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The Florida Senate

2005 Florida Statutes

Section 348.9938, Florida Statutes 2005

1348.9938  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 Southwest Florida Transportation System.

(2)  Such lease-purchase agreement shall provide for the leasing of the Southwest Florida Transportation 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 Southwest Florida Transportation 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 Southwest Florida Transportation 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 Southwest Florida Transportation 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 Southwest Florida Transportation 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; 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)  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. 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.

(6)  Said system shall be a part of the State Highway System and said department is hereby authorized, upon the request of the authority, to expend such moneys, out of any funds available for the purpose, 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.

History.--s. 1, ch. 2005-154.

1Note.--Section 3, ch. 2005-154, provides that "[t]his act shall take effect upon resolutions in support of this act being passed by both the Lee County Board of County Commissioners and the Collier County Board of County Commissioners, but no sooner than July 1, 2005, in the event the boards pass such resolutions prior to that date, except that this section shall take effect upon this act becoming a law."