The Florida Senate

159.704  Designation by ¹Board of Regents; procedure.--

(1)  The authority shall prepare and submit to the ¹Board of Regents a petition requesting that the authority be designated a research and development authority.

(2)  The petition shall contain, but not be limited to:

(a)  The resolution of the governing board of the county constituting the authority.

(b)  A concept of operation of the proposed research and development park consistent with s. 159.27(7) and the purposes of ss. 159.701-159.7095.

(c)  A statement of affiliation with one or more state-based, accredited, public or private institutions of higher learning with research and development capabilities.

(d)  Evidence of availability of a site suitable for the projected scope of operations.

(e)  Evidence of the economic feasibility of the proposed research and development park.

(f)  A plan for funding the development of the proposed research and development park, including a minimum financial commitment by the authority of $50,000 in liquid assets for development purposes.

(3)  Upon approval of the petition and designation as a research and development authority by the ¹Board of Regents, the authority shall be empowered to transact any business and exercise any power authorized by ss. 159.701-159.7095 for the purposes set out in such sections.

History.--s. 4, ch. 79-101; s. 4, ch. 85-313; s. 5, ch. 88-409.

¹Note.--Abolished by s. 3, ch. 2001-170.