole County and used for the
191 payment of the obligations. If the authority deems it
192 practicable, the authority may repay disbursed revenues from
193 Seminole County or gasoline tax funds, together with interest at
194 the highest rate applicable, to any obligations of the authority
195 for which funds or revenues were used to pay debt service.
196 3. To hire and retain independent certified public
197 accountants and auditors to audit the books and records of the
198 authority and the department with respect to the Seminole County
199 Expressway System or any part thereof, so long as any bonds of
200 the authority are outstanding;
201 (h) To make contracts and to execute all instruments
202 necessary to conduct its business;
203 (i) Without limitation of the foregoing, to borrow money
204 and accept grants from, and to enter into contracts, leases, or
205 other transactions with, any federal agency, the state, any
206 agency of the state, Seminole County, or any other public body
207 of the state;
208 (j) To have the power of eminent domain, including the
209 procedural powers granted under chapters 73 and 74, Florida
210 Statutes;
211 (k) To pledge, hypothecate, or otherwise encumber all parts
212 of the revenues, rates, fees, rentals, or other charges or
213 receipts of the authority, including all or any portion of the
214 gasoline tax funds of Seminole County or other revenues received
215 by the authority pursuant to the terms of any lease-purchase
216 agreement between the authority and the department or any other
217 agreement between the authority and Seminole County, as security
218 for any of the obligations of the authority;
219 (l) To do all acts necessary for the conduct of its
220 business and the general welfare of the authority in order to
221 implement the powers granted to it by sections 1-14 of this act
222 or any other law;
223 (m) To employ fiscal agents as provided by section 3 of
224 this act. The State Board of Administration may, upon request of
225 the authority, act as fiscal agent for the authority in the
226 issuance of any bonds that may be issued pursuant to section 5
227 of this act. The State Board of Administration may, upon request
228 of the authority, take over the management, control,
229 administration, custody, and payment of any debt service or fund
230 or asset available for any bond issued pursuant to section 5 of
231 this act. The authority may enter into a deed of trust, an
232 indenture, a resolution, or another agreement with its fiscal
233 agent, a financial institution, an insurance company, or a bank
234 or trust company within or without the state, as security for
235 the bonds, and may, under the agreement, sign and pledge any of
236 the revenues, rates, fees, rentals, or other charges or receipts
237 of the authority, including any portion of the gasoline tax
238 funds of Seminole County or other revenues received by the
239 authority pursuant to the terms of a lease-purchase agreement
240 between the authority and the department or any other agreement
241 between the authority and Seminole County. The deed of trust,
242 indenture, resolution, or other agreement may contain provisions
243 as are customary in such instruments, or, if the authority
244 authorizes, may include, without limitation, provisions as to:
245 1. The completion, improvement, operation, extension,
246 maintenance, and repair of the Seminole County Expressway
247 System; the lease of, or lease-purchase agreement for, the
248 system; and the duties of the authority and others, including
249 the department.
250 2. The availability and application of funds and the
251 safeguarding of funds on hand or on deposit.
252 3. The rights and remedies of the trustee and the holders
253 of the bonds and any institution providing liquidity or credit
254 support for the bonds.
255 4. The terms and provisions of the bonds or the resolutions
256 authorizing the issuance of the bonds.
257 5. The terms and conditions pursuant to which the authority or
258 any trustee for the bonds is entitled to receive any revenues
259 from Seminole County to pay the principal of or interest on the
260 bonds; and
261 (n) To assume and resume all duties and responsibilities of
262 the prior Seminole County Expressway Authority for any contract
263 or agreement that existed on June 30, 2011, and to which the
264 prior Seminole County Expressway Authority was a party.
265 (3) The authority may not pledge the credit or taxing power
266 of the state or any political subdivision or agency of the
267 state, including Seminole County. The obligations of the
268 authority are not deemed obligations of the state, or any
269 political subdivision or agency of the state. The state, or any
270 political subdivision or agency of the state, except the
271 authority, is not liable for the payment of the principal of or
272 interest on the obligations. However, the gasoline tax funds of
273 Seminole County or other revenues may be pledged for the payment
274 of the principal of or interest on the obligations pursuant to
275 the terms of a lease-purchase agreement between the authority
276 and the department or any other agreement between the authority
277 and Seminole County.
278 (4) The consent of a municipality is not necessary for any
279 project of the authority, notwithstanding any provision in
280 sections 1-14 of this act or any other law to the contrary or
281 whether the project lies within the boundaries of any
282 municipality, in whole or in part. However, an official or a
283 resident of a municipality in which a project of the authority
284 is located, in whole or in part, must have reasonable
285 opportunity to discuss the project and advise the authority of
286 his or her position at a duly advertised public hearing. Notice
287 of the public hearing must be advertised in a newspaper
288 published in Seminole County and circulated in the affected
289 municipalities. The notice must be published once at least 2
290 weeks before the public hearing and must contain the time and
291 place of the public hearing and a short description of the
292 subject to be discussed. The public hearing may be adjourned
293 from time to time and set for a time and place certain without
294 necessity of further advertisement. In routing and locating an
295 expressway or its interchange in or through a municipality, the
296 authority must consider the effect of such location on the
297 municipality as a whole and must not unreasonably split or
298 divide an area of the municipality or separate one area of the
299 municipality from another.
300 Section 5. Bonds.—Bonds may be issued on behalf of the
301 authority as provided by the State Bond Act.
302 Section 6. Lease-purchase agreement.—
303 (1) The authority may enter into a lease-purchase agreement
304 with the department relating to and covering the Seminole County
305 Expressway System.
306 (2) The lease-purchase agreement shall provide for the
307 leasing of the Seminole County Expressway System by the
308 authority, as lessor, to the department, as lessee; shall
309 prescribe the terms of the agreement and the rentals to be paid;
310 and shall provide that, upon the completion of the faithful
311 performance of the agreement and the termination of such lease
312 purchase agreement, the authority shall transfer to the state
313 title in fee simple absolute to the Seminole County Expressway
314 System and the authority shall deliver to the department deeds
315 and conveyances necessary to vest title in fee simple absolute
316 in the state.
317 (3) The lease-purchase agreement may include other
318 provisions, agreements, and covenants as the authority and the
319 department deem necessary, including, but not limited to,
320 provisions as to the bonds to be issued pursuant to this part;
321 the completion, extension, improvement, operation, and
322 maintenance of the Seminole County Expressway System and the
323 expenses and the cost of operation of the authority and the
324 system; the charging and collection of tolls, rates, fees, and
325 other charges for the use of the services and facilities; the
326 application of federal or state grants or aid made or given to
327 assist the authority in the completion, extension, improvement,
328 operation, and maintenance of the Seminole County Expressway
329 System, which the authority may accept and apply to these
330 purposes; the enforcement of payment and collection of rentals;
331 and any other terms, provisions, or covenants necessary,
332 incidental, or appurtenant to the making of, and full
333 performance under, the lease-purchase agreement.
334 (4) The department, as lessee under such lease-purchase
335 agreement, may pay, as rentals under the agreement, any rates,
336 fees, charges, funds, moneys, receipts, or income accruing to
337 the department from the operation of the Seminole County
338 Expressway System and the gasoline tax funds or other revenues
339 of Seminole County used to pay the principal of or interest on
340 any obligations issued to finance any portion of the system and
341 may also pay, as rentals, any appropriations received by the
342 department pursuant to state law. The lease-purchase agreement
343 or any holder of bonds issued pursuant to section 5 of this act
344 may not require the making or continuance of any appropriations.
345 (5) Gasoline tax funds or other revenues of Seminole County
346 may not be pledged as rentals under a lease-purchase agreement
347 or another agreement without the consent of Seminole County,
348 evidenced by a resolution adopted by the board of county
349 commissioners of the county at a public hearing held pursuant to
350 due notice thereof published at least once a week for 3
351 consecutive weeks before the hearing in a newspaper of general
352 circulation in the county. The resolution must provide that, for
353 bonds issued on behalf of the authority, any excess of the
354 pledged gasoline tax funds and other revenues of Seminole County
355 which is not required for debt service or for reserves for debt
356 service shall be distributed to Seminole County as provided by
357 law. Before making any application for the pledge of gasoline
358 tax funds, the authority shall present the plan of its proposed
359 project to the Seminole County Planning and Zoning Commission
360 for comments and recommendations. The department may covenant in
361 a lease-purchase agreement that it will pay all or part of the
362 cost of the system, and any part of the cost of completing the
363 system to the extent that the proceeds of bonds issued for the
364 project are insufficient, from sources other than the revenues
365 derived from the operation of the system and the gasoline tax
366 funds or any other revenue of Seminole County pledged for such
367 purpose. The department may agree to make payments from any
368 moneys available to Seminole County, in connection with the
369 construction or completion of the system, as deemed by the
370 department to be fair and proper under any covenant that is
371 entered into.
372 (6) The system is a part of the state road system, and the
373 department may, upon the request of the authority, expend money
374 out of any funds available for the purpose and use its
375 engineering and other powers deemed necessary by the department
376 for the operation of the authority and for traffic surveys,
377 borings, surveys, preparation of plans and specifications,
378 estimates of cost, and other preliminary engineering and other
379 studies. However, the aggregate amount of moneys expended for
380 this purpose by the department may not exceed the sum of
381 $500,000.
382 Section 7. Agent for construction.—The authority may
383 appoint the department as its agent for the construction of and
384 improvements and extensions to the Seminole County Expressway
385 System and for the completion of the system. If the department
386 is appointed, the authority shall provide the department with
387 complete copies of all documents, agreements, resolutions,
388 contracts, and instruments relating to the system; shall request
389 the department to do the construction work, including the
390 planning, surveying, and actual construction of the completion,
391 extension, and improvement to the Seminole County Expressway
392 System; and shall transfer the necessary funds for the
393 construction to the credit of an account of the department in
394 the State Treasury. The department shall proceed with the
395 construction and shall use the funds that are authorized for the
396 construction of roads and bridges.
397 Section 8. Acquisition of lands and property.—
398 (1) The Seminole County Expressway Authority may acquire
399 private or public property and property rights, including rights
400 of access, air, view, and light, by gift, devise, purchase, or
401 condemnation by an eminent domain proceeding, as the authority
402 deems necessary to implement sections 1-14 of this act. The
403 property that the authority may acquire includes, but is not
404 limited to, any land:
405 (a) Reasonably necessary for securing applicable permits,
406 areas necessary for management of access, borrow pits, drainage
407 ditches, water retention areas, rest areas, replacement access
408 for landowners whose access is impaired due to the construction
409 of a facility, and replacement rights-of-way for relocated rail
410 and utility facilities;
411 (b) For existing, proposed, or anticipated transportation
412 facilities on the Seminole County Expressway System or in a
413 transportation corridor designated by the authority; or
414 (c) For the purposes of screening, relocation, removal, or
415 disposal of junkyards and scrap metal processing facilities.
416
417 The authority may condemn any material and property necessary
418 for these purposes.
419 (2) The authority may exercise the right of eminent domain
420 in the manner provided by law.
421 (3) If the authority acquires property for a transportation
422 facility or in a transportation corridor, the authority is not
423 subject to any liability imposed by chapter 376 or chapter 403,
424 Florida Statutes, for preexisting soil or groundwater
425 contamination due solely to its ownership. This section does not
426 affect the rights or liabilities of any past or future owners of
427 the acquired property, nor does it affect the liability of any
428 governmental entity for the results of its actions that create
429 or exacerbate a pollution source. The authority and the
430 Department of Environmental Protection may enter into an
431 interagency agreement for the performance, funding, and
432 reimbursement of the investigative and remedial acts necessary
433 for property acquired by the authority.
434 Section 9. Cooperation with other units, boards, agencies,
435 and individuals.—Any county, municipality, drainage district,
436 road or bridge district, school district, or any other political
437 subdivision, board, commission, or individual in or of the state
438 may make and enter into a contract, lease, conveyance, or other
439 agreement consistent with sections 1-14 of this act with the
440 authority. The authority may make and enter into a contract,
441 lease, conveyance, or other agreement with any political
442 subdivision, agency, or instrumentality of the state, any
443 federal agency, any corporation, or any individual to implement
444 sections 1-14 of this act.
445 Section 10. Covenant of the state.—The state pledges to,
446 and agrees with, any person, firm, corporation, or federal or
447 state agency subscribing to or acquiring the bonds issued by the
448 authority pursuant to section 5 of this act that the state will
449 not limit or alter the rights vested in the authority and the
450 department until all bonds at any time issued, together with the
451 interest on the bonds, are fully paid and discharged. The state
452 pledges to, and agrees with, the United States that, when any
453 federal agency constructs or contributes any funds for the
454 completion, extension, or improvement of the Seminole County
455 Expressway System or any part or portion thereof, the state will
456 not alter or limit the rights and powers of the authority and
457 the department in any manner that would be inconsistent with the
458 continued maintenance and operation of the Seminole County
459 Expressway System or the completion, extension, or improvement
460 of the system, or that is inconsistent with the due performance
461 of the agreement between the authority and the federal agency.
462 The authority and the department have and may exercise all
463 powers granted in sections 1-14 of this act necessary to
464 implement the purposes of sections 1-14 of this act and the
465 purposes of the United States in the completion, extension, or
466 improvement of the Seminole County Expressway System or any part
467 or portion of the system.
468 Section 11. Exemption from taxation.—The authority created
469 pursuant to sections 1-14 of this act is for the benefit of the
470 people of the state, for the increase of their commerce and
471 prosperity, and for the improvement of their health and living
472 conditions. Because the authority is performing essential
473 governmental functions in carrying out the purposes of sections
474 1-14 of this act, the authority is exempt from taxes or
475 assessments upon any property acquired or used by it for such
476 purposes, or upon any revenues, rates, fees, rentals, receipts,
477 income, or charges received by it. The bonds issued by the
478 authority, their transfer, and the income from the bonds,
479 including any profits made on the sale of the bonds, are at all
480 times free from taxation of any kind by the state or any
481 political subdivision, taxing agency, or instrumentality of the
482 state. However, the exemption granted by this section is not
483 applicable to any tax imposed under chapter 220, Florida
484 Statutes, on interest, income, or profits on debt obligations
485 owned by corporations. When a property of the authority is
486 leased, it is exempt from ad valorem taxes if the use by the
487 lessee qualifies the property for exemption under s. 196.199,
488 Florida Statutes.
489 Section 12. Eligibility for investments and security.—Any
490 bonds or other obligations issued pursuant to sections 1-14 of
491 this act are legal investments for banks, savings banks,
492 trustees, executors, administrators, and all other fiduciaries,
493 and for all state, municipal, and other public funds, and are
494 securities eligible for deposit as security for all state,
495 municipal, or other public funds, notwithstanding the provisions
496 of any law.
497 Section 13. Pledges enforceable by bondholders.—A pledge by
498 the department of rates, fees, revenues, gasoline tax funds of
499 Seminole County, or other funds as rentals to the authority, or
500 any covenant or agreement relative to the pledge, is enforceable
501 in any court of competent jurisdiction against the authority or
502 directly against the department by any holder of bonds issued by
503 the authority.
504 Section 14. Complete and additional authority.—
505 (1) The powers conferred by sections 1-14 of this act are
506 in addition to the existing powers of the authority and the
507 department, and sections 1-14 of this act do not repeal any of
508 the provisions of any other law, general, special, or local. The
509 extension and improvement of the Seminole County Expressway
510 System, and the issuance of bonds pursuant to section 5 of this
511 act to finance all or part of the cost of the system, may be
512 accomplished upon compliance with the provisions of sections 1
513 14 of this act without regard to or necessity for compliance
514 with the provisions, limitations, or restrictions contained in
515 any other general, special, or local law. Approval of any bonds
516 issued under this part by qualified electors or qualified
517 electors who are freeholders in the state, in Seminole County or
518 in any other political subdivision of the state, is not required
519 for the issuance of bonds pursuant to section 5 of this act.
520 (2) Sections 1-14 of this act do not repeal, rescind, or
521 modify any other law relating to the State Board of
522 Administration, the Department of Transportation, or the
523 Division of Bond Finance of the State Board of Administration,
524 but supersede any law that is inconsistent with the provisions
525 of sections 1-14 of this act.
526 Section 15. This act shall take effect July 1, 2012.