SENATE AMENDMENT

    Bill No. CS for SB 2540

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Bronson moved the following amendment:

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13         Senate Amendment 

14         On page 19, lines 6-18, delete those lines

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16  and insert:

17         (3)  The Spaceport Florida Authority may enter into an

18  investment agreement obligating existing revenues on deposit

19  or future revenues projected to be available for deposit in

20  the segregated accounted provided for by s. 331.365(2). The

21  investment must be limited as follows:

22         (a)  Not more than $50 million of the existing revenues

23  on deposit or future revenues projected to be available for

24  deposit in the segregated accounted provided for by s. 331.365

25  may be at risk at any time on loan guarantees or as loan loss

26  reserves.

27         (b)  The investment earnings may not be used to

28  guarantee any loan guaranty or loan loss reserve agreement for

29  a period longer than 30 years.

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    1:54 PM   04/23/99                              s2540c1b-18e9x