House Bill 0325e1

                                           HB 325, First Engrossed



  1                      A bill to be entitled

  2         An act relating to trust funds; amending s.

  3         373.41495, F.S.; creating the Lake Belt

  4         Mitigation Trust Fund within the South Florida

  5         Water Management District; providing for

  6         sources of moneys and purposes; providing an

  7         exemption from termination; providing a

  8         contingent effective date.

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10  Be It Enacted by the Legislature of the State of Florida:

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12         Section 1.  Section 373.41495, Florida Statutes, 1998

13  Supplement, is amended to read:

14         373.41495  Lake Belt Mitigation Trust Fund; bonds.--

15         (1)  The Lake Belt Mitigation Trust Fund is hereby

16  created, to be administered by the South Florida Water

17  Management District. Funds shall be credited to the trust fund

18  as provided in s. 373.41492 373.4139, to be used for the

19  purposes set forth therein.

20         (2)  The South Florida Water Management District may

21  issue revenue bonds pursuant to s. 373.584, payable from

22  revenues from the Lake Belt Mitigation fee imposed under s.

23  373.41492 373.4139.

24         (3)  Net proceeds from the Lake Belt Mitigation fee and

25  any revenue bonds issued under subsection (2) shall be

26  deposited into the trust fund and, together with any interest

27  earned on such moneys, shall be applied to Lake Belt

28  mitigation projects as provided in s. 373.41492 373.4139.

29         (4)  The Lake Belt Mitigation Trust Fund is a trust

30  fund as described in s. 19(f)(3), Art. III of the State

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CODING: Words stricken are deletions; words underlined are additions.






                                           HB 325, First Engrossed



  1  Constitution, and therefore is not subject to termination

  2  pursuant to s. 19(f)(2), Art. III of the State Constitution.

  3         Section 2.  This act shall take effect July 1, 1999, if

  4  HB      or similar legislation becomes law.

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