The Florida Senate

348.0001  Short title.

348.0002  Definitions.

348.0003  Expressway authority; formation; membership.

348.0004  Purposes and powers.

348.0005  Bonds.

348.0006  Lease-purchase agreement.

348.0007  Department may be appointed agent of division for construction.

348.0008  Acquisition of lands and property.

348.0009  Cooperation with other units, boards, agencies, and individuals.

348.0010  Covenant of the state.

348.0011  Exemption from taxation.

348.0012  Exemptions from applicability.

348.0001  Short title.--Sections 20-31 of chapter 90-136, Laws of Florida, may be cited as the "Florida Expressway Authority Act."

History.--s. 22, ch. 90-136.

348.0002  Definitions.--As used in the Florida Expressway Authority Act, the term:

(1)  "Agency of the state" means and includes the state and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the state.

(2)  "Authority" means an expressway authority established pursuant to the Florida Expressway Authority Act which is a body politic and corporate and a public instrumentality. For purposes of the provisions of this part authorizing an authority to issue bonds directly pursuant to this part, "authority" shall mean an authority established within a county as defined in s. 125.011(1).

(3)  "Bonds" means and includes the notes, bonds, refunding bonds, or other evidences of indebtedness or obligations, in either temporary or definitive form, which an authority issues pursuant to the Florida Expressway Authority Act.

(4)  "County gasoline tax funds" means all the 80-percent surplus gasoline tax funds accruing in each year to the department for use within the geographic boundaries of an expressway authority established pursuant to the Florida Expressway Authority Act under the provisions of s. 9, Art. XII of the State Constitution, after deduction only of any amounts of such gasoline tax funds heretofore pledged by the department or a county for outstanding obligations.

(5)  "Department" means the Department of Transportation.

(6)  "Division" means the Division of Bond Finance of the State Board of Administration.

(7)  "Express written consent" means prior express written consent given in the form of a resolution adopted by a board of county commissioners.

(8)  "Expressway" means a street or highway especially designed for through traffic, and over, from, or to which owners or occupants of abutting land or other persons have no right or easement or only a limited right or easement of access, light, air, or view by reason of the fact that their property abuts upon such limited access facility or for any other reason. Such highways or streets may be facilities from which trucks, buses, and other commercial vehicles are excluded; or they may be facilities open to use by all customary forms of street and highway traffic.

(9)  "Expressway system" means any and all expressways within the geographic boundaries of an expressway authority established pursuant to the Florida Expressway Authority Act and appurtenant facilities thereto, including, but not limited to, all approaches, roads, bridges, and avenues of access for such expressway. In any county as defined in s. 125.011(1), for purposes of this part, an expressway system includes a public transportation facility.

(10)  "Federal agency" means and includes the United States, the President of the United States, and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the United States.

(11)  "Lease-purchase agreement" means a lease-purchase agreement which an authority may enter with the department pursuant to the Florida Expressway Authority Act.

(12)  "Public transportation facility" means real and personal property, structures, improvements, buildings, personnel, equipment, plant, vehicle parking or other facilities, rights-of-way, or any combination thereof used or useful for the purposes of transporting passengers by means of a street railway, elevated railway or guideway, subway, motor vehicle, motor bus, or any bus or other means of conveyance operating as a common carrier by a county, as defined in s. 125.011(1).

(13)  "Surplus revenues" means revenues in any county as defined in s. 125.011(1) derived from rates, fees, rentals, tolls, and other charges for the services and facilities of an expressway system as may exist at the end of a fiscal year after payment of all annually required operating and maintenance expenses for the fiscal year and all debt service payable in the fiscal year on bonds issued or other debts incurred for any purpose in connection with an expressway system, including debt incurred to finance the construction, extension, repair, or maintenance of an expressway system.

History.--s. 23, ch. 90-136; s. 287, ch. 92-279; s. 55, ch. 92-326; s. 54, ch. 94-237.

348.0003  Expressway authority; formation; membership.--

(1)  Any county, or two or more contiguous counties located within a single district of the department, may, by resolution adopted by the board of county commissioners, form an expressway authority, which shall be an agency of the state, pursuant to the Florida Expressway Authority Act.

(2)  The governing body of an authority shall consist of not fewer than five nor more than nine voting members. The district secretary of the affected department district shall serve as a nonvoting member of the governing body of each authority located within the district. Each member of the governing body must at all times during his or her term of office be a permanent resident of the county which he or she is appointed to represent.

(a)  Two members of the authority shall be appointed for terms of 4 years by the Governor, subject to confirmation by the Senate. Such persons may not hold elective office during their terms of office.

(b)  For a single-county authority, the remaining members shall be appointed by the board of county commissioners for terms of 3 years.

(c)  For a multicounty authority, the remaining members shall be apportioned, based on the population of such counties, among the counties within the authority. Each such member shall be appointed by the applicable board of county commissioners for a term of 3 years.

(d)  Notwithstanding any provision to the contrary in this subsection, in any county as defined in s. 125.011(1), the governing body of an authority shall consist of up to 13 members, and the following provisions of this paragraph shall apply specifically to such authority. Except for the district secretary of the department, the members must be residents of the county. Seven voting members shall be appointed by the governing body of the county. At the discretion of the governing body of the county, up to two of the members appointed by the governing body of the county may be elected officials residing in the county. Five voting members of the authority shall be appointed by the Governor. One member shall be the district secretary of the department serving in the district that contains such county. This member shall be an ex officio voting member of the authority. If the governing board of an authority includes any member originally appointed by the governing body of the county as a nonvoting member, when the term of such member expires, that member shall be replaced by a member appointed by the Governor until the governing body of the authority is composed of seven members appointed by the governing body of the county and five members appointed by the Governor. The qualifications, terms of office, and obligations and rights of members of the authority shall be determined by resolution or ordinance of the governing body of the county in a manner that is consistent with subsections (3) and (4).

(3)(a)  The governing body of each authority shall elect one of its members as its chair and shall elect a secretary and a treasurer who need not be members of the authority. The chair, secretary, and treasurer shall hold their offices at the will of the authority. A simple majority of the governing body of the authority constitutes a quorum, and the vote of a majority of those members present is necessary for the governing body to take any action. A vacancy on an authority shall not impair the right of a quorum of the authority to exercise all of the rights and perform all of the duties of the authority.

(b)  Upon the effective date of his or her appointment, or as soon thereafter as practicable, each appointed member of an authority shall enter upon his or her duties.

(4)(a)  An authority may employ an executive secretary, an executive director, its own counsel and legal staff, technical experts, and such engineers and employees, permanent or temporary, as it may require and shall determine the qualifications and fix the compensation of such persons, firms, or corporations. An authority may employ a fiscal agent or agents; however, the authority must solicit sealed proposals from at least three persons, firms, or corporations for the performance of any services as fiscal agents. An authority may delegate to one or more of its agents or employees such of its power as it deems necessary to carry out the purposes of the Florida Expressway Authority Act, subject always to the supervision and control of the authority. Members of an authority may be removed from office by the Governor for misconduct, malfeasance, misfeasance, or nonfeasance in office.

(b)  Members of an authority are entitled to receive from the authority their travel and other necessary expenses incurred in connection with the business of the authority as provided in s. 112.061, but they may not draw salaries or other compensation.

(c)  Members of an authority shall be required to comply with the applicable financial disclosure requirements of ss. 112.3145, 112.3148, and 112.3149.

History.--s. 24, ch. 90-136; s. 17, ch. 90-502; s. 55, ch. 94-237; s. 977, ch. 95-148; s. 26, ch. 97-280; s. 89, ch. 2002-20.

348.0004  Purposes and powers.--

(1)(a)  An authority created and established pursuant to the Florida Expressway Authority Act may acquire, hold, construct, improve, maintain, operate, own, and lease an expressway system.

(b)  Each authority, in the construction of an expressway system, shall construct expressways. Construction of an expressway system may be completed in segments, phases, or stages, in a manner which will permit the expansion of these segments, phases, or stages to the desired expressway configuration. Each authority, in the construction of an expressway system, may construct any extensions of, additions to, or improvements to, the expressway system or appurtenant facilities, including all necessary approaches, roads, bridges, and avenues of access, with such changes, modifications, or revisions of the project that are deemed desirable and proper. An authority may only add additional expressways to an expressway system, under the terms and conditions set forth in the Florida Expressway Authority Act, with the prior express written consent of the board of county commissioners of each county located within the geographic boundaries of the authority, and only if such additional expressways lack adequate committed funding for implementation, are financially feasible, and are compatible with the existing plans, projects, and programs of the authority.

(2)  Each authority may exercise all powers necessary, appurtenant, convenient, or incidental to the carrying out of its purposes, including, but not limited to, the following rights and powers:

(a)  To sue and be sued, implead and be impleaded, and complain and defend in all courts.

(b)  To adopt, use, and alter at will a corporate seal.

(c)  To acquire, purchase, hold, lease as lessee, and use any franchise or property, real, personal, or mixed, tangible or intangible, or any interest therein necessary or desirable for carrying out the purposes of the authority and to sell, lease as lessor, transfer, and dispose of any property or interest therein at any time acquired by it.

(d)  To enter into and make leases, either as lessee or as lessor, in order to carry out the right to lease as set forth in the Florida Expressway Authority Act.

(e)  To enter into and make lease-purchase agreements with the department until any bonds secured by a pledge of rentals thereunder, and any refundings thereof, are fully paid as to both principal and interest.

(f)  To fix, alter, charge, establish, and collect tolls, rates, fees, rentals, and other charges for the services and facilities system, which tolls, rates, fees, rentals, and other charges must always be sufficient to comply with any covenants made with the holders of any bonds issued pursuant to the Florida Expressway Authority Act. However, such right and power may be assigned or delegated by the authority to the department. Notwithstanding s. 338.165 or any other provision of law to the contrary, in any county as defined in s. 125.011(1), to the extent surplus revenues exist, they may be used for purposes enumerated in subsection (7), provided the expenditures are consistent with the metropolitan planning organization's adopted long-range plan. Notwithstanding any other provision of law to the contrary, but subject to any contractual requirements contained in documents securing any outstanding indebtedness payable from tolls, in any county as defined in s. 125.011(1), the board of county commissioners may, by ordinance adopted on or before September 30, 1999, alter or abolish existing tolls and currently approved increases thereto if the board provides a local source of funding to the county expressway system for transportation in an amount sufficient to replace revenues necessary to meet bond obligations secured by such tolls and increases.

(g)  In any county as defined in s. 125.011(1), to borrow money, make and issue negotiable notes, bonds, refund bonds and other evidence of indebtedness, either in temporary or definitive form, of the authority, which bonds or other evidence of indebtedness may be issued pursuant to the State Bond Act, or in the alternative, pursuant to the provisions of s. 348.0005(2), to finance an expressway system within the geographic boundaries of the authority, and to provide for the security of the bonds or other evidence of indebtedness and the rights and remedies of the holders of the bonds or other evidence of indebtedness. Any bonds or other evidence of indebtedness pledging the full faith and credit of the state shall only be issued pursuant to the State Bond Act.

1.  An authority shall reimburse the county in which it exists for any sums expended from any county gasoline tax funds used for payment of such obligations. Any county gasoline tax funds so disbursed shall be repaid in accordance with the terms of any lease-purchase or interlocal agreement with any county or the department together with interest, at the rate agreed to in such agreement. In no event shall any county gasoline tax funds be more than a secondary pledge of revenues for repayment of any obligations issued pursuant to this part.

2.  In any county as defined in s. 125.011(1), an authority may refund any bonds previously issued, to the extent allowable by federal tax laws, to finance or refinance an expressway system regardless of whether the bonds being refunded were issued by such authority, an agency of the state, or a county.

(h)  To enter contracts and to execute all instruments necessary or convenient for the carrying on of its business.

(i)  Without limitation of the foregoing, to borrow money and accept grants from, and to enter into contracts, leases, or other transactions with, any federal agency, the state, any agency of the state, county, or any other public body of the state.

(j)  To have the power of eminent domain, including the procedural powers granted under chapters 73 and 74.

(k)  To pledge, hypothecate, or otherwise encumber all or any part of the revenues, tolls, rates, fees, rentals, or other charges or receipts of the authority, including all or any portion of county gasoline tax funds received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department, as security for all or any of the obligations of the authority.

(l)  To do all acts and things necessary or convenient for the conduct of its business and the general welfare of the authority in order to carry out the powers granted to it by law.

(m)  An expressway authority in any county as defined in s. 125.011(1) may consider any unsolicited proposals from private entities and all factors it deems important in evaluating such proposals. Such an expressway authority shall adopt rules or policies in compliance with s. 334.30 for the receipt, evaluation, and consideration of such proposals in order to enter into agreements for the planning design, engineering, construction, operation, ownership, or financing of additional expressways in that county. Such rules must require substantially similar technical information as is required by rule 14-107.0011(3)(a)-(e), Florida Administrative Code. In accepting a proposal and entering into such an agreement, the expressway authority and the private entity shall for all purposes be deemed to have complied with chapters 255 and 287. Similar proposals shall be reviewed and acted on by the authority in the order in which they were received. An additional expressway may not be constructed under this section without the prior express written consent of the board of county commissioners of each county located within the geographical boundaries of the authority. The powers granted by this section are in addition to all other powers of the authority granted by this chapter.

(3)  Any provision of law to the contrary notwithstanding, the consent of any municipality is not necessary for any project of an existing or new authority, whether or not the project lies in whole or in part within the boundaries of the municipality, if the project is consistent with the locally adopted comprehensive plan. However, if a project is inconsistent with the affected municipal comprehensive plan, the project may not proceed without a hearing pursuant to ss. 120.569 and 120.57, at which it is determined that the project is consistent with the adopted metropolitan planning organization transportation improvement plan, if any, and the applicable strategic regional plan, and at which regional interests are determined to clearly override the interests of the municipality.

(4)  The use or pledge of all or any portion of county gasoline tax funds may not be made without the prior express written consent of the board of county commissioners of each county located within the geographic boundaries of the authority.

(5)  Any authority formed pursuant to this act shall comply with all statutory requirements of general application which relate to the filing of any report or documentation required by law, including the requirements of ss. 189.4085, 189.415, 189.417, and 189.418.

(6)  Notwithstanding subsection (3) or any other provision of law to the contrary, in any county as defined in s. 125.011(1), no expressway authority shall undertake any construction that is not consistent with both the metropolitan planning organization's transportation improvement program and the county's comprehensive plan.

(7)  In any county as defined in s. 125.011(1), an expressway authority may finance or refinance the planning, design, acquisition, construction, extension, rehabilitation, equipping, preservation, maintenance, or improvement of a public transportation facility or transportation facilities owned or operated by such county, an intermodal facility or facilities, multimodal corridor or corridors, including, but not limited to, bicycle facilities or greenways that will improve transportation services within the county, or any programs or projects that will improve the levels of service on an expressway system, subject to approval of the governing body of such county after public hearing.

(8)  The governing body of the county may enter into an interlocal agreement with an authority pursuant to chapter 163, for the joint performance or performance by either governmental entity of any corporate function of the county or authority necessary or appropriate to enable the authority to fulfill the powers and purposes of this part and promote the efficient and effective transportation of persons and goods in such county.

History.--s. 25, ch. 90-136; s. 148, ch. 92-152; s. 56, ch. 94-237; s. 9, ch. 95-149; s. 88, ch. 96-410; s. 27, ch. 97-280; s. 55, ch. 99-385.

348.0005  Bonds.--

(1)  Bonds may be issued on behalf of an authority as provided by the State Bond Act.

(2)(a)  An authority in any county as defined in s. 125.011(1), may issue bonds pursuant to this part, which do not pledge the full faith and credit of the state in such principal amount as, in the opinion of the authority, is necessary to provide sufficient moneys for achieving its corporate purposes.

(b)  The bonds of an authority in any county as defined in s. 125.011(1), issued pursuant to the provisions of this part, whether on original issuance or refunding, must be authorized by resolution of the authority, after approval of the issuance of the bonds at a public hearing, and may be either term or serial bonds, shall bear such date or dates, mature at such time or times, bear interest at such rate or rates, be payable semiannually, be in such denominations, be in such form, either coupon or fully registered, shall carry such registration, exchangeability and interchangeability privileges, be payable in such medium of payment and at such place or places, be subject to such terms of redemption and be entitled to such priorities on the revenues, rates, fees, rentals, or other charges or receipts of the authority including any county gasoline tax funds received by an authority pursuant to the terms of any interlocal or lease-purchase agreement between an authority, the department, or a county, as such resolution or any resolution subsequent thereto may provide. The bonds must be executed by such officers as the authority determines under the requirements of s. 279.06.

(c)  Said bonds shall be sold by the authority at public sale by competitive bid. However, if the authority, after receipt of a written recommendation from a financial adviser, shall determine by official action after public hearing by a two-thirds vote of all voting members of the authority that a negotiated sale of the bonds is in the best interest of the authority, the authority may negotiate for sale of the bonds with the underwriter or underwriters designated by the authority and the county in which the authority exists. The authority shall provide specific findings in a resolution as to the reasons requiring the negotiated sale, which resolution shall incorporate and have attached thereto the written recommendation of the financial adviser required by this subsection.

(d)  Any such resolution or resolutions authorizing any bonds hereunder which do not pledge the full faith and credit of the state may contain provisions that are part of the contract with the holders of the bonds, as an authority determines proper. In addition, an authority may enter into trust indentures or other agreements with its fiscal agent, or with any bank or trust company within or without the state, as security for such bonds, and may, under the agreements, assign and pledge the revenues, rates, fees, rentals, tolls, or other charges or receipts of an authority, including any county gasoline tax funds received by an authority.

(e)  Any of the bonds issued pursuant to this part are negotiable instruments and have all the qualities and incidents of negotiable instruments under the law merchant and the negotiable instruments law of the state.

(f)  Notwithstanding any of the provisions of this part, in any county as defined in s. 125.011(1), each project, building, or facility which has been or will be financed by the issuance of bonds or other evidence of indebtedness and that does not pledge the full faith and credit of the state under this part and any refinancing thereof is approved for purposes of s. 11(f), Art. VII of the State Constitution.

History.--s. 26, ch. 90-136; s. 57, ch. 94-237; s. 138, ch. 99-13; s. 112, ch. 99-385; s. 57, ch. 2000-152.

348.0006  Lease-purchase agreement.--

(1)  In order to effectuate the purposes of the Florida Expressway Authority Act, an authority may enter into a lease-purchase agreement with the department relating to and covering an expressway system.

(2)  The lease-purchase agreement must provide for the leasing of the expressway system by the authority, as lessor, to the department, as lessee, and must prescribe the terms of such lease and the fees to be paid thereunder.

(3)  The lease-purchase agreement may include such other provisions, agreements, and covenants as the authority and the department deem advisable or required, including, but not limited to, provisions as to the bonds to be issued under and for the purposes of the Florida Expressway Authority Act; the completion, extension, improvement, operation, and maintenance of the expressway system and the expenses and cost of operation of the authority; the charging and collection of tolls, rates, fees, rentals, or other charges for the use of the services and facilities thereof; the application of federal or state grants or aid which may be made or given to assist the authority in the completion, extension, improvement, operation, and maintenance of the expressway system, which the authority is authorized to accept and apply to such purposes; the enforcement of payment and collection of tolls, rates, fees, and rentals; and any other terms, provisions, or covenants necessary, incidental, or appurtenant to the making of, and full performance under, such lease-purchase agreement.

(4)  Upon the faithful performance thereunder and the termination of such lease-purchase agreement, title in fee simple absolute shall be transferred in accordance with law by the authority to the state. At this point, the department, at its discretion, may provide that any toll, rate, fee, or rental collected may be continued.

(5)  The department, as lessee under such lease-purchase agreement, may pay, as rentals thereunder, any tolls, rates, fees, charges, funds, moneys, receipts, or income accruing to the department from the operation of the expressway system and from county gasoline tax funds and may also pay, as rentals, any appropriations received by the department pursuant to any act of the Legislature heretofore or hereafter enacted wherein the appropriations are expressly authorized to be used as rentals for the expressway system.

(6)  County gasoline tax funds may not be pledged as rentals under such lease-purchase agreement without the consent of each county located within the geographic boundaries of the authority, evidenced by a resolution duly adopted by the board of county commissioners of each such county at a public hearing held pursuant to due notice thereof published in a newspaper of general circulation in the county at least once a week for 3 consecutive weeks before the hearing. The resolution, among other things, must provide that any excess of the pledged gasoline tax funds which is not required for debt service, or reserves for such debt service, for any bonds issued by the authority be returned annually to the department for distribution to the county as provided by law.

(7)  The department may covenant in any lease-purchase agreement that it will pay all or any part of the cost of the operation or maintenance of an expressway system.

(8)  Each expressway system shall be a part of the State Highway System as defined in s. 334.03, and the department may, upon the request of an authority, expend, out of any funds available for the purpose, such moneys, and use such of its engineering and other forces as may be necessary and desirable in the judgment of the department, for the operation of the authority and for traffic surveys, borings, surveys, preparation of plans and specifications, estimates of cost, and other preliminary engineering and other studies.

History.--s. 27, ch. 90-136.

348.0007  Department may be appointed agent of division for construction.--The department may be appointed by the division as its agent for the purpose of constructing improvements and extensions to an expressway system and for the completion thereof. In such event, the division shall provide the department with complete copies of all documents, agreements, resolutions, contracts, and instruments relating thereto; shall request the department to do such construction work, including the planning, surveying, and actual construction of the completion, extensions, and improvements to the expressway system; and shall transfer to the credit of an account of the department in the State Treasury the necessary funds therefor. The department shall thereupon proceed with such construction and use the funds for such purpose in the same manner as it is now authorized to use the funds otherwise provided by law for its use in the construction of roads and bridges.

History.--s. 28, ch. 90-136.

348.0008  Acquisition of lands and property.--

(1)  For the purposes of the Florida Expressway Authority Act, an expressway authority may acquire such rights, title, or interest in private or public property and such property rights, including easements, rights of access, air, view, and light, by gift, devise, purchase, or condemnation by eminent domain proceedings, as the authority may deem necessary for any of the purposes of the Florida Expressway Authority Act, including, but not limited to, any lands reasonably necessary for securing applicable permits, areas necessary for management of access, borrow pits, drainage ditches, water retention areas, rest areas, replacement access for landowners whose access is impaired due to the construction of an expressway system, and replacement rights-of-way for relocated rail and utility facilities; for existing, proposed, or anticipated transportation facilities on the expressway system or in a transportation corridor designated by the authority; or for the purposes of screening, relocation, removal, or disposal of junkyards and scrap metal processing facilities. The authority may also condemn any material and property necessary for such purposes.

(2)  An authority and its authorized agents, contractors, and employees are authorized to enter upon any lands, waters, and premises, upon giving reasonable notice to the landowner, for the purpose of making surveys, soundings, drillings, appraisals, environmental assessments including phase I and phase II environmental surveys, archaeological assessments, and such other examinations as are necessary for the acquisition of private or public property and property rights, including rights of access, air, view, and light, by gift, devise, purchase, or condemnation by eminent domain proceedings or as are necessary for the authority to perform its duties and functions; and any such entry shall not be deemed a trespass or an entry that would constitute a taking in an eminent domain proceeding. An expressway authority shall make reimbursement for any actual damage to such lands, water, and premises as a result of such activities. Any entry authorized by this subsection shall be in compliance with the premises protections and landowner liability provisions contained in ss. 472.029 and 581.184.

(3)  The right of eminent domain conferred by the Florida Expressway Authority Act must be exercised by each authority in the manner provided by law.

(4)  When an authority acquires property for an expressway system or in a transportation corridor as defined in s. 334.03, it is not subject to any liability imposed by chapter 376 or chapter 403 for preexisting soil or groundwater contamination due solely to its ownership. This subsection does not affect the rights or liabilities of any past or future owners of the acquired property nor does it affect the liability of any governmental entity for the results of its actions which create or exacerbate a pollution source. An authority and the Department of Environmental Protection may enter into interagency agreements for the performance, funding, and reimbursement of the investigative and remedial acts necessary for property acquired by the authority.

History.--s. 29, ch. 90-136; s. 179, ch. 94-356; s. 64, ch. 99-385; s. 90, ch. 2002-20.

348.0009  Cooperation with other units, boards, agencies, and individuals.--Express authority and power is given and granted to any county, municipality, drainage district, road and bridge district, school district, or other political subdivision, board, commission, or individual in or of this state to enter into contracts, leases, conveyances, or other agreements within the provisions and purposes of the Florida Expressway Authority Act with an authority. An authority may enter into contracts, leases, conveyances, and other agreements, to the extent consistent with chapters 334, 335, 338, and 339 and other provisions of the laws of the state and with 23 U.S.C. ss. 101 et seq., with any political subdivision, agency, or instrumentality of the state and any and all federal agencies, corporations, and individuals, for the purpose of carrying out the provisions of the Florida Expressway Authority Act.

History.--s. 30, ch. 90-136; s. 113, ch. 99-385.

348.0010  Covenant of the state.--The state does hereby pledge to, and agrees with, any person, firm, corporation, or federal or state agency subscribing to or acquiring the bonds to be issued by an authority for the purposes of the Florida Expressway Authority Act that the state will not limit or alter the rights hereby vested in an authority and the department until all bonds at any time issued, together with the interest thereon, are fully paid and discharged, insofar as the same affects the rights of the holders of bonds issued hereunder. The state does further pledge to, and agrees with, the United States that, in the event any federal agency constructs, or contributes any funds for the completion, extension, or improvement of, an expressway system or any part or portion thereof, the state will not alter or limit the rights and powers of an authority and the department in any manner which would be inconsistent with the continued maintenance and operation of the expressway system or the completion, extension, or improvement thereof or which would be inconsistent with the due performance of any agreement between the authority and any such federal agency, and the authority and the department shall continue to have and may exercise all powers granted so long as the same shall be necessary or desirable for carrying out the purposes of the Florida Expressway Authority Act and the purposes of the United States in the completion, extension, or improvement of the expressway system or any part or portion thereof.

History.--s. 31, ch. 90-136.

348.0011  Exemption from taxation.--The effectuation of the authorized purposes of an expressway authority is in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions. For this reason, each authority is not required to pay any taxes or assessments of any kind or nature whatsoever upon any property acquired by it or used by it for such purposes or upon any revenues at any time received by it. The bonds issued by or on behalf of an authority, their transfer, and the income therefrom, including any profits made on the sale thereof, are exempt from taxation of any kind by the state or by any political subdivision or other taxing agency or instrumentality thereof. The exemption granted by this section does not apply to any tax imposed under chapter 220 on interest, income, or profits on debt obligations owned by corporations.

History.--s. 32, ch. 90-136; s. 58, ch. 94-237.

348.0012  Exemptions from applicability.--The Florida Expressway Authority Act does not apply:

(1)  In a county in which an expressway authority has been created pursuant to parts II-IX of this chapter; or

(2)  To a transportation authority created pursuant to chapter 349.

History.--s. 33, ch. 90-136; s. 147, ch. 92-152; s. 59, ch. 94-237.

348.216  Short title.

348.217  Definitions.

348.218  Brevard County Expressway Authority.

348.219  Purposes and powers.

348.22  Bonds of the authority.

348.221  Remedies of the bondholders.

348.222  Lease-purchase agreement.

348.223  Department of Transportation may be appointed agent of authority for construction.

348.224  Acquisition of lands and property.

348.225  Cooperation with other units, boards, agencies and individuals.

348.226  Covenant of the state.

348.227  Exemption from taxation.

348.228  Eligibility for investments and security.

348.229  Pledges enforceable by bondholders.

348.23  This part complete and additional authority.

348.216  Short title.--This part shall be known and may be cited as the "Brevard County Expressway Authority Law."

History.--s. 1, ch. 72-408.

348.217  Definitions.--As used in this part, unless the context clearly indicates otherwise:

(1)  The term "agency of the state" means and includes the state and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated or established by, the state.

(2)  The term "authority" means the body politic and corporate, an agency of the state, created by this part.

(3)  The term "bonds" means and includes the notes, bonds, refunding bonds, or other evidences of indebtedness or obligations, in either temporary or definitive form, which the authority is authorized to issue pursuant to this part.

(4)  The term "Brevard County Expressway System" or "system" means generally a modern highway system of roads, bridges, and causeways within Brevard County or a major road, bridge, or causeway, with access limited or unlimited as the authority may determine, and such structures, appurtenances, and facilities related thereto, including all approaches, streets, roads, bridges, and avenues of access for such system.

(5)  The term "constitutional gas tax" means and includes the 20-percent and 80-percent surplus gasoline tax funds accruing in each year to the Department of Transportation for use in Brevard County under the provisions of s. 9(c)(2), Art. XII of the State Constitution, after deduction only of any amounts of such gasoline tax funds heretofore pledged by the Department of Transportation or the county for outstanding obligations, or all other such funds as may otherwise be provided by the constitution for use in Brevard County.

(6)  The term "county" means the County of Brevard.

(7)  The term "county gas tax" means all the gasoline tax funds accruing in each year for use in Brevard County under the provisions of s. 206.60.

(8)  The term "Department of Transportation" or "department" means the Department of Transportation of the state, organized and existing under and by virtue of the provisions of chapters 334-339.

(9)  The term "expressway" means the same as limited access expressway.

(10)  The term "federal agency" means and includes the United States, the President of the United States, and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated or established by, the United States.

(11)  The term "lease-purchase agreement" means the lease-purchase agreements which the authority is authorized pursuant to this part to enter into with the Department of Transportation.

(12)  The term "limited access expressway" means a street or highway especially designed for through traffic and over, from, or to which no person shall have the right of easement, use, or access except in accordance with the rules and regulations promulgated and established by the authority for the use of such facility. Such highways or streets may be parkways from which trucks, buses, and other commercial vehicles shall be excluded, or they may be freeways open to use by all customary forms of street and highway traffic.

(13)  The term "members" means the governing body of the authority, and the term "member" means one of the individuals constituting such governing body.

(14)  The term "State Board of Administration" means the body corporate created, organized, and existing under and by virtue of the provisions of s. 9(c)(5), Art. XII of the State Constitution.

(15)  Words importing singular number include the plural number in each case and vice versa, and words importing persons include firms and corporations.

History.--s. 2, ch. 72-408; s. 208, ch. 81-259; s. 45, ch. 83-3.

348.218  Brevard County Expressway Authority.--

(1)  There is hereby created and established a body politic and corporate, an agency of the state, to be known as the Brevard County Expressway Authority, hereinafter referred to as "authority."

(2)  The governing body of the authority shall consist of five members, one member appointed by the Board of County Commissioners of Brevard County from each of the county commission districts of Brevard County. In the alternative, the board of county commissioners, in its sole discretion, may elect to serve individually as the governing body of the authority and in the event of such election, such individual county commissioners shall possess full and complete power and authority as the governing body of said authority as specified under this part. In the event said board of county commissioners does not elect to serve individually as the governing body of the authority, two of the members who are first appointed shall serve a term of 2 years beginning on January 1 of the year of their appointment, and three of the members who are first appointed shall serve a term of 4 years beginning on January 1 of the year of their appointment. Thereafter, the term of such appointed members shall be for 4 years. Each member so appointed shall serve at the pleasure of the Board of County Commissioners of Brevard County and shall hold office until his or her successor has been appointed and qualified. A vacancy occurring during a term shall be filled only for the balance of the unexpired term.

(3)  The authority shall elect one of its members as chair of the authority. The authority shall also elect a secretary and a treasurer, who may or may not be members of the authority. The secretary and treasurer shall hold such offices at the will of the authority. Three members of the authority shall constitute a quorum of the authority to exercise all of the rights and perform all of the duties of the authority.

(4)  The authority may employ an executive secretary, an executive director, its own counsel and legal staff, technical experts, and such engineers and employees, permanent or temporary, as it may require, and may determine the qualifications and fix the compensation of such persons, firms, or corporations, and may employ a fiscal agent or agents.

(5)  The authority may avail itself of the facilities and employees of Brevard County for the purpose of carrying out any rights or duties granted or imposed on said authority by this part or any other provisions of law. Brevard County is hereby authorized to enter into agreements with the authority in order to make available its facilities and employees. Reimbursement shall be made by the authority to Brevard County should the authority, in its discretion, utilize said facilities or employees, but said reimbursement shall not exceed the actual costs to Brevard County.

(6)  Members of the authority shall be entitled to receive from the authority their travel and other necessary expenses incurred in connection with the business of the authority, as provided in s. 112.061, but they shall draw no salaries or other compensation.

History.--s. 3, ch. 72-408; s. 515, ch. 95-148.

348.219  Purposes and powers.--

(1)  The authority created and established by this part shall have the right to acquire, hold, construct, improve, maintain, operate, own, and lease in the capacity of lessor the Brevard County Expressway System, hereinafter referred to as "system."

(2)  It is the express intention of this part that the authority, in the construction of the Brevard County Expressway System, be authorized to construct any extensions, additions, or improvements to such system or appurtenant facilities, including all necessary approaches, roads, bridges, and avenues of access, with such changes, modifications, or revisions of such project as are deemed desirable and proper.

(3)  The authority is granted, and shall have and may exercise, all powers necessary, appurtenant, convenient, or incidental to the carrying out of the aforesaid purposes, including, but without being limited to, the following rights and powers:

(a)  To sue and be sued, implead and be impleaded, and complain and defend in all courts.

(b)  To adopt, use, and alter at will a corporate seal.

(c)  To acquire, purchase, hold, lease as lessee, and use any franchise, property, real, personal, or mixed, tangible or intangible, or any interest therein, necessary or desirable for carrying out the purposes of the authority, and to sell, lease as lessor, transfer, and dispose of any property or interest therein at any time acquired by it.

(d)  To enter into and make leases for terms not exceeding 40 years, as either lessee or lessor, in order to carry out the right to lease as set forth in this part.

(e)  To enter into and make lease-purchase agreements with the Department of Transportation for terms not exceeding 40 years, or until any bonds secured by a pledge of rentals thereunder, and any refundings thereof, are fully paid as to both principal and interest, whichever is longer.

(f)  To fix, alter, charge, establish, and collect rates, fees, rentals, and other charges for the services and facilities of the Brevard County Expressway System, which rates, fees, rentals, and other charges shall always be sufficient to comply with any covenants made with the holders of any bonds issued pursuant to this part. Such right and power may be assigned or delegated by the authority to the Department of Transportation.

(g)  To borrow money and make and issue negotiable notes, bonds, refunding bonds, and other evidences of indebtedness or obligations, either in temporary or definitive form, hereinafter in this part sometimes called "bonds," of the authority for the purpose of financing all or part of the improvement, extension, or construction of the Brevard County Expressway System and appurtenant facilities, including all approaches, streets, roads, bridges, and avenues of access for such Brevard County Expressway System and for any other purpose authorized by this part, said bonds to mature in not more than 40 years from the date of issuance thereof, and to secure the payment of such bonds or any part thereof by a pledge of any or all of its revenues, rates, fees, rentals, or other charges, including all or any portion of the constitutional gas tax or the county gas tax, or both, and in general to provide for the security of such bonds and the rights and remedies of the holders thereof. The pledge of the constitutional gas tax or the county gas tax, or both, and the amount and conditions of such pledge shall be first approved by the Board of County Commissioners of Brevard County. However, no portion of the constitutional gas tax or the county gas tax, or both, may be pledged for the construction of any project for which a toll is to be charged unless the anticipated tolls are reasonably estimated by the board of county commissioners, at the date of its resolution pledging such funds, to be sufficient to cover the principal and interest of such obligations during the period when such pledge of funds will be in effect.

1.  The authority shall reimburse Brevard County for any sums expended from such gasoline tax funds used for the payment of such obligations. Any gasoline tax funds so disbursed shall be repaid when the authority deems it practicable, together with interest at the highest rate applicable to any obligations of the authority.

2.  In the event the authority determines to fund or refund any bonds theretofore issued by it or by the commission as aforesaid prior to the maturity thereof, the proceeds of such funding or refunding bonds shall, pending the prior redemption of the bonds to be funded or refunded, be invested in direct obligations of the United States; and it is the express intention of this part that such outstanding bonds may be funded or refunded by the issuance of bonds pursuant to this part, notwithstanding that part of such outstanding bonds will not mature or become redeemable until 10 years after the date of issuance of bonds pursuant to this part to fund or refund such outstanding bonds.

(h)  To make contracts of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business.

(i)  Without limitation of the foregoing, to borrow money and accept grants from, and to enter into contracts, leases, or other transactions with, any federal agency, the state, any agency of the state, the County of Brevard, or any other public body of the state.

(j)  To have the power of eminent domain, including the procedural powers granted under both chapters 73 and 74.

(k)  To pledge, hypothecate, or otherwise encumber all or any part of the revenues, rates, fees, rentals, or other charges or receipts of the authority, including all or any portion of the constitutional gas tax or the county gas tax, or both, subject to the prior approval of the Board of County Commissioners of Brevard County as provided herein, as security for all or any of the obligations of the authority.

(l)  To do all acts and things necessary or convenient for the conduct of its business and the general welfare of the authority in order to carry out the powers granted to it by this part or any other law.

(m)  The authority is specifically authorized to construct a toll facility in Brevard County establishing a two-lane or four-lane bridge located in the southern area of Brevard County, south of the municipality of Melbourne, connecting existing U.S. Highway No. 1 with State Road A1A across the Indian River at such exact location as is determined by the authority to be economically feasible.

(4)  The authority shall have no power at any time or in any manner to pledge the credit or taxing power of the state or any political subdivision or agency thereof, including the County of Brevard; nor shall any of the obligations of the authority be deemed to be obligations of the state or of any political subdivision or agency thereof; nor shall the state or any political subdivision or agency thereof, except the authority, be liable for the payment of the principal of or interest on such obligations.

(5)  Anything in this part or any other provisions of the law to the contrary notwithstanding, the consent of any municipality shall not be necessary for any project of the authority, whether or not the project lies within the boundaries of any municipality, either in whole or in part.

History.--s. 4, ch. 72-408; s. 46, ch. 83-3.

348.22  Bonds of the authority.--

(1)  The bonds of the authority issued pursuant to the provisions of this part, whether on original issuance or on refunding, shall be authorized by resolution of the members thereof; may be either term or serial bonds; and shall bear such date or dates, mature at such time or times (not to exceed 40 years from their respective dates), bear interest at such rate or rates (not exceeding 8 percent per year, payable semiannually), be in such denominations, be in such form (either coupon or fully registered), carry such registration or exchangeability privileges, be payable in such medium of payment and at such place or places, be subject to such terms of redemption, and be entitled to such priorities on the revenues, rates, fees, rentals, or other charges or receipts of the authority, including the constitutional gas tax or the county gas tax, or both, subject to the prior approval of the Board of County Commissioners of Brevard County, as provided herein. The bonds shall be executed either by manual or facsimile signature by such officers as the authority shall determine, provided such bonds bear at least one signature which is manually executed thereon, and the coupons attached to such bonds shall bear the facsimile signature or signatures of such officer or officers as are designated by the authority and shall have the seal of the authority affixed, imprinted, reproduced, or lithographed thereon, all as may be prescribed in such resolution or resolutions.

(2)  Such bonds shall be sold at public or private sale at such price or prices as the authority determines to be in its best interest, except that the interest cost to the authority on such bonds may not exceed 8 percent per year. Pending the preparation of definitive bonds, interim certificates may be issued to the purchaser or purchasers of such bonds and may contain such terms and conditions as the authority may determine.

(3)  Any such resolution or resolutions authorizing any bonds hereunder may contain provisions, which shall be part of the contract with the holders of such bonds, as to:

(a)  The pledging of all or any part of the revenues, rates, fees, rentals, including all or any portion of the constitutional gas tax or the county gas tax, or both, subject to the prior approval of the Board of County Commissioners of Brevard County, as provided herein, or other charges or receipts of the authority derived from the system.

(b)  The completion, improvement, operation, extension, maintenance, repair, lease, or lease-purchase agreement of such system and the duties of the authority and others, including the Department of Transportation, with reference thereto.

(c)  Limitations on the purposes to which the proceeds of the bonds, then or thereafter to be issued, or of any loan or grant by the United States or the state may be applied.

(d)  The fixing, charging, establishing, and collecting of rates, fees, rentals, or other charges for use of the services and facilities of the Brevard County Expressway System or any part thereof.

(e)  The setting aside of reserves or sinking funds or repair and replacement funds and the regulation and disposition thereof.

(f)  Limitations on the issuance of additional bonds.

(g)  The terms and provisions of any lease-purchase agreement, deed of trust, or indenture securing the bonds, or under which the same may be issued.

(h)  Any other or additional agreements with the holders of the bonds which the authority may deem desirable and proper.

(4)  The authority may employ fiscal agents as provided by this part, or the State Board of Administration may, upon request of the authority, act as fiscal agent for the authority in the issuance of any bonds which may be issued pursuant to this part; and the State Board of Administration may, upon request of the authority, take over the management, control, administration, custody, and payment of any or all debt services of funds or assets now or hereafter available for any bonds issued pursuant to this part. The authority may enter into deeds of trust, indentures, or other agreements within or without the state as security for such bonds and may, under such agreements, sign and pledge all or any of the revenues, rates, fees, rentals, or other charges or receipts of the authority, including the constitutional gas tax or the county gas tax, or both, subject to the prior approval of the Board of County Commissioners of Brevard County, as provided herein. Any such deed of trust, indenture, or other agreement may contain such provisions as are customary in such instruments or as the authority may authorize, including, but without limitation, provisions as to:

(a)  The completion, improvement, operation, extension, maintenance, repair, and lease of, or lease-purchase agreement relating to, the Brevard County Expressway System and the duties of the authority and others, including the Department of Transportation, with reference thereto.

(b)  The application of funds and the safeguarding of funds on hand or on deposit.

(c)  The rights and remedies of the trustee and the holders of the bonds.

(d)  The terms and provisions of the bonds or the resolutions authorizing the issuance of same.

(5)  Any of the bonds issued pursuant to this part are, and are hereby declared to be, negotiable instruments and shall have all the qualities and incidents of negotiable instruments under the law merchant and the Uniform Commercial Code of the state.

History.--s. 5, ch. 72-408; s. 47, ch. 83-3.

348.221  Remedies of the bondholders.--

(1)  The rights and remedies herein conferred upon or granted to the bondholders shall be in addition to, and not in limitation of, any rights and remedies lawfully granted to such bondholders by the resolution or resolutions providing for the issuance of bonds or by a lease-purchase agreement, deed of trust, indenture, or other agreement under which the bonds may be issued or secured. In the event that the authority defaults in payment of the principal of or interest on any of the bonds issued pursuant to the provisions of this part after such principal of or interest on such bonds has become due, whether at maturity or upon call for redemption, or the Department of Transportation defaults in any payments under, or covenants made in, any lease-purchase agreement between the authority and the Department of Transportation, and such default continues for a period of 30 days, or in the event that the authority or the Department of Transportation fails or refuses to comply with the provisions of this part or any agreement made with, or for the benefit of, the holders of the bonds, the holders of 25 percent, in aggregate principal amount, of the bonds then outstanding shall be entitled as of right to the appointment of a trustee to represent such bondholders for the purposes hereof; however, such holders of 25 percent in aggregate principal amount of the bonds then outstanding must first give notice of their intention to appoint a trustee to the authority and to the Department of Transportation. Such notice shall be deemed to have been given if given in writing and deposited in a securely sealed postpaid wrapper, mailed at a regularly maintained United States post office box or station, and addressed, respectively, to the chair of the authority at the office of the authority and to the secretary of the Department of Transportation at the principal office of the Department of Transportation.

(2)  Such trustee, and any trustee under any deed of trust, indenture, or other agreement, may, and upon written request of the holders of 25 percent, or such other percentage as may be specified in any deed of trust, indenture, or other agreement aforesaid, in principal amount of the bonds then outstanding, shall, in any court of competent jurisdiction, in his, her, or its own name:

(a)  By mandamus or other suit, action, or proceeding at law or in equity enforce all rights of the bondholders, including the right to require the authority to fix, establish, maintain, collect, and charge rates, fees, rentals, and other charges adequate to carry out any agreement as to, or pledge of, the revenues or receipts of the authority, to carry out any other covenants and agreements with or for the benefit of the bondholders, and to perform its and their duties under this part.

(b)  By mandamus or other suit, action, or proceeding, at law or in equity, enforce all rights of the bondholders under or pursuant to any lease-purchase agreement between the authority and the Department of Transportation, including the right to require the Department of Transportation to make all rental payments required to be made by it under the provisions of any such lease-purchase agreement, whether from the Brevard County constitutional gas tax or county gas tax, or both, or other funds of the department so agreed to be paid and to require the Department of Transportation to carry out any other covenants and agreements with, or for the benefit of, the bondholders and to perform its and their duties under this part.

(c)  Bring suit upon the bonds.

(d)  By action or suit in equity require the authority or the Department of Transportation to account as if it were the trustee of an express trust for the bondholders.

(e)  By action or suit in equity enjoin any acts or things which may be unlawful or in violation of the rights of the bondholders.

(3)  Any trustee, when appointed as aforesaid or acting under a deed of trust, indenture, or other agreement, and whether or not all bonds have been declared due and payable, shall be entitled as of right to the appointment of a receiver, who may enter upon and take possession of the Brevard County Expressway System or the facilities or any part or parts thereof, the rates, fees, rentals, or other revenues, charges, or receipts from which are, or may be, applicable to the payment of the bonds so in default, and, subject to and in compliance with the provisions of any lease-purchase agreement between the authority and the Department of Transportation, operate and maintain the same for, on behalf of, and in the name of, the authority, the Department of Transportation, and the bondholders; collect and receive all rates, fees, rentals, and other charges or receipts or revenues arising therefrom in the same manner as the authority or the Department of Transportation might do, and who shall deposit all such moneys in a separate account and apply the same in such manner as the court directs. In any suit, action, or proceeding by the trustees, the fees, counsel fees, and expenses of the trustee, and the receiver, if any, and all costs and disbursements allowed by the court shall be a first charge on any rates, fees, rentals, or other charges, revenues, or receipts, derived from the Brevard County Expressway System, or the facilities or services or any part or parts thereof, including payments under any such lease-purchase agreement as aforesaid, which such rates, fees, rentals, or other charges, revenues, or receipts shall or may be applicable to the payment of the bonds so in default. Such trustee shall, in addition to the foregoing, have and possess all of the powers necessary or appropriate for the exercise of any functions specifically set forth herein or incidental to the representation of the bondholders in the enforcement and protection of their rights.

History.--s. 6, ch. 72-408; s. 48, ch. 83-3; s. 516, ch. 95-148.

348.222  Lease-purchase agreement.--

(1)  In order to effectuate the purposes of this part, and as authorized by this part, the authority may enter into a lease-purchase agreement with the Department of Transportation relating to and covering the Brevard County Expressway System.

(2)  Such lease-purchase agreement shall provide for the leasing of the Brevard County Expressway System by the authority, as lessor, to the Department of Transportation, as lessee; shall prescribe the term of such lease and the rentals to be paid thereunder; and may provide that upon the completion of the faithful performance thereunder and the termination of such lease-purchase agreement, title in fee simple absolute to the Brevard County Expressway System, as then constituted, may be transferred in accordance with law by the authority to the state, and, in such an event, the authority shall deliver to the Department of Transportation such deeds and conveyances as shall be necessary or convenient to vest title in fee simple absolute in the state.

(3)  Such lease-purchase agreement may include such other provisions, agreements, and covenants as the authority and the Department of Transportation deem advisable or required, including, but not limited to, provisions as to the bonds to be issued under and for the purposes of this part; the completion, extension, improvement, operation, and maintenance of the Brevard County Expressway System and the expenses and cost of operation of the authority; the charging and collection of tolls, rates, fees, and other charges for the use of the services and facilities thereof; the application of federal or state grants or aid which may be made or given to assist the authority in the completion, extension, improvement, operation, and maintenance of the Brevard County Expressway System, which the authority is hereby authorized to accept and apply to such purposes; the enforcement of payment and collection of rentals; and any other terms, provisions, or covenants necessary, incidental, or appurtenant to the making of and full performance under such lease-purchase agreement.

(4)  The Department of Transportation, as lessee under such lease-purchase agreement, is authorized to pay, as rentals thereunder, any rates, fees, charges, funds, moneys, receipts, or income accruing to the Department of Transportation from the operation of the Brevard County Expressway System and from the constitutional gas tax or the county gas tax, or both, and may also pay, as rentals, any appropriations received by the Department of Transportation pursuant to any act of the Legislature heretofore or hereafter enacted. However, nothing herein or in such lease-purchase agreement is intended to, nor shall this part or such lease-purchase agreement, require the making or continuance of such appropriations, nor shall any holder of bonds issued pursuant to this part ever have any right to compel the making or continuance of such appropriations.

(5)  No pledge of such constitutional gas tax or such county gas tax, or both, as rentals under such lease-purchase agreement shall be made without the consent of Brevard County, evidenced by a resolution duly adopted by the board of county commissioners of that county at a public hearing held pursuant to due notice thereof published at least once a week for 3 consecutive weeks before the hearing in a newspaper of general circulation in the county. The resolution, among other things, shall provide that any excess of such pledged constitutional gas tax or county gas tax, or both, which is not required for debt service or reserves for such debt service for any bonds issued by such authority shall be distributed annually to Brevard County as provided by law. The Department of Transportation has the power to covenant in any lease-purchase agreement that it will pay all or any part of the cost of the operation, maintenance, repair, renewal, and replacement of the system, and any part of the cost of completing the system, to the extent that the proceeds of bonds issued therefor are insufficient, from sources other than the revenues derived from the operation of the system and from the constitutional gas tax or county gas tax, or both. The Department of Transportation may also agree to make such other payments from any moneys available to Brevard County, in connection with the construction or completion of the system, as are deemed by the Department of Transportation to be fair and proper under any such covenants heretofore or hereafter entered into.

(6)  The system shall be a part of the state road system, and the Department of Transportation is authorized, upon the request of the authority, to expend out of any funds available for the purpose such moneys and to use such of its engineering and other forces as may be necessary and desirable, in the judgment of the Department of Transportation, for the operation of the authority and for traffic surveys, borings, surveys, preparation of plans and specifications, estimates of cost, and other preliminary engineering and other studies.

History.--s. 7, ch. 72-408; s. 49, ch. 83-3.

348.223  Department of Transportation may be appointed agent of authority for construction.--The Department of Transportation may be appointed by said authority as its agent for the purpose of constructing improvements and extensions to the Brevard County Expressway System and for the completion thereof. In such event, the authority shall provide the Department of Transportation with complete copies of all documents, agreements, resolutions, and contracts, and instruments relating thereto, and shall request the Department of Transportation to do such construction work, including the planning, surveying, and actual construction of the completion, extensions, and improvements to the Brevard County Expressway System, and shall transfer to the credit of an account of the Department of Transportation in the Treasury of the state the necessary funds therefor, and the Department of Transportation shall thereupon be authorized, empowered, and directed to proceed with such construction and to use the said funds for such purpose in the same manner that it is now authorized to use the funds otherwise provided by law for its use in construction of roads and bridges.

History.--s. 8, ch. 72-408.

348.224  Acquisition of lands and property.--

(1)  For the purposes of this part, the Brevard County Expressway Authority may acquire private or public property and property rights, including rights of access, air, view, and light, by gift, devise, purchase, or condemnation by eminent domain proceedings, as the authority may deem necessary for any of the purposes of this part. The right of eminent domain herein conferred shall be exercised by the authority in the manner provided by law.

(2)  In connection with the acquisition of property or property rights, as herein provided, the authority may, in its discretion, acquire an entire lot, block, or tract of land if, by so doing, the interests of the public will be best served, even though said entire lot, block, or tract is not immediately needed for the right-of-way proper.

(3)  The authority may acquire such rights, title, interest, or easements in such lands and property as it may deem necessary.

History.--s. 9, ch. 72-408.

348.225  Cooperation with other units, boards, agencies and individuals.--Express authority and power is hereby given and granted any county, municipality, drainage district, road and bridge district, school district, or any other political subdivision, board, commission, or individual, of the state to make and enter into, with the authority, contracts, leases, conveyances, or other agreements within the provisions and purposes of this part. The authority is hereby expressly authorized to make and enter into contracts, leases, conveyances, and other agreements with any political subdivision, agency, or instrumentality of the state, any federal agency, or any corporation or individual for the purpose of carrying out the provisions of this part.

History.--s. 10, ch. 72-408.

348.226  Covenant of the state.--The state does hereby pledge to, and agrees with, any person, firm, or corporation or any federal or state agency subscribing to, or acquiring, the bonds to be issued by the authority for the purposes of this part that the state will not limit or alter the rights hereby vested in the authority and the Department of Transportation until all bonds at any time issued, together with the interest thereon, are fully paid and discharged, insofar as the same affect the rights of the holders of bonds issued hereunder. The state does further pledge to, and agree with, the United States that, in the event any federal agency shall construct, or contribute any funds for, the completion, extension, or improvement of the Brevard County Expressway System, or any part or portion thereof, the state will not alter or limit the rights and powers of the authority and the Department of Transportation in any manner which would be inconsistent with the continued maintenance and operation of the Brevard County Expressway System or the completion, extension, or improvement thereof, or which would be inconsistent with the due performance of any agreements between the authority and any federal agency, and the authority and the Department of Transportation shall continue to have and may exercise all powers herein granted so long as the same shall be necessary or desirable for the carrying out of the purposes of this part and the purposes of the United States in the completion, extension, or improvement of the Brevard County Expressway System or any part or portion thereof.

History.--s. 11, ch. 72-408.

348.227  Exemption from taxation.--The effectuation of the authorized purposes of the authority created under this part is in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and since such authority will be performing essential governmental functions in effectuating such purposes, such authority shall not be required to pay any taxes or assessments of any kind or nature whatsoever upon any property acquired or used by it for such purposes, or upon any rates, fees, rentals, receipts, income, or charges at any time received by it.

History.--s. 12, ch. 72-408.

348.228  Eligibility for investments and security.--Any bonds or other obligations issued pursuant to this part shall be and constitute legal investments for banks, savings banks, trustees, executors, administrators, and all other fiduciaries, and for all state, municipal, and other public funds, and shall also be and constitute securities eligible for deposit and security for all state, municipal, or other public funds, notwithstanding the provisions of any other law or laws to the contrary.

History.--s. 13, ch. 72-408.

348.229  Pledges enforceable by bondholders.--It is the express intention of this part that any pledge by the Department of Transportation of rates, fees, revenues, Brevard County gasoline tax funds, or other funds, as rentals, to the authority, or any covenants or agreements relative thereto, may be enforceable in any court of competent jurisdiction against the authority or directly against the Department of Transportation by any holder of bonds issued by the authority.

History.--s. 14, ch. 72-408.

348.23  This part complete and additional authority.--

(1)  The powers conferred by this part shall be in addition and supplemental to the existing powers of said board and the Department of Transportation, and this part shall not be construed as repealing any of the provisions of any other law, general, special, or local, but to supersede such other laws in the exercise of the powers provided in this part and to provide a complete method for the exercise of the powers granted in this part. The extension and improvement of the Brevard County Expressway System, and the issuance of bonds hereunder to finance all or part of the cost thereof, may be accomplished upon compliance with the provisions of this part without regard to, or necessity for compliance with, the provisions, limitations, or restrictions contained in any other general, special, or local law, and no approval of any bonds issued under this part by the qualified electors in the state, in the County of Brevard, or in any other political subdivision of the state shall be required for the issuance of such bonds pursuant to this part.

(2)  This part shall not be deemed to repeal, rescind, or modify any other law or laws relating to the State Board of Administration or the Department of Transportation, but shall be deemed to, and shall, supersede such other law or laws as are inconsistent with the provisions of this part.

History.--s. 15, ch. 72-408.

348.24  Short title.

348.241  Definitions.

348.242  Broward County Expressway Authority.

348.243  Purposes and powers.

348.244  Bonds.

348.245  Lease-purchase agreement.

348.246  Department may be appointed agent of division for construction.

348.247  Acquisition of lands and property.

348.248  Cooperation with other units, boards, agencies, and individuals.

348.249  Covenant of the state.

348.25  Exemption from taxation.

348.24  Short title.--This part shall be known and may be cited as the "Broward County Expressway Authority Law."

History.--s. 1, ch. 83-289.

348.241  Definitions.--As used in this part, unless the context clearly indicates otherwise:

(1)  The term "agency of the state" means and includes this state and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, this state.

(2)  The term "authority" means the Broward County Expressway Authority.

(3)  The term "bonds" means and includes the notes, bonds, refunding bonds, or other evidences of indebtedness or obligations, in either temporary or definitive form, which the authority is authorized to issue pursuant to this part.

(4)  The term "Broward County Expressway System" means any and all expressways in Broward County and appurtenant facilities thereto, including, but not limited to, all approaches, roads, bridges, and avenues of access for such expressway or expressways.

(5)  The term "Broward County gasoline tax funds" means all the 80-percent surplus gasoline tax funds accruing in each year to the Department of Transportation for use in Broward County under the provisions of s. 9, Art. XII of the State Constitution, after deduction only of any amounts of such gasoline tax funds heretofore pledged by the department or the county for outstanding obligations.

(6)  The term "county" means Broward County.

(7)  The term "Deerfield Expressway" means a limited access arterial highway facility located in north Broward County, as generally described in the current long-range transportation plan, Broward County Metropolitan Planning Organization Year 2000 Financially Feasible Plan, and the Broward County Trafficways Plan, originating at the Sawgrass Expressway, proceeding eastward in a corridor along the southern boundary of the City of Parkland, and terminating at Florida's Turnpike, with appurtenant facilities thereto, including necessary approaches, roads, bridges, and avenues of access.

(8)  The term "department" means the Department of Transportation.

(9)  The term "division" means the Division of Bond Finance of the State Board of Administration.

(10)  The term "express written consent" means prior express written consent given in the form of a resolution adopted by the Broward County Board of County Commissioners.

(11)  The term "expressway" means the same as "limited access facility" as defined in s. 334.03.

(12)  The term "federal agency" means and includes the United States, the President of the United States, and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the United States.

(13)  The term "I-595/Port Everglades Expressway" means a limited access arterial highway facility located in central Broward County, as generally described in the current long-range transportation plan, Broward County Metropolitan Planning Organization Year 2000 Financially Feasible Plan, and the Broward County Trafficways Plan, originating at the proposed junction of I-75 and the Sawgrass Expressway and proceeding easterly in the State Road 84 corridor to relocated U.S. 1, with appurtenant facilities thereto, including necessary approaches, roads, bridges, and avenues of access. For the purposes of this act, the interstate funded portion of such expressway is that portion extending from relocated U.S. 1 to a point east of Florida's Turnpike and west of State Road 7; the noninterstate funded portion of such expressway is that portion extending from a point east of Florida's Turnpike and west of State Road 7 to I-75.

(14)  The term "lease-purchase agreement" means a lease-purchase agreement which the authority is authorized to enter with the Department of Transportation pursuant to this part.

(15)  The term "members" means the governing body of the authority, and the term "member" means one of the individuals constituting such governing body.

(16)  The term "Sawgrass Expressway" means a limited access arterial highway facility located in west Broward County, as generally described in the current long-range transportation plan, Broward County Metropolitan Planning Organization Year 2000 Financially Feasible Plan, and the Broward County Trafficways Plan, originating at I-75, proceeding northward in a corridor to the east of the L-36 Canal, and connecting to the Deerfield Expressway, with appurtenant facilities thereto, including necessary approaches, roads, bridges, and avenues of access.

(17)  Words importing singular number include the plural number in each case and vice versa, and words importing persons include firms and corporations.

History.--s. 1, ch. 83-289; s. 288, ch. 92-279; s. 55, ch. 92-326.

348.242  Broward County Expressway Authority.--

(1)  There is created and established a body politic and corporate, an agency of the state, to be known as the "Broward County Expressway Authority," hereinafter referred to as the "authority."

(2)  The governing body of the authority shall consist of five members. Each member of the governing body shall be a permanent resident of Broward County at all times during his or her term of office.

(a)  Two members shall be appointed by the Governor, subject to confirmation by the Senate, and three members shall be appointed by the Board of County Commissioners of Broward County. Not more than one of the members appointed by the board of county commissioners may be a member of that board. One of the two members appointed by the Governor must be an elected municipal official, and the other member may not be an officeholder. The members appointed by the Governor shall serve terms of 4 years. If the member appointed by the Governor does not remain in elected municipal office, that member's seat shall become vacant. The term of each appointed member shall be for 4 years. A vacancy occurring during a term shall be filled by the original appointing authority only for the balance of the unexpired term. Any member of the authority is eligible for reappointment. Members appointed by the Board of County Commissioners of Broward County shall be reviewed annually by the board.

(b)  Each member of the authority, before entering upon his or her official duties, shall take and subscribe to an oath, before some official authorized by law to administer oaths, that he or she will faithfully, honestly, and impartially perform the duties devolving upon him or her in office as a member of the governing body of the authority and that he or she will not neglect any duty imposed upon him or her by this part.

(3)  The authority shall elect one of its members as chair of the authority to serve for a term of 2 years. The authority shall also elect a secretary and a treasurer, who may or may not be members of the authority. The chair, secretary, and treasurer shall hold such offices at the will of the authority.

(4)  Three members of the authority constitute a quorum. In all cases, an affirmative vote of at least three members present at a given meeting is necessary for any action taken by the authority. No vacancy in the authority shall impair the right of a quorum of the authority to exercise all of the rights and perform all of the duties of the authority.

(5)  Upon the effective date of his or her appointment, or as soon as practicable thereafter, each appointed member of the authority shall enter upon his or her duties.

(6)  The authority may employ an executive secretary, an executive director, its own counsel and legal staff, technical experts, and such engineers and such employees, permanent or temporary, as it may require; determine the qualifications and fix the compensation of such persons, firms, or corporations; and employ a fiscal agent or agents. The authority may delegate to one or more of its agents or employees such of its powers as it deems necessary to carry out the purposes of this part, subject always to the supervision and control of the authority. The authority may utilize employees and contractors of the county through a contractual agreement with the county.

(7)  Members of the authority are entitled to receive from the authority travel and other necessary expenses incurred in connection with the business of the authority, as provided in s. 112.061, but they may draw no salaries or other compensation.

(8)  A member of the authority may be removed from office by the Governor or by the Board of County Commissioners of Broward County, whichever appointed the member, for misconduct, malfeasance, misfeasance, or nonfeasance in office.

(9)  The Administrative Procedure Act, chapter 120, applies to the authority.

History.--s. 1, ch. 83-289; s. 517, ch. 95-148; s. 139, ch. 99-13.

348.243  Purposes and powers.--

(1)(a)  The authority created and established by the provisions of this part is granted and shall have the right to acquire, hold, construct, improve, maintain, operate, own, and lease the Broward County Expressway System, hereinafter referred to as the "system."

(b)  It is the express intention of this part that the authority, in the construction of the system, be authorized to construct and shall construct roadways commonly known as the noninterstate funded portions of the I-595/Port Everglades Expressway, the Deerfield Expressway, and the Sawgrass Expressway. Construction of the system may be completed in segments, phases, or stages, in a manner which will permit the expansion of these segments, phases, or stages to the desired expressway configuration. Further, it is the express intention of this part that the authority, in the construction of the system, be authorized to construct any extensions of, additions to, or improvements to the system or appurtenant facilities, including all necessary approaches, roads, bridges, and avenues of access, with such changes, modifications, or revisions of the project that are deemed desirable and proper. The authority may only add additional expressways to the system, under the terms and conditions set forth in this part, with the prior express written consent of the Broward County Board of County Commissioners, and only in the event that such additional expressways lack adequate committed funding for implementation, are financially feasible, and are compatible with the existing plans, projects, and programs of the authority.

(2)  The authority is granted, and shall have and may exercise, all powers necessary, appurtenant, convenient, or incidental to the carrying out of the aforesaid purposes, including, but not limited to, the following rights and powers:

(a)  To sue and be sued, implead and be impleaded, and complain and defend in all courts.

(b)  To adopt, use, and alter at will a corporate seal.

(c)  To acquire, purchase, hold, lease as lessee, and use any franchise or property, real, personal, or mixed, tangible or intangible, or any interest therein necessary or desirable for carrying out the purposes of the authority and to sell, lease as lessor, transfer, and dispose of any property or interest therein at any time acquired by it.

(d)  To enter into and make leases, either as lessee or as lessor, in order to carry out the right to lease as set forth in this part.

(e)  To enter into and make lease-purchase agreements with the department until any bonds secured by a pledge of rentals thereunder, and any refundings thereof, are fully paid as to both principal and interest.

(f)  To fix, alter, charge, establish, and collect tolls, rates, fees, rentals, and other charges for the services and facilities system, which tolls, rates, fees, rentals, and other charges must always be sufficient to comply with any covenants made with the holders of any bonds issued pursuant to this part. However, such right and power may be assigned or delegated by the authority to the department.

(g)1.  To borrow money as provided by the State Bond Act.

2.  The authority shall reimburse Broward County for any sums expended, together with interest at the highest rate applicable to the bonds of the authority for which the sums were required, from the Broward County gasoline tax funds for payment of the bonds.

(h)  To make contracts of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business.

(i)  Without limitation of the foregoing, to borrow money and accept grants from, and to enter into contracts, leases, or other transactions with, any federal agency, the state, any agency of the state, Broward County, or any other public body of the state.

(j)  To have the power of eminent domain, including the procedural powers granted under chapters 73 and 74.

(k)  To pledge, hypothecate, or otherwise encumber all or any part of the revenues, tolls, rates, fees, rentals, or other charges or receipts of the authority, including all or any portion of the Broward County gasoline tax funds received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department, as security for all or any of the obligations of the authority.

(l)  To enter into an agreement to sell, transfer, and dispose of all property of the Sawgrass Expressway, whether real, personal, or mixed, tangible or intangible, to the Department of Transportation as part of the Turnpike System in accordance with s. 338.2275(4).

(m)  To do all acts and things necessary or convenient for the conduct of its business and the general welfare of the authority in order to carry out the powers granted to it by this part or any other law.

(3)  Any provision in this part or any other provision of law to the contrary notwithstanding, the consent of any municipality is not necessary for any project of the authority, whether or not the project lies in whole or in part within the boundaries of the municipality. However, the officials and residents of any municipality in which any project of the authority is to be located, in whole or in part, shall be given ample opportunity to discuss the project and advise the authority as to their positions thereon at a duly advertised public hearing. Advertisement of the public hearing shall be by way of a newspaper published in Broward County and circulated in the affected municipality. The legal notice and display advertisement shall be published at least 2 weeks before the public hearing and shall contain the time and place of the public hearing and a short description of the subject to be discussed. The public hearing may be adjourned from time to time and set for a time and place certain without the necessity of further advertisement. In routing and locating any expressway or its interchanges in or through a municipality, the authority shall give due regard to the effect of such location on the municipality as a whole and shall not unreasonably split, divide, or otherwise separate areas of the municipality one from the other.

(4)  No use or pledge of all or any portion of the Broward County gasoline tax funds may be made without the prior express written consent of the Broward County Board of County Commissioners.

History.--s. 1, ch. 83-289; s. 14, ch. 90-136.

348.244  Bonds.--Bonds may be issued on behalf of the authority as provided by the State Bond Act.

History.--s. 1, ch. 83-289.

348.245  Lease-purchase agreement.--

(1)  In order to effectuate the purposes of this part and as authorized herein, the authority may enter into a lease-purchase agreement with the department relating to and covering the system.

(2)  The lease-purchase agreement shall provide for the leasing of the system by the authority, as lessor, to the department, as lessee, and shall prescribe the terms of such lease and the rentals to be paid thereunder.

(3)  The lease-purchase agreement may include such other provisions, agreements, and covenants as the authority and the department deem advisable or required, including, but not limited to, provisions as to the bonds to be issued under and for the purposes of this part; the completion, extension, improvement, operation, and maintenance of the system and the expenses and cost of operation of the authority; the charging and collection of tolls, rates, fees, rentals, or other charges for the use of the services and facilities thereof; the application of federal or state grants or aid which may be made or given to assist the authority in the completion, extension, improvement, operation, and maintenance of the system, which the authority is authorized to accept and apply to such purposes; the enforcement of payment and collection of tolls, rates, fees, and rentals; and any other terms, provisions, or covenants necessary, incidental, or appurtenant to the making of, and full performance under, such lease-purchase agreement.

(4)  Upon the faithful performance thereunder and the termination of such lease-purchase agreement, title in fee simple absolute shall be transferred in accordance with law by the authority to the state. At this point, the Department of Transportation at its discretion may provide that any toll, rate, fee, or rental collected may be continued. Such revenues may be used only for repair, operation, and maintenance or for extensions, additions, or improvements to the system or appurtenant facilities.

(5)  The department, as lessee under such lease-purchase agreement, is authorized to pay, as rentals thereunder, any tolls, rates, fees, charges, funds, moneys, receipts, or income accruing to the department from the operation of the system and from the Broward County gasoline tax funds and may also pay, as rentals, any appropriations received by the department pursuant to any act of the Legislature of the state heretofore or hereafter enacted wherein the appropriations are expressly authorized to be used as rentals for the system.

(6)  No pledge of Broward County gasoline tax funds as rentals under such lease-purchase agreement may be made without the consent of Broward County, evidenced by a resolution duly adopted by the board of county commissioners of the county at a public hearing held pursuant to due notice thereof published in a newspaper of general circulation in the county at least once a week for 3 consecutive weeks before the hearing. The resolution, among other things, must provide that any excess of the pledged gasoline tax funds which is not required for debt service, or reserves for such debt service, for any bonds issued by the authority be returned annually to the department for distribution to Broward County as provided by law.

(7)  The department has the power to covenant in any lease-purchase agreement that it will pay all or any part of the cost of the operation or maintenance of the system.

(8)  The system shall be a part of the State Highway System as defined in s. 334.03, and the department is authorized, upon the request of the authority, to expend, out of any funds available for the purpose, such moneys, and to use such of its engineering and other forces as may be necessary and desirable in the judgment of the department, for the operation of the authority and for traffic surveys, borings, surveys, preparation of plans and specifications, estimates of cost, and other preliminary engineering and other studies.

History.--s. 1, ch. 83-289.

348.246  Department may be appointed agent of division for construction.--The department may be appointed by the division as its agent for the purpose of constructing improvements and extensions to the system and for the completion thereof. In such event, the division shall provide the department with complete copies of all documents, agreements, resolutions, contracts, and instruments relating thereto; shall request the department to do such construction work, including the planning, surveying, and actual construction of the completion, extensions, and improvements to the system; and shall transfer to the credit of an account of the department in the State Treasury the necessary funds therefor. The department shall thereupon be authorized, empowered, and directed to proceed with such construction and to use the funds for such purpose in the same manner as it is now authorized to use the funds otherwise provided by law for its use in the construction of roads and bridges.

History.--s. 1, ch. 83-289.

348.247  Acquisition of lands and property.--

(1)  For the purposes of this part, the authority may acquire private or public property and property rights, including rights of access, air, view, and light, by gift, devise, purchase, or condemnation by eminent domain proceedings, as the authority may deem necessary. The right of eminent domain herein conferred shall be exercised by the authority in the manner provided by law.

(2)  In connection with the acquisition of property or property rights as herein provided, the authority may, in its discretion, acquire an entire lot, block, or tract of land if, by so doing, the interests of the public will be best served, even though the entire lot, block, or tract is not immediately needed for the right-of-way proper.

History.--s. 1, ch. 83-289.

348.248  Cooperation with other units, boards, agencies, and individuals.--Express authority and power is given and granted to any county, municipality, drainage district, road and bridge district, school district, or other political subdivision, board, commission, or individual in or of this state to make and enter into contracts, leases, conveyances, or other agreements within the provisions and purposes of this part with the authority. The authority is expressly authorized to make and enter into contracts, leases, conveyances, and other agreements, to the extent consistent with chapters 334, 335, 338, and 339 and other provisions of the laws of this state and with 23 U.S.C. ss. 101 et seq., with any political subdivision, agency, or instrumentality of this state and any and all federal agencies, corporations, and individuals, for the purpose of carrying out the provisions of this part.

History.--s. 1, ch. 83-289; s. 114, ch. 99-385.

348.249  Covenant of the state.--The state does hereby pledge to, and agrees with, any person, firm, corporation, or federal or state agency subscribing to or acquiring the bonds to be issued by the authority for the purposes of this part that the state will not limit or alter the rights hereby vested in the authority and the department until all bonds at any time issued, together with the interest thereon, are fully paid and discharged, insofar as the same affects the rights of the holders of bonds issued hereunder. The state does further pledge to, and agrees with, the United States that, in the event any federal agency constructs, or contributes any funds for the completion, extension, or improvement of, the system or any part or portion thereof, the state will not alter or limit the rights and powers of the authority and the department in any manner which would be inconsistent with the continued maintenance and operation of the system or the completion, extension, or improvement thereof or which would be inconsistent with the due performance of any agreement between the authority and any such federal agency, and the authority and the department shall continue to have and may exercise all powers herein granted so long as the same shall be necessary or desirable for carrying out the purposes of this part and the purposes of the United States in the completion, extension, or improvement of the system or any part or portion thereof.

History.--s. 1, ch. 83-289.

348.25  Exemption from taxation.--The effectuation of the authorized purposes of the Broward County Expressway Authority is, shall be, and will be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions. Since the authority will perform essential governmental functions in effectuating such purposes, the authority shall not be required to pay any taxes or assessments of any kind or nature whatsoever upon any property acquired by it or used by it for such purposes or upon any revenues at any time received by it. The bonds issued on behalf of the authority, their transfer, and the income therefrom, including any profits made on the sale thereof, shall at all times be free from taxation of any kind by the state or by any political subdivision or other taxing agency or instrumentality thereof. The exemption granted by this section does not apply to any tax imposed under chapter 220 on interest, income, or profits on debt obligations owned by corporations.

History.--s. 1, ch. 86-189; s. 44, ch. 91-221.

348.50  Title of law.

348.51  Definitions.

348.52  Tampa-Hillsborough County Expressway Authority.

348.53  Purposes of the authority.

348.54  Powers of the authority.

348.545  Facility improvement; bond financing authority.

348.56  Bonds of the authority.

348.565  Revenue bonds for specified projects.

348.57  Refunding bonds.

348.58  Remedies.

348.59  Traffic control.

348.60  Lease-purchase agreements.

348.61  Department may be appointed agent of authority for construction.

348.62  Acquisition of lands and property.

348.63  Cooperation with other units, boards, agencies and individuals.

348.64  Covenant of the state.

348.65  Exemption from taxation.

348.66  Eligibility for investments and security.

348.67  Pledges enforceable for bondholders.

348.68  Consultation with Hillsborough County City-County Planning Commission.

348.681  Design standards.

348.70  This part complete and additional authority.

348.50  Title of law.--This part shall be known and may be cited as the "Tampa-Hillsborough County Expressway Authority Law."

History.--s. 1, ch. 63-447.

348.51  Definitions.--The following terms whenever used or referred to in this part shall have the following meanings, except in those instances where the context clearly indicates otherwise:

(1)  "Agency of the state" means and includes the state and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the state.

(2)  "Authority" means the body politic, corporate, and agency of the state created by this part.

(3)  "Bonds" means and includes the notes, bonds, refunding bonds, or other evidences of indebtedness or obligations, in either temporary or definitive form, of the authority issued pursuant to this part.

(4)  "City" means the City of Tampa.

(5)  "County" means the County of Hillsborough.

(6)  "Department" means the Department of Transportation of Florida and any successor thereto.

(7)  "Expressway system" or "system" means, generally, a modern highway system of roads, bridges, causeways, and tunnels in the metropolitan area of the city, or within any area of the county, with access limited or unlimited as the authority may determine, and such buildings and structures and appurtenances and facilities related thereto, including all approaches, streets, roads, bridges, and avenues of access for such system.

(8)  "Federal agency" means and includes the United States, the President of the United States, and any department of, or bureau, corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the United States.

(9)  "Hillsborough County gasoline tax funds" means all the 80-percent surplus gasoline tax funds or 20-percent surplus gasoline tax funds accruing in each year to the Department of Transportation or the county, as the case may be, for use in Hillsborough County under the provisions of s. 9, Art. XII of the State Constitution, after deduction, if and only to the extent necessary, of any amounts of said gasoline tax funds heretofore pledged by the Department of Transportation or the county for outstanding obligations.

(10)  "Lease-purchase agreement" or "lease-purchase agreements" means the lease-purchase agreement or agreements which the authority is authorized pursuant to this part to execute.

(11)  "Members" means the governing body of the authority, and the term "member" means one of the individuals constituting such governing body.

(12)  "Revenues" means all tolls, revenues, rates, fees, charges, receipts, rentals, contributions, and other income derived from or in connection with the operation or ownership of the expressway system, including the proceeds of any use and occupancy insurance on any portion of the system but excluding any Hillsborough County gasoline tax funds.

(13)  Words importing singular number include the plural number in each case and vice versa, and words importing persons include firms and corporations.

History.--s. 2, ch. 63-447; s. 18, ch. 69-216; s. 1, ch. 69-361; ss. 23, 35, ch. 69-106; s. 1, ch. 76-256.

348.52  Tampa-Hillsborough County Expressway Authority.--

(1)  There is hereby created and established a body politic and corporate, an agency of the state, to be known as the "Tampa-Hillsborough County Expressway Authority."

(2)  The governing body of the authority shall consist of a board of seven members.

(a)  Four of the members shall be appointed by the Governor subject to confirmation by the Senate at the next regular session of the Legislature. Refusal or failure of the Senate to confirm an appointment shall create a vacancy.

1.  Each such member's term of office shall be for 4 years or until his or her successor shall have been appointed and qualified.

2.  Vacancies occurring in the governing body for any such members prior to the expiration of the affected term shall be filled for the unexpired term.

3.  The Governor shall have the authority to remove from office any such member of the governing body in the manner and for cause defined by the laws of this state.

4.  Each such member, before entering upon his or her official duties, shall take and subscribe to an oath before some official authorized by law to administer oaths that he or she will honestly, faithfully, and impartially perform the duties devolving upon him or her in office as a member of the governing body of the authority and that he or she will not neglect any duties imposed upon him or her by this part.

(b)  One member shall be the mayor, or the mayor's designate, who shall be the chair of the city council of the city in Hillsborough County having the largest population, according to the latest decennial census, who shall serve as a member ex officio.

(c)  One member shall be a member of the Board of County Commissioners of Hillsborough County, selected by such board, who shall serve as a member ex officio.

(d)  One member shall be the district secretary of the Department of Transportation serving in the district that contains Hillsborough County, who shall serve ex officio.

(3)  The authority shall designate one of its members as chair. The members of the authority shall not be entitled to compensation but shall be entitled to receive their travel and other necessary expenses as provided in s. 112.061. A majority of the members of the authority shall constitute a quorum, and resolutions enacted or adopted by a vote of a majority of the members present and voting at any meeting shall become effective without publication or posting or any further action of the authority.

(4)  The authority may employ a secretary and executive director, its own counsel and legal staff, and such legal, financial, and other professional consultants, technical experts, engineers, and employees, permanent or temporary, as it may require and may determine the qualifications and fix the compensation of such persons, firms, or corporations. The authority may contract with the Division of Bond Finance of the State Board of Administration for any financial services authorized herein.

(5)  The authority may delegate to one or more of its officers or employees such of its powers as it shall deem necessary to carry out the purposes of this part, subject always to the supervision and control of the authority. Members of the authority may be removed from their office by the Governor for misconduct, malfeasance, misfeasance, and nonfeasance in office.

History.--s. 3, ch. 63-447; ss. 22, 35, ch. 69-106; s. 1, ch. 74-369; s. 1, ch. 87-549; s. 8, ch. 88-215; s. 289, ch. 92-279; s. 55, ch. 92-326; s. 54, ch. 95-143; s. 518, ch. 95-148.

348.53  Purposes of the authority.--The authority is created for the purposes and shall have power to construct, reconstruct, improve, extend, repair, maintain and operate the expressway system. It is hereby found and declared that such purposes are in all respects for the benefit of the people of the State of Florida, City of Tampa and the County of Hillsborough, for the increase of their pleasure, convenience and welfare, for the improvement of their health, to facilitate transportation for their recreation and commerce and for the common defense. The authority shall be performing a public purpose and a governmental function in carrying out its corporate purpose and in exercising the powers granted herein.

History.--s. 4, ch. 63-447.

348.54  Powers of the authority.--Except as otherwise limited herein, the authority shall have the power:

(1)  To sue and be sued, implead and be impleaded, complain and defend in all courts.

(2)  To adopt, use and alter at will, a seal.

(3)  To acquire, purchase, hold, lease as lessee and use any franchise, property, real, personal or mixed, tangible or intangible, or any interest therein, necessary or desirable for carrying out the purposes of the authority, and to sell, lease as lessor, transfer and dispose of any property or interest therein at any time acquired by it.

(4)  To construct, reconstruct or improve on or along the system suitable facilities for gas stations, restaurants and other facilities for the public; such facilities may be publicly offered for leasing for operation under rules and regulations to be established by the authority.

(5)  To enter into and make lease-purchase agreements as provided in s. 348.60 for terms not exceeding 40 years, or until all bonds secured by a pledge thereunder, and all refundings thereof, are fully paid as to both principal and interest, whichever is longer.

(6)  To fix, alter, charge, establish and collect tolls, rates, fees, rentals and other charges for the services and facilities of the expressway system, which tolls, rates, fees, rentals and other charges shall always be sufficient to comply with any covenants made with the holders of any bonds; provided, however, that such right and power, or any part thereof may be assigned or delegated, by the authority, to the lessee under a lease-purchase agreement.

(7)  To borrow money and issue negotiable bonds, and to provide for the rights of the holders thereof.

(8)  To secure the payment of bonds by a pledge of all or any portion of the revenues or such other moneys legally available therefor and of all or any portion of the Hillsborough County gasoline tax funds in the manner provided by this part; and in general to provide for the security of the bonds and the rights and remedies of the holders thereof. Interest upon the amount of gasoline tax funds to be repaid to the county pursuant to s. 348.60 shall be payable, at the highest rate applicable to any outstanding bonds of the authority, out of revenues and other available moneys not required to meet the authority's obligations to its bondholders.

(9)  To make contracts of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business.

(10)  Without limitation of the foregoing, to borrow money and accept gifts or grants from, and to enter into contracts, leases or other transactions with any federal agency, the state, any agency of the state, the county, the city or with any other public body of the state or any other person and to comply with the terms and conditions thereof.

(11)  To have the power of eminent domain.

(12)  To construct and maintain over, under, along, or across the system, telephone, telegraph, television, electric power and other wires or cables, pipelines, water mains and other conduits and mechanical equipment, not inconsistent with the appropriate use of the system, or to contract for such construction; and upon such terms and conditions as the authority shall determine, to lease all or any part of such property and facilities or the right to use the same whether such facilities are constructed by the authority or under a contract for such construction, for a period of not more than 20 years from the date when such lease is made.

(13)  To do all acts and things necessary or convenient for the conduct of its business and the general welfare of the authority, in order to carry out the powers granted to it by this part or any other law.

(14)  Prior to entering into any sale, lease, transfer or disposition of its real properties pursuant to subsection (3), leasing any of its facilities pursuant to subsection (4), or taking final action under subsection (7), the authority shall give notice thereof by publication on at least five separate days, in a newspaper of general circulation in the county. Such notice shall state the place and time, not less than 14 days following the first such publication, when objections may be filed with and heard by the authority.

History.--s. 5, ch. 63-447.

348.545  Facility improvement; bond financing authority.--Pursuant to s. 11(f), Art. VII of the State Constitution, the Legislature hereby approves for bond financing by the Tampa-Hillsborough County Expressway Authority improvements to toll collection facilities, interchanges to the legislatively approved expressway system, and any other facility appurtenant, necessary, or incidental to the approved system. Subject to terms and conditions of applicable revenue bond resolutions and covenants, such financing may be in whole or in part by revenue bonds currently issued or issued in the future, or by a combination of such bonds.

History.--s. 91, ch. 2002-20.

348.56  Bonds of the authority.--

(1)  The authority shall have the power and is hereby authorized from time to time to issue bonds in such principal amount as, in the opinion of the authority, shall be necessary to provide sufficient moneys for achieving its corporate purposes, including construction, reconstruction, improvement, extension, repair, maintenance and operation of the expressway system, the cost of acquisition of all real property, interest on bonds during construction and for a reasonable period thereafter, establishment of reserves to secure bonds, and all other expenditures of the authority incident to and necessary or convenient to carry out its corporate purposes and powers.

(2)(a)  Bonds shall be authorized by resolution of the members of the authority and shall bear such date or dates, mature at such time or times, not exceeding 40 years from their respective dates, bear interest at such rate or rates, not exceeding the maximum rate fixed by general law for authorities, be in such denominations, be in such form, either coupon or fully registered, carry such registration, exchangeability and interchangeability privileges, be payable in such medium of payment and at such place or places, be subject to such terms of redemption and be entitled to such priorities of lien on the revenues, other available moneys, and the Hillsborough County gasoline tax funds as such resolution or any resolution subsequent thereto may provide. The bonds shall be executed either by manual or facsimile signature by such officers as the authority shall determine, provided that such bonds shall bear at least one signature which is manually executed thereon. The coupons attached to such bonds shall bear the facsimile signature or signatures of such officer or officers as shall be designated by the authority. Such bonds shall have the seal of the authority affixed, imprinted, reproduced, or lithographed thereon.

(b)  The bonds shall be sold at public sale, and the net interest cost to the authority on such bonds shall not exceed the maximum rate fixed by general law for authorities. If all bids received on the public sale are rejected, the authority may then proceed to negotiate for the sale of the bonds at a net interest cost which shall be less than the lowest net interest cost stated in the bids rejected at the public sale. Pending the preparation of definitive bonds, temporary bonds or interim certificates may be issued to the purchaser or purchasers of such bonds and may contain such terms and conditions as the authority may determine.

(3)  Any such resolution or resolutions authorizing any bonds may contain provisions which shall be part of the contract with the holders of such bonds, as to:

(a)  The pledging of all or any part of the revenues, the Hillsborough County gasoline tax funds, or other moneys lawfully available therefor.

(b)  The construction, reconstruction, improvement, extension, repair, maintenance, operation, lease or lease-purchase of the expressway system, or any part or parts thereof, and the duties and obligations of the authority and others, including the department, with reference thereto.

(c)  Limitations on the purposes to which the proceeds of the bonds, then or thereafter to be issued, or of any loan or grant by any federal agency or the state or any political subdivision thereof may be applied.

(d)  The fixing, charging, establishing, revising, increasing, reducing and collecting of tolls, rates, fees, rentals, or other charges for use of the services and facilities of the expressway system or any part thereof.

(e)  The setting aside of reserves or of sinking funds and the regulation and disposition thereof.

(f)  Limitations on the issuance of additional bonds.

(g)  The terms and provisions of any lease-purchase agreement, deed of trust or indenture securing the bonds, or under which same may be issued.

(h)  Any other or additional matters, of like or different character, which in any way affect the security or protection of the bonds.

(4)  The authority may enter into any deeds of trust, indentures or other agreements with any bank or trust company within or without the state, as security for such bonds, and may, under such agreements, assign and pledge all or any of the revenues and other available moneys, including all or any portion of the Hillsborough County gasoline tax funds, pursuant to the terms of this part. Such deed of trust, indenture or other agreement, may contain such provisions as are customary in such instruments or as the authority may authorize, including, but without limitation, provisions as to:

(a)  The pledging of all or any part of the revenues, the Hillsborough County gasoline tax funds, or other moneys lawfully available therefor.

(b)  The application of funds and the safeguarding of funds on hand or on deposit.

(c)  The rights and remedies of the trustee and the holders of the bonds.

(d)  The terms and provisions of the bonds or the resolutions authorizing the issuance of the same.

(e)  Any other or additional matters, of like or different character, which in any way affect the security or protection of the bonds.

(5)  Any of the bonds issued pursuant to this part are, and are hereby declared to be, negotiable instruments, and shall have all the qualities and incidents of negotiable instruments under the law merchant and the negotiable instruments law of the state.

(6)  It is the intention hereof that any pledge made by the authority shall be valid and binding from the time when the pledge is made; that the moneys so pledged and thereafter received by the authority shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and that the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the authority irrespective of whether such parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded.

(7)  Neither the members nor any person executing the bonds shall be liable personally on the bonds or be subject to any personal liability or accountability by reason of the issuance thereof.

(8)  The authority shall have power out of any funds available therefor to purchase bonds, which shall thereupon be canceled, at a price not exceeding, if the bonds are then redeemable, the redemption price then applicable plus accrued interest to the next date of redemption thereof, or if the bonds are not then redeemable, the redemption price applicable on the first date after such purchase upon which the bonds become subject to redemption plus accrued interest to said date.

History.--s. 7, ch. 63-447; s. 1, ch. 68-120; ss. 23, 35, ch. 69-106; s. 1, ch. 70-260.

348.565  Revenue bonds for specified projects.--The existing facilities that constitute the Tampa-Hillsborough County Expressway System are hereby approved to be refinanced by the issuance of revenue bonds by the Division of Bond Finance of the State Board of Administration pursuant to s. 11(f), Art. VII of the State Constitution. In addition, the following projects of the Tampa-Hillsborough County Expressway Authority are approved to be financed or refinanced by the issuance of revenue bonds pursuant to s. 11(f), Art. VII of the State Constitution:

(1)  Brandon area feeder roads.

(2)  Capital improvements to the expressway system, including safety and operational improvements and toll collection equipment.

(3)  Lee Roy Selmon Crosstown Expressway System widening.

(4)  The connector highway linking the Lee Roy Selmon Crosstown Expressway to Interstate 4.

History.--s. 28, ch. 97-280; s. 58, ch. 2000-152; s. 92, ch. 2002-20.

348.57  Refunding bonds.--

(1)  Subject to public notice as provided in s. 348.54, the authority is authorized to provide by resolution for the issuance from time to time of bonds for the purpose of refunding any bonds then outstanding. The authority is further authorized to provide by resolution for the issuance of bonds for the combined purpose of:

(a)  Paying the cost of constructing, reconstructing, improving, extending, repairing, maintaining and operating the expressway system.

(b)  Refunding bonds then outstanding. The authorization, sale and issuance of such obligations, the maturities and other details thereof, the rights and remedies of the holders thereof, and the rights, powers, privileges, duties and obligations of the authority with respect to the same shall be governed by the foregoing provisions of this part insofar as the same may be applicable.

(2)  In the event that the authority shall determine to issue bonds for the purpose of refunding any outstanding bonds prior to the maturity thereof, the proceeds of such refunding bonds may, pending the redemption of the bonds to be refunded, be invested in direct obligations of the United States. It is the express intention of this part that outstanding bonds may be refunded and retired by and upon the issuance of bonds notwithstanding that all or a portion of such outstanding bonds will not mature or become redeemable until after the date of issuance of such refunding bonds.

History.--s. 8, ch. 63-447.

348.58  Remedies.--

(1)  The rights and the remedies herein conferred upon or granted to the bondholders shall be in addition to and not in limitation of any rights and remedies lawfully granted to such bondholders by the resolution or resolutions or indenture providing for the issuance of bonds, or by any lease-purchase agreement, deed of trust, indenture or other agreement under which the bonds may be issued or secured. In the event that the authority shall default in the payment of the principal of or interest on any of the bonds issued pursuant to the provisions of this part after such principal of or interest on the bonds shall have become due, whether at maturity or upon call for redemption, as provided in said resolution or indenture, or the lessee shall default in any payments under, or covenants made in, any lease-purchase agreement and such default shall continue for a period of 30 days, or in the event that the authority or the lessee shall fail or refuse to comply with the provisions of this part or any agreement made with, or for the benefit of, the holders of the bonds, the holders of 25 percent in aggregate principal amount of the bonds then outstanding shall be entitled as of right to the appointment of a trustee to represent such bondholders for the purposes hereof; provided, however, that such holders of 25 percent in aggregate principal amount of the bonds then outstanding shall have first given written notice of their intention to appoint a trustee, to the authority and to such lessee.

(2)  Such trustee, and any trustee under any deed of trust, indenture or other agreement, may, and upon written request of the holders of 25 percent, or such other percentages as may be specified in any deed of trust, indenture or other agreement aforesaid, in principal amount of the bonds then outstanding, shall, in any court of competent jurisdiction, in his, her, or its own name:

(a)  By mandamus or other suit, action or proceeding at law, or in equity, enforce all rights of the bondholders, including the right to require the authority to fix, establish, maintain, collect and charge rates, fees, rentals, and other charges, adequate to carry out any agreement as to, or pledge of, the revenues, and to require the authority to carry out any other covenants and agreements with or for the benefit of the bondholders, and to perform its and their duties under this part.

(b)  By mandamus or other suit, action or proceeding at law, or in equity, enforce all rights of the bondholders under or pursuant to any lease-purchase agreement, including the right to require the lessee to make all rental payments required to be made by it under the provisions of any such lease-purchase agreement, whether from the Hillsborough County gasoline tax funds or other funds so agreed to be paid and to require the lessee to carry out any other covenants and agreements with or for the benefit of the bondholders and to perform its and their duties under this part.

(c)  Bring suit upon the bonds.

(d)  By action or suit in equity require the authority or any lessee under any lease-purchase agreement to account as if it were the trustee of an express trust for the bondholders.

(e)  By action or suit in equity enjoin any acts or things which may be unlawful or in violation of the rights of the bondholders.

(3)  Any trustee when appointed as aforesaid, or acting under a deed of trust, indenture or other agreement, and whether or not all bonds have been declared due and payable, shall be entitled as of right to the appointment of a receiver, who may enter upon and take possession of the system or the facilities or any part or parts thereof, the revenues and other pledged moneys and, subject to and in compliance with the provisions of any lease-purchase agreement, operate and maintain the same, for and on behalf of and in the name of, the authority, the lessee and the bondholders, and collect and receive all revenues and other pledged moneys in the same manner as the authority or the lessee might do, and shall deposit all such revenues and moneys in a separate account and apply the same in such manner as the court shall direct. In any suit, action or proceeding by the trustee, the fees, counsel fees, and expenses of the trustee, and said receiver, if any, and all costs and disbursements allowed by the court shall be a first charge on any revenues. Such trustee shall, in addition to the foregoing, have and possess all of the powers necessary or appropriate for the exercise of any functions specifically set forth herein or incident to the representation of the bondholders in the enforcement and protection of their rights.

(4)  Nothing in this section or any other section of this part shall authorize any receiver appointed pursuant hereto for the purpose, subject to and in compliance with the provisions of any lease-purchase agreement, of operating and maintaining the system or any facilities or part or parts thereof, to sell, assign, mortgage or otherwise dispose of any of the assets of whatever kind and character belonging to the authority. It is the intention of this part to limit the powers of such receiver, subject to and in compliance with the provisions of any lease-purchase agreement, to the operation and maintenance of the system, or any facility or part or parts thereof, as the court may direct, in the name and for and on behalf of the authority, the lessee and the bondholders, and no holder of bonds nor any trustee, shall ever have the right in any suit, action or proceeding at law, or in equity, to compel a receiver, nor shall any receiver be authorized or any court be empowered to direct the receiver, to sell, assign, mortgage or otherwise dispose of any assets of whatever kind or character belonging to the authority.

History.--s. 9, ch. 63-447; s. 519, ch. 95-148.

348.59  Traffic control.--

(1)  In addition to the powers conferred by the statutes of the state and the ordinances of the city, the authority is hereby authorized to promulgate such rules and regulations for the use and occupancy of the expressway system as may be necessary and proper for the public safety and convenience, for the preservation of its property and for the collection of tolls.

(2)  The enforcement of the rules and regulations of the authority and of those provisions of the statutes and ordinances applicable to the expressway system may be by the city police department and sheriff of Hillsborough County; provided, however, that at the request of the authority, such enforcement shall also be the duty of the Florida Highway Patrol. Violators shall be apprehended and prosecuted in the same manner as provided for the apprehension and prosecution of violators of such statutes and ordinances who commit violations thereof upon streets, roads and thoroughfares in the state.

History.--s. 10, ch. 63-447.

348.60  Lease-purchase agreements.--

(1)  In order to effectuate the purposes of this part, the authority may enter into lease-purchase agreements with the city, the county, the state or any agency thereof, including the department, and any federal agency relating to and covering the expressway system or any portion thereof.

(2)  Such lease-purchase agreements may provide for the leasing of the expressway system or any portion thereof by the authority as lessor to any one or more of the aforementioned governmental entities or agencies as lessee, shall prescribe the term of such lease and the rentals to be paid thereunder, and may provide that upon the completion of the faithful performance thereunder and the termination of such lease-purchase agreements, title in fee simple absolute to the expressway system, as then constituted, shall be transferred in accordance with law by the authority to such lessee or otherwise as provided in such agreements. In the event of such transfer to the lessee, the authority shall deliver to such lessee such deeds and conveyances as shall be necessary or convenient to vest title in fee simple absolute in such lessee.

(3)  The lease-purchase agreements may include such other provisions, agreements and covenants as the authority and the lessee deem advisable or necessary, including but not limited to provisions with respect to bonds, the construction, reconstruction, extension, improvements, operation, repair, and maintenance of the expressway system, the expenses and costs of operation of the system and of the authority, the charging and collecting of tolls, rates, fees and other charges for the use of the services and facilities thereof, the application of federal, state or other grants or aid which may be made or given to assist the authority, the enforcement of payment and collection of rentals and any other terms, provisions or covenants necessary, incidental or convenient to the making of and full performance under such lease-purchase agreements.

(a)  In the event the department is a lessee under any such lease-purchase agreement, it is authorized to pay as rentals thereunder in addition to the revenues accruing thereto from the operation of the expressway system, all or any portion of the Hillsborough County gasoline tax funds and may also pay as rentals any appropriations received by the department pursuant to any act of the Legislature heretofore or hereafter enacted; provided, however, that nothing herein nor in such lease-purchase agreement shall be construed to require the Legislature to make or continue such appropriations nor shall any holder of bonds ever have any right to require the Legislature to make or continue such appropriations.

(b)  In the event the county is a lessee under any such lease-purchase agreement, it shall be authorized to pay as rentals thereunder in addition to the revenues accruing to the county from the operation of the expressway system all or any part of the 20-percent surplus gasoline tax funds accruing to Hillsborough County.

(4)  No pledge of either the 80-percent surplus gasoline tax funds or the 20-percent surplus gasoline tax funds under any such lease-purchase agreement shall be made without the consent of the county evidenced by a resolution duly adopted by its board of county commissioners, nor unless the revenues pledged under any such lease-purchase agreements are estimated by the authority to aggregate during the term of such lease-purchase agreements not less than the principal amount of the bonds secured thereunder plus interest thereon. Such resolution, among other things shall provide that any excess of such pledge of the Hillsborough County gasoline tax funds which is not required for debt service or reserves for such debt service for any bonds shall be returned annually to the appropriate board or agency for distribution to the county as provided by law; and shall provide, further, that any Hillsborough County gasoline tax funds actually expended for such debt service, shall be repaid with interest out of revenues and other available moneys not required to meet the authority's obligations to its bondholders, as determined by the authority.

(5)  Any lessee under such lease-purchase agreements shall have power to covenant therein that it will pay all or any part of the cost of the operation, maintenance, repair, renewal and replacement of the expressway system, and any part of the cost of completing such system, to the extent that the proceeds of bonds issued therefor are insufficient, from sources other than revenues and Hillsborough County gasoline tax funds. Any such lessee may also agree to make such other payments from moneys available to the county, the city, the authority or the department in connection with the construction or completion of such system as shall be deemed by such lessee to be fair and proper under any such covenants heretofore or hereafter entered into.

(6)  The system shall be a part of the state road system. The department is hereby authorized, upon request of the authority, to expend out of any funds available for the purpose, such moneys, and to use such of its engineering or other forces, as may be necessary and desirable in the judgment of the department, for the operation of the authority and for traffic surveys, borings, surveys, preparation of plans and specifications, estimates of costs, preliminary engineering and other studies.

History.--s. 11, ch. 63-447; ss. 23, 35, ch. 69-106; s. 133, ch. 92-152.

348.61  Department may be appointed agent of authority for construction.--The department may be appointed by the authority as its agent for the purpose of constructing, reconstructing, improving, extending or repairing the expressway system. In such event, the authority shall provide the department with complete copies of all documents, agreements, resolutions, contracts and instruments relating thereto and shall request the department to do such construction work including the planning, surveying and actual construction involved and shall transfer to the credit of an account of the department in the Treasury of the state the necessary funds therefor. The department shall thereupon be authorized, empowered and directed to proceed with such construction work and to use the said funds for such purpose and in the same manner that it is now authorized to use the funds otherwise authorized by law for its use in construction of roads and bridges.

History.--s. 12, ch. 63-447; ss. 23, 35, ch. 69-106.

348.62  Acquisition of lands and property.--

(1)  For the purpose of this part, the authority may acquire private or public property and property rights including rights of access, air, view and light by gift, devise, purchase or condemnation by eminent domain proceedings, as the authority may deem necessary for any of the purposes of this part. The right of eminent domain herein conferred shall be exercised by the authority in the manner provided by law, in particular chapter 74.

(2)  The authority may acquire such rights, title, interest or easements in such lands and property as it may deem necessary for any of the purposes of this part.

(3)  In connection with the acquisition of property or property rights as herein provided, the authority may in its discretion, acquire an entire lot, block, parcel or tract of land, if by so doing the interest of the public will be best served, even though such entire lot, block, parcel or tract is not immediately needed for the right-of-way proper.

History.--s. 13, ch. 63-447.

348.63  Cooperation with other units, boards, agencies and individuals.--Express authority and power is hereby given and granted any county, municipality, drainage district, road and bridge district, school district or any other political subdivision, board, authority, corporation or individual in or of the state to make and enter into with the authority, contracts, leases, conveyances or other agreements within the provisions and purposes of this part. The authority is hereby expressly authorized to make and enter into contracts, leases, conveyances and other agreements with any political subdivision, agency or instrumentality of the state and any and all federal agencies, corporations and individuals for the purpose of carrying out the provisions of this part.

History.--s. 14, ch. 63-447.

348.64  Covenant of the state.--The state does hereby pledge to and agree with the holders from time to time of the bonds that the state will not limit or alter the rights hereby vested in the authority, the department, the county and the city to collect revenues and Hillsborough County gasoline tax funds and to fulfill the terms of any agreements made with the holders of bonds or to in any way impair the rights and remedies of such holders until such bonds and the interest due thereon have been paid. The state does further pledge to and agree with the United States and any federal agency that in the event any federal agency shall construct or contribute funds for the construction, reconstruction, extension or improvement of the system or any part thereof the state will not alter or limit the rights of the authority, the department, the county or the city in any manner which would be inconsistent with the continued maintenance or operation of the system or the construction, reconstruction, extension or improvement thereof and which would be inconsistent with the due performance of any agreements between the authority and any such federal agency. The authority, the department, the county and the city shall continue to have and may exercise all powers herein granted so long as the same shall be necessary or desirable for the carrying out of the purposes of this part.

History.--s. 15, ch. 63-447; ss. 23, 35, ch. 69-106.

348.65  Exemption from taxation.--The effectuation of the authorized purposes of the authority created under this part is, shall and will be in all respects for the benefit of the people of the state for the increase of their commerce, prosperity and for the improvement of their health and living conditions. Since the authority will perform essential governmental functions in effectuating such purpose, the authority shall not be required to pay any taxes or assessments of any kind or nature whatsoever upon any property acquired or used by it for such purposes or upon any revenues at any time received by it. The bonds, their transfer and the income therefrom, including any profits made on the sale thereof, shall at all times be free from taxation of any kind by the state or by any political subdivision or other taxing agency or instrumentality thereof. The exemption granted by this section shall not be applicable to any tax imposed by chapter 220 on interest, income, or profits on debt obligations owned by corporations.

History.--s. 16, ch. 63-447; s. 11, ch. 73-327.

348.66  Eligibility for investments and security.--The bonds shall be and constitute legal investments for banks, savings banks, trustees, executors, administrators and all other fiduciaries and for all state, municipal and other public funds and shall also be and constitute securities eligible for deposit as security for all state, municipal or other public funds notwithstanding the provisions of any other law or laws to the contrary.

History.--s. 17, ch. 63-447.

348.67  Pledges enforceable for bondholders.--It is the express intention of this part that any pledge of revenues, Hillsborough County gasoline tax funds or other funds either as rentals to the authority or for the payment of the principal of and interest on bonds, or any covenant or agreement relative thereto may be enforceable in any court of competent jurisdiction against the authority or directly against the department, the county or the city, as may be appropriate.

History.--s. 18, ch. 63-447; ss. 23, 35, ch. 69-106.

348.68  Consultation with Hillsborough County City-County Planning Commission.--In determining the route or routes, and the design and type of construction in connection with constructing the expressway system or any extension thereof, consideration shall be given by the authority to the comprehensive plans and the economic needs of the city and county and the usage for which the properties abutting thereon is best suited. In the furtherance of this purpose, the authority shall consult with the Hillsborough County City-County Planning Commission, hereinafter referred to as the commission. The authority may employ a firm of nationally recognized consultants and traffic engineers and the traffic engineers of the Florida Department of Transportation. In conducting their studies and in preparing surveys and estimates in connection with the location of the route or routes and with such construction, the consultants and traffic engineers shall consult with the commission for the purpose of considering any traffic studies, the comprehensive plan and other pertinent information which the commission may have available. After the studies and recommendations of the authority's traffic engineers, consulting engineers, and other advisers have been made, the authority shall transmit such studies and recommendations to the commission. The commission, within 45 days after receipt thereof, shall transmit to the authority its written recommendations as to the consistency of such proposed route or routes with the adopted comprehensive plan or element or portion thereof. The authority shall thereafter hold a public hearing, on at least 10 days' notice which shall be published in a newspaper designated by the authority and of general circulation in Hillsborough County, at which all interested persons may be heard with respect to the recommended route or routes or alternate routes of the expressway system. After such public hearing, the authority shall by resolution determine the route or routes of the expressway system or any extension thereof. However, the commission may request additional review of the approved route or routes for the purpose of commenting on continued consistency with the adopted comprehensive plan, element, or portion thereof if:

(1)  Within 5 years of approval of the route or routes, the authority does not reserve or acquire the proposed rights-of-way within the route or routes as provided by s. 337.27; or

(2)  The authority reserves or acquires rights-of-way under s. 337.27, but fails to comply with the statutory requirements for land acquisition or design commencement or completion.

If an additional review is requested, the commission shall conduct its review and transmit its recommendations within 45 days.

History.--s. 19, ch. 63-447; s. 2, ch. 87-218; s. 109, ch. 92-152.

348.681  Design standards.--The geometric design standards used in connection with constructing the expressway system or any extension thereof shall as nearly as is practicable follow or be superior to design standards adopted for the National System of Interstate and Defense Highways.

History.--s. 1, ch. 65-555; s. 1, ch. 65-556.

348.70  This part complete and additional authority.--The powers conferred by this part shall be in addition and supplemental to the existing respective powers of the authority, the department, the county and the city, if any, and this part shall not be construed as repealing any of the provisions of any other law, general, special or local, but shall be deemed to supersede such other law or laws in the exercise of the powers provided in this part insofar as such other law or laws are inconsistent with the provisions of this part and to provide a complete method for the exercise of the powers granted herein. The construction, reconstruction, improvement, extension, repair, maintenance and operation of the expressway system, and the issuance of bonds hereunder to finance all or part of the cost thereof, may be accomplished upon compliance with the provisions of this part without regard to or necessity for compliance with the provisions, limitations, or restrictions contained in any other general, special or local law, and no approval of any bonds issued under this part by the qualified electors or qualified electors who are freeholders in the state or in the county or in the city or in any other political subdivision of the state shall be required for the issuance of such bonds.

History.--s. 21, ch. 63-447; ss. 23, 35, ch. 69-106.

348.751  Short title.

348.752  Definitions.

348.753  Orlando-Orange County Expressway Authority.

348.754  Purposes and powers.

348.7543  Improvements, bond financing authority for.

348.7544  Northwest Beltway Part A, construction authorized; financing.

348.7545  Western Beltway Part C, construction authorized; financing.

348.755  Bonds of the authority.

348.756  Remedies of the bondholders.

348.757  Lease-purchase agreement.

348.758  Department may be appointed agent of authority for construction.

348.759  Acquisition of lands and property.

348.760  Cooperation with other units, boards, agencies, and individuals.

348.761  Covenant of the state.

348.762  Exemption from taxation.

348.763  Eligibility for investments and security.

348.764  Pledges enforceable by bondholders.

348.765  This part complete and additional authority.

348.751  Short title.--This part shall be known and may be cited as the "Orlando-Orange County Expressway Authority Law."

History.--s. 1, ch. 63-573.

Note.--Former s. 348.0100.

348.752  Definitions.--The following terms, whenever used or referred to in this law, shall have the following meanings, except in those instances where the context clearly indicates otherwise:

(1)  The term "agency of the state" means and includes the state and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the state.

(2)  The term "authority" means the body politic and corporate, and agency of the state created by this part.

(3)  The term "bonds" means and includes the notes, bonds, refunding bonds, or other evidences of indebtedness or obligations, in either temporary or definitive form, which the authority is authorized to issue pursuant to this part.

(4)  The term "city" means the City of Orlando.

(5)  The term "county" means the County of Orange.

(6)  The term "department" means the Department of Transportation existing under chapters 334-339.

(7)  The term "expressway" is the same as limited access expressway.

(8)  The term "federal agency" means and includes the United States, the President of the United States, and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the United States.

(9)  The term "lease-purchase agreement" means the lease-purchase agreements which the authority is authorized pursuant to this part to enter into with the Department of Transportation.

(10)  The term "limited access expressway" means a street or highway especially designed for through traffic, and over, from, or to which, no person shall have the right of easement, use, or access except in accordance with the rules and regulations promulgated and established by the authority for the use of such facility. Such highways or streets may be parkways, from which trucks, buses, and other commercial vehicles shall be excluded, or they may be freeways open to use by all customary forms of street and highway traffic.

(11)  The term "members" means the governing body of the authority, and the term "member" means one of the individuals constituting such governing body.

(12)  The term "Orange County gasoline tax funds" means all the 80-percent surplus gasoline tax funds accruing in each year to the Department of Transportation for use in Orange County under the provisions of s. 9, Art. XII of the State Constitution, after deduction only of any amounts of said gasoline tax funds heretofore pledged by the department or the county for outstanding obligations.

(13)  The term "Orlando-Orange County Expressway System" means any and all expressways and appurtenant facilities thereto, including, but not limited to, all approaches, roads, bridges, and avenues of access for said expressway or expressways.

(14)  The term "State Board of Administration" means the body corporate existing under the provisions of s. 9, Art. XII of the State Constitution, or any successor thereto.

(15)  Words importing singular number include the plural number in each case and vice versa, and words importing persons include firms and corporations.

History.--s. 2, ch. 63-573; s. 18, ch. 69-216; ss. 23, 35, ch. 69-106; s. 126, ch. 71-377.

Note.--Former s. 348.0101.

348.753  Orlando-Orange County Expressway Authority.--

(1)  There is hereby created and established a body politic and corporate, an agency of the state, to be known as the Orlando-Orange County Expressway Authority, hereinafter referred to as "authority."

(2)  The governing body of the authority shall consist of five members. Three members shall be citizens of Orange County, who shall be appointed by the Governor. The fourth member shall be, ex officio, the chair of the County Commissioners of Orange County, and the fifth member shall be, ex officio, the district secretary of the Department of Transportation serving in the district that contains Orange County. The term of each appointed member shall be for 4 years. Each appointed member shall hold office until his or her successor has been appointed and has qualified. A vacancy occurring during a term shall be filled only for the balance of the unexpired term. Each appointed member of the authority shall be a person of outstanding reputation for integrity, responsibility, and business ability, but no person who is an officer or employee of any city or of Orange County in any other capacity shall be an appointed member of the authority. Any member of the authority shall be eligible for reappointment.

(3)(a)  The authority shall elect one of its members as chair of the authority. The authority shall also elect a secretary and a treasurer who may or may not be members of the authority. The chair, secretary, and treasurer shall hold such offices at the will of the authority. Three members of the authority shall constitute a quorum, and the vote of three members shall be necessary for any action taken by the authority. No vacancy in the authority shall impair the right of a quorum of the authority to exercise all of the rights and perform all of the duties of the authority.

(b)  Upon the effective date of his or her appointment, or as soon thereafter as practicable, each appointed member of the authority shall enter upon his or her duties.

(4)(a)  The authority may employ an executive secretary, an executive director, its own counsel and legal staff, technical experts, such engineers, and such employees, permanent or temporary, as it may require and may determine the qualifications and fix the compensation of such persons, firms, or corporations and may employ a fiscal agent or agents, provided, however, that the authority shall solicit sealed proposals from at least three persons, firms, or corporations for the performance of any services as fiscal agents. The authority may delegate to one or more of its agents or employees such of its power as it shall deem necessary to carry out the purposes of this part, subject always to the supervision and control of the authority. Members of the authority may be removed from their office by the Governor for misconduct, malfeasance, misfeasance, or nonfeasance in office.

(b)  Members of the authority shall be entitled to receive from the authority their travel and other necessary expenses incurred in connection with the business of the authority as provided in s. 112.061, but they shall draw no salaries or other compensation.

History.--s. 3, ch. 63-573; s. 9, ch. 88-215; s. 520, ch. 95-148; s. 16, ch. 97-100.

Note.--Former s. 348.0102.

348.754  Purposes and powers.--

(1)(a)  The authority created and established by the provisions of this part is hereby granted and shall have the right to acquire, hold, construct, improve, maintain, operate, own and lease in the capacity of lessor, the Orlando-Orange County Expressway System hereinafter referred to as "system."

(b)  It is the express intention of this part that said authority, in the construction of said Orlando-Orange County Expressway System, shall be authorized to construct any extensions, additions or improvements to said system or appurtenant facilities, including all necessary approaches, roads, bridges and avenues of access, with such changes, modifications or revisions of said project as shall be deemed desirable and proper.

(2)  The authority is hereby granted, and shall have and may exercise all powers necessary, appurtenant, convenient or incidental to the carrying out of the aforesaid purposes, including, but without being limited to, the following rights and powers:

(a)  To sue and be sued, implead and be impleaded, complain and defend in all courts.

(b)  To adopt, use and alter at will a corporate seal.

(c)  To acquire by donation or otherwise, purchase, hold, lease as lessee and use any franchise, property, real, personal or mixed, tangible or intangible, or any options thereof in its own name or in conjunction with others, or interest therein, necessary or desirable for carrying out the purposes of the authority, and to sell, lease as lessor, transfer and dispose of any property or interest therein at any time acquired by it.

(d)  To enter into and make leases for terms not exceeding 40 years, as either lessee or lessor, in order to carry out the right to lease as set forth in this part.

(e)  To enter into and make lease-purchase agreements with the department for terms not exceeding 40 years, or until any bonds secured by a pledge of rentals thereunder, and any refundings thereof, are fully paid as to both principal and interest, whichever is longer.

(f)  To fix, alter, charge, establish and collect rates, fees, rentals, and other charges for the services and facilities of the Orlando-Orange County Expressway System, which rates, fees, rentals and other charges shall always be sufficient to comply with any covenants made with the holders of any bonds issued pursuant to this part; provided, however, that such right and power may be assigned or delegated, by the authority, to the department.

(g)  To borrow money, make and issue negotiable notes, bonds, refunding bonds, and other evidences of indebtedness or obligations, either in temporary or definitive form, hereinafter in this chapter sometimes called "bonds" of the authority, for the purpose of financing all or part of the improvement or extension of the Orlando-Orange County Expressway System, and appurtenant facilities, including all approaches, streets, roads, bridges and avenues of access for said Orlando-Orange County Expressway System and for any other purpose authorized by this part, said bonds to mature in not exceeding 40 years from the date of the issuance thereof, and to secure the payment of such bonds or any part thereof by a pledge of any or all of its revenues, rates, fees, rentals or other charges, including all or any portion of the Orange County gasoline tax funds received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department; and in general to provide for the security of said bonds and the rights and remedies of the holders thereof. Provided, however, that no portion of the Orange County gasoline tax funds shall be pledged for the construction of any project for which a toll is to be charged unless the anticipated tolls are reasonably estimated by the board of county commissioners, at the date of its resolution pledging said funds, to be sufficient to cover the principal and interest of such obligations during the period when said pledge of funds shall be in effect.

1.  The authority shall reimburse Orange County for any sums expended from said gasoline tax funds used for the payment of such obligations. Any gasoline tax funds so disbursed shall be repaid when the authority deems it practicable, together with interest at the highest rate applicable to any obligations of the authority.

2.  In the event the authority shall determine to fund or refund any bonds theretofore issued by said authority, or by said commission as aforesaid prior to the maturity thereof, the proceeds of such funding or refunding bonds shall, pending the prior redemption of the bonds to be funded or refunded, be invested in direct obligations of the United States, and it is the express intention of this part that such outstanding bonds may be funded or refunded by the issuance of bonds pursuant to this part.

(h)  To make contracts of every name and nature, including, but not limited to, partnerships providing for participation in ownership and revenues, and to execute all instruments necessary or convenient for the carrying on of its business.

(i)  Without limitation of the foregoing, to borrow money and accept grants from, and to enter into contracts, leases or other transactions with any federal agency, the state, any agency of the state, the County of Orange, the City of Orlando or with any other public body of the state.

(j)  To have the power of eminent domain, including the procedural powers granted under both chapters 73 and 74.

(k)  To pledge, hypothecate or otherwise encumber all or any part of the revenues, rates, fees, rentals or other charges or receipts of the authority, including all or any portion of the Orange County gasoline tax funds received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department, as security for all or any of the obligations of the authority.

(l)  To enter into partnership and other agreements respecting ownership and revenue participation in order to facilitate financing and constructing the Western Beltway, or portions thereof.

(m)  To do all acts and things necessary or convenient for the conduct of its business and the general welfare of the authority, in order to carry out the powers granted to it by this part or any other law.

(n)  With the consent of the county within whose jurisdiction the following activities occur, the authority shall have the right to construct, operate, and maintain roads, bridges, avenues of access, thoroughfares, and boulevards outside the jurisdictional boundaries of Orange County, together with the right to construct, repair, replace, operate, install, and maintain electronic toll payment systems thereon, with all necessary and incidental powers to accomplish the foregoing.

(3)  The authority shall have no power at any time or in any manner to pledge the credit or taxing power of the state or any political subdivision or agency thereof, including the City of Orlando and the County of Orange, nor shall any of the authority's obligations be deemed to be obligations of the state or of any political subdivision or agency thereof, nor shall the state or any political subdivision or agency thereof, except the authority, be liable for the payment of the principal of or interest on such obligations.

(4)  Anything in this part to the contrary notwithstanding, acquisition of right-of-way for a project of the authority which is within the boundaries of any municipality in Orange County shall not be begun unless and until the route of said project within said municipality has been given prior approval by the governing body of said municipality.

(5)  The authority shall have no power other than by consent of Orange County or any affected city, to enter into any agreement which would legally prohibit the construction of any road by Orange County or by any city within Orange County.

History.--s. 4, ch. 63-573; s. 1, ch. 68-8; ss. 23, 35, ch. 69-106; s. 59, ch. 95-257; s. 29, ch. 97-280.

Note.--Former s. 348.0103.

348.7543  Improvements, bond financing authority for.--Pursuant to s. 11(f), Art. VII of the State Constitution, the Legislature hereby approves for bond financing by the Orlando-Orange County Expressway Authority improvements to toll collection facilities, interchanges to the legislatively approved expressway system, and any other facility appurtenant, necessary, or incidental to the approved system. Subject to terms and conditions of applicable revenue bond resolutions and covenants, such costs may be financed in whole or in part by revenue bonds issued pursuant to s. 348.755(1)(a) or (b) whether currently issued or issued in the future, or by a combination of such bonds.

History.--s. 134, ch. 92-152; s. 74, ch. 2001-61; s. 129, ch. 2002-20.

348.7544  Northwest Beltway Part A, construction authorized; financing.--Notwithstanding s. 338.2275, the Orlando-Orange County Expressway Authority is hereby authorized to construct, finance, operate, own, and maintain that portion of the Western Beltway known as the Northwest Beltway Part A, extending from Florida's Turnpike near Ocoee north to U.S. 441 near Apopka, as part of the authority's 20-year capital projects plan. This project may be financed with any funds available to the authority for such purpose or revenue bonds issued by the Division of Bond Finance of the State Board of Administration on behalf of the authority pursuant to s. 11, Art. VII of the State Constitution and the State Bond Act, ss. 215.57-215.83.

History.--s. 135, ch. 92-152; s. 10, ch. 94-237; s. 60, ch. 95-257.

348.7545  Western Beltway Part C, construction authorized; financing.--Notwithstanding s. 338.2275, the Orlando-Orange County Expressway Authority is authorized to exercise its condemnation powers, construct, finance, operate, own, and maintain that portion of the Western Beltway known as the Western Beltway Part C, extending from Florida's Turnpike near Ocoee in Orange County southerly through Orange and Osceola Counties to an interchange with I-4 near the Osceola-Polk County line, as part of the authority's 20-year capital projects plan. This project may be financed with any funds available to the authority for such purpose or revenue bonds issued by the Division of Bond Finance of the State Board of Administration on behalf of the authority pursuant to s. 11, Art. VII of the State Constitution and the State Bond Act, ss. 215.57-215.83. This project may be refinanced with bonds issued by the authority pursuant to s. 348.755(1)(d).

History.--s. 11, ch. 94-237; s. 61, ch. 95-257; s. 130, ch. 2002-20.

348.755  Bonds of the authority.--

(1)(a)  Bonds may be issued on behalf of the authority pursuant to the State Bond Act.

(b)  Alternatively, the authority may issue its own bonds pursuant to this part at such times and in such principal amount as, in the opinion of the authority, is necessary to provide sufficient moneys for achieving its purposes; however, such bonds may not pledge the full faith and credit of the state. Bonds issued by the authority pursuant to this paragraph or paragraph (a), whether on original issuance or on refunding, shall be authorized by resolution of the members thereof and may be either term or serial bonds, shall bear such date or dates, mature at such time or times, not exceeding 40 years from their respective dates, bear interest at such rate or rates, payable semiannually, be in such denominations, be in such form, either coupon or fully registered, shall carry such registration, exchangeability and interchangeability privileges, be payable in such medium of payment and at such place or places, be subject to such terms of redemption and be entitled to such priorities on the revenues, rates, fees, rentals or other charges or receipts of the authority including the Orange County gasoline tax funds received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department, as such resolution or any resolution subsequent thereto may provide. The bonds shall be executed either by manual or facsimile signature by such officers as the authority shall determine, provided that such bonds shall bear at least one signature which is manually executed thereon, and the coupons attached to such bonds shall bear the facsimile signature or signatures of such officer or officers as shall be designated by the authority and shall have the seal of the authority affixed, imprinted, reproduced or lithographed thereon, all as may be prescribed in such resolution or resolutions.

(c)  Bonds issued pursuant to paragraph (a) or paragraph (b) shall be sold at public sale in the same manner provided by the State Bond Act. However, if the authority shall, by official action at a public meeting, determine that a negotiated sale of such bonds is in the best interest of the authority, the authority may negotiate the sale of such bonds with the underwriter or underwriters designated by the authority and the Division of Bond Finance of the State Board of Administration with respect to bonds issued pursuant to paragraph (a) or solely the authority with respect to bonds issued pursuant to paragraph (b). The authority's determination to negotiate the sale of such bonds may be based, in part, upon the written advice of the authority's financial adviser. Pending the preparation of definitive bonds, interim certificates may be issued to the purchaser or purchasers of such bonds and may contain such terms and conditions as the authority may determine.

(d)  The authority may issue bonds pursuant to paragraph (b) to refund any bonds previously issued regardless of whether the bonds being refunded were issued by the authority pursuant to this chapter or on behalf of the authority pursuant to the State Bond Act.

(2)  Any such resolution or resolutions authorizing any bonds hereunder may contain provisions which shall be part of the contract with the holders of such bonds, as to:

(a)  The pledging of all or any part of the revenues, rates, fees, rentals (including all or any portion of the Orange County gasoline tax funds received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department, or any part thereof), or other charges or receipts of the authority, derived by the authority, from the Orlando-Orange County Expressway System.

(b)  The completion, improvement, operation, extension, maintenance, repair, lease or lease-purchase agreement of said system, and the duties of the authority and others, including the department, with reference thereto.

(c)  Limitations on the purposes to which the proceeds of the bonds, then or thereafter to be issued, or of any loan or grant by the United States or the state may be applied.

(d)  The fixing, charging, establishing and collecting of rates, fees, rentals or other charges for use of the services and facilities of the Orlando-Orange County Expressway System or any part thereof.

(e)  The setting aside of reserves or sinking funds or repair and replacement funds and the regulation and disposition thereof.

(f)  Limitations on the issuance of additional bonds.

(g)  The terms and provisions of any lease-purchase agreement, deed of trust or indenture securing the bonds, or under which the same may be issued.

(h)  Any other or additional agreements with the holders of the bonds which the authority may deem desirable and proper.

(3)  The authority may employ fiscal agents as provided by this part or the State Board of Administration of Florida may upon request of the authority act as fiscal agent for the authority in the issuance of any bonds which may be issued pursuant to this part, and the State Board of Administration may upon request of the authority take over the management, control, administration, custody and payment of any or all debt services or funds or assets now or hereafter available for any bonds issued pursuant to this part. The authority may enter into any deeds of trust, indentures or other agreements with its fiscal agent, or with any bank or trust company within or without the state, as security for such bonds, and may, under such agreements, sign and pledge all or any of the revenues, rates, fees, rentals or other charges or receipts of the authority, including all or any portion of the Orange County gasoline tax funds received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department, thereunder. Such deed of trust, indenture or other agreement may contain such provisions as are customary in such instruments, or, as the authority may authorize, including but without limitation, provisions as to:

(a)  The completion, improvement, operation, extension, maintenance, repair and lease of, or lease-purchase agreement relating to the Orlando-Orange County Expressway System, and the duties of the authority and others including the department, with reference thereto.

(b)  The application of funds and the safeguarding of funds on hand or on deposit.

(c)  The rights and remedies of the trustee and the holders of the bonds.

(d)  The terms and provisions of the bonds or the resolutions authorizing the issuance of same.

(4)  Any of the bonds issued pursuant to this part are, and are hereby declared to be, negotiable instruments, and shall have all the qualities and incidents of negotiable instruments under the law merchant and the negotiable instruments law of the state.

(5)  Notwithstanding any of the provisions of this part, each project, building, or facility which has been financed by the issuance of bonds or other evidence of indebtedness under this part and any refinancing thereof is hereby approved as provided for in s. 11(f), Art. VII of the State Constitution.

History.--s. 5, ch. 63-573; s. 1, ch. 65-481; s. 2, ch. 68-8; ss. 23, 35, ch. 69-106; s. 28, ch. 73-302; s. 86, ch. 85-180; s. 4, ch. 86-47; s. 290, ch. 92-279; s. 55, ch. 92-326; s. 59, ch. 2000-152; s. 131, ch. 2002-20.

Note.--Former s. 348.0104.

348.756  Remedies of the bondholders.--

(1)  The rights and the remedies herein conferred upon or granted to the bondholders shall be in addition to and not in limitation of any rights and remedies lawfully granted to such bondholders by the resolution or resolutions providing for the issuance of bonds, or by a lease-purchase agreement, deed of trust, indenture or other agreement under which the bonds may be issued or secured. In the event that the authority shall default in the payment of the principal of or interest on any of the bonds issued pursuant to the provisions of this part after such principal of or interest on said bonds shall have become due, whether at maturity or upon call for redemption, or the department shall default in any payments under, or covenants made in, any lease-purchase agreement between the authority and the department, and such default shall continue for a period of 30 days, or in the event that the authority or the department shall fail or refuse to comply with the provisions of this part or any agreement made with, or for the benefit of, the holders of the bonds, the holders of 25 percent in aggregate principal amount of the bonds then outstanding shall be entitled as of right to the appointment of a trustee to represent such bondholders for the purposes hereof; provided, however, that such holders of 25 percent in aggregate principal amount of the bonds then outstanding shall have first given notice of their intention to appoint a trustee, to the authority and to the department. Such notice shall be deemed to have been given if given in writing, and deposited in a securely sealed postpaid wrapper, mailed at a regularly maintained United States post office box or station and addressed, respectively, to the chair of the authority and to the secretary of the Department of Transportation at the principal office of the department.

(2)  Such trustee, and any trustee under any deed of trust, indenture or other agreement, may, and upon written request of the holders of 25 percent, or such other percentages as may be specified in any deed of trust, indenture or other agreement aforesaid, in principal amount of the bonds then outstanding, shall, in any court of competent jurisdiction, in his, her, or its own name:

(a)  By mandamus or other suit, action or proceeding at law, or in equity, enforce all rights of the bondholders, including the right to require the authority to fix, establish, maintain, collect and charge rates, fees, rentals, and other charges, adequate to carry out any agreement as to, or pledge of, the revenues or receipts of the authority to carry out any other covenants and agreements with or for the benefit of the bondholders, and to perform its and their duties under this part.

(b)  By mandamus or other suit, action or proceeding at law, or in equity, enforce all rights of the bondholders under or pursuant to any lease-purchase agreement between the authority and the department, including the right to require the department to make all rental payments required to be made by it under the provisions of any such lease-purchase agreement, whether from the Orange County gasoline tax funds or other funds of the department so agreed to be paid and to require the department to carry out any other covenants and agreements with or for the benefit of the bondholders, and to perform its and their duties under this part.

(c)  Bring suit upon the bonds.

(d)  By action or suit in equity require the authority or the department to account as if it were the trustee of an express trust for the bondholders.

(e)  By action or suit in equity enjoin any acts or things which may be unlawful or in violation of the rights of the bondholders.

(3)  Any trustee when appointed as aforesaid, or acting under a deed of trust, indenture or other agreement, and whether or not all bonds have been declared due and payable, shall be entitled as of right to the appointment of a receiver, who may enter upon and take possession of the Orlando-Orange County Expressway System or the facilities or any part or parts thereof, the rates, fees, rentals, or other revenues, charges or receipts from which are, or may be, applicable to the payment of the bonds so in default, and subject to and in compliance with the provisions of any lease-purchase agreement between the authority and the department operate and maintain the same, for and on behalf of and in the name of, the authority, the department and the bondholders, and collect and receive all rates, fees, rentals, and other charges or receipts or revenues arising therefrom in the same manner as the authority or the department might do, and shall deposit all such moneys in a separate account and apply the same in such manner as the court shall direct. In any suit, action or proceeding by the trustee, the fees, counsel fees, and expenses of the trustee, and said receiver, if any, and all costs and disbursements allowed by the court shall be a first charge on any rates, fees, rentals, or other charges, revenues or receipts, derived from the Orlando-Orange County Expressway System, or the facilities or services or any part or parts thereof, including payments under any such lease-purchase agreement as aforesaid which said rates, fees, rentals, or other charges, revenues or receipts shall or may be applicable to the payment of the bonds so in default. Such trustee shall, in addition to the foregoing, have and possess all of the powers necessary or appropriate for the exercise of any functions specifically set forth herein or incident to the representation of the bondholders in the enforcement and protection of their rights.

(4)  Nothing in this section or any other section of this part shall authorize any receiver appointed pursuant hereto for the purpose, subject to and in compliance with the provisions of any lease-purchase agreement between the authority and the department, of operating and maintaining the Orlando-Orange County Expressway System or any facilities or part or parts thereof, to sell, assign, mortgage or otherwise dispose of any of the assets of whatever kind and character belonging to the authority. It is the intention of this part to limit the powers of such receiver, subject to and in compliance with the provisions of any lease-purchase agreement between the authority and the department, to the operation and maintenance of the Orlando-Orange County Expressway System, or any facility, or part or parts thereof, as the court may direct, in the name and for and on behalf of the authority, the department and the bondholders, and no holder of bonds on the authority nor any trustee, shall ever have the right in any suit, action or proceeding at law or in equity, to compel a receiver, nor shall any receiver be authorized or any court be empowered to direct the receiver to sell, assign, mortgage or otherwise dispose of any assets of whatever kind or character belonging to the authority.

History.--s. 6, ch. 63-573; s. 5, ch. 67-461; ss. 23, 35, ch. 69-106; s. 521, ch. 95-148.

Note.--Former s. 348.0105.

348.757  Lease-purchase agreement.--

(1)  In order to effectuate the purposes of this part and as authorized by this part, the authority may enter into a lease-purchase agreement with the department relating to and covering the Orlando-Orange County Expressway System.

(2)  Such lease-purchase agreement shall provide for the leasing of the Orlando-Orange County Expressway System, by the authority, as lessor, to the department, as lessee, shall prescribe the term of such lease and the rentals to be paid thereunder and shall provide that upon the completion of the faithful performance thereunder and the termination of such lease-purchase agreement, title in fee simple absolute to the Orlando-Orange County Expressway System as then constituted shall be transferred in accordance with law by the authority, to the state and the authority shall deliver to the department such deeds and conveyances as shall be necessary or convenient to vest title in fee simple absolute in the state.

(3)  Such lease-purchase agreement may include such other provisions, agreements and covenants as the authority and the department deem advisable or required, including, but not limited to, provisions as to the bonds to be issued under, and for the purposes of, this part, the completion, extension, improvement, operation and maintenance of the Orlando-Orange County Expressway System and the expenses and the cost of operation of said authority, the charging and collection of tolls, rates, fees, and other charges for the use of the services and facilities thereof, the application of federal or state grants or aid which may be made or given to assist the authority in the completion, extension, improvement, operation and maintenance of the Orlando Expressway System, which the authority is hereby authorized to accept and apply to such purposes, the enforcement of payment and collection of rentals and any other terms, provisions or covenants necessary, incidental or appurtenant to the making of and full performance under such lease-purchase agreement.

(4)  The department as lessee under such lease-purchase agreement, is hereby authorized to pay as rentals thereunder any rates, fees, charges, funds, moneys, receipts or income accruing to the department from the operation of the Orlando-Orange County Expressway System and the Orange County gasoline tax funds and may also pay as rentals any appropriations received by the department pursuant to any act of the Legislature of the state heretofore or hereafter enacted; provided, however, that nothing herein nor in such lease-purchase agreement is intended to nor shall this part or such lease-purchase agreement require the making or continuance of such appropriations, nor shall any holder of bonds issued pursuant to this part ever have any right to compel the making or continuance of such appropriations.

(5)  No pledge of said Orange County gasoline tax funds as rentals under such lease-purchase agreement shall be made without the consent of the County of Orange evidenced by a resolution duly adopted by the board of county commissioners of said county at a public hearing held pursuant to due notice thereof published at least once a week for 3 consecutive weeks before the hearing in a newspaper of general circulation in Orange County. Said resolution, among other things, shall provide that any excess of said pledged gasoline tax funds which is not required for debt service or reserves for such debt service for any bonds issued by said authority shall be returned annually to the department for distribution to Orange County as provided by law. Before making any application for such pledge of gasoline tax funds, the authority shall present the plan of its proposed project to the Orange County planning and zoning commission for its comments and recommendations.

(6)  Said department shall have power to covenant in any lease-purchase agreement that it will pay all or any part of the cost of the operation, maintenance, repair, renewal and replacement of said system, and any part of the cost of completing said system to the extent that the proceeds of bonds issued therefor are insufficient, from sources other than the revenues derived from the operation of said system and said Orange County gasoline tax funds. Said department may also agree to make such other payments from any moneys available to said commission, said county or said city in connection with the construction or completion of said system as shall be deemed by said department to be fair and proper under any such covenants heretofore or hereafter entered into.

(7)  Said system shall be a part of the state road system and said department is hereby authorized, upon the request of the authority, to expend out of any funds available for the purpose such moneys, and to use such of its engineering and other forces, as may be necessary and desirable in the judgment of said department, for the operation of said authority and for traffic surveys, borings, surveys, preparation of plans and specifications, estimates of cost and other preliminary engineering and other studies; provided, however, that the aggregate amount of moneys expended for said purposes by said department shall not exceed the sum of $375,000.

History.--s. 7, ch. 63-573; ss. 23, 35, ch. 69-106; s. 103, ch. 77-104.

Note.--Former s. 348.0106.

348.758  Department may be appointed agent of authority for construction.--The department may be appointed by said authority as its agent for the purpose of constructing improvements and extensions to the Orlando-Orange County Expressway System and for the completion thereof. In such event, the authority shall provide the department with complete copies of all documents, agreements, resolutions, contracts and instruments relating thereto and shall request the department to do such construction work including the planning, surveying and actual construction of the completion, extensions, and improvements to the Orlando-Orange County Expressway System and shall transfer to the credit of an account of the department in the treasury of the state the necessary funds therefor and the department shall thereupon be authorized, empowered and directed to proceed with such construction and to use the said funds for such purpose in the same manner that it is now authorized to use the funds otherwise provided by law for its use in construction of roads and bridges.

History.--s. 8, ch. 63-573; ss. 23, 35, ch. 69-106.

Note.--Former s. 348.0107.

348.759  Acquisition of lands and property.--

(1)  For the purposes of this part, the Orlando-Orange County Expressway Authority may acquire private or public property and property rights, including rights of access, air, view, and light, by gift, devise, purchase, or condemnation by eminent domain proceedings, as the authority may deem necessary for any of the purposes of this part, including, but not limited to, any lands reasonably necessary for securing applicable permits, areas necessary for management of access, borrow pits, drainage ditches, water retention areas, rest areas, replacement access for landowners whose access is impaired due to the construction of a facility, and replacement rights-of-way for relocated rail and utility facilities; for existing, proposed, or anticipated transportation facilities on the Orlando-Orange County Expressway System or in a transportation corridor designated by the authority; or for the purposes of screening, relocation, removal, or disposal of junkyards and scrap metal processing facilities. The authority shall also have the power to condemn any material and property necessary for such purposes.

(2)  The right of eminent domain herein conferred shall be exercised by the authority in the manner provided by law.

(3)  When the authority acquires property for a transportation facility or in a transportation corridor, it is not subject to any liability imposed by chapter 376 or chapter 403 for preexisting soil or groundwater contamination due solely to its ownership. This section does not affect the rights or liabilities of any past or future owners of the acquired property nor does it affect the liability of any governmental entity for the results of its actions which create or exacerbate a pollution source. The authority and the Department of Environmental Protection may enter into interagency agreements for the performance, funding, and reimbursement of the investigative and remedial acts necessary for property acquired by the authority.

History.--s. 9, ch. 63-573; s. 2, ch. 89-240; s. 180, ch. 94-356; s. 64, ch. 99-385.

Note.--Former s. 348.0108.

348.760  Cooperation with other units, boards, agencies, and individuals.--Express authority and power is hereby given and granted any county, municipality, drainage district, road and bridge district, school district or any other political subdivision, board, commission, or individual in, or of, the state to make and enter into with the authority, contracts, leases, conveyances, partnerships, or other agreements within the provisions and purposes of this part. The authority is hereby expressly authorized to make and enter into contracts, leases, conveyances, partnerships, and other agreements with any political subdivision, agency, or instrumentality of the state and any and all federal agencies, corporations, and individuals, for the purpose of carrying out the provisions of this part or with the consent of the Seminole County Expressway Authority, for the purpose of carrying out and implementing part VIII of this chapter.

History.--s. 10, ch. 63-573; s. 62, ch. 95-257.

Note.--Former s. 348.0109.

348.761  Covenant of the state.--The state does hereby pledge to, and agrees, with any person, firm or corporation, or federal or state agency subscribing to, or acquiring the bonds to be issued by the authority for the purposes of this part that the state will not limit or alter the rights hereby vested in the authority and the department until all bonds at any time issued, together with the interest thereon, are fully paid and discharged insofar as the same affects the rights of the holders of bonds issued hereunder. The state does further pledge to, and agree, with the United States that in the event any federal agency shall construct or contribute any funds for the completion, extension or improvement of the Orlando-Orange County Expressway System, or any part or portion thereof, the state will not alter or limit the rights and powers of the authority and the department in any manner which would be inconsistent with the continued maintenance and operation of the Orlando-Orange County Expressway System or the completion, extension or improvement thereof, or which would be inconsistent with the due performance of any agreements between the authority and any such federal agency, and the authority and the department shall continue to have and may exercise all powers herein granted, so long as the same shall be necessary or desirable for the carrying out of the purposes of this part and the purposes of the United States in the completion, extension or improvement of the Orlando-Orange County Expressway System, or any part or portion thereof.

History.--s. 11, ch. 63-573; ss. 23, 35, ch. 69-106.

Note.--Former s. 348.0110.

348.762  Exemption from taxation.--The effectuation of the authorized purposes of the authority created under this part is, shall and will be, in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and since such authority will be performing essential governmental functions in effectuating such purposes, such authority shall not be required to pay any taxes or assessments of any kind or nature whatsoever upon any property acquired or used by it for such purposes, or upon any rates, fees, rentals, receipts, income or charges at any time received by it, and the bonds issued by the authority, their transfer and the income therefrom, including any profits made on the sale thereof shall at all times be free from taxation of any kind by the state, or by any political subdivision, or taxing agency or instrumentality thereof. The exemption granted by this section shall not be applicable to any tax imposed by chapter 220 on interest, income, or profits on debt obligations owned by corporations.

History.--s. 12, ch. 63-573; s. 12, ch. 73-327.

Note.--Former s. 348.0111.

348.763  Eligibility for investments and security.--Any bonds or other obligations issued pursuant to this part shall be and constitute legal investments for banks, savings banks, trustees, executors, administrators, and all other fiduciaries, and for all state, municipal and other public funds and shall also be and constitute securities eligible for deposit as security for all state, municipal or other public funds, notwithstanding the provisions of any other law or laws to the contrary.

History.--s. 13, ch. 63-573.

Note.--Former s. 348.0112.

348.764  Pledges enforceable by bondholders.--It is the express intention of this part that any pledge by the department of rates, fees, revenues, Orange County gasoline tax funds or other funds, as rentals, to the authority, or any covenants or agreements relative thereto may be enforceable in any court of competent jurisdiction against the authority or directly against the department by any holder of bonds issued by the authority.

History.--s. 14, ch. 63-573; ss. 23, 35, ch. 69-106.

Note.--Former s. 348.0113.

348.765  This part complete and additional authority.--

(1)  The powers conferred by this part shall be in addition and supplemental to the existing powers of said board and the department, and this part shall not be construed as repealing any of the provisions, of any other law, general, special or local, but to supersede such other laws in the exercise of the powers provided in this part, and to provide a complete method for the exercise of the powers granted in this part. The extension and improvement of said Orlando-Orange County Expressway System, and the issuance of bonds hereunder to finance all or part of the cost thereof, may be accomplished upon compliance with the provisions of this part without regard to or necessity for compliance with the provisions, limitations, or restrictions contained in any other general, special or local law, including, but not limited to, s. 215.821, and no approval of any bonds issued under this part by the qualified electors or qualified electors who are freeholders in the state or in said County of Orange, or in said City of Orlando, or in any other political subdivision of the state, shall be required for the issuance of such bonds pursuant to this part.

(2)  This part shall not be deemed to repeal, rescind, or modify any other law or laws relating to said State Board of Administration, said Department of Transportation, or the Division of Bond Finance of the State Board of Administration, but shall be deemed to and shall supersede such other law or laws as are inconsistent with the provisions of this part, including, but not limited to, s. 215.821.

History.--s. 15, ch. 63-573; ss. 22, 23, 35, ch. 69-106; s. 291, ch. 92-279; s. 55, ch. 92-326; s. 132, ch. 2002-20.

Note.--Former s. 348.0114.

348.80  Short title.

348.81  Definitions.

348.82  Pasco County Expressway Authority.

348.83  Purposes and powers.

348.84  Bonds.

348.86  Lease-purchase agreement.

348.87  Department may be appointed agent of authority for construction.

348.88  Acquisition of lands and property.

348.89  Cooperation with other units, boards, agencies, and individuals.

348.90  Covenant of the state.

348.91  Exemption from taxation.

348.92  Eligibility for investments and security.

348.93  Pledges enforceable by bondholders.

348.94  This part complete and additional authority.

348.80  Short title.--This part shall be known and may be cited as the "Pasco County Expressway Authority Law."

History.--s. 1, ch. 73-226.

348.81  Definitions.--As used in this part, unless the context clearly indicates otherwise:

(1)  The term "agency of the state" means and includes the state and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the state.

(2)  The term "authority" means the Board of County Commissioners of Pasco County.

(3)  The term "bonds" means and includes the notes, bonds, refunding bonds, or other evidences of indebtedness or obligations, in either temporary or definitive form, which the authority is authorized to issue pursuant to this part.

(4)  The term "county" means the County of Pasco.

(5)  The term "department" means the Department of Transportation existing under chapters 334-339.

(6)  The term "expressway" means the same as limited access expressway.

(7)  The term "federal agency" means and includes the United States, the President of the United States, and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the United States.

(8)  The term "lease-purchase agreement" means lease-purchase agreements which the authority is authorized, pursuant to this part, to enter into with the Department of Transportation.

(9)  The term "limited access expressway" means a street or highway especially designed for through traffic and over, from, or to which no person shall have the right of easement, use, or access except in accordance with the rules and regulations promulgated and established by the authority for the use of such facility. Such highways or streets may be parkways from which trucks, buses, and other commercial vehicles shall be excluded, or they may be freeways open to use by all customary forms of street and highway traffic.

(10)  The term "members" means the governing body of the authority, and the term "member" means one of the individuals constituting such governing body.

(11)  The term "Pasco County Expressway System" means any and all expressways and appurtenant facilities thereto, including, but not limited to, all approaches, roads, bridges, and avenues of access for such expressway or expressways.

(12)  The term "Pasco County gasoline tax funds" means all the 80-percent surplus gasoline tax funds accruing in each year to the Department of Transportation for use in Pasco County under the provisions of s. 9, Art. XII of the State Constitution or all such constitutional gas funds as may otherwise be provided now or hereafter by the constitution or by statute for use in Pasco County, after deduction only of any amounts of such gasoline tax funds heretofore pledged by the Department of Transportation or the county for outstanding obligations.

(13)  The term "State Board of Administration" means the body corporate existing under the provisions of s. 9, Art. XII of the State Constitution or any successor thereto.

(14)  Words importing singular number include the plural number in each case and vice versa, and words importing persons include firms and corporations.

History.--s. 1, ch. 73-226; s. 50, ch. 83-3.

348.82  Pasco County Expressway Authority.--There is created and established a body politic and corporate, an agency of the state, to be known as the Pasco County Expressway Authority, hereinafter referred to as "authority." All the authority, powers, duties, responsibilities, personnel, properties, and appropriations or other funds of the Pasco County Expressway System are hereby transferred to, and vested in, the Board of County Commissioners of Pasco County as the authority.

History.--s. 1, ch. 73-226.

348.83  Purposes and powers.--

(1)(a)  The authority created and established by the provisions of this part is hereby granted and shall have the right to acquire, hold, construct, improve, maintain, operate, own, and lease, in the capacity of lessor, the Pasco County Expressway System, hereinafter referred to as "system."

(b)  It is the express intention of this part that said authority, in the construction of the Pasco County Expressway System, shall be authorized to construct any extensions, additions, or improvements to the system or appurtenant facilities, including all necessary approaches, roads, bridges, and avenues of access, with such changes, modifications, or revisions of the project as shall be deemed desirable and proper.

(2)  The authority is hereby granted, and shall have and may exercise, all powers necessary, appurtenant, convenient, or incidental to the carrying out of the aforesaid purposes, including, but without being limited to, the following rights and powers:

(a)  To sue and be sued, implead and be impleaded, and complain and defend in all courts.

(b)  To adopt, use, and alter at will a corporate seal.

(c)  To acquire, purchase, hold, lease as lessee, and use any franchise or property, real, personal, or mixed, tangible or intangible, or any interest therein, necessary or desirable for carrying out the purposes of the authority, and to sell, lease as lessor, transfer, and dispose of any property or interest therein at any time acquired by it.

(d)  To enter into and make leases for terms not exceeding 40 years, as either lessee or lessor, in order to carry out the right to lease as set forth in this part.

(e)  To enter into and make lease-purchase agreements with the department for terms not exceeding 40 years or until any bonds secured by a pledge of rentals thereunder and any refundings thereof are fully paid as to both principal and interest, whichever is longer.

(f)  To fix, alter, charge, establish, and collect rates, fees, rentals, and other charges for the services and facilities of the Pasco County Expressway System, which rates, fees, rentals, and other charges shall always be sufficient to comply with any covenants made with the holders of any bonds issued pursuant to this part. However, such right and power may be assigned or delegated by the authority to the department.

(g)1.  To borrow money as provided by the State Bond Act.

2.  The authority shall reimburse Pasco County for any sums expended from the gasoline tax funds used for the payment of such obligations. Any gasoline tax funds so disbursed shall be repaid when the authority deems it practicable, together with interest at the highest rate applicable to any obligations of the authority.

(h)  To make contracts of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business.

(i)  Without limitation of the foregoing, to borrow money and accept grants from, and to enter into contracts, leases, or other transactions with, any federal agency, the state, any agency of the state, the County of Pasco, or any other public body of the state.

(j)  To have the power of eminent domain, including the procedural powers granted under both chapters 73 and 74.

(k)  To pledge, hypothecate, or otherwise encumber all or any part of the revenues, rates, fees, rentals, or other charges or receipts of the authority, including all or any portion of the Pasco County gasoline tax funds received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department as security for all or any of the obligations of the authority.

(l)  To do all acts and things necessary or convenient for the conduct of its business and the general welfare of the authority in order to carry out the powers granted to it by this part or any other law.

(3)  The authority shall have no power at any time or in any manner to pledge the credit or taxing power of the state or any political subdivision or agency thereof, including the County of Pasco; nor shall any of the authority's obligations be deemed to be obligations of the state or of any political subdivision or agency thereof; nor shall the state or any political subdivision or agency thereof except the authority be liable for the payment of the principal of or interest on such obligations.

(4)  Anything in this part or any other provision of the law to the contrary notwithstanding, the consent of any municipality shall not be necessary for any project of the authority, whether or not the project lies within the boundaries of any municipality either in whole or in part. However, the officials and residents of any municipality in which any project of the authority is to be located in whole or in part shall be given ample opportunity to discuss the project and advise the authority as to their position thereon at a duly advertised public hearing. Advertisement of said public hearing shall be by way of a newspaper published in Pasco County and circulated in the affected municipalities. Said legal advertisement shall be published once at least 2 weeks prior to the public hearing and shall contain the time and place of the public hearing and a short description of the subject to be discussed. The public hearing may be adjourned from time to time and set for a time and place certain without necessity of further advertisement.

(5)(a)  The authority is directed to reevaluate all projects planned as of July 1, 1969. As to such projects, the authority shall hold at least one duly advertised public hearing in each of the cities of Dade City and New Port Richey prior to final approval of any such project. Subsequent to the hearings, the authority may amend or modify the project and adjust its proposed route so as to best serve the needs of the county and to protect the rights of persons affected by the project.

(b)  Projects subject to the provisions of this subsection shall not be finally approved except by a three-fifths vote of the authority. After the authority approves same, the Pasco County Commission shall order a referendum election on such project by the freeholders of the county. Approval of a majority of those voting in such election shall constitute approval of such project.

History.--s. 1, ch. 73-226.

348.84  Bonds.--Bonds may be issued on behalf of the authority as provided by the State Bond Act.

History.--s. 1, ch. 73-226.

348.86  Lease-purchase agreement.--

(1)  In order to effectuate the purposes of this part and as authorized herein, the authority may enter into a lease-purchase agreement with the department relating to and covering the Pasco County Expressway System.

(2)  Such lease-purchase agreement shall provide for the leasing of the Pasco County Expressway System by the authority, as lessor, to the department, as lessee; prescribe the term of such lease and the rentals to be paid thereunder; and provide that upon the completion of the faithful performance thereunder and the termination of such lease-purchase agreement, title in fee simple absolute to the Pasco County Expressway System, as then constituted, shall be transferred in accordance with law by the authority to the state, and the authority shall deliver to the department such deeds and conveyances as shall be necessary or convenient to vest title in fee simple absolute in the state.

(3)  Such lease-purchase agreement may include such other provisions, agreements, and covenants as the authority and the department deem advisable or required, including, but not limited to, provisions as to the bonds to be issued under and for the purposes of this part; the completion, extension, improvement, operation, and maintenance of the Pasco County Expressway System; the expenses and cost of operation of said authority; the charging and collection of tolls, rates, fees, and other charges for the use of the services and facilities thereof; the application of federal or state grants or aid which may be made or given to assist the authority in the completion, extension, improvement, operation, and maintenance of the Pasco County Expressway System, which the authority is hereby authorized to accept and apply to such purposes; the enforcement of payment and collection of rentals; and any other terms, provisions, or covenants necessary, incidental, or appurtenant to the making of, and full performance under, such lease-purchase agreement.

(4)  The department, as lessee under such lease-purchase agreement, is hereby authorized to pay, as rentals thereunder, any rates, fees, charges, funds, moneys, receipts, or income accruing to the department from the operation of the Pasco County Expressway System and the Pasco County gasoline tax funds and may also pay, as rentals, any appropriations received by the department pursuant to any act of the Legislature heretofore or hereafter enacted. However, nothing herein or in such lease-purchase agreement is intended to require, nor shall this part or such lease-purchase agreement require, the making or continuance of such appropriations, nor shall any holder of bonds issued pursuant to this part ever have any right to compel the making or continuance of such appropriations.

(5)  No pledge of Pasco County gasoline tax funds as rentals under such lease-purchase agreement shall be made without the consent of Pasco County, evidenced by a resolution duly adopted by the board of county commissioners of said county at a public hearing held pursuant to due notice thereof published at least once a week for 3 consecutive weeks before the hearing in a newspaper of general circulation in the county. The resolution, among other things, shall provide that any excess of the pledged gasoline tax funds which is not required for debt service or reserves for such debt service for any bonds issued by the authority shall be returned annually to the department for distribution to Pasco County as provided by law. Before making any application for such pledge of gasoline tax funds, the authority shall present the plan of its proposed project to the Pasco County planning council for its comments and recommendations. The department shall have power to covenant in any lease-purchase agreement that it will pay all or any part of the cost of the operation, maintenance, repair, renewal, and replacement of the system, and any part of the cost of completing the system to the extent that the proceeds of bonds issued therefor are insufficient, from sources other than the revenues derived from the operation of the system and the Pasco County gasoline tax funds. The department may also agree to make such other payments from any moneys available to Pasco County, in connection with the construction or completion of the system, as shall be deemed by the department to be fair and proper under any such covenants heretofore or hereafter entered into.

(6)  The system shall be a part of the state road system, and the department is hereby authorized, upon the request of the authority, to expend out of any funds available for the purpose such moneys and to use such of its engineering and other forces as may be necessary and desirable in the judgment of the department for the operation of the authority and for traffic surveys, borings, surveys, preparation of plans and specifications, estimates of cost, and other preliminary engineering and other studies. However, the aggregate amount of moneys expended for said purpose by the department shall not exceed the sum of $500,000.

History.--s. 1, ch. 73-226.

348.87  Department may be appointed agent of authority for construction.--The department may be appointed by the authority as its agent for the purpose of constructing improvements and extensions to the Pasco County Expressway System and for the completion thereof. In such event, the authority shall provide the department with complete copies of all documents, agreements, resolutions, contracts, and instruments relating thereto, request the department to do such construction work, including the planning, surveying, and actual construction of the completion, extensions, and improvements to the Pasco County Expressway System, and transfer to the credit of an account of the department, in the treasury of the state, the necessary funds therefor, and the department shall thereupon be authorized, empowered, and directed to proceed with such construction and to use the funds for such purpose in the same manner that it is now authorized to use the funds otherwise provided by law for its use in construction of roads and bridges.

History.--s. 1, ch. 73-226.

348.88  Acquisition of lands and property.--

(1)  For the purposes of this part, the Pasco County Expressway Authority may acquire private or public property and property rights, including rights of access, air, view, and light, by gift, devise, purchase, or condemnation by eminent domain proceedings, as the authority may deem necessary. The right of eminent domain herein conferred shall be exercised by the authority in the manner provided by law.

(2)  In connection with the acquisition of property or property rights as herein provided, the authority may, in its discretion, acquire an entire lot, block, or tract of land if by so doing the interests of the public will be best served, even though said entire lot, block, or tract is not immediately needed for the right-of-way proper.

History.--s. 1, ch. 73-226.

348.89  Cooperation with other units, boards, agencies, and individuals.--Express authority and power is hereby given and granted any county, municipality, drainage district, road and bridge district, school district, or other political subdivision, board, commission, or individual in or of the state to make and enter into contracts, leases, conveyances, or other agreements with the authority within the provisions and purposes of this part. The authority is hereby expressly authorized to make and enter into contracts, leases, conveyances, and other agreements with any political subdivision, agency, or instrumentality of the state and any and all federal agencies, corporations, and individuals for the purpose of carrying out the provisions of this part.

History.--s. 1, ch. 73-226.

348.90  Covenant of the state.--The state does hereby pledge to, and agrees, with any person, firm, or corporation, or federal or state agency subscribing to or acquiring the bonds to be issued by the authority for the purposes of this part that the state will not limit or alter the rights hereby vested in the authority and the department until all bonds at any time issued, together with the interest thereon, are fully paid and discharged insofar as the same affects the rights of the holders of bonds issued hereunder. The state does further pledge to, and agree with, the United States that, in the event any federal agency shall construct, or contribute any funds for the completion, extension, or improvement of, the Pasco County Expressway System or any part or portion thereof, the state will not alter or limit the rights and powers of the authority and the department in any manner which would be inconsistent with the continued maintenance and operation of the Pasco County Expressway System or the completion, extension, or improvement thereof, or which would be inconsistent with the due performance of any agreements between the authority and any such federal agency, and the authority and the department shall continue to have and may exercise all powers herein granted, so long as the same shall be necessary or desirable for the carrying out of the purposes of this part and the purposes of the United States in the completion, extension, or improvement of the Pasco County Expressway System or any part or portion thereof.

History.--s. 1, ch. 73-226.

348.91  Exemption from taxation.--The effectuation of the authorized purposes of the authority created under this part is, shall, and will be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and since such authority will be performing essential governmental functions in effectuating such purposes, such authority shall not be required to pay any taxes or assessments of any kind or nature whatsoever upon any property acquired or used by it for such purposes, or upon any rates, fees, rentals, receipts, income, or charges at any time received by it, and the bonds issued by the authority, their transfer, and the income therefrom, including any profits made on the sale thereof, shall at all times be free from taxation of any kind by the state, or by any political subdivision, or taxing agency or instrumentality thereof. The exemption granted by this section shall not apply to any tax imposed by chapter 220 on interest, income, or profits on debt obligations owned by corporations.

History.--s. 1, ch. 73-226; s. 53, ch. 89-356.

348.92  Eligibility for investments and security.--Any bonds or other obligations issued pursuant to this part shall be and constitute legal investments for banks, savings banks, trustees, executors, administrators, and all other fiduciaries, and for all state, municipal, and other public funds and shall also be and constitute securities eligible for deposit as security for all state, municipal, or other public funds, notwithstanding the provisions of any other law or laws to the contrary.

History.--s. 1, ch. 73-226.

348.93  Pledges enforceable by bondholders.--It is the express intention of this part that any pledge by the department of rates, fees, revenues, Pasco County gasoline tax funds, or other funds, as rentals, to the authority, or any covenants or agreements relative thereto may be enforceable in any court of competent jurisdiction against the authority or directly against the department by any holder of bonds issued by the authority.

History.--s. 1, ch. 73-226.

348.94  This part complete and additional authority.--

(1)  The powers conferred by this part shall be in addition and supplemental to the existing powers of the board and the department, and this part shall not be construed as repealing any of the provisions of any other law, general, special, or local, but to supersede such other laws in the exercise of the powers provided in this part, and to provide a complete method for the exercise of the powers granted herein. The extension and improvement of the Pasco County Expressway System, and the issuance of bonds hereunder to finance all or part of the cost thereof, may be accomplished upon compliance with the provisions of this part without regard to or necessity for compliance with the provisions, limitations, or restrictions contained in any other general, special, or local law, and no approval of any bonds issued under this part by the qualified electors or qualified electors who are freeholders in the state, the County of Pasco, or any other political subdivision of the state shall be required for the issuance of such bonds pursuant to this part.

(2)  This part shall not be deemed to repeal, rescind, or modify any other law or laws relating to the State Board of Administration, the Department of Transportation, or the Division of Bond Finance of the State Board of Administration, but shall be deemed to, and shall, supersede such other law or laws as are inconsistent with the provisions of this part.

History.--s. 1, ch. 73-226; s. 292, ch. 92-279; s. 55, ch. 92-326.

348.9401  Short title.

348.941  Definitions.

348.942  St. Lucie County Expressway and Bridge Authority.

348.943  Purposes and powers.

348.944  Bonds.

348.945  Lease-purchase agreement.

348.946  Department may be appointed agent of division for construction.

348.947  Acquisition of lands and property.

348.948  Cooperation with other units, boards, agencies, and individuals.

348.949  Covenant of the state.

348.9495  Exemption from taxation.

348.9401  Short title.--This part shall be known and may be cited as the "St. Lucie County Expressway and Bridge Authority Law."

History.--s. 1, ch. 83-128; s. 48, ch. 99-385.

348.941  Definitions.--As used in this part, unless the context clearly indicates otherwise, the term:

(1)  "Agency of the state" means and includes this state and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, this state.

(2)  "Authority" means the St. Lucie County Expressway and Bridge Authority.

(3)  "Bonds" means and includes the notes, bonds, refunding bonds, or other evidences of indebtedness or obligations, in either temporary or definitive form, which the authority is authorized to issue pursuant to this part.

(4)  "County" means St. Lucie County.

(5)  "Department" means the Department of Transportation.

(6)  "Division" means the Division of Bond Finance of the State Board of Administration.

(7)  "Expressway" means the same as "limited access facility" as defined in s. 334.03.

(8)  "Federal agency" means and includes the United States, the President of the United States, and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the United States.

(9)  "Lease-purchase agreement" means a lease-purchase agreement which the authority is authorized to enter with the Department of Transportation pursuant to this part.

(10)  "Members" means the governing body of the authority, and "member" means one of the individuals constituting such governing body.

(11)  "St. Lucie County Expressway and Bridge System" means:

(a)  Any and all expressways in St. Lucie County and appurtenant facilities thereto, including, but not limited to, all approaches, roads, bridges, and avenues of access for such expressway or expressways; and

(b)  The Indian River Lagoon Bridge.

(12)  "St. Lucie County gasoline tax funds" means all the 80-percent surplus gasoline tax funds accruing in each year to the Department of Transportation for use in St. Lucie County under the provisions of s. 9, Art. XII of the State Constitution, after deduction only of any amounts of such gasoline tax funds heretofore pledged by the department or the county for outstanding obligations.

History.--s. 1, ch. 83-128; s. 293, ch. 92-279; s. 55, ch. 92-326; s. 49, ch. 99-385.

348.942  St. Lucie County Expressway and Bridge Authority.--

(1)  There is created and established a body politic and corporate, an agency of the state, to be known as the "St. Lucie County Expressway and Bridge Authority," hereinafter referred to as the "authority."

(2)  The authority shall have the exclusive right to exercise all those powers herein set forth; and no other entity, body, or authority, whether within or without St. Lucie County, may either directly or indirectly exercise any jurisdiction, control, authority, or power in any manner relating to any expressway and bridge system within St. Lucie County without either the express consent of the authority or as otherwise provided herein.

(3)  The governing body of the authority shall consist of nine members. Two members shall be members of the Board of County Commissioners of St. Lucie County, selected by such board, who shall serve for a period of 2 years. Two members shall be members of the City Commission of Fort Pierce, selected by such commission, who shall serve for a period of 2 years. Two members shall be members of the City Council of Port St. Lucie, selected by such council, who shall serve for a period of 2 years. A vacancy occurring among the selected members prior to the expiration of the affected term shall be filled for the unexpired term by the respective board, commission, or council. Three members shall be appointed by the Governor. Each appointed member's term of office shall be for 4 years or until a successor has been appointed and has qualified; however, for the initial membership of the newly constituted governing body, one such member shall be appointed for a term of 2 years. A vacancy occurring among the appointed members prior to the expiration of the affected term shall be filled for the unexpired term by the Governor. No person who is an officer or employee of any city or of St. Lucie County in any other capacity may be an appointed member of the authority. Each such original selection or appointment shall be made within 30 days of the effective date of this part. Any member of the authority is eligible for reappointment.

(4)  The authority shall elect one of its members as chair of the authority. The authority shall also elect a secretary and a treasurer, who may or may not be members of the authority. The chair, secretary, and treasurer shall hold such offices at the will of the authority. Five members of the authority constitute a quorum, and the affirmative vote of four members is necessary for any action taken by the authority. No vacancy in the authority shall impair the right of a quorum of the authority to exercise all of the rights and perform all of the duties of the authority.

(5)  Upon the effective date of his or her appointment, or as soon as practicable thereafter, each appointed member of the authority shall enter upon his or her duties.

(6)  The authority may employ an executive secretary, an executive director, its own counsel and legal staff, technical experts, and such engineers and such employees, permanent or temporary, as it may require; determine the qualifications and fix the compensation of such persons, firms, or corporations; and employ a fiscal agent or agents. However, the authority shall solicit sealed proposals from at least three persons, firms, or corporations for the performance of any service as a fiscal agent. The authority may delegate to one or more of its agents or employees such of its powers as it deems necessary to carry out the purposes of this part, subject always to the supervision and control of the authority.

(7)  Members of the authority are entitled to receive from the authority their travel and other necessary expenses incurred in connection with the business of the authority as provided in s. 112.061, but they may draw no salaries or other compensation.

History.--s. 1, ch. 83-128; s. 522, ch. 95-148; s. 50, ch. 99-385.

348.943  Purposes and powers.--

(1)(a)  The authority created and established by the provisions of this part is granted and shall have the right to acquire, hold, construct, improve, maintain, operate, own, and lease the St. Lucie County Expressway and Bridge System, hereinafter referred to as the "system."

(b)  It is the express intention of this part that the authority, in the construction of the system, be authorized to construct any extensions, additions, or improvements to the system or appurtenant facilities, including all necessary approaches, roads, bridges, and avenues of access, with such changes, modifications, or revisions of the project as are deemed desirable and proper.

(2)  The authority is granted, and shall have and may exercise, all powers necessary, appurtenant, convenient, or incidental to the carrying out of the aforesaid purposes, including, but not limited to, the following rights and powers:

(a)  To sue and be sued, implead and be impleaded, and complain and defend in all courts.

(b)  To adopt, use, and alter at will a corporate seal.

(c)  To acquire, purchase, hold, lease as lessee, and use any franchise or property, real, personal, or mixed, tangible or intangible, or any interest therein necessary or desirable for carrying out the purposes of the authority and to sell, lease as lessor, transfer, and dispose of any property or interest therein at any time acquired by it.

(d)  To enter into and make leases, either as lessee or as lessor, in order to carry out the right to lease as set forth in this part.

(e)  To enter into and make lease-purchase agreements with the department until any bonds secured by a pledge of rentals thereunder, and any refundings thereof, are fully paid as to both principal and interest.

(f)  To fix, alter, charge, establish, and collect tolls, rates, fees, rentals, and other charges for the services and facilities system, which tolls, rates, fees, rentals, and other charges must always be sufficient to comply with any covenants made with the holders of any bonds issued pursuant to this part. However, such right and power may be assigned or delegated by the authority to the department.

(g)1.  To borrow money as provided by the State Bond Act or, in the alternative, pursuant to the provisions of s. 348.944(3), and in either case for any purpose of the authority authorized, including the financing or refinancing of the cost of all or any part of the system.

2.  The authority shall reimburse St. Lucie County for any sums expended, together with interest at the highest rate applicable to the bonds of the authority for which the sums were required, from the St. Lucie County gasoline tax funds for payment of the bonds.

(h)  To make contracts of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business.

(i)  Without limitation of the foregoing, to borrow money and accept grants from, and to enter into contracts, leases, or other transactions with, any federal agency, the state, any agency of the state, the County of St. Lucie, or any other public body of the state.

(j)  To have the power of eminent domain, including the procedural powers granted under chapters 73 and 74.

(k)  To pledge, hypothecate, or otherwise encumber all or any part of the revenues, tolls, rates, fees, rentals, or other charges or receipts of the authority, including all or any portion of the St. Lucie County gasoline tax funds received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department, as security for all or any of the obligations of the authority.

(l)  To do all acts and things necessary or convenient for the conduct of its business and the general welfare of the authority in order to carry out the powers granted to it by this part or any other law.

(3)  Any provision in this part or any other provision of law to the contrary notwithstanding, the consent of any municipality is not necessary for any project of the authority, whether or not the project lies in whole or in part within the boundaries of the municipality. However, the officials and residents of any municipality in which any project of the authority is to be located, in whole or in part, shall be given ample opportunity to discuss the project and advise the authority as to their positions thereon at a duly advertised public hearing. Advertisement of the public hearing shall be by way of a newspaper published in St. Lucie County and circulated in the affected municipality. The legal notice and display advertisement shall be published at least 2 weeks before the public hearing and shall contain the time and place of the public hearing and a short description of the subject to be discussed. The public hearing may be adjourned from time to time and set for a time and place certain without the necessity of further advertisement. In routing and locating any expressway or its interchanges in or through a municipality, the authority shall give due regard to the effect of such location on the municipality as a whole and shall not unreasonably split, divide, or otherwise separate areas of the municipality one from the other.

History.--s. 1, ch. 83-128; s. 51, ch. 99-385.

348.944  Bonds.--

(1)  Bonds may be issued on behalf of the authority as provided by the State Bond Act.

(2)  As an alternative to subsection (1), the authority may issue its own bonds pursuant to subsection (3) in such principal amounts as, in the opinion of the authority, are necessary to provide sufficient moneys for achieving its corporate purposes, so long as such bonds do not pledge the full faith and credit of the state, St. Lucie County, or any municipality in St. Lucie County.

(3)  The bonds of the authority issued pursuant to this subsection, whether on original issuance or on refunding, shall be authorized by resolution of the members thereof and may be either term or serial bonds, shall bear such date or dates, mature at such time or times, not exceeding 40 years from their respective dates, bear interest at such rate or rates (not exceeding the maximum lawful rate), fixed or variable, be in such denominations, be in such form, carry such registration, exchangeability, and interchangeability privileges, be payable in such medium of payment and at such place or places, be subject to such terms of redemption, with or without premium, and have such rank and be entitled to such priorities on the revenues, tolls, fees, rentals, or other charges, receipts, or moneys of the authority, including any moneys received pursuant to the terms of any lease-purchase agreement between the authority and the department, as such resolution or any resolution subsequent thereto may provide. The bonds shall be executed either by manual or facsimile signature by such officers as the authority shall determine. The term "bonds" shall include all forms of indebtedness, including notes. The proceeds of any bonds shall be used for such purposes and shall be disbursed in such manner and under such restrictions, if any, as the authority may provide pursuant to resolution. The bonds may also be issued pursuant to an indenture of trust or other agreement with such trustee or fiscal agent as may be selected by the authority. The resolution, indenture of trust, or other agreement may contain such provisions securing the bonds as the authority deems appropriate. The principal of and the interest on the bonds shall be payable from such revenues, tolls, fees, rentals, or other charges, receipts, or moneys as determined by the authority pursuant to resolution. The authority may grant a lien upon and pledge such revenues, tolls, fees, rentals, or other charges, receipts, or moneys in favor of the holders of each series of bonds in the manner and to the extent provided by the authority by resolution. Such revenues, tolls, fees, rentals, or other charges, receipts, or moneys shall immediately be subject to such lien without any physical delivery thereof, and such lien shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the authority.

(4)  Bonds issued by or on behalf of the authority shall be sold at public sale in the manner provided by the State Bond Act. However, if the authority shall determine by resolution that a negotiated sale of the bonds is in the best interest of the authority, the authority may negotiate for sale of the bonds with the underwriter or underwriters designated by the division in the case of bonds issued pursuant to subsection (1) or the authority in the case of bonds issued pursuant to subsection (3). The authority shall provide a specific finding by resolution as to the reason requiring the negotiated sale. Pending the preparation of definitive bonds, interim certificates may be issued to the purchaser or purchasers of such bonds and may contain such terms and conditions as the authority may determine.

History.--s. 1, ch. 83-128; s. 52, ch. 99-385.

348.945  Lease-purchase agreement.--

(1)  In order to effectuate the purposes of this part and as authorized herein, the authority may enter into a lease-purchase agreement with the department relating to and covering the system.

(2)  The lease-purchase agreement shall provide for the leasing of the system by the authority, as lessor, to the department, as lessee, and shall prescribe the terms of such lease and the rentals to be paid thereunder.

(3)  The lease-purchase agreement may include such other provisions, agreements, and covenants as the authority and the department deem advisable or required, including, but not limited to, provisions as to the bonds to be issued under and for the purposes of this part; the completion, extension, improvement, operation, and maintenance of the system and the expenses and cost of operation of the authority; the charging and collection of tolls, rates, fees, rentals, or other charges for the use of the services and facilities thereof; the application of federal or state grants or aid which may be made or given to assist the authority in the completion, extension, improvement, operation, and maintenance of the system, which the authority is authorized to accept and apply to such purposes; the enforcement of payment and collection of tolls, rates, fees, and rentals; and any other terms, provisions, or covenants necessary, incidental, or appurtenant to the making of, and full performance under, such lease-purchase agreement.

(4)  The department, as lessee under such lease-purchase agreement, is authorized to pay, as rentals thereunder, any tolls, rates, fees, charges, funds, moneys, receipts, or income accruing to the department from the operation of the system and from the St. Lucie County gasoline tax funds and may also pay, as rentals, any appropriations received by the department pursuant to any act of the Legislature of the state heretofore or hereafter enacted wherein the appropriations are expressly authorized to be used as rentals for the system.

(5)  No pledge of St. Lucie County gasoline tax funds as rentals under such lease-purchase agreement may be made without the consent of St. Lucie County, evidenced by a resolution duly adopted by the board of county commissioners of the county at a public hearing held pursuant to due notice thereof published in a newspaper of general circulation in the county at least once a week for 3 consecutive weeks before the hearing. The resolution, among other things, must provide that any excess of the pledged gasoline tax funds which is not required for debt service, or reserves for such debt service, for any bonds issued by the authority be returned annually to the department for distribution to St. Lucie County as provided by law.

(6)  The department has the power to covenant in any lease-purchase agreement that it will pay all or any part of the cost of the operation or maintenance of the system.

(7)  The system shall be a part of the State Highway System as defined in s. 334.03; and the department is authorized, upon the request of the authority, to expend, out of any funds available for the purpose, such moneys, and to use such of its engineering and other forces as may be necessary and desirable in the judgment of the department, for the operation of the authority and for traffic surveys, borings, surveys, preparation of plans and specifications, estimates of cost, and other preliminary engineering and other studies.

History.--s. 1, ch. 83-128.

348.946  Department may be appointed agent of division for construction.--The department may be appointed by the division as its agent for the purpose of constructing improvements and extensions to the system and for the completion thereof. In such event, the division shall provide the department with complete copies of all documents, agreements, resolutions, contracts, and instruments relating thereto; shall request the department to do such construction work, including the planning, surveying, and actual construction of the completion, extensions, and improvements to the system; and shall transfer to the credit of an account of the department in the State Treasury the necessary funds therefor. The department shall thereupon be authorized, empowered, and directed to proceed with such construction and to use the funds for such purpose in the same manner as it is now authorized to use the funds otherwise provided by law for its use in the construction of roads and bridges.

History.--s. 1, ch. 83-128.

348.947  Acquisition of lands and property.--

(1)  For the purposes of this part, the authority may acquire private or public property and property rights, including rights of access, air, view, and light, by gift, devise, purchase, or condemnation by eminent domain proceedings, as the authority may deem necessary. The right of eminent domain herein conferred shall be exercised by the authority in the manner provided by law.

(2)  In connection with the acquisition of property or property rights as herein provided, the authority may, in its discretion, acquire an entire lot, block, or tract of land if, by so doing, the interests of the public will be best served, even though the entire lot, block, or tract is not immediately needed for the right-of-way proper.

History.--s. 1, ch. 83-128.

348.948  Cooperation with other units, boards, agencies, and individuals.--Express authority and power is given and granted to any county, municipality, drainage district, road and bridge district, school district, or other political subdivision, board, commission, or individual in or of this state to make and enter into contracts, leases, conveyances, or other agreements within the provisions and purposes of this part with the authority. The authority is expressly authorized to make and enter into contracts, leases, conveyances, and other agreements, to the extent consistent with chapters 334, 335, 338, and 339 and other provisions of the laws of this state and with 23 U.S.C. ss. 101 et seq., with any political subdivision, agency, or instrumentality of this state and any and all federal agencies, corporations, and individuals, for the purpose of carrying out the provisions of this part.

History.--s. 1, ch. 83-128; s. 115, ch. 99-385.

348.949  Covenant of the state.--The state does hereby pledge to, and agrees with, any person, firm, corporation, or federal or state agency subscribing to or acquiring the bonds to be issued by the authority for the purposes of this part that the state will not limit or alter the rights hereby vested in the authority and the department until all bonds at any time issued, together with the interest thereon, are fully paid and discharged, insofar as the same affects the rights of the holders of bonds issued hereunder. The state does further pledge to, and agrees with, the United States that, in the event any federal agency constructs, or contributes any funds for the completion, extension, or improvement of, the system or any part or portion thereof, the state will not alter or limit the rights and powers of the authority and the department in any manner which would be inconsistent with the continued maintenance and operation of the system or the completion, extension, or improvement thereof or which would be inconsistent with the due performance of any agreement between the authority and any such federal agency, and the authority and the department shall continue to have and may exercise all powers herein granted so long as the same shall be necessary or desirable for carrying out the purposes of this part and the purposes of the United States in the completion, extension, or improvement of the system or any part or portion thereof.

History.--s. 1, ch. 83-128.

348.9495  Exemption from taxation.--The effectuation of the authorized purposes of the authority created under this part is, shall, and will be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and, since such authority will be performing essential governmental functions in effectuating such purposes, such authority shall not be required to pay any taxes or assessments of any kind or nature whatsoever upon any property acquired or used by it for such purposes or upon any tolls, fees, rentals, receipts, moneys, or charges at any time received by it, and the bonds issued by the authority, their transfer, and the income therefrom, including any profits made on the sale thereof, shall at all times be free from taxation of any kind by the state or by any political subdivision, taxing agency, or instrumentality thereof. The exemption granted by this section shall not be applicable to any tax imposed by chapter 220 on interest, income, or profits on debt obligations owned by corporations.

History.--s. 53, ch. 99-385.

348.95  Short title.

348.951  Definitions.

348.952  Seminole County Expressway Authority.

348.953  Purposes and powers.

348.954  Bonds.

348.955  Lease-purchase agreement.

348.956  Department may be appointed agent of authority for construction.

348.957  Acquisition of lands and property.

348.958  Cooperation with other units, boards, agencies, and individuals.

348.959  Covenant of the state.

348.96  Exemption from taxation.

348.961  Eligibility for investments and security.

348.962  Pledges enforceable by bondholders.

348.963  This part complete and additional authority.

348.95  Short title.--This part shall be known and may be cited as the "Seminole County Expressway Authority Law."

History.--s. 1, ch. 74-375.

348.951  Definitions.--As used in this part, unless the context clearly indicates otherwise:

(1)  The term "agency of the state" means and includes the state and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the state.

(2)  The term "authority" means the Seminole County Expressway Authority.

(3)  The term "bonds" means and includes the notes, bonds, refunding bonds, or other evidences of indebtedness or obligations, in either temporary or definitive form, which the authority is authorized to issue pursuant to this part.

(4)  The term "county" means the County of Seminole.

(5)  The term "department" means the Department of Transportation existing under chapters 334-339.

(6)  The term "expressway" means the same as limited access expressway.

(7)  The term "federal agency" means and includes the United States, the President of the United States, and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the United States.

(8)  The term "lease-purchase agreement" means lease-purchase agreements which the authority is authorized pursuant to this part to enter into with the Department of Transportation.

(9)  The term "limited access expressway" means a street or highway especially designed for through traffic and over, from, or to which no person shall have the right of easement, use, or access except in accordance with the rules and regulations promulgated and established by the authority for the use of such facility. Such highways or streets may be parkways from which trucks, buses, and other commercial vehicles are excluded, or they may be freeways open to use by all customary forms of street and highway traffic.

(10)  The term "members" means the governing body of the authority, and the term "member" means one of the individuals constituting such governing body.

(11)  The term "Seminole County Expressway System" means any and all expressways and appurtenant facilities thereto, including, but not limited to, all approaches, roads, bridges, and avenues of access for such expressway or expressways.

(12)  The term "Seminole County gasoline tax funds" means all the 80-percent surplus gasoline tax funds accruing in each year to the Department of Transportation for use in Seminole County under the provisions of s. 9, Art. XII of the State Constitution, or all such constitutional gas funds as may otherwise be provided now or hereafter by the constitution or by statute for use in Seminole County, after deduction only of any amounts of such gasoline tax funds heretofore pledged by the Department of Transportation or the county for outstanding obligations.

(13)  The term "State Board of Administration" means the body corporate existing under the provisions of s. 9, Art. XII of the State Constitution or any successor thereto.

(14)  Words importing singular number include the plural number in each case and vice versa, and words importing persons include firms and corporations.

History.--s. 1, ch. 74-375; s. 104, ch. 77-104; s. 51, ch. 83-3.

348.952  Seminole County Expressway Authority.--

(1)  There is hereby created and established a body politic and corporate, an agency of the state, to be known as the Seminole County Expressway Authority, hereinafter referred to as "authority."

(2)  Said authority shall have exclusive right to exercise all those powers herein set forth, and no other entity, body, or authority, whether within or without Seminole County, shall either directly or indirectly exercise any jurisdiction, control, authority, or power in any manner relating to any expressway system within Seminole County without either the express consent of the authority or as otherwise provided herein.

(3)  The governing body of the authority shall consist of seven members. Five members shall be the members of the Board of County Commissioners of Seminole County, and the term of each such member shall be concomitant with his or her term as a county commissioner. Two members shall be appointed by the board of county commissioners from among the duly elected municipal officers within the county, and said municipal members shall, unless reappointed, serve 2-year terms. Said 2-year terms shall run from the date of appointment and shall automatically terminate should any such member cease to be a duly elected municipal officer. Municipal membership vacancies shall be filled within 45 days of the occurrence of such vacancy by the board of county commissioners, and in the event that two-thirds of the municipalities within the county shall within 30 days of any such vacancy jointly recommend to the board of county commissioners any individual to fill such vacancy, said board must appoint the individual so recommended.

(4)  The authority shall elect one of its members as chair of the authority. The authority shall also elect a secretary and a treasurer, who may or may not be members of the authority. The chair, secretary, and treasurer shall hold such offices at the will of the authority. Four members of the authority shall constitute a quorum, and the vote of three members shall be necessary for any action taken by the authority. No vacancy in the authority shall impair the right of a quorum of the authority to exercise all of the rights and perform all of the duties of the authority.

(5)  Upon the effective date of his or her appointment, or as soon thereafter as practicable, each appointed member of the authority shall enter upon his or her duties.

(6)  The authority may employ an executive secretary, an executive director, its own counsel and legal staff, technical experts, and such engineers and such employees, permanent or temporary, as it may require; determine the qualifications and fix the compensation of such persons, firms, or corporations; and employ a fiscal agent or agents. However, the authority shall solicit sealed proposals from at least three persons, firms, or corporations for the performance of any services as fiscal agents. The authority may delegate to one or more of its agents or employees such of its powers as it shall deem necessary to carry out the purposes of this part, subject always to the supervision and control of the authority.

(7)  Members of the authority shall be entitled to receive from the authority their travel and other necessary expenses incurred in connection with the business of the authority as provided in s. 112.061, but they shall draw no salaries or other compensation.

History.--s. 1, ch. 74-375; s. 7, ch. 91-49; s. 523, ch. 95-148.

348.953  Purposes and powers.--

(1)(a)  The authority created and established by the provisions of this part is hereby granted and shall have the right to acquire, hold, construct, improve, maintain, operate, own, and lease in the capacity of lessor the Seminole County Expressway System, hereinafter referred to as "system."

(b)  It is the express intention of this part that said authority, in the construction of the Seminole County Expressway System, shall be authorized to construct any extensions, additions, or improvements to the system or appurtenant facilities, including all necessary approaches, roads, bridges, and avenues of access, with such changes, modifications, or revisions of the project as shall be deemed desirable and proper.

(2)  The authority is hereby granted, and shall have and may exercise, all powers necessary, appurtenant, convenient, or incidental to the carrying out of the aforesaid purposes, including, but without being limited to, the following rights and powers:

(a)  To sue and be sued, implead and be impleaded, and complain and defend in all courts;

(b)  To adopt, use, and alter at will a corporate seal;

(c)  To acquire, purchase, hold, lease as lessee, and use any franchise or property, real, personal, or mixed, tangible or intangible, or any interest therein necessary or desirable for carrying out the purposes of the authority and to sell, lease as lessor, transfer, and dispose of any property or interest therein at any time acquired by it;

(d)  To enter into and make leases for terms not exceeding 40 years, as either lessee or lessor, in order to carry out the right to lease as set forth in this part;

(e)  To enter into and make lease-purchase agreements with the department for terms not exceeding 40 years or until any bonds secured by a pledge of rentals thereunder, and any refundings thereof, are fully paid as to both principal and interest, whichever is longer;

(f)  To fix, alter, charge, establish, and collect rates, fees, rentals, and other charges for the services and facilities of the Seminole County Expressway System, which rates, fees, rentals, and other charges shall always be sufficient to comply with any covenants made with the holders of any bonds issued pursuant to this part; however, such right and power may be assigned or delegated by the authority to the department;

(g)1.  To borrow money as provided by the State Bond Act.

2.  The authority shall reimburse Seminole County for any sums expended from the Seminole County gasoline tax funds and any other revenues provided to the authority by Seminole County and used for the payment of such obligations. Any such Seminole County revenues or gasoline tax funds so disbursed shall be repaid when the authority deems it practicable, together with interest at the highest rate applicable to any obligations of the authority for which funds or revenues were used to pay debt service.

3.  The authority may hire and retain independent certified public accountants and auditors to audit the books and records of the authority and the department with respect to the Seminole County Expressway System or any part thereof, so long as any bonds of the authority are outstanding;

(h)  To make contracts of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business;

(i)  Without limitation of the foregoing, to borrow money and accept grants from, and to enter into contracts, leases, or other transactions with, any federal agency, the state, any agency of the state, the County of Seminole, or any other public body of the state;

(j)  To have the power of eminent domain, including the procedural powers granted under chapters 73 and 74;

(k)  To pledge, hypothecate, or otherwise encumber all or any part of the revenues, rates, fees, rentals, or other charges or receipts of the authority, including all or any portion of the Seminole County gasoline tax funds or other revenues received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department or any other agreement between the authority and Seminole County, as security for all or any of the obligations of the authority;

(l)  To do all acts and things necessary or convenient for the conduct of its business and the general welfare of the authority in order to carry out the powers granted to it by this part or any other law; and

(m)  The authority may employ fiscal agents as provided by this part or the State Board of Administration may upon request of the authority act as fiscal agent for the authority in the issuance of any bonds which may be issued pursuant to this part, and the State Board of Administration may upon request of the authority take over the management, control, administration, custody, and payment of any or all debt services or funds or assets now or hereafter available for any bonds issued pursuant to this part. The authority may enter into deeds of trust, indentures, resolutions, and other agreements with its fiscal agent, financial institution, insurance company, and with any bank or trust company within or without the state, as security for such bonds, and may, under such agreements, sign and pledge all or any of the revenues, rates, fees, rentals, or other charges or receipts of the authority, including all or any portion of the Seminole County gasoline tax funds or other revenues received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department or any other agreement between the authority and Seminole County, thereunder. Such deed of trust, indenture, resolution, or other agreement may contain such provisions as are customary in such instruments, or, as the authority may authorize, include, without limitation, provisions as to:

1.  The completion, improvement, operation, extension, maintenance, repair, and lease of, or lease-purchase agreement relating to the Seminole County Expressway System, and the duties of the authority and others including the department with reference thereto.

2.  The availability and application of funds and the safeguarding of funds on hand or on deposit.

3.  The rights and remedies of the trustee and the holders of the bonds and any institution providing liquidity or credit support for the bonds.

4.  The terms and provisions of the bonds or the resolutions authorizing the issuance of same.

5.  The terms and conditions pursuant to which the authority or any trustee for the bonds shall be entitled to receive any revenues from Seminole County to pay the principal of or interest on the bonds.

(3)  The authority shall have no power at any time or in any manner to pledge the credit or taxing power of the state or any political subdivision or agency thereof, including the County of Seminole; nor shall any of the authority's obligations be deemed to be obligations of the state or of any political subdivision or agency thereof; nor shall the state or any political subdivision or agency thereof, except the authority, be liable for the payment of the principal of or interest on such obligations; however, Seminole County gas tax funds or other revenues may be pledged for the payment of the principal of or interest on such obligations pursuant to the terms of any lease-purchase agreement between the authority and the department or any other agreement between the authority and Seminole County.

(4)  Anything in this part or any other provision of the law to the contrary notwithstanding, the consent of any municipality shall not be necessary for any project of the authority, whether or not the project lies within the boundaries of any municipality, either in whole or in part. However, the officials and residents of any municipality in which any project of the authority is to be located, in whole or in part, shall be given ample opportunity to discuss the project and advise the authority as to their position thereon at a duly advertised public hearing. Advertisement of the public hearing shall be by way of a newspaper published in Seminole County and circulated in the affected municipalities. The legal advertisement shall be published once at least 2 weeks prior to the public hearing and shall contain the time and place of the public hearing and a short description of the subject to be discussed. The public hearing may be adjourned from time to time and set for a time and place certain without necessity of further advertisement. In routing and locating any expressway or its interchanges in or through a municipality, the authority shall give due regard to the effect of such location on the municipality as a whole and shall not unreasonably split, divide, or otherwise separate areas of the municipality one from the other.

History.--s. 1, ch. 74-375; s. 4, ch. 90-227.

348.954  Bonds.--Bonds may be issued on behalf of the authority as provided by the State Bond Act.

History.--s. 1, ch. 74-375.

348.955  Lease-purchase agreement.--

(1)  In order to effectuate the purposes of this part and as authorized herein, the authority may enter into a lease-purchase agreement with the department relating to and covering the Seminole County Expressway System.

(2)  The lease-purchase agreement shall provide for the leasing of the Seminole County Expressway System by the authority, as lessor, to the department, as lessee; shall prescribe the term of such lease and the rentals to be paid thereunder; and shall provide that upon the completion of the faithful performance thereunder and the termination of such lease-purchase agreement, title in fee simple absolute to the Seminole County Expressway System, as then constituted, shall be transferred in accordance with law by the authority to the state, and the authority shall deliver to the department such deeds and conveyances as shall be necessary or convenient to vest title in fee simple absolute in the state.

(3)  The lease-purchase agreement may include such other provisions, agreements, and covenants as the authority and the department deem advisable or required, including, but not limited to, provisions as to the bonds to be issued under and for the purposes of this part; the completion, extension, improvement, operation, and maintenance of the Seminole County Expressway System and the expenses and the cost of operation of the authority and said system; the charging and collection of tolls, rates, fees, and other charges for the use of the services and facilities thereof; the application of federal or state grants or aid which may be made or given to assist the authority in the completion, extension, improvement, operation, and maintenance of the Seminole County Expressway System, which the authority is hereby authorized to accept and apply to such purposes; the enforcement of payment and collection of rentals; and any other terms, provisions, or covenants necessary, incidental, or appurtenant to the making of, and full performance under, such lease-purchase agreement.

(4)  The department, as lessee under such lease-purchase agreement, is hereby authorized to pay, as rentals thereunder, any rates, fees, charges, funds, moneys, receipts, or income accruing to the department from the operation of the Seminole County Expressway System and the Seminole County gasoline tax funds or other Seminole County revenues used to pay the principal of or interest on any obligations issued to finance any portion of the system and may also pay, as rentals, any appropriations received by the department pursuant to any act of the Legislature of the state heretofore or hereafter enacted. Nothing herein or in such lease-purchase agreement is intended to require, nor shall this part or such lease-purchase agreement require, the making or continuance of such appropriations, nor shall any holder of bonds issued pursuant to this part ever have any right to compel the making or continuance of such appropriations.

(5)  No pledge of Seminole County gasoline tax funds or other Seminole County revenues as rentals under any such lease-purchase agreement or other agreement shall be made without the consent of Seminole County, evidenced by a resolution duly adopted by the board of county commissioners of the county at a public hearing held pursuant to due notice thereof published at least once a week for 3 consecutive weeks before the hearing in a newspaper of general circulation in the county. The resolution, among other things, shall provide that any excess of the pledged gasoline tax funds and other Seminole County revenues not required for debt service, or reserves for such debt service, for any bonds issued on behalf of the authority shall be distributed to Seminole County as provided by law. Before making any application for such pledge of gasoline tax funds, the authority shall present the plan of its proposed project to the Seminole County Planning and Zoning Commission for its comments and recommendations. The department shall have power to covenant in any lease-purchase agreement that it will pay all or any part of the cost of the system, and any part of the cost of completing the system to the extent that the proceeds of bonds issued therefor are insufficient, from sources other than the revenues derived from the operation of the system and the Seminole County gasoline tax funds or any other Seminole County revenue pledged for such purpose. The department may also agree to make such other payments from any moneys available to Seminole County, in connection with the construction or completion of the system, as shall be deemed by the department to be fair and proper under any such covenants heretofore or hereafter entered into.

(6)  The system shall be a part of the state road system, and the department is hereby authorized, upon the request of the authority, to expend, out of any funds available for the purpose, such moneys, and to use such of its engineering and other forces as may be necessary and desirable in the judgment of the department for the operation of the authority and for traffic surveys, borings, surveys, preparation of plans and specifications, estimates of cost, and other preliminary engineering and other studies. However, the aggregate amount of moneys expended for said purpose by the department shall not exceed the sum of $500,000.

History.--s. 1, ch. 74-375; s. 5, ch. 90-227.

348.956  Department may be appointed agent of authority for construction.--The department may be appointed by the authority as its agent for the purpose of constructing improvements and extensions to the Seminole County Expressway System and for the completion thereof. In such event, the authority shall provide the department with complete copies of all documents, agreements, resolutions, contracts, and instruments relating thereto, shall request the department to do such construction work, including the planning, surveying, and actual construction of the completion, extensions, and improvements to the Seminole County Expressway System, and shall transfer to the credit of an account of the department in the treasury of the state the necessary funds therefor; and the department shall thereupon be authorized, empowered, and directed to proceed with such construction and to use the funds for such purpose in the same manner that it is now authorized to use the funds otherwise provided by law for its use in construction of roads and bridges.

History.--s. 1, ch. 74-375.

348.957  Acquisition of lands and property.--

(1)  For the purposes of this part, the Seminole County Expressway Authority may acquire private or public property and property rights, including rights of access, air, view, and light, by gift, devise, purchase, or condemnation by eminent domain proceedings, as the authority may deem necessary for any of the purposes of this part, including, but not limited to, any lands reasonably necessary for securing applicable permits, areas necessary for management of access, borrow pits, drainage ditches, water retention areas, rest areas, replacement access for landowners whose access is impaired due to the construction of a facility, and replacement rights-of-way for relocated rail and utility facilities; for existing, proposed, or anticipated transportation facilities on the Seminole County Expressway System or in a transportation corridor designated by the authority; or for the purposes of screening, relocation, removal, or disposal of junkyards and scrap metal processing facilities. The authority shall also have the power to condemn any material and property necessary for such purposes.

(2)  The right of eminent domain herein conferred shall be exercised by the authority in the manner provided by law.

(3)  When the authority acquires property for a transportation facility or in a transportation corridor, it is not subject to any liability imposed by chapter 376 or chapter 403 for preexisting soil or groundwater contamination due solely to its ownership. This section does not affect the rights or liabilities of any past or future owners of the acquired property nor does it affect the liability of any governmental entity for the results of its actions which create or exacerbate a pollution source. The authority and the Department of Environmental Protection may enter into interagency agreements for the performance, funding, and reimbursement of the investigative and remedial acts necessary for property acquired by the authority.

History.--s. 1, ch. 74-375; s. 1, ch. 89-240; s. 181, ch. 94-356; s. 64, ch. 99-385.

348.958  Cooperation with other units, boards, agencies, and individuals.--Express authority and power is hereby given and granted any county, municipality, drainage district, road and bridge district, school district, or any other political subdivision, board, commission, or individual in or of the state to make and enter into contracts, leases, conveyances, or other agreements within the provisions and purposes of this part with the authority. The authority is hereby expressly authorized to make and enter into contracts, leases, conveyances, and other agreements with any political subdivision, agency, or instrumentality of the state and any and all federal agencies, corporations, and individuals for the purpose of carrying out the provisions of this part.

History.--s. 1, ch. 74-375.

348.959  Covenant of the state.--The state does hereby pledge to, and agrees with, any person, firm, corporation, or federal or state agency subscribing to or acquiring the bonds to be issued by the authority for the purpose of this part that the state will not limit or alter the rights hereby vested in the authority and the department until all bonds at any time issued, together with the interest thereon, are fully paid and discharged, insofar as the same affects the rights of the holders of bonds issued hereunder. The state does further pledge to, and agrees with, the United States that, in the event any federal agency shall construct, or contribute any funds for the completion, extension, or improvement of, the Seminole County Expressway System or any part or portion thereof, the state will not alter or limit the rights and powers of the authority and the department in any manner which would be inconsistent with the continued maintenance and operation of the Seminole County Expressway System or the completion, extension, or improvement thereof, or which would be inconsistent with the due performance of any agreements between the authority and any such federal agency, and the authority and the department shall continue to have and may exercise all powers herein granted so long as the same shall be necessary or desirable for carrying out the purposes of this part and the purposes of the United States in the completion, extension, or improvements of the Seminole County Expressway System or any part or portion thereof.

History.--s. 1, ch. 74-375.

348.96  Exemption from taxation.--The effectuation of the authorized purposes of the authority created under this part is, shall, and will be, in all respects, for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and since such authority will be performing essential governmental functions in effectuating such purposes, the authority shall not be required to pay any taxes or assessments of any kind or nature whatsoever upon any property acquired or used by it for such purposes, or upon any rates, fees, rentals, receipts, income, or charges at any time received by it, and the bonds issued by the authority, and their transfer, and the income therefrom, including any profits made on the sale thereof, shall at all times be free from taxation of any kind by the state or any political subdivision, taxing agency, or instrumentality thereof. However, the exemption granted by this section shall not be applicable to any tax imposed by chapter 220, on interest, income, or profits on debt obligations owned by corporations. When property of the authority is leased it shall be exempt from ad valorem taxes only if the use by the lessee qualifies the property for exemption under s. 196.199.

History.--s. 1, ch. 74-375.

348.961  Eligibility for investments and security.--Any bonds or other obligations issued pursuant to this part shall be and constitute legal investments for banks, savings banks, trustees, executors, administrators, and all other fiduciaries, and for all state, municipal, and other public funds, and shall also be and constitute securities eligible for deposit as security for all state, municipal, or other public funds, notwithstanding the provisions of any other law or laws to the contrary.

History.--s. 1, ch. 74-375.

348.962  Pledges enforceable by bondholders.--It is the express intention of this part that any pledge by the department of rates, fees, revenues, Seminole County gasoline tax funds, or other funds, as rentals, to the authority, or any covenants or agreements relative thereto, may be enforceable in any court of competent jurisdiction against the authority or directly against the department by any holder of bonds issued by the authority.

History.--s. 1, ch. 74-375.

348.963  This part complete and additional authority.--

(1)  The powers conferred by this part shall be in addition and supplemental to the existing powers of the board and the department, and this part shall not be construed as repealing any of the provisions of any other law, general, special, or local, but as superseding such other laws in the exercise of the powers provided in this part and as providing a complete method for the exercise of the powers granted herein. The extension and improvement of the Seminole County Expressway System, and the issuance of bonds hereunder to finance all or part of the cost thereof, may be accomplished upon compliance with the provisions of this part without regard to or necessity for compliance with the provisions, limitations, or restrictions contained in any other general, special, or local law, and no approval of any bonds issued under this part by the qualified electors or qualified electors who are freeholders in the state, in the County of Seminole, or in any other political subdivision of the state shall be required for the issuance of such bonds pursuant to this part.

(2)  This part shall not be deemed to repeal, rescind, or modify any other law or laws relating to the State Board of Administration, the Department of Transportation, or the Division of Bond Finance of the State Board of Administration, but shall be deemed to supersede such other law or laws as are inconsistent with the provisions of this part.

History.--s. 1, ch. 74-375; s. 294, ch. 92-279; s. 55, ch. 92-326.

348.965  Short title.

348.966  Definitions.

348.967  Santa Rosa Bay Bridge Authority.

348.968  Purposes and powers.

348.969  Bonds.

348.97  Lease-purchase agreement.

348.971  Department may be appointed agent of authority for construction.

348.972  Acquisition of lands and property.

348.973  Cooperation with other units, boards, agencies, and individuals.

348.974  Covenant of the state.

348.9751  Remedies; pledges enforceable for bondholders.

348.9761  Exemption from taxation.

348.9771  Eligibility for investments and security.

348.9781  This part complete and additional authority.

348.965  Short title.--This part shall be known and may be cited as the "Santa Rosa Bay Bridge Authority Law."

History.--s. 1, ch. 84-354.

348.966  Definitions.--As used in this part, unless the context clearly indicates otherwise, the term:

(1)  "Agency of the state" means and includes this state and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, this state.

(2)  "Authority" means the Santa Rosa Bay Bridge Authority.

(3)  "Bonds" means and includes the notes, bonds, refunding bonds, or other evidences of indebtedness or obligations, in either temporary or definitive form, which the authority is authorized to issue pursuant to this part.

(4)  "County" means Santa Rosa County.

(5)  "Department" means the Department of Transportation.

(6)  "Division" means the Division of Bond Finance of the State Board of Administration.

(7)  "Federal agency" means and includes the United States, the President of the United States, and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated, or established by, the United States.

(8)  "Lease-purchase agreement" means a lease-purchase agreement which the authority is authorized to enter with the Department of Transportation pursuant to this part.

(9)  "Members" means the governing body of the authority, and "member" means one of the individuals constituting such governing body.

(10)  "Receipts" means all tolls, revenues, rates, fees, charges, rentals, contributions, grants, advances, and other sums or receipts of the authority derived from any source whatsoever, including amounts received pursuant to any lease-purchase agreement between the authority and the department and amounts received as a result of any arrangement entered into by the authority pursuant to s. 348.973.

(11)  "Santa Rosa Bay Bridge System" means a bridge between Red Fish Point on the mainland and Garcon Point on the cape, which may include an eventual connection to Santa Rosa Island, together with any and all appurtenant facilities, approaches, and avenues of access.

History.--s. 1, ch. 84-354; s. 136, ch. 92-152; s. 295, ch. 92-279; s. 55, ch. 92-326.

348.967  Santa Rosa Bay Bridge Authority.--

(1)  There is created and established a body politic and corporate, an agency of the state, to be known as the "Santa Rosa Bay Bridge Authority," hereinafter referred to as the "authority."

(2)(a)  The governing body of the authority shall consist of seven members. Three members shall be appointed by the Governor and three members shall be appointed by the Board of County Commissioners of Santa Rosa County, none of whom shall be an elected official at the time of his or her appointment. The six members appointed by the Governor and the board of county commissioners shall be permanent residents of Santa Rosa County at all times during their terms of office. The seventh member shall be the district secretary of the Department of Transportation serving in the district that contains Santa Rosa County. The term of each appointed member shall be for 4 years. The district secretary shall serve ex officio. A vacancy occurring during a term shall be filled only for the balance of the unexpired term. Any member of the authority is eligible for reappointment.

(b)  Upon the effective date of his or her appointment, or as soon as practicable thereafter, each appointed member of the authority shall enter upon his or her duties.

(c)  Each member of the authority, before entering upon his or her official duties, shall take and subscribe to an oath, before some official authorized by law to administer oaths, that he or she will faithfully, honestly, and impartially perform the duties devolving upon him or her in office as a member of the governing body of the authority and that he or she will not neglect any duty imposed upon him or her by this part.

(d)  A member of the authority may be removed from office by the Governor for misconduct, malfeasance, misfeasance, or nonfeasance in office.

(3)  The authority shall elect one of its members as chair of the authority. The authority shall also elect a secretary and a treasurer who may or may not be members of the authority. The chair, secretary, and treasurer shall hold such offices at the will of the authority.

(4)  Four members of the authority constitute a quorum. In all cases, an affirmative vote of at least four members present at a given meeting is necessary for any action taken by the authority. No vacancy in the authority shall impair the right of a quorum of the authority to exercise all of the rights and perform all of the duties of the authority.

(5)  The authority may employ an executive secretary, an executive director, its own counsel and legal staff, technical experts, and such engineers and such employees, permanent or temporary, as it may require; determine the qualifications and fix the compensation of such persons, firms, or corporations; and employ a fiscal agent or agents. The authority may delegate to one or more of its agents or employees such of its powers as it deems necessary to carry out the purposes of this part, subject always to the supervision and control of the authority.

(6)  Members of the authority are entitled to receive from the authority travel and other necessary expenses incurred in connection with the business of the authority, as provided in s. 112.061, but they may draw no salaries or other compensation.

History.--s. 1, ch. 84-354; s. 10, ch. 88-215; s. 524, ch. 95-148; s. 17, ch. 97-100.

348.968  Purposes and powers.--

(1)(a)  The authority created and established by the provisions of this part is granted and shall have the right to acquire, hold, construct, improve, maintain, operate, own, and lease all or any part of the Santa Rosa Bay Bridge System, hereinafter referred to as the "system."

(b)  It is the express intention of this part that the authority, in the construction of the system, be authorized to construct any extensions, additions, or improvements to the system or appurtenant facilities, including all necessary approaches and avenues of access, with such changes, modifications, or revisions of the project as are deemed desirable and proper.

(2)  The authority is granted, and shall have and may exercise, all powers necessary, appurtenant, convenient, or incidental to the carrying out of said purposes, including, but not limited to, the following rights and powers:

(a)  To sue and be sued, implead and be impleaded, and complain and defend in all courts.

(b)  To adopt, use, and alter at will a corporate seal.

(c)  To acquire, purchase, hold, lease as lessee, and use any franchise or property, real, personal, or mixed, tangible or intangible, or any interest therein necessary or desirable for carrying out the purposes of the authority and to sell, lease as lessor, transfer, and dispose of any property or interest therein at any time acquired by it.

(d)  To enter into and make leases, either as lessee or as lessor, in order to carry out the right to lease as set forth in this part.

(e)  To enter into and make lease-purchase agreements with the department as provided herein.

(f)  To fix, alter, charge, establish, and collect tolls, rates, fees, rentals, and other charges for the services and facilities of the system, which tolls, rates, fees, rentals, and other charges must always be sufficient to comply with any covenants made with the holders of any bonds issued pursuant to this part. However, such right and power may be assigned or delegated by the authority to the department.

(g)  To borrow money and make and issue bonds, which bonds may be issued pursuant to the State Bond Act or, in the alternative, pursuant to the provisions of s. 348.969(2), in either case, for any purpose of the authority authorized, including the financing of all or part of the cost, as specified in s. 190.003(7), of all or any part of the system and the refunding of any and all previous issues of bonds of the authority at or prior to maturity.

(h)  To make contracts of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business, including entering into contracts for the services of consultants to perform planning, engineering, legal, or other appropriate services of a professional nature, subject to the requirements of applicable law relating to public bidding.

(i)  Without limitation of the foregoing, to borrow money and accept grants from, and to enter into contracts, including interlocal agreements, leases, or other transactions, with any federal agency, the state, or any political subdivision thereof, any agency of the state, Santa Rosa County, or any other public body of the state, including pursuant to s. 348.973. For purposes of the foregoing, the authority shall have the right to apply for, receive, and participate in, any and all grants, advances, and technical support provided by any federal agency or the department, the division, the county, or other political subdivision, agency, or instrumentality of the state to local governmental entities, special districts, expressway or transportation authorities, road and bridge districts, special road and bridge districts, metropolitan transportation authorities, and other public subdivisions, agencies, and instrumentalities of the state pursuant to the Florida Transportation Code, in connection with the State Highway System or otherwise.

(j)  To have the power of eminent domain, including the procedural powers granted under chapters 73 and 74.

(k)  To pledge, hypothecate, or otherwise encumber all or any part of its receipts as security for all or any of the obligations of the authority.

(l)  To do all acts and things necessary or convenient for the conduct of its business and the general welfare of the authority in order to carry out the powers granted to it by this part or any other law.

(3)  Any provision in this part or any other provision of law to the contrary notwithstanding, the consent of any municipality is not necessary for any project of the authority, whether or not the project lies in whole or in part within the boundaries of the municipality. However, the officials and residents of any municipality in which any project of the authority is to be located, in whole or in part, shall be given ample opportunity to discuss the project and advise the authority as to their positions thereon at a duly advertised public hearing. Advertisement of the public hearing shall be by way of a newspaper published in Santa Rosa County and circulated in the affected municipality. The legal notice and display advertisement shall be published at least 2 weeks before the public hearing and shall contain the time and place of the public hearing and a short description of the subject to be discussed. The public hearing may be adjourned from time to time and set for a time and place certain without the necessity of further advertisement. In routing and locating any expressway or its interchanges in or through a municipality, the authority shall give due regard to the effect of such location on the municipality as a whole and shall not unreasonably split, divide, or otherwise separate areas of the municipality one from the other.

History.--s. 1, ch. 84-354; s. 4, ch. 91-142; s. 137, ch. 92-152.

348.969  Bonds.--

(1)  Bonds may be issued on behalf of the authority as provided by the State Bond Act. In the alternative, the authority may issue bonds pursuant to the provisions of subsection (2).

(2)(a)  Bonds of the authority issued pursuant to the provisions of this subsection, whether on original issuance or on refunding, shall be authorized by one or more resolutions of the members, which resolutions may be adopted at the same meeting at which they are introduced. Bonds of the authority so authorized may be issued in one or more series, may be either term or serial bonds, and shall bear such date or dates, be payable on demand or mature at such time or times (not to exceed 40 years from their respective dates), bear interest, fixed or variable, at such rate or rates not exceeding the maximum lawful interest rate, be in such denominations, be in such form (either coupon or fully registered), carry such registration, replacement, or exchangeability privileges, be payable in such medium of payment and at such place or places, be subject to such terms of redemption, with or without premium, have such rank and be entitled to such priorities on the receipts of the authority as the authority may determine. The bonds shall be executed either by manual or facsimile signature by such officers as the authority shall determine, provided such bonds bear at least one signature which is manually executed thereon for the purpose of authenticating same, which manual signature may be that of an authorized officer of the trustee for such bonds, and the coupons attached to such bonds shall bear the facsimile signature or signatures of such officer or officers as are designated by the authority and shall have the seal of the authority affixed, imprinted, reproduced, or lithographed thereon, all as may be prescribed in such resolution or resolutions. In case any officer whose signature or facsimile signature appears on any bonds or coupons ceases to be such officer before delivery of such bonds or coupons, such signature or facsimile signature shall nevertheless be valid and sufficient for all purposes as fully and to the same extent as if such officer had remained in office until such delivery.

(b)  Such bonds shall be sold at public or private sale at such price or prices as the authority determines to be in its best interest, except that the interest costs to the authority on such bonds may not exceed the maximum lawful interest rate. Pending the preparation of definitive bonds, interim certificates may be issued to the purchaser or purchasers of such bonds and may contain such terms and conditions as the authority may determine.

(c)  Any such resolution or resolutions authorizing any bonds hereunder may contain provisions, and valid and legally binding covenants of the authority, which shall be part of the contract with the holders of such bonds, as to:

1.  The pledging of all or any part of the authority's receipts.

2.  The completion, improvement, operation, extension, maintenance, repair, lease or lease-purchase agreement of all or any part of the system and the duties of the authority and others, including the department, with reference thereto.

3.  Limitations on the purposes to which the proceeds of the bonds, then or thereafter to be issued, or of any advances or grants may be applied.

4.  The fixing, charging, establishing, and collecting of tolls, rates, fees, rentals, or other charges for use of the services and facilities of the system or any part thereof.

5.  The setting aside of reserves or sinking funds or repair and replacement funds and the regulation and disposition thereof.

6.  Limitations on the issuance of additional bonds.

7.  The terms and provisions of any lease-purchase agreement, deed of trust, or indenture securing the bonds, or under which the same may be issued.

8.  Any other provisions, additional covenants, and agreements with the holders of the bonds that the authority may deem desirable and proper, including to enhance the security of such bonds or the marketability thereof and which are customary in accordance with the market requirements of the sale of such bonds.

(d)  The State Board of Administration may, upon request of the authority, act as fiscal agent for the authority in the issuance of any bonds which may be issued pursuant to this subsection or the State Bond Act; and the State Board of Administration may, upon request of the authority, take over the management, control, administration, custody, and payment of any and all debt services or funds or assets now or hereafter available for any bonds issued pursuant to this part. Alternatively, as security for such bonds, the authority may enter into deeds of trust, indentures, or other agreements with a corporate trustee or trustees, which shall act as fiscal agent for the authority and may be any trust company within or without the State of Florida and may, under such instruments, assign and pledge all or any of the revenues. Any such deed of trust, indenture, or other agreement may contain such provisions as are customary in such instruments or as the authority may authorize, including, but without limitation, provisions as to:

1.  The completion, improvement, operation, extension, maintenance, repair, and lease of, or lease-purchase agreement relating to, all or any part of the system and the duties of the authority and others, including the department, with reference thereto.

2.  The application of funds and the safeguarding of funds on hand or on deposit.

3.  The rights and remedies of the trustee and the holders of the bonds.

4.  The terms and provisions of the bonds or the resolutions authorizing the issuance of same and terms and conditions for modification or amendments of any of the foregoing and of any covenants of the authority in the proceedings authorizing the issuance of the bonds.

(e)  Any of the bonds issued pursuant to this subsection are, and are hereby declared to be, negotiable instruments and shall have all the qualities and incidents of negotiable instruments under the law merchant and the Uniform Commercial Code of this state.

History.--s. 1, ch. 84-354; s. 138, ch. 92-152.

348.97  Lease-purchase agreement.--

(1)  In order to effectuate the purposes of this part and as authorized herein, the authority may, but shall not be required to, enter into a lease-purchase agreement with the department relating to and covering all or any part of the system.

(2)  Any lease-purchase agreement may provide for the leasing and ultimate sale of all or any part of the system by the authority, as lessor, to the department, as lessee, and shall prescribe the terms of such lease and the rentals to be paid thereunder.

(3)  The lease-purchase agreement may include such other provisions, agreements, and covenants as the authority and the department deem advisable or required, including, but not limited to, provisions as to the bonds to be issued under and for the purposes of this part; the completion, extension, improvement, operation, and maintenance of all or any part of the system and the expenses and cost of operation of the authority; the charging and collection of tolls, rates, fees, rentals, or other charges for the use of the services and facilities thereof; the application of grants, aid, contributions, or advances which may be made or given to assist the authority in the completion, extension, improvement, operation, and maintenance of all of any part of the system, which the authority is authorized to accept and apply to such purposes; the enforcement of payment and collection of tolls, rates, fees, and rentals; and any other terms, provisions, or covenants necessary, incidental, or appurtenant to the making of, and full performance under, such lease-purchase agreement.

(4)  The department, as lessee under such lease-purchase agreement, is authorized to pay, as rentals thereunder, any tolls, rates, fees, charges, funds, moneys, receipts, or income accruing to the department from the operation of the system and may also pay, as rentals, any appropriations received by the department pursuant to any act of the Legislature heretofore or hereafter enacted in which the appropriations are expressly authorized to be used as rentals for the system; however, nothing herein or in such lease-purchase agreement is intended to, nor shall this part or such lease-purchase agreement require the making or continuance of such appropriations, nor shall any holder of bonds issued pursuant to this part ever have any right to compel the making or continuance of such appropriations.

(5)  The department has the power to covenant in any lease-purchase agreement that it will pay all or any part of the cost of the operation, maintenance, repair, renewal, and replacement of all or any part of the system and any part of the cost of completing all or any part of the system to the extent that the proceeds of bonds issued therefor are insufficient, from sources other than receipts of the authority.

(6)  Whether or not the authority enters into a lease-purchase agreement with the department relating to the system or any part thereof, the system shall be a part of the State Highway System as defined in s. 334.03; and the department is authorized, upon the request of the authority, to expend, out of any funds available for the purpose, such moneys, and to use such of its engineering and other forces as may be necessary and desirable in the judgment of the department, for the operation of the authority and for traffic surveys, borings, surveys, preparation of plans and specifications, estimates of cost, and other preliminary engineering and other studies.

History.--s. 1, ch. 84-354; s. 139, ch. 92-152.

348.971  Department may be appointed agent of authority for construction.--The department may be appointed by the authority as its agent for the purpose of constructing improvements and extensions to the system and for the completion thereof. In such event, the division shall provide the department with complete copies of all documents, agreements, resolutions, contracts, and instruments relating thereto; shall request the department to do such construction work, including the planning, surveying, and actual construction of the completion, extensions, and improvements to the system; and shall transfer to the credit of an account of the department in the State Treasury the necessary funds therefor. The department shall thereupon be authorized, empowered, and directed to proceed with such construction and to use the funds for such purpose in the same manner as it is now authorized to use the funds otherwise provided by law for its use in the construction of roads and bridges.

History.--s. 1, ch. 84-354; s. 140, ch. 92-152.

348.972  Acquisition of lands and property.--

(1)  For the purposes of this part, the authority may acquire private or public property and property rights, including rights of access, air, view, and light, by gift, devise, purchase, or condemnation by eminent domain proceedings, as the authority may deem necessary. The right of eminent domain herein conferred shall be exercised by the authority in the manner provided by law.

(2)  In connection with the acquisition of property or property rights as herein provided, the authority may, in its discretion, acquire an entire lot, block, or tract of land if, by so doing, the interests of the public will be best served, even though the entire lot, block, or tract is not immediately needed for the right-of-way proper.

History.--s. 1, ch. 84-354.

348.973  Cooperation with other units, boards, agencies, and individuals.--Express authority and power is given and granted to any agency or instrumentality of the state, county, municipality, drainage district, road and bridge district, school district, or other political subdivision, board, commission, or individual in or of this state to make and enter into contracts, including interlocal agreements, leases, conveyances, or other agreements within the provisions and purposes of this part with the authority. The authority is expressly authorized to make and enter into contracts, including interlocal agreements, leases, conveyances, and other agreements, to the extent consistent with chapters 334, 335, 338, and 339 and other provisions of the laws of this state and with 23 U.S.C. ss. 101 et seq., with any political subdivision, agency, or instrumentality of this state and with any federal agency, corporation, or individual, for the purpose of carrying out the provisions of this part.

History.--s. 1, ch. 84-354; s. 27, ch. 85-81; s. 141, ch. 92-152.

348.974  Covenant of the state.--The state does hereby pledge to, and agrees with, any person, firm, corporation, or federal or state agency subscribing to or acquiring the bonds to be issued by the authority for the purposes of this part that the state will not limit or alter the rights hereby vested in the authority and the department until all bonds at any time issued, together with the interest thereon, are fully paid and discharged, insofar as the same affects the rights of the holders of bonds issued hereunder. The state does further pledge to, and agrees with, the United States that, in the event any federal agency constructs, or contributes any funds for the completion, extension, or improvement of, the system or any part or portion thereof, the state will not alter or limit the rights and powers of the authority and the department in any manner which would be inconsistent with the continued maintenance and operation of the system or any part thereof or the completion, extension, or improvement thereof or which would be inconsistent with the due performance of any agreement between the authority and any such federal agency, and the authority and the department shall continue to have and may exercise all powers herein granted so long as the same shall be necessary or desirable for carrying out the purposes of this part and the purposes of the United States in the completion, extension, or improvement of the system or any part or portion thereof.

History.--s. 1, ch. 84-354; s. 142, ch. 92-152.

348.9751  Remedies; pledges enforceable for bondholders.--Any holder of bonds issued under the provisions of this part, except to the extent such rights may be restricted by the resolution, deed of trust, indenture, or other proceeding relating to the issuance of such bonds, may by civil action, mandamus, or other appropriate action, suit, or proceeding in law or in equity, in any court of competent jurisdiction, protect and enforce any and all rights of such bondholder granted under the proceedings authorizing the issuance of such bonds and enforce any pledge made for payment of the principal and interest on bonds, or any covenant or agreement relative thereto, against the authority or directly against the department, as may be appropriate.

History.--s. 143, ch. 92-152.

348.9761  Exemption from taxation.--The accomplishment of the authorized purposes of the authority created under this part is, shall, and will be in all respects for the benefit of the people of the state for the increase of their commerce and prosperity and for the improvement of their health and living conditions. Since the authority will perform essential governmental functions in accomplishing such purpose, the authority shall not be required to pay any taxes or assessments of any kind or nature whatsoever upon any property acquired or used by it for such purposes or upon any revenues at any time received by it. The bonds, their transfer and the income therefrom, including any profits made on the sale thereof, shall at all times be free from taxation of any kind by the state or by any political subdivision or other agency or instrumentality thereof. The exemption granted by this section shall not be applicable to any tax imposed by chapter 220 on interest, income, or profits on debt obligations owned by corporations.

History.--s. 144, ch. 92-152.

348.9771  Eligibility for investments and security.--All bonds issued by the authority shall be and constitute legal investment for state, county, municipal, and all other public funds, and for banks, savings banks, insurance companies, executors, administrators, trustees, and all other fiduciaries, and shall also be and constitute securities eligible for deposit as security for all state, county, municipal, or other public funds, notwithstanding the provisions of any other law or laws to the contrary.

History.--s. 145, ch. 92-152.

348.9781  This part complete and additional authority.--

(1)  The powers conferred by this part shall be in addition and supplemental to the existing respective powers of the authority, the department, and the county, if any, and this part shall not be construed as repealing any of the provisions of any other law, general, special, or local, but shall be deemed to supersede such other law or laws in the exercise of the powers provided in this part insofar as such other law or laws are inconsistent with the provisions of this part and to provide a complete method for the exercise of the powers granted in this part. The construction, reconstruction, improvement, extension, repair, maintenance, and operation of the system, and the issuance of bonds under this part to finance all or part of the cost thereof, may be accomplished upon compliance with the provisions of this part without regard to or necessity for compliance with the provisions, limitations, or restrictions contained in any other general, special, or local law, and neither approval of any bonds issued under this part by the qualified electors or qualified electors who are freeholders in the state or in the county or in any other political subdivision of the state, nor any procedures or proceedings, publications, notices, consents, approvals, orders, acts, or things by the authority or the members thereof, or any other governmental entity, shall be required for the issuance of such bonds, except as may be prescribed in this part.

(2)  This part shall not be deemed to supersede, repeal, rescind, or modify any other law or laws relating to the State Board of Administration, the Department of Transportation, or the Division of Bond Finance, but shall be deemed to and shall supersede such other law or laws as are inconsistent with the provisions of this part.

History.--s. 146, ch. 92-152; s. 55, ch. 95-143.