Senate Bill 1646er

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  1

  2         An act relating to water pollution control;

  3         amending s. 403.1835, F.S.; providing for a

  4         method of financing water pollution control

  5         projects eligible under specified federal law;

  6         authorizing loans and grants; providing for the

  7         use of the Wastewater Treatment and Stormwater

  8         Management Revolving Loan Trust Fund; requiring

  9         the Department of Environmental Protection to

10         adopt a priority system by rule; providing

11         criteria for the rule; authorizing the

12         imposition of penalty interest; granting

13         rulemaking authority to the Department of

14         Environmental Protection; creating s. 403.1837,

15         F.S.; creating the Florida Water Pollution

16         Control Financing Corporation; providing for

17         its membership and powers; authorizing the

18         corporation to enter into service contracts

19         with the Department of Environmental

20         Protection; authorizing the issuance of bonds

21         and other obligations; authorizing the sale of

22         loans issued under s. 403.1835, F.S.; providing

23         for tax exemptions; requiring the corporation

24         to evaluate all financial and market conditions

25         necessary and prudent for the purpose of making

26         sound, financially responsible, and

27         cost-effective decisions to secure additional

28         funding for water pollution control projects;

29         authorizing the corporation to contract with

30         the State Board of Administration for services;

31         repealing s. 403.1836, F.S., relating to the


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  1         Wastewater Treatment and Stormwater Management

  2         Revolving Loan Trust Fund; providing an

  3         appropriation; providing an effective date.

  4

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

  6

  7         Section 1.  Section 403.1835, Florida Statutes, is

  8  amended to read:

  9         403.1835  Water pollution control financial assistance

10  Sewage treatment facilities revolving loan program.--

11         (1)  The purpose of this section is to assist in

12  implementing the legislative declaration of public policy as

13  contained in s. 403.021 by establishing a self-perpetuating

14  loan program to accelerate the implementation of water

15  pollution control projects construction of sewage treatment

16  facilities by local governmental agencies and to assist local

17  governmental agencies. Projects and activities that may be

18  funded are those eligible under s. 603 of the Federal Water

19  Pollution Control Act (Clean Water Act), Pub. L. No. 92-500,

20  as amended; including, but not limited to, planning, design,

21  construction, and implementation of wastewater management

22  systems, stormwater management systems, nonpoint source

23  pollution management systems, and estuary conservation and

24  management.

25         (2)  For the purposes of this section, the term:

26         (a)  "Local governmental agencies" means local

27  governmental agencies as defined in s. 403.1822(3).

28         (b)  "Sewage treatment facilities" means all facilities

29  necessary, including land, for the collection, treatment, or

30  disposal of domestic wastewater.

31


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  1         (b)(c)  "Bonds" means state bonds, certificates, or

  2  other obligations of indebtedness issued by the Florida Water

  3  Pollution Control Financing Corporation under Division of Bond

  4  Finance of the State Board of Administration pursuant to this

  5  section and s.403.1837 the State Bond Act.

  6         (c)  "Corporation" means the Florida Water Pollution

  7  Control Financing Corporation.

  8         (3)  The department is authorized to make loans and

  9  grants to local governmental agencies to assist them in

10  planning, designing, and constructing sewage treatment

11  facilities and stormwater management systems. The department

12  may administer the resulting portfolio of loans, including the

13  authority to sell or pledge the loans, or any portion of the

14  loans, with the approval of the Governor, the Treasurer, and

15  the Comptroller, acting as the State Board of Administration,

16  to ensure compliance with subsection (1).

17         (a)  The department may provide financial assistance

18  through any program authorized under s. 603 of the Federal

19  Water Pollution Control Act (Clean Water Act), Pub. L. No.

20  92-500, as amended, including, but not limited to, making

21  grants and loans, providing loan guarantees, purchasing loan

22  insurance or other credit enhancements, and buying or

23  refinancing is authorized to make loans, to provide loan

24  guarantees, to purchase loan insurance, and to refinance local

25  debt through the issue of new loans for projects approved by

26  the department. This financial assistance must be administered

27  in accordance with this section and applicable federal

28  authorities. The department shall administer all programs

29  operated from funds secured through the activities of the

30  Florida Water Pollution Control Financing Corporation under s.

31  403.1837, to fulfill the purposes of this section.


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  1         (a)  The department may make or request the corporation

  2  to make loans to local government agencies, which agencies may

  3  pledge any revenue available to them to repay any funds

  4  borrowed.

  5         (b)  The department may make or request the corporation

  6  to make loans, grants, and deposits to other entities eligible

  7  to participate in the financial assistance programs authorized

  8  under the Federal Water Pollution Control Act, or as a result

  9  of other federal action, which entities may pledge any revenue

10  available to them to repay any funds borrowed.

11         (c)  The department shall administer financial

12  assistance so that at least 15 percent of the funding made

13  available each year under this section is reserved for use by

14  small communities during the year it is reserved. Local

15  governmental agencies are authorized to borrow funds made

16  available pursuant to this section and may pledge any revenue

17  available to them to repay any funds borrowed.  The department

18  shall administer loans to local governmental agencies so that

19  at least 15 percent of each annual allocation for loans is

20  reserved for small communities.

21         (d)(b)  The department may make grants to financially

22  disadvantaged small communities, as defined in s. 403.1838,

23  using funds made available from grant allocations on loans

24  authorized under subsection (4). The grants must be

25  administered in accordance with s. 403.1838.

26         (c)  The department may make grants to local government

27  agencies as authorized under the Federal Water Pollution

28  Control Act, or as a result of other federal action. The

29  grants must be administered in accordance with this section

30  and applicable federal requirements.

31


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  1         (4)  The term of loans made pursuant to this section

  2  shall not exceed 30 years. The department may assess grant

  3  allocations on the loans made under this section for the

  4  purpose of making grants to financially disadvantaged small

  5  communities. The combined rate of interest and grant

  6  allocations on loans shall be no greater than the interest

  7  rate paid on the last bonds sold pursuant to s. 14, Art. VII

  8  of the State Constitution. The grant allocations on a loan

  9  shall be equal to or less than the interest rate on the loan.

10         (5)(a)  The department has authority to adopt rules

11  pursuant to ss. 120.536(1) and 120.54 to implement the

12  provisions of this section, including rules to administer the

13  state revolving fund authorized pursuant to the Federal Water

14  Pollution Control Act, as amended.

15         (b)  The department shall prepare an annual report

16  detailing the amount of grants, amount loaned, interest

17  earned, grant allocations, and loans outstanding at the end of

18  each fiscal year.

19         (6)  Prior to approval of financial assistance, the

20  applicant a construction loan, the local government shall:

21         (a)  Submit evidence of credit worthiness, loan

22  security, and a loan Provide a repayment schedule in support

23  of a request for a loan.

24         (b)  Submit plans and specifications and evidence of

25  permittability in support of a request for funding of

26  construction or other activities requiring a permit from the

27  department for sewage treatment facilities and stormwater

28  management systems.

29         (c)  Provide assurance that records will be kept using

30  generally accepted government accounting principles standards

31  and that the department, the Auditor General, or their agents


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  1  will have access to all records pertaining to the financial

  2  assistance provided loan.

  3         (d)  Provide assurance that the subject facilities,

  4  systems, or activities facility will be properly operated and

  5  maintained.

  6         (e)  Identify the revenues to be pledged and document

  7  their sufficiency for loan repayment and pledged revenue

  8  coverage in support of a request for a loan Document that the

  9  revenues generated will be sufficient to ensure that the

10  facilities will be self-supporting.

11         (f)  Provide assurance that annual financial

12  information audit reports, and a separate project audit

13  prepared by an independent certified public accountant upon

14  project completion, will be provided as required by submitted

15  to the department.

16         (g)  Provide assurance that a project audit prepared by

17  an independent certified public accountant upon project

18  completion will be submitted to the department in support of a

19  request for a grant.

20         (h)(g)  Submit project planning documentation

21  demonstrating a cost comparison of alternative methods

22  cost-effectiveness, environmental soundness, public

23  participation, and financial feasibility for any proposed

24  project or activity the implementability of the proposed

25  sewage treatment facilities and stormwater management systems.

26         (7)  Eligible projects must be given priority according

27  to the extent each project is intended to remove, mitigate, or

28  prevent adverse effects on surface or ground water quality and

29  public health. The relative costs of achieving environmental

30  and public health benefits must be taken into consideration

31  during the department's assignment of project priorities. The


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  1  department shall adopt a priority system by rule. In

  2  developing the priority system, the department shall give

  3  priority to projects that:

  4         (a)  Eliminate public health hazards;

  5         (b)  Enable compliance with laws requiring the

  6  elimination of discharges to specific water bodies;

  7         (c)  Assist in the implementation of total maximum

  8  daily loads adopted under s. 403.067;

  9         (d)  Enable compliance with other pollution control

10  requirements, including but not limited to toxics control,

11  wastewater residuals management, and reduction of nutrients

12  and bacteria;

13         (e)  Assist in the implementation of surface water

14  improvement and management plans approved under s. 373.456 and

15  pollutant load reduction goals developed under state water

16  policy;

17         (f)  Promote reclaimed water reuse;

18         (g)  Eliminate failing onsite sewage treatment and

19  disposal systems or those that are causing environmental

20  damage; or

21         (h)  Reduce pollutants to and otherwise promote the

22  restoration of Florida's surface and ground waters. However,

23  preference must be given to eligible projects that protect the

24  public health or are required by law to eliminate sewage

25  treatment facility discharges into specific bodies of water.

26         (8)(a)  If a local governmental agency becomes

27  delinquent on its loan, the department shall so certify to the

28  Comptroller who shall forward the amount delinquent to the

29  department from any unobligated funds due to the local

30  governmental agency under any revenue-sharing or tax-sharing

31  fund established by the state, except as otherwise provided by


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  1  the State Constitution. Certification of delinquency shall not

  2  limit the department from pursuing other remedies available

  3  for default on a loan. The department may impose a penalty for

  4  delinquent loan payments in an the amount not to exceed an

  5  interest rate of 18 6 percent per annum on of the amount due

  6  in addition to charging the cost to handle and process the

  7  debt. Penalty interest shall accrue on any amount due and

  8  payable beginning on the 30th day following the date upon

  9  which payment is due.

10         (b)  If a loan recipient, other than a local government

11  agency, defaults under the terms of a loan, the department may

12  pursue any remedy available to it at law or in equity. The

13  department may impose a penalty in an amount not to exceed an

14  interest rate of 18 percent per annum on any amount due in

15  addition to charging the cost to handle and process the debt.

16  Penalty interest accrues on any amount due and payable

17  beginning on the 30th day following the date upon which the

18  amount is due.

19         (9)  Funds for the loans and grants authorized under

20  this section must be managed as follows:

21         (a)  A nonlapsing trust fund with revolving loan

22  provisions to be known as the "Wastewater Treatment and

23  Stormwater Management Revolving Loan Trust Fund" is

24  established in the State Treasury to be used as a revolving

25  fund by the department to carry out the purpose of this

26  section. Any funds therein which are not needed on an

27  immediate basis for grants or loans may be invested pursuant

28  to s. 215.49. The cost of administering the program shall be

29  paid from federal funds, from reasonable service fees that may

30  be imposed upon loans, and from proceeds from the sale of

31  loans as permitted by federal law so as to enhance program


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  1  perpetuity.  Grants awarded by the Federal Government, state

  2  matching funds, and investment earnings thereon shall be

  3  deposited into the trust fund. Proceeds from the sale of loans

  4  must be deposited into the trust fund. All moneys available in

  5  the trust fund, including investment earnings, are hereby

  6  designated to carry out the purpose of this section. The

  7  principal and interest payments of all loans held by the trust

  8  fund shall be deposited into this trust fund.

  9         1.  The department may obligate moneys available in the

10  Wastewater Treatment and Stormwater Management Revolving Loan

11  Trust Fund for payment of amounts payable under any service

12  contract entered into by the department under s. 403.1837,

13  subject to annual appropriation by the Legislature. Amounts on

14  deposit in the trust fund in each fiscal year shall first be

15  applied or allocated for the payment of amounts payable by the

16  department under this subparagraph and appropriated each year

17  by the Legislature before making or providing for other

18  disbursement from the trust fund.

19         2.  Under the provisions of s. 19(f)(3), Art. III of

20  the State Constitution, the Wastewater Treatment and

21  Stormwater Management Revolving Loan Trust Fund is exempt from

22  the termination provisions of s. 19(f)(2), Art. III of the

23  State Constitution.

24         (b)  Revenues from the loan grant allocations

25  authorized under subsection (4), federal appropriations, state

26  matching funds for grants authorized by federal statute or

27  other federal action, and service fees, and all earnings

28  thereon, shall be deposited into the department's Grants and

29  Donations Trust Fund. Service fees and all earnings thereon

30  must be used solely for program administration. The loan grant

31  allocation revenues and earnings thereon must be used solely


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  1  for the purpose of making grants to financially disadvantaged

  2  small communities. Federal appropriations and state matching

  3  funds for grants authorized by federal statute or other

  4  federal action, and earnings thereon, must be used solely for

  5  the purposes authorized. All deposits into the department's

  6  Grants and Donations Trust Fund under this section, and

  7  earnings thereon, must be accounted for separately from all

  8  other moneys deposited into the fund.

  9         (10)  The department may adopt rules regarding program

10  administration; project eligibilities and priorities,

11  including the development and management of project priority

12  lists; financial assistance application requirements

13  associated with planning, design, construction, and

14  implementation activities, including environmental and

15  engineering requirements; financial assistance agreement

16  conditions; disbursement and repayment provisions; auditing

17  provisions; program exceptions; the procedural and contractual

18  relationship between the department and the Florida Water

19  Pollution Control Financing Corporation under s. 403.1837; and

20  other provisions consistent with the purposes of this section.

21  Because the Legislature has experienced revenue shortfalls in

22  recent years and has been unable to provide enough funds to

23  fully match available federal funds to help capitalize the

24  Wastewater Treatment and Stormwater Management Revolving Loan

25  Trust Fund, it is necessary for innovative approaches to be

26  considered to help capitalize the revolving loan fund. The

27  department shall evaluate potential innovative approaches that

28  can generate funds to match available federal funds. The

29  department may adopt approaches that will help ensure the

30  continuing viability of the Wastewater Treatment and

31  Stormwater Management Revolving Loan Trust Fund. The


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  1  department shall consider, among other possible alternatives,

  2  the option of implementing by rule a program to allow local

  3  governments to offer funds voluntarily to the state for use as

  4  a match to available federal funds to capitalize the

  5  Wastewater Treatment and Stormwater Management Revolving Loan

  6  Trust Fund.

  7         (11)  Any projects for reclaimed water reuse in Monroe

  8  County funded from the Wastewater Treatment and Stormwater

  9  Management Revolving Loan Trust Fund must take into account

10  water balances and nutrient balances in order to prevent the

11  runoff of pollutants into surface waters.

12         Section 2.  Section 403.1837, Florida Statutes, is

13  created to read:

14         403.1837  Florida Water Pollution Control Financing

15  Corporation.--

16         (1)  The Florida Water Pollution Control Financing

17  Corporation is created as a nonprofit public-benefit

18  corporation for the purpose of financing or refinancing the

19  costs of water pollution control projects and activities

20  described in s. 403.1835. The projects and activities

21  described in that section are found to constitute a public

22  governmental purpose, be necessary for the health, safety, and

23  welfare of all residents, and include legislatively approved

24  fixed capital outlay projects. The fulfillment of the purposes

25  of the corporation promotes the health, safety, and welfare of

26  the people of the state and serves essential governmental

27  functions and a paramount public purpose. The activities of

28  the corporation are specifically limited to assisting the

29  department in implementing financing activities to provide

30  funding for the programs authorized in s. 403.1835. All other

31  activities relating to the purposes for which the corporation


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  1  raises funds are the responsibility of the department,

  2  including, but not limited to, development of program

  3  criteria, review of applications for financial assistance,

  4  decisions relating to the number and amount of loans or other

  5  financial assistance to be provided, and enforcement of the

  6  terms of any financial assistance agreements provided through

  7  funds raised by the corporation. The corporation shall

  8  terminate upon fulfillment of the purposes of this section.

  9         (2)  The corporation shall be governed by a board of

10  directors consisting of the Governor's Budget Director or the

11  budget director's designee, the Comptroller or the

12  Comptroller's designee, the Treasurer or the Treasurer's

13  designee, and the Secretary of Environmental Protection or the

14  secretary's designee, until January 7, 2003, at which time the

15  board shall include the Chief Financial Officer or the Chief

16  Financial Officer's designee in place of the Treasurer and

17  Comptroller. The executive director of the State Board of

18  Administration shall be the chief executive officer of the

19  corporation and shall direct and supervise the administrative

20  affairs of the corporation and shall control, direct, and

21  supervise operation of the corporation. The corporation shall

22  have such other officers as may be determined by the board of

23  directors.

24         (3)  The corporation shall have all the powers of a

25  corporate body under the laws of the state to the extent not

26  inconsistent with or restricted by this section, including,

27  but not limited to, the power to:

28         (a)  Adopt, amend, and repeal bylaws not inconsistent

29  with this section.

30         (b)  Sue and be sued.

31         (c)  Adopt and use a common seal.


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  1         (d)  Acquire, purchase, hold, lease, and convey any

  2  real and personal property as may be proper or expedient to

  3  carry out the purposes of the corporation and this section,

  4  and to sell, lease, or otherwise dispose of that property.

  5         (e)  Elect or appoint and employ such officers, agents,

  6  and employees as the corporation considers advisable to

  7  operate and manage the affairs of the corporation, which

  8  officers, agents, and employees may be officers or employees

  9  of the department and the state agencies represented on the

10  board of directors of the corporation.

11         (f)  Borrow money and issue notes, bonds, certificates

12  of indebtedness, or other obligations or evidences of

13  indebtedness described in s. 403.1835.

14         (g)  Operate, as specifically directed by the

15  department, any program to provide financial assistance

16  authorized under s. 403.1835(3), which may be funded from any

17  funds received under a service contract with the department,

18  from the proceeds of bonds issued by the corporation, or from

19  any other funding sources obtained by the corporation.

20         (h)  Sell all or any portion of the loans issued under

21  s. 403.1835 to accomplish the purposes of this section and s.

22  403.1835.

23         (i)  Make and execute any contracts, trust agreements,

24  and other instruments and agreements necessary or convenient

25  to accomplish the purposes of the corporation and this

26  section.

27         (j)  Select, retain, and employ professionals,

28  contractors, or agents, which may include the Division of Bond

29  Finance of the State Board of Administration, as is necessary

30  or convenient to enable or assist the corporation in carrying

31  out its purposes and this section.


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  1         (k)  Do any act or thing necessary or convenient to

  2  carry out the purposes of the corporation and this section.

  3         (4)  The corporation shall evaluate all financial and

  4  market conditions necessary and prudent for the purpose of

  5  making sound, financially responsible, and cost-effective

  6  decisions in order to secure additional funds to fulfill the

  7  purposes of this section and s. 403.1835.

  8         (5)  The corporation may enter into one or more service

  9  contracts with the department under which the corporation

10  shall provide services to the department in connection with

11  financing the functions, projects, and activities provided for

12  in s. 403.1835. The department may enter into one or more

13  service contracts with the corporation and provide for

14  payments under those contracts pursuant to s. 403.1835(9),

15  subject to annual appropriation by the Legislature. The

16  service contracts may provide for the transfer of all or a

17  portion of the funds in the Wastewater Treatment and

18  Stormwater Management Revolving Loan Trust Fund to the

19  corporation for use by the corporation for costs incurred by

20  the corporation in its operations, including, but not limited

21  to, payment of debt service, reserves, or other costs in

22  relation to bonds issued by the corporation, for use by the

23  corporation at the request of the department to directly

24  provide the types of local financial assistance provided for

25  in s. 403.1835(3), or for payment of the administrative costs

26  of the corporation. The department may not transfer funds

27  under any service contract with the corporation without

28  specific appropriation for such purpose in the General

29  Appropriations Act, except for administrative expenses

30  incurred by the State Board of Administration or other

31  expenses necessary under documents authorizing or securing


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  1  previously issued bonds of the corporation. The service

  2  contracts may also provide for the assignment or transfer to

  3  the corporation of any loans made by the department. The

  4  service contracts may establish the operating relationship

  5  between the department and the corporation and shall required

  6  the department to request the corporation to issue bonds

  7  before any issuance of bonds by the corporation, to take any

  8  actions necessary to enforce the agreements entered into

  9  between the corporation and other parties, and to take all

10  other actions necessary to assist the corporation in its

11  operations. In compliance with s. 287.0641 and other

12  applicable provisions of law, the obligations of the

13  department under the service contracts does not constitute a

14  general obligation of the state or a pledge of the faith and

15  credit or taxing power of the state, nor may the obligations

16  be construed in any manner as an obligation of the State Board

17  of Administration or entities for which it invests funds, or

18  of the department except as provided in this section as

19  payable solely from amounts available under any service

20  contract between the corporation and the department, subject

21  to appropriation. In compliance with this subsection and s.

22  287.0582, service contracts must expressly include the

23  following statement:  "The State of Florida's performance and

24  obligation to pay under this contract is contingent upon an

25  annual appropriation by the Legislature."

26         (6)  The corporation may issue and incur notes, bonds,

27  certificates of indebtedness, or other obligations or

28  evidences of indebtedness payable from and secured by amounts

29  received from payment of loans and other moneys received by

30  the corporation, including, but not limited to, amounts

31  payable to the corporation by the department under a service


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  1  contract entered into under subsection (5). The corporation

  2  may not issue bonds in excess of an amount authorized by

  3  general law or an appropriations act except to refund

  4  previously issued bonds. The corporation may issue bonds in

  5  amounts not exceeding $50 million in fiscal year 2000-2001,

  6  $75 million in fiscal year 2001-2002, and $100 million in

  7  fiscal year 2002-2003. The proceeds of the bonds may be used

  8  for the purpose of providing funds for projects and activities

  9  provided for in subsection (1) or for refunding bonds

10  previously issued by the corporation. The corporation may

11  select a financing team and issue obligations through

12  competitive bidding or negotiated contracts, whichever is most

13  cost-effective. Any such indebtedness of the corporation does

14  not constitute a debt or obligation of the state or a pledge

15  of the faith and credit or taxing power of the state.

16         (7)  The corporation is exempt from taxation and

17  assessments of any nature whatsoever upon its income and any

18  property, assets, or revenues acquired, received, or used in

19  the furtherance of the purposes provided in ss. 403.1835 and

20  403.1838. The obligations of the corporation incurred under

21  subsection (6) and the interest and income on the obligations

22  and all security agreements, letters of credit, liquidity

23  facilities, or other obligations or instruments arising out

24  of, entered into in connection with, or given to secure

25  payment of the obligations are exempt from all taxation;

26  however, the exemption does not apply to any tax imposed by

27  chapter 220 on the interest, income, or profits on debt

28  obligations owned by corporations.

29         (8)  The corporation shall validate any bonds issued

30  under this section, except refunding bonds, which may be

31  validated at the option of the corporation, by proceedings


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  1  under chapter 75. The validation complaint must be filed only

  2  in the Circuit Court for Leon County. The notice required

  3  under s. 75.06 must be published in Leon County, and the

  4  complaint and order of the circuit court shall be served only

  5  on the State Attorney for the Second Judicial Circuit.

  6  Sections 75.04(2) and 75.06(2) do not apply to a validation

  7  complaint filed as authorized in this subsection. The

  8  validation of the first bonds issued under this section may be

  9  appealed to the Supreme Court and the appeal shall be handled

10  on an expedited basis.

11         (9)  The corporation and the department shall not take

12  any action that will materially and adversely affect the

13  rights of holders of any obligations issued under this section

14  as long as the obligations are outstanding.

15         (10)  The corporation is not a special district for

16  purposes of chapter 189 or a unit of local government for

17  purposes of part III of chapter 218. The provisions of

18  chapters 120 and 215, except the limitation on interest rates

19  provided by s. 215.84, which applies to obligations of the

20  corporation issued under this section, and part I of chapter

21  287, except ss. 287.0582 and 287.0641, do not apply to this

22  section, the corporation created in this section, the service

23  contracts entered into under this section, or debt obligations

24  issued by the corporation as provided in this section.

25         (11)  The benefits or earnings of the corporation may

26  not inure to the benefit of any private person, except persons

27  receiving grants and loans under s. 403.1835.

28         (12)  Upon dissolution of the corporation, title to all

29  property owned by the corporation reverts to the department.

30         (13)  The corporation may contract with the State Board

31  of Administration to serve as trustee with respect to debt


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




    ENROLLED

    2000 Legislature                         CS for CS for SB 1646



  1  obligations issued by the corporation as provided by this

  2  section and to hold, administer, and invest proceeds of those

  3  debt obligations and other funds of the corporation and to

  4  perform other services required by the corporation. The State

  5  Board of Administration may perform these services and may

  6  contract with others to provide all or a part of those

  7  services and to recover the costs and expenses of providing

  8  those services.

  9         (14)  The Auditor General may conduct a financial audit

10  of the accounts and records of the corporation.

11         Section 3.  Section 403.1836, Florida Statutes, is

12  repealed.

13         Section 4.  In fiscal year 2000-2001, the Department of

14  Environmental Protection is appropriated an amount not to

15  exceed $10 million from the Wastewater Treatment and

16  Stormwater Management Revolving Loan Trust Fund for the

17  purpose of transferring funds to the Florida Water Pollution

18  Control Financing Corporation under service contract to carry

19  out the activities authorized in sections 403.1835 and

20  403.1837, Florida Statutes.

21         Section 5.  This act shall take effect upon becoming a

22  law.

23

24

25

26

27

28

29

30

31


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