HB 0257 2003
1	A bill to be entitled
2	An act relating to Southwest Florida transportation;
3	redesignating ch. 349, F.S., as pt. I of that chapter;
4	creating pt. II of ch. 349, F.S., consisting of ss.
5	349.31, 349.32, 349.33, 349.34, 349.35, 349.36, 349.37,
6	349.38, 349.39, 349.40, 349.41, 349.42, 349.43, 349.44,
7	349.45, 349.46, and 349.47, titled "Southwest Florida
8	Transportation Authority"; providing a popular name;
9	providing definitions; creating the Southwest Florida
10	Transportation Authority; providing for a governing body
11	of the authority; providing for membership; providing
12	purposes and powers; providing for the Southwest Florida
13	Transportation System; providing for procurement;
14	providing bond financing authority for improvements;
15	providing for bonds of the authority; providing for fiscal
16	agents; providing the State Board of Administration may
17	act as fiscal agent; providing for certain financial
18	agreements; providing for rights and remedies of
19	bondholders; providing for lease-purchase agreement with
20	the Department of Transportation; providing the department
21	may be appointed agent of authority for construction;
22	providing for acquisition of lands and property; providing
23	for cooperation with other units, boards, agencies, and
24	individuals; providing covenant of the state; providing
25	for exemption from taxation; providing for eligibility for
26	investments and security; providing pledges enforceable by
27	bondholders; providing for construction and application;
28	amending ss. 349.02, 349.04, 349.05, 349.06, 349.07,
29	349.08, 349.10, 349.11, 349.12, 349.13, 349.14, 349.15,
30	349.17, and 349.21, F.S.; correcting references; providing
31	for an appropriation; providing an effective date.
32
33	Be It Enacted by the Legislature of the State of Florida:
34
35	Section 1.Chapter 349, Florida Statutes, consisting of
36	sections 349.01-349.21, is designated as part I of that chapter
37	and titled "Jacksonville Transportation Authority."
38	Section 2. Part II of chapter 349, Florida Statutes,
39	consisting of sections 349.31, 349.32, 349.33, 349.34, 349.35,
40	349.36, 349.37, 349.38, 349.39, 349.40, 349.41, 349.42, 349.43,
41	349.44, 349.45, 349.46, and 349.47, is created to read:
42	Part II Southwest Florida Transportation Authority
43	349.31 Popular name.--This part shall be known and may be
44	referred to by the popular name the "Southwest Florida
45	Transportation Authority Law."
46	349.32 Definitions.--The following terms, whenever used or
47	referred to in this law, shall have the following meanings,
48	except in those instances where the context clearly indicates
49	otherwise:
50	(1) The term "agency of the state" means and includes the
51	state and any department of, or corporation, agency, or
52	instrumentality heretofore or hereafter created, designated, or
53	established by, the state.
54	(2) The term "authority" means the body politic and
55	corporate, and agency of the state, created by this part.
56	(3) The term "bonds" means and includes the notes, bonds,
57	refunding bonds, or other evidences of indebtedness or
58	obligations, in either temporary or definitive form, which the
59	authority is authorized to issue pursuant to this part.
60	(4) The term "county" means the Counties of Collier and
61	Lee.
62	(5) "DBOM contract" means the document and all concomitant
63	rights approved by the authority providing the selected person
64	or entity the exclusive right to design, build, operate, and
65	maintain the Southwest Florida Transportation System.
66	(6) "DBOM & F contract" means the document and all
67	concomitant rights approved by the authority providing the
68	selected person or entity the exclusive right to design, build,
69	operate, maintain, and finance all or a portion of the Southwest
70	Florida Transportation System.
71	(7) The term "department" means the Department of
72	Transportation existing under chapters 334-339.
73	(8) The term "expressway" is the same as limited access
74	expressway.
75	(9) The term "federal agency" means and includes the
76	United States, the President of the United States, or any
77	department of, or corporation, agency, or instrumentality
78	heretofore or hereafter created, designated, or established by,
79	the United States.
80	(10) The term "lease-purchase agreement" means the lease-
81	purchase agreements which the authority is authorized pursuant
82	to this part to enter into with the Department of
83	Transportation.
84	(11) The term "limited access expressway" means a street
85	or highway especially designed for through traffic and over,
86	from, or to which no person shall have the right of easement,
87	use, or access except in accordance with the rules and
88	regulations promulgated and established by the authority for the
89	use of such facility. Such highways or streets may be parkways,
90	from which trucks, buses, and other commercial vehicles shall be
91	excluded, or they may be freeways open to use by all customary
92	forms of street and highway traffic.
93	(12) The term "members" means the governing body of the
94	authority, and the term "member" means one of the individuals
95	constituting such governing body.
96	(13) The term "system" means the Southwest Florida
97	Transportation System.
98	(14) The term "Southwest Florida Transportation System"
99	means any and all expressways and appurtenant facilities
100	thereto, including, but not limited to, all approaches, roads,
101	bridges, and avenues of access for said expressway or
102	expressways, whether tolled or non-tolled, or such other
103	facility as the authority determines or designates.
104	(15) The term "State Board of Administration" means the
105	body corporate existing under the provisions of s. 9, Art. XII
106	of the State Constitution, or any successor thereto.
107	(16) Words importing singular number include the plural
108	number in each case and vice versa, and words importing persons
109	include firms and corporations.
110	349.33 Southwest Florida Transportation Authority.--
111	(1) There is hereby created and established a body politic
112	and corporate, an agency of the state, to be known as the
113	“Southwest Florida Transportation Authority,” hereinafter
114	referred to as the "authority," encompassing Collier and Lee
115	Counties.
116	(2) The governing body of the authority shall consist of
117	seven voting members. There shall be three members each from
118	Collier County and Lee County, each of whom shall be a permanent
119	resident of the county from which they come during the entire
120	term. Two of the three members from each county shall be
121	appointed by the Governor. Each appointed member of the
122	authority shall be a person of outstanding reputation for
123	integrity, responsibility, and business ability, but no person
124	who is an employee of Collier County or Lee County or of any
125	city within Collier County or Lee County in any other capacity
126	except as set forth above shall be an appointed member of the
127	authority. The term of each member appointed by the Governor
128	shall be for 4 years. Each appointed member shall hold office
129	until his or her successor has been appointed and has qualified.
130	A vacancy occurring during a term shall be filled only for the
131	balance of the unexpired term. The third member from each county
132	shall be a member of that county’s commission, shall be selected
133	by the members of the county commission, and shall serve as an
134	ex officio member for a term of 2 years. Each commissioner must
135	be a member of the county commission when selected and for the
136	full extent of the term of this selection. The seventh member
137	shall be the district secretary of the Department of
138	Transportation serving in the district that contains Collier
139	County and Lee County and shall serve as an ex officio member.
140	Any member of the authority shall be eligible for reappointment.
141	(3)(a) The authority shall elect one of its members as
142	chair of the authority. The authority shall also elect a
143	secretary and a treasurer who may or may not be members of the
144	authority. The chair, secretary, and treasurer shall hold such
145	offices at the will of the authority. Four members of the
146	authority shall constitute a quorum, and a vote of the majority
147	of those present shall be necessary for any action taken by the
148	authority. No vacancy in the authority shall impair the right of
149	a quorum of the authority to exercise all of the rights and
150	perform all of the duties of the authority.
151	(b) Upon the effective date of his or her appointment, or
152	as soon thereafter as practicable, each appointed member of the
153	authority shall enter upon his or her duties.
154	(4)(a) The authority may employ an executive director, its
155	own counsel and legal staff, technical experts, engineers, and
156	such employees, permanent or temporary, as it may require; may
157	determine the qualifications and fix the compensation of such
158	persons, firms, or corporations; and may employ a fiscal agent
159	or agents. The authority may delegate to one or more of its
160	agents or employees such of its power as it shall deem necessary
161	to carry out the purposes of this part, subject always to the
162	supervision and control of the authority. Members of the
163	authority may be removed from office by the Governor for
164	misconduct, malfeasance, misfeasance, or nonfeasance in office.
165	(b) Members of the authority shall be entitled to receive
166	from the authority their travel and other necessary expenses
167	incurred in connection with the business of the authority as
168	provided in s. HYPERLINK "http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=Ch0348/index.cfm?App_mode=Display_Statute&Search_String=&URL=Ch0112/Sec061.HTM" 112.061 , but they shall draw no salaries or other
169	compensation.
170	349.34 Purposes and powers.--
171	(1)(a) The authority created and established by the
172	provisions of this part is hereby granted and shall have the
173	right to acquire, hold, construct, improve, maintain, operate,
174	own, and lease, in the capacity of lessor, the Southwest Florida
175	Transportation System, hereinafter referred to as the "system."
176	(b) It is the express intention of this part that said
177	authority, in the construction of said Southwest Florida
178	Transportation System, within the geographic boundaries of
179	Collier and Lee Counties, shall be authorized to construct any
180	extensions, additions, or improvements to said system or
181	appurtenant facilities, including all necessary approaches,
182	roads, bridges, and avenues of access, with such changes,
183	modifications, or revisions of said project as shall be deemed
184	desirable and proper.
185	(2) The authority is hereby granted and shall have and may
186	exercise all powers necessary, appurtenant, convenient, or
187	incidental to the carrying out of the aforesaid purposes,
188	including, but not limited to, the following rights and powers:
189	(a) To sue and be sued, implead and be impleaded,
190	complain, and defend in all courts.
191	(b) To adopt, use, and alter at will a corporate seal.
192	(c) To acquire by donation or otherwise, purchase, hold,
193	lease as lessee, and use any franchise or property, real,
194	personal, or mixed, tangible or intangible, or any options
195	thereof in its own name or in conjunction with others, or
196	interest therein, necessary or desirable for carrying out the
197	purposes of the authority, and to sell, lease as lessor,
198	transfer, and dispose of any property or interest therein at any
199	time acquired by it.
200	(d) To enter into and make leases for terms it deems
201	necessary, as either lessee or lessor, in order to carry out the
202	right to lease as set forth in this part.
203	(e) To enter into and make lease-purchase agreements with
204	the department for terms it deems necessary or until any bonds
205	secured by a pledge of rentals thereunder, and any refundings
206	thereof, are fully paid as to both principal and interest,
207	whichever is longer.
208	(f) To fix, alter, charge, establish, and collect rates,
209	fees, rentals, and other charges for the services and facilities
210	of the Southwest Florida Transportation System, which rates,
211	fees, rentals, and other charges shall always be sufficient to
212	comply with any covenants made with the holders of any bonds
213	issued pursuant to this part; provided, however, that such right
214	and power may be assigned or delegated, by the authority, to the
215	department.
216	(g) To borrow money and make and issue negotiable notes,
217	bonds, refunding bonds, and other evidences of indebtedness or
218	obligations, either in temporary or definitive form, hereinafter
219	in this part sometimes called "bonds" of the authority, for the
220	purpose of financing all or part of the improvement or extension
221	of the Southwest Florida Transportation System and appurtenant
222	facilities, including all approaches, streets, roads, bridges,
223	and avenues of access for said Southwest Florida Transportation
224	System, and for any other purpose authorized by this part; to
225	secure the payment of such bonds or any part thereof by a pledge
226	of any or all of its revenues, rates, fees, rentals, or other
227	charges; and in general to provide for the security of said
228	bonds and the rights and remedies of the holders thereof. The
229	authority may enter into an agreement between the authority and
230	one or more counties for the pledge of county gasoline tax
231	funds, county sales tax, or other county revenues to secure any
232	bonds issued for an authority project as authorized hereunder.
233	In the event the authority shall determine to fund or refund any
234	bonds theretofore issued by said authority, prior to the
235	maturity thereof, the proceeds of such funding or refunding
236	bonds shall, pending the prior redemption of the bonds to be
237	funded or refunded, be invested in direct obligations of the
238	United States, and it is the express intention of this part that
239	such outstanding bonds may be funded or refunded by the issuance
240	of bonds pursuant to this part.
241	(h) To make contracts of every name and nature, including,
242	but not limited to, partnerships providing for participation in
243	ownership and revenues, and to execute all instruments necessary
244	or convenient for the carrying on of its business.
245	(i) Without limitation of the foregoing, to borrow money
246	and accept grants from, and to enter into contracts, leases, or
247	other transactions with, any federal agency, the state, any
248	agency of the state, Collier County, Lee County, and any city
249	within these two counties or with any other public body of the
250	state.
251	(j) To have the power of eminent domain, including the
252	procedural powers granted under chapters 73 and 74.
253	(k) To pledge, hypothecate, or otherwise encumber all or
254	any part of the revenues, rates, fees, rentals, or other charges
255	or receipts of the authority as security for all or any of the
256	obligations of the authority.
257	(l) To do all acts and things necessary or convenient for
258	the conduct of its business and the general welfare of the
259	authority in order to carry out the powers granted to it by this
260	part or any other law.
261	(m) With the consent of the county within whose
262	jurisdiction the following activities occur, to construct,
263	operate, and maintain roads, bridges, avenues of access,
264	thoroughfares, and boulevards outside the jurisdictional
265	boundaries of Collier and Lee Counties, together with the right
266	to construct, repair, replace, operate, install, and maintain
267	toll payment systems thereon, with all necessary and incidental
268	powers to accomplish the foregoing.
269	(3) The authority shall have no power at any time or in
270	any manner to pledge the credit or taxing power of the state or
271	any political subdivision or agency thereof, including Collier
272	and Lee Counties or any city within these counties, nor shall
273	any of the authority's obligations be deemed to be obligations
274	of the state or of any political subdivision or agency thereof,
275	nor shall the state or any political subdivision or agency
276	thereof, except the authority, be liable for the payment of the
277	principal of or interest on such obligations unless agreed to by
278	such entity.
279	349.35 Procurement.--The authority is authorized to
280	procure commodities and the services of a qualified person or
281	entity to design, build, finance, operate, maintain, and
282	implement the Southwest Florida Transportation System, including
283	the use of a DBOM or DBOM & F method using a request for
284	proposal, a request for qualifications, or an invitation to
285	negotiate.
286	349.36 Bond financing authority for improvements.--
287	Pursuant to s. 11(f), Art. VII of the State Constitution, the
288	Legislature hereby approves for bond financing by the Southwest
289	Florida Transportation Authority improvements to toll collection
290	facilities, interchanges to the legislatively approved Regional
291	Transportation system, and any other facility appurtenant,
292	necessary, or incidental to the approved system. Subject to
293	terms and conditions of applicable revenue bond resolutions and
294	covenants, such costs may be financed in whole or in part by
295	revenue bonds issued pursuant to s. 348.755(1)(a) or (b) whether
296	currently issued or issued in the future, or by a combination of
297	such bonds.
298	349.37 Bonds of the authority.--
299	(1)(a) Bonds may be issued on behalf of the authority
300	pursuant to the State Bond Act.
301	(b) Alternatively, the authority may issue its own bonds
302	pursuant to this part at such times and in such principal amount
303	as, in the opinion of the authority, is necessary to provide
304	sufficient moneys for achieving its purposes; however, such
305	bonds may not pledge the full faith and credit of the state.
306	Bonds issued by the authority pursuant to this paragraph or
307	paragraph (a), whether on original issuance or on refunding,
308	shall be authorized by resolution of the members thereof and may
309	be either term or serial bonds and shall bear such date or
310	dates, mature at such time or times, bear interest at such rate
311	or rates, payable semiannually, be in such denominations, be in
312	such form, either coupon or fully registered, carry such
313	registration, exchangeability, and interchangeability
314	privileges, be payable in such medium of payment and at such
315	place or places, be subject to such terms of redemption, and be
316	entitled to such priorities on the revenues, rates, fees,
317	rentals, or other charges or receipts of the authority,
318	including any other funds received by the authority pursuant to
319	the terms of any lease-purchase agreement between the authority
320	and the department, as such resolution or any resolution
321	subsequent thereto may provide. The bonds shall be executed
322	either by manual or facsimile signature by such officers as the
323	authority shall determine, provided that such bonds shall bear
324	at least one signature which is manually executed thereon, and
325	the coupons attached to such bonds shall bear the facsimile
326	signature or signatures of such officer or officers as shall be
327	designated by the authority and shall have the seal of the
328	authority affixed, imprinted, reproduced, or lithographed
329	thereon, all as may be prescribed in such resolution or
330	resolutions.
331	(c) Bonds issued pursuant to paragraph (a) or paragraph
332	(b) shall be sold at public sale in the same manner provided by
333	the State Bond Act. However, if the authority shall, by official
334	action at a public meeting, determine that a negotiated sale of
335	such bonds is in the best interest of the authority, the
336	authority may negotiate the sale of such bonds with the
337	underwriter or underwriters designated by the authority and the
338	Division of Bond Finance of the State Board of Administration
339	with respect to bonds issued pursuant to paragraph (a) or solely
340	the authority with respect to bonds issued pursuant to paragraph
341	(b). The authority's determination to negotiate the sale of such
342	bonds may be based, in part, upon the written advice of the
343	authority's financial adviser. Pending the preparation of
344	definitive bonds, interim certificates may be issued to the
345	purchaser or purchasers of such bonds and may contain such terms
346	and conditions as the authority may determine.
347	(d) The authority may issue bonds pursuant to paragraph
348	(b) to refund any bonds previously issued regardless of whether
349	the bonds being refunded were issued by the authority pursuant
350	to this part or on behalf of the authority pursuant to the State
351	Bond Act.
352	(2) Any such resolution or resolutions authorizing any
353	bonds hereunder may contain provisions which shall be part of
354	the contract with the holders of such bonds, as to:
355	(a) The pledging of all or any part of the revenues,
356	rates, fees, rentals, or other charges or receipts of the
357	authority, derived by the authority, from the Southwest Florida
358	Transportation System.
359	(b) The completion, improvement, operation, extension,
360	maintenance, repair, lease, or lease-purchase agreement of said
361	system and the duties of the authority and others, including the
362	department, with reference thereto.
363	(c) Limitations on the purposes to which the proceeds of
364	the bonds, then or thereafter to be issued, or of any loan or
365	grant by the United States or the state may be applied.
366	(d) The fixing, charging, establishing, and collecting of
367	rates, fees, rentals, or other charges for use of the services
368	and facilities of the Southwest Florida Transportation System or
369	any part thereof.
370	(e) The setting aside of reserves or sinking funds or
371	repair and replacement funds and the regulation and disposition
372	thereof.
373	(f) Limitations on the issuance of additional bonds.
374	(g) The terms and provisions of any lease-purchase
375	agreement, deed of trust, or indenture securing the bonds or
376	under which the same may be issued.
377	(h) Any other or additional agreements with the holders of
378	the bonds which the authority may deem desirable and proper.
379	(3) The authority may employ fiscal agents as provided by
380	this part, or the State Board of Administration may, upon
381	request of the authority, act as fiscal agent for the authority
382	in the issuance of any bonds which may be issued pursuant to
383	this part, and the State Board of Administration may, upon
384	request of the authority, take over the management, control,
385	administration, custody, and payment of any or all debt services
386	or funds or assets now or hereafter available for any bonds
387	issued pursuant to this part. The authority may enter into any
388	deeds of trust, indentures, or other agreements with its fiscal
389	agent, or with any bank or trust company within or without the
390	state, as security for such bonds and may, under such
391	agreements, sign and pledge all or any of the revenues, rates,
392	fees, rentals, or other charges or receipts of the authority.
393	Such deed of trust, indenture, or other agreement may contain
394	such provisions as are customary in such instruments or, as the
395	authority may authorize, including, but without limitation,
396	provisions as to:
397	(a) The completion, improvement, operation, extension,
398	maintenance, repair, and lease of, or lease-purchase agreement
399	relating to, the Southwest Florida Transportation System and the
400	duties of the authority and others, including the department,
401	with reference thereto.
402	(b) The application of funds and the safeguarding of funds
403	on hand or on deposit.
404	(c) The rights and remedies of the trustee and the holders
405	of the bonds.
406	(d) The terms and provisions of the bonds or the
407	resolutions authorizing the issuance of same.
408	(4) Any of the bonds issued pursuant to this part are, and
409	are hereby declared to be, negotiable instruments and shall have
410	all the qualities and incidents of negotiable instruments under
411	the law merchant and the negotiable instruments law of the
412	state.
413	(5) Notwithstanding any of the provisions of this part,
414	each project, building, or facility which has been financed by
415	the issuance of bonds or other evidence of indebtedness under
416	this part and any refinancing thereof is hereby approved as
417	provided for in s. 11(f), Art. VII of the State Constitution.
418	349.38 Remedies of the bondholders.--
419	(1) The rights and the remedies herein conferred upon or
420	granted to the bondholders shall be in addition to and not in
421	limitation of any rights and remedies lawfully granted to such
422	bondholders by the resolution or resolutions providing for the
423	issuance of bonds, or by a lease-purchase agreement, deed of
424	trust, indenture, or other agreement under which the bonds may
425	be issued or secured. In the event that the authority shall
426	default in the payment of the principal of or interest on any of
427	the bonds issued pursuant to the provisions of this part after
428	such principal of or interest on said bonds shall have become
429	due, whether at maturity or upon call for redemption, or the
430	department shall default in any payments under, or covenants
431	made in, any lease-purchase agreement between the authority and
432	the department, and such default shall continue for a period of
433	30 days, or in the event that the authority or the department
434	shall fail or refuse to comply with the provisions of this part
435	or any agreement made with, or for the benefit of, the holders
436	of the bonds, the holders of 25 percent in aggregate principal
437	amount of the bonds then outstanding shall be entitled as of
438	right to the appointment of a trustee to represent such
439	bondholders for the purposes hereof; provided, however, that
440	such holders of 25 percent in aggregate principal amount of the
441	bonds then outstanding shall have first given notice of their
442	intention to appoint a trustee, to the authority and to the
443	department. Such notice shall be deemed to have been given if
444	given in writing, deposited in a securely sealed postpaid
445	wrapper, mailed at a regularly maintained United States post
446	office box or station, and addressed, respectively, to the chair
447	of the authority and to the secretary of the Department of
448	Transportation at the principal office of the department.
449	(2) Such trustee, and any trustee under any deed of trust,
450	indenture, or other agreement, may, and upon written request of
451	the holders of 25 percent, or such other percentages as may be
452	specified in any deed of trust, indenture, or other agreement
453	aforesaid, in principal amount of the bonds then outstanding,
454	shall, in any court of competent jurisdiction, in his, her, or
455	its own name:
456	(a) By mandamus or other suit, action, or proceeding at
457	law or in equity, enforce all rights of the bondholders,
458	including the right to require the authority to fix, establish,
459	maintain, collect, and charge rates, fees, rentals, and other
460	charges, adequate to carry out any agreement as to, or pledge
461	of, the revenues or receipts of the authority to carry out any
462	other covenants and agreements with or for the benefit of the
463	bondholders, and to perform its and their duties under this
464	part.
465	(b) By mandamus or other suit, action, or proceeding at
466	law or in equity, enforce all rights of the bondholders under or
467	pursuant to any lease-purchase agreement between the authority
468	and the department, including the right to require the
469	department to make all rental payments required to be made by it
470	under the provisions of any such lease-purchase agreement, and
471	to require the department to carry out any other covenants and
472	agreements with or for the benefit of the bondholders, and to
473	perform its and their duties under this part.
474	(c) Bring suit upon the bonds.
475	(d) By action or suit in equity, require the authority or
476	the department to account as if it were the trustee of an
477	express trust for the bondholders.
478	(e) By action or suit in equity, enjoin any acts or things
479	which may be unlawful or in violation of the rights of the
480	bondholders.
481	(3) Any trustee, when appointed as aforesaid or acting
482	under a deed of trust, indenture, or other agreement, and
483	whether or not all bonds have been declared due and payable,
484	shall be entitled as of right to the appointment of a receiver,
485	who may enter upon and take possession of the Southwest Florida
486	Transportation System or the facilities or any part or parts
487	thereof, the rates, fees, rentals, or other revenues, charges,
488	or receipts from which are, or may be, applicable to the payment
489	of the bonds so in default, and subject to and in compliance
490	with the provisions of any lease-purchase agreement between the
491	authority and the department operate and maintain the same, for
492	and on behalf of and in the name of, the authority, the
493	department, and the bondholders, and collect and receive all
494	rates, fees, rentals, and other charges or receipts or revenues
495	arising therefrom in the same manner as the authority or the
496	department might do, and shall deposit all such moneys in a
497	separate account and apply the same in such manner as the court
498	shall direct. In any suit, action, or proceeding by the trustee,
499	the fees, counsel fees, and expenses of the trustee, and said
500	receiver, if any, and all costs and disbursements allowed by the
501	court shall be a first charge on any rates, fees, rentals, or
502	other charges, revenues, or receipts derived from the Southwest
503	Florida Transportation System, or the facilities or services or
504	any part or parts thereof, including payments under any such
505	lease-purchase agreement as aforesaid which said rates, fees,
506	rentals, or other charges, revenues, or receipts shall or may be
507	applicable to the payment of the bonds so in default. Such
508	trustee shall, in addition to the foregoing, have and possess
509	all of the powers necessary or appropriate for the exercise of
510	any functions specifically set forth herein or incident to the
511	representation of the bondholders in the enforcement and
512	protection of their rights.
513	(4) Nothing in this section or any other section of this
514	part shall authorize any receiver appointed pursuant hereto for
515	the purpose, subject to and in compliance with the provisions of
516	any lease-purchase agreement between the authority and the
517	department, of operating and maintaining the Southwest Florida
518	Transportation System or any facilities or part or parts thereof
519	to sell, assign, mortgage, or otherwise dispose of any of the
520	assets of whatever kind and character belonging to the
521	authority. It is the intention of this part to limit the powers
522	of such receiver, subject to and in compliance with the
523	provisions of any lease-purchase agreement between the authority
524	and the department, to the operation and maintenance of the
525	Southwest Florida Transportation System, or any facility or part
526	or parts thereof, as the court may direct, in the name and for
527	and on behalf of the authority, the department, and the
528	bondholders, and no holder of bonds on the authority nor any
529	trustee shall ever have the right in any suit, action, or
530	proceeding at law or in equity to compel a receiver, nor shall
531	any receiver be authorized or any court be empowered to direct
532	the receiver to sell, assign, mortgage, or otherwise dispose of
533	any assets of whatever kind or character belonging to the
534	authority.
535	349.39 Lease-purchase agreement.--
536	(1) In order to effectuate the purposes of this part and
537	as authorized by this part, the authority may enter into a
538	lease-purchase agreement with the department relating to and
539	covering the Southwest Florida Transportation System.
540	(2) Such lease-purchase agreement shall provide for the
541	leasing of the Southwest Florida Transportation System by the
542	authority, as lessor, to the department, as lessee; shall
543	prescribe the term of such lease and the rentals to be paid
544	thereunder; and shall provide that upon the completion of the
545	faithful performance thereunder and the termination of such
546	lease-purchase agreement, title in fee simple absolute to the
547	Southwest Florida Transportation System as then constituted
548	shall be transferred in accordance with law by the authority to
549	the state and the authority shall deliver to the department such
550	deeds and conveyances as shall be necessary or convenient to
551	vest title in fee simple absolute in the state.
552	(3) Such lease-purchase agreement may include such other
553	provisions, agreements, and covenants as the authority and the
554	department deem advisable or required, including, but not
555	limited to, provisions as to the bonds to be issued under, and
556	for the purposes of, this part; the completion, extension,
557	improvement, operation, and maintenance of the Southwest Florida
558	Transportation System and the expenses and the cost of operation
559	of said authority; the charging and collection of tolls, rates,
560	fees, and other charges for the use of the services and
561	facilities thereof; the application of federal or state grants
562	or aid which may be made or given to assist the authority in the
563	completion, extension, improvement, operation, and maintenance
564	of the Southwest Florida Transportation System, which the
565	authority is hereby authorized to accept and apply to such
566	purposes; the enforcement of payment and collection of rentals;
567	and any other terms, provisions, or covenants necessary,
568	incidental, or appurtenant to the making of and full performance
569	under such lease-purchase agreement.
570	(4) The department, as lessee under such lease-purchase
571	agreement, is hereby authorized to pay as rentals thereunder any
572	rates, fees, charges, funds, moneys, receipts, or income
573	accruing to the department from the operation of the Southwest
574	Florida Transportation System and may also pay as rentals any
575	appropriations received by the department pursuant to any act of
576	the Legislature of the state heretofore or hereafter enacted;
577	provided, however, that nothing herein nor in such lease-
578	purchase agreement is intended to nor shall this part or such
579	lease-purchase agreement require the making or continuance of
580	such appropriations, nor shall any holder of bonds issued
581	pursuant to this part ever have any right to compel the making
582	or continuance of such appropriations.
583	(5) Said department shall have power to covenant in any
584	lease-purchase agreement that it will pay all or any part of the
585	cost of the operation, maintenance, repair, renewal, and
586	replacement of said system, and any part of the cost of
587	completing said system to the extent that the proceeds of bonds
588	issued therefor are insufficient, from sources other than the
589	revenues derived from the operation of said system. Said
590	department may also agree to make such other payments from any
591	moneys available to said commission, said county, or said city
592	in connection with the construction or completion of said system
593	as shall be deemed by said department to be fair and proper
594	under any such covenants heretofore or hereafter entered into.
595	(6) Said system shall be a part of the state road system
596	and said department is hereby authorized, upon the request of
597	the authority, to expend out of any funds available for the
598	purpose such moneys, and to use such of its engineering and
599	other forces, as may be necessary and desirable in the judgment
600	of said department, for the operation of said authority and for
601	traffic surveys, borings, surveys, preparation of plans and
602	specifications, estimates of cost and other preliminary
603	engineering, and other studies.
604	349.40 Department may be appointed agent of authority for
605	construction.--The department may be appointed by said authority
606	as its agent for the purpose of constructing improvements and
607	extensions to the Southwest Florida Transportation System and
608	for the completion thereof. In such event, the authority shall
609	provide the department with complete copies of all documents,
610	agreements, resolutions, contracts, and instruments relating
611	thereto and shall request the department to do such construction
612	work including the planning, surveying, and actual construction
613	of the completion, extensions, and improvements to the Southwest
614	Florida Transportation System and shall transfer to the credit
615	of an account of the department in the treasury of the state the
616	necessary funds therefor, and the department shall thereupon be
617	authorized, empowered, and directed to proceed with such
618	construction and to use the said funds for such purpose in the
619	same manner that it is now authorized to use the funds otherwise
620	provided by law for its use in construction of roads and
621	bridges.
622	349.41 Acquisition of lands and property.--
623	(1) For the purposes of this part, the Southwest Florida
624	Transportation Authority may acquire private or public property
625	and property rights, including rights of access, air, view, and
626	light, by gift, devise, purchase, or condemnation by eminent
627	domain proceedings, as the authority may deem necessary for any
628	of the purposes of this part, including, but not limited to, any
629	lands reasonably necessary for securing applicable permits,
630	areas necessary for management of access, borrow pits, drainage
631	ditches, water retention areas, rest areas, replacement access
632	for landowners whose access is impaired due to the construction
633	of a facility, and replacement rights-of-way for relocated rail
634	and utility facilities; for existing, proposed, or anticipated
635	transportation facilities on the Southwest Florida
636	Transportation System or in a transportation corridor designated
637	by the authority; or for the purposes of screening, relocation,
638	removal, or disposal of junkyards and scrap metal processing
639	facilities. The authority shall also have the power to condemn
640	any material and property necessary for such purposes.
641	(2) The right of eminent domain herein conferred shall be
642	exercised by the authority in the manner provided by law.
643	(3) When the authority acquires property for a
644	transportation facility or in a transportation corridor, it is
645	not subject to any liability imposed by chapter 376 or chapter
646	403 for preexisting soil or groundwater contamination due solely
647	to its ownership. This section does not affect the rights or
648	liabilities of any past or future owners of the acquired
649	property, nor does it affect the liability of any governmental
650	entity for the results of its actions which create or exacerbate
651	a pollution source. The authority and the Department of
652	Environmental Protection may enter into interagency agreements
653	for the performance, funding, and reimbursement of the
654	investigative and remedial acts necessary for property acquired
655	by the authority.
656	349.42 Cooperation with other units, boards, agencies, and
657	individuals.--Express authority and power is hereby given and
658	granted any county, municipality, drainage district, road and
659	bridge district, school district, or any other political
660	subdivision, board, commission, or individual in, or of, the
661	state to make and enter into with the authority contracts,
662	leases, conveyances, partnerships, or other agreements within
663	the provisions and purposes of this part. The authority is
664	hereby expressly authorized to make and enter into contracts,
665	leases, conveyances, partnerships, and other agreements with any
666	political subdivision, agency, or instrumentality of the state
667	and any and all federal agencies, corporations, and individuals
668	for the purpose of carrying out the provisions of this part.
669	349.43 Covenant of the state.--The state does hereby
670	pledge to and agrees with any person, firm, corporation, or
671	federal or state agency subscribing to or acquiring the bonds to
672	be issued by the authority for the purposes of this part that
673	the state will not limit or alter the rights hereby vested in
674	the authority and the department until all bonds at any time
675	issued, together with the interest thereon, are fully paid and
676	discharged insofar as the same affects the rights of the holders
677	of bonds issued hereunder. The state does further pledge to and
678	agree with the United States that in the event any federal
679	agency shall construct or contribute any funds for the
680	completion, extension, or improvement of the Southwest Florida
681	Transportation System, or any part or portion thereof, the state
682	will not alter or limit the rights and powers of the authority
683	and the department in any manner which would be inconsistent
684	with the continued maintenance and operation of the Southwest
685	Florida Transportation System or the completion, extension, or
686	improvement thereof or which would be inconsistent with the due
687	performance of any agreements between the authority and any such
688	federal agency, and the authority and the department shall
689	continue to have and may exercise all powers herein granted, so
690	long as the same shall be necessary or desirable for the
691	carrying out of the purposes of this part and the purposes of
692	the United States in the completion, extension, or improvement
693	of the Southwest Florida Transportation System or any part or
694	portion thereof.
695	349.44 Exemption from taxation.--The effectuation of the
696	authorized purposes of the authority created under this part is,
697	shall, and will be in all respects for the benefit of the people
698	of the state, for the increase of their commerce and prosperity,
699	and for the improvement of their health and living conditions,
700	and since such authority will be performing essential
701	governmental functions in effectuating such purposes, such
702	authority shall not be required to pay any taxes or assessments
703	of any kind or nature whatsoever upon any property acquired or
704	used by it for such purposes, or upon any rates, fees, rentals,
705	receipts, income, or charges at any time received by it, and the
706	bonds issued by the authority, their transfer, and the income
707	therefrom, including any profits made on the sale thereof, shall
708	at all times be free from taxation of any kind by the state, or
709	by any political subdivision, taxing agency, or instrumentality
710	thereof. The exemption granted by this section shall not be
711	applicable to any tax imposed by chapter 220 on interest,
712	income, or profits on debt obligations owned by corporations.
713	349.45 Eligibility for investments and security.--Any
714	bonds or other obligations issued pursuant to this part shall be
715	and constitute legal investments for banks, savings banks,
716	trustees, executors, administrators, and all other fiduciaries
717	and for all state, municipal, and other public funds and shall
718	also be and constitute securities eligible for deposit as
719	security for all state, municipal, or other public funds,
720	notwithstanding the provisions of any other law or laws to the
721	contrary.
722	349.46 Pledges enforceable by bondholders.--It is the
723	express intention of this part that any pledge by the department
724	of rates, fees, revenues, or other funds, as rentals, to the
725	authority, or any covenants or agreements relative thereto, may
726	be enforceable in any court of competent jurisdiction against
727	the authority or directly against the department by any holder
728	of bonds issued by the authority.
729	349.47 This part complete and additional authority.--
730	(1) The powers conferred by this part shall be in addition
731	and supplemental to the existing powers of said board and the
732	department, and this part shall not be construed as repealing
733	any of the provisions of any other law, general, special or
734	local, but to supersede such other laws in the exercise of the
735	powers provided in this part and to provide a complete method
736	for the exercise of the powers granted in this part. The
737	extension and improvement of said Southwest Florida
738	Transportation System, and the issuance of bonds hereunder to
739	finance all or part of the cost thereof, may be accomplished
740	upon compliance with the provisions of this part without regard
741	to or necessity for compliance with the provisions, limitations,
742	or restrictions contained in any other general, special, or
743	local law, including, but not limited to, s. 215.821, and no
744	approval of any bonds issued under this part by the qualified
745	electors or qualified electors who are freeholders in the state
746	or in said Collier County or Lee County, or in any city within
747	these two counties, or in any other political subdivision of the
748	state, shall be required for the issuance of such bonds pursuant
749	to this part.
750	(2) This part shall not be deemed to repeal, rescind, or
751	modify any other law or laws relating to said State Board of
752	Administration, said Department of Transportation, or the
753	Division of Bond Finance of the State Board of Administration
754	but shall be deemed to and shall supersede such other law or
755	laws as are inconsistent with the provisions of this part,
756	including, but not limited to, s. 215.821.
757	Section 3. Subsections (1), (3), and (4) of section
758	349.02, Florida Statutes, are amended to read:
759	349.02 Definitions.--The following terms whenever used or
760	referred to in this law shall have the following meanings,
761	except in those instances where the context clearly indicates
762	otherwise:
763	(1) The term "authority" shall mean the body politic and
764	corporate, an agency of the state created by thispartchapter.
765	(3) The term "bonds" shall mean and include the notes,
766	bonds, refunding bonds or other evidences of indebtedness or
767	obligations in either temporary or definitive form, which the
768	authority is authorized to issue pursuant to thispartchapter.
769	(4) The term "lease-purchase agreement" shall mean the
770	lease-purchase agreements which the authority is authorized
771	pursuant to thispartchapterto enter into with the Department
772	of Transportation.
773	Section 4. Paragraphs (a) and (d) of subsection (1) and
774	paragraphs (d), (f), (g), (l), and (m) of subsection (2) of
775	section 349.04, Florida Statutes, are amended to read:
776	349.04 Purposes and powers.--
777	(1)(a) The authority created and established by the
778	provisions of thispartchapteris hereby granted and shall have
779	the right to acquire, hold, construct, improve, maintain,
780	operate, own, and lease in the capacity of lessor the
781	Jacksonville Expressway System (hereinafter referred to as
782	"system"), heretofore partially constructed or acquired by the
783	Florida State Improvement Commission in the Jacksonville, Duval
784	County, metropolitan area, as more specifically described in the
785	proceedings of the commission which authorized the issuance of
786	$28 million in bonds of the commission for such purpose, and as
787	hereafter completed or improved or extended as authorized by
788	thispartchapter, and all appurtenant facilities, including all
789	approaches, streets, roads, bicycle paths, bridges, and avenues
790	of access for the Jacksonville Expressway System, and to
791	construct or acquire extensions, additions, and improvements to
792	the system and to complete the construction and acquisition of
793	the system.
794	(d) It is the express intention of thispartchapterthat
795	the authority, in completing the construction of the
796	Jacksonville Expressway System, is not limited to the
797	description thereof contained in the proceedings of the
798	commission which authorized the issuance of $28 million in bonds
799	to finance part of the cost thereof, but it is authorized to
800	construct any additional extensions, additions, or improvements
801	to the system, or appurtenant facilities, including all
802	necessary approaches, roads, bicycle ways, bridges, and avenues
803	of access, with such changes, modifications, or revisions of the
804	project as are deemed desirable and proper. It is the intent of
805	thispartchapter, and to effect its purposes the Legislature
806	determines, that bonds issued under thispartchapterbe deemed
807	to be state capital improvement bonds to finance or refinance
808	the cost of state capital projects. However, the provisions of
809	s. 316.091(2), relating to bicycles, do not apply to this
810	system.
811	(2) The authority is hereby granted, and shall have and
812	may exercise all powers necessary, appurtenant, convenient, or
813	incidental to the carrying out of the aforesaid purposes,
814	including, but without being limited to, the right and power:
815	(d) To enter into and make leases for terms not exceeding
816	40 years, as either lessee or lessor, in order to carry out the
817	right to lease as set forth in thispartchapter.
818	(f) To fix, alter, charge, establish, and collect rates,
819	fees, rentals, and other charges for the services and facilities
820	of the Jacksonville Expressway System, which rates, fees,
821	rentals, and other charges shall always be sufficient to comply
822	with any covenants made with the holders of any bonds issued
823	pursuant to thispartchapter; this right and power may be
824	assigned or delegated by the authority to the department.
825	(g)1. To borrow money and make and issue negotiable notes,
826	bonds, refunding bonds, and other evidences of indebtedness or
827	obligations, either in temporary or definitive form,
828	(hereinafter in thispartchaptersometimes called "bonds") of
829	the authority, for the purpose of funding or refunding, at or
830	prior to maturity, any bonds theretofore issued by the
831	authority, or by the Florida State Improvement Commission to
832	finance part of the cost of the Jacksonville Expressway System,
833	and purposes related thereto, and for the purpose of financing
834	all or part of the completion or improvement or extension of the
835	Jacksonville Expressway System, and appurtenant facilities,
836	including all approaches, streets, roads, bridges, and avenues
837	of access for the Jacksonville Expressway System and for any
838	other purpose authorized by thispartchapter, such bonds to
839	mature in not exceeding 40 years from the date of the issuance
840	thereof; and to secure the payment of such bonds or any part
841	thereof by a pledge of any or all of its revenues, rates, fees,
842	rentals, or other charges, including all or any portion of the
843	Duval County gasoline tax funds received by the authority
844	pursuant to the terms of any lease-purchase agreement between
845	the authority and the department; and in general to provide for
846	the security of such bonds and the rights and remedies of the
847	holders thereof.
848	2. In the event that the authority determines to fund or
849	refund any bonds theretofore issued by the authority, or by the
850	commission as aforesaid, prior to the maturity thereof, the
851	proceeds of such funding or refunding bonds shall, pending the
852	prior redemption of the bonds to be funded or refunded, be
853	invested in direct obligations of the United States; and it is
854	the express intention of thispartchapterthat such outstanding
855	bonds may be funded or refunded by the issuance of bonds
856	pursuant to thispartchapternotwithstanding that part of such
857	outstanding bonds will not mature or become redeemable until 6
858	years after the date of issuance of bonds pursuant to thispart
859	chapterto fund or refund such outstanding bonds.
860	(l) To do all acts and things necessary or convenient for
861	the conduct of its business and the general welfare of the
862	authority, in order to carry out the powers granted to it by
863	thispartchapteror any other law.
864	(m) To borrow money and make and issue negotiable notes,
865	bonds, refunding bonds, and other evidences of indebtedness,
866	either in temporary or definitive form, of the authority for the
867	purpose of funding or refunding the cost of the acquisition of
868	motor or street railway vehicles, passenger terminals,
869	automobile parking facilities, or administrative offices and for
870	any other purposes authorized by thispartchapter, such bonds
871	to mature in not exceeding 40 years from the date of the
872	issuance thereof; to secure the payment of such bonds or any
873	part thereof by a pledge of any or all of its revenues, rates,
874	fees, rentals, or other charges; and in general to provide for
875	the security of such bonds and the rights and remedies of the
876	holders thereof.
877	Section 5. Paragraph (a) of subsection (1) and subsections
878	(3), (4), and (5) of section 349.05, Florida Statutes, are
879	amended to read:
880	349.05 Bonds of the authority.--
881	(1)(a) The bonds of the authority issued pursuant to the
882	provisions of thispartchapter, whether an original issuance or
883	on refunding, shall be authorized by resolution of the members
884	thereof and may be either term or serial bonds and shall bear
885	such date or dates, mature at such time or times, not exceeding
886	40 years from their respective dates, bear interest at such rate
887	or rates, payable semiannually, be in such denominations, be in
888	such form, either coupon or fully registered, carry such
889	registration, exchangeability, and interchangeability
890	privileges, be payable in such medium of payment and at such
891	place or places, be subject to such terms of redemption, and be
892	entitled to such priorities on the revenues, rates, fees,
893	rentals, or other charges or receipts of the authority including
894	the Duval County gasoline tax funds received by the authority
895	pursuant to the terms of any lease-purchase agreement between
896	the authority and the department, as such resolution or any
897	resolution subsequent thereto may provide. The bonds shall be
898	executed either by manual or facsimile signature by such
899	officers as the authority shall determine, provided that such
900	bonds shall bear at least one signature which is manually
901	executed thereon, and the coupons attached to such bonds shall
902	bear the facsimile signature or signatures of such officer or
903	officers as shall be designated by the authority and shall have
904	the seal of the authority affixed, imprinted, reproduced,
905	lithographed thereon, all as may be prescribed in such
906	resolution or resolutions.
907	(3) The authority may employ fiscal agents as provided by
908	thispartchapteror the State Board of Administration may, upon
909	request by the authority, act as fiscal agent for the authority
910	in the issuance of any bonds that may be issued pursuant to this
911	partchapter, and the State Board of Administration may, upon
912	request by the authority, take over the management, control,
913	administration, custody, and payment of any or all debt services
914	or funds or assets now or hereafter available for any bonds
915	issued pursuant to thispartchapter. The authority may enter
916	into deeds of trust, indentures, or other agreements with its
917	fiscal agent, or with any bank or trust company within or
918	without the state, as security for such bonds, and may, under
919	such agreements, assign and pledge all or any of the revenues,
920	rates, fees, rentals, or other charges or receipts of the
921	authority, including all or any portion of the Duval County
922	gasoline tax funds received by the authority pursuant to the
923	terms of any lease-purchase agreement between the authority and
924	the department, thereunder. Such deed of trust, indenture, or
925	other agreement, may contain such provisions as is customary in
926	such instruments or, as the authority may authorize, including,
927	but without limitation, provisions as to:
928	(a) The completion, improvement, operation, extension,
929	maintenance, repair, and lease of, or lease-purchase agreement
930	relating to, the Jacksonville Expressway System, and the duties
931	of the authority and others, including the department, with
932	reference thereto;
933	(b) The application of funds and the safeguarding of funds
934	on hand or on deposit;
935	(c) The rights and remedies of the trustee and the holders
936	of the bonds; and
937	(d) The terms and provisions of the bonds or the
938	resolutions authorizing the issuance of the same.
939	(4) Any of the bonds issued pursuant to thispartchapter
940	are, and are hereby declared to be, negotiable instruments, and
941	shall have all the qualities and incidents of negotiable
942	instruments under the law merchant and the negotiable
943	instruments law of the state.
944	(5) Notwithstanding any of the provisions of thispart
945	chapter, each project, building, or facility which has been
946	financed by the issuance of bonds or other evidences of
947	indebtedness under thispartchapterand any refinancing thereof
948	is hereby approved as provided for in s. 11(f), Art. VII of the
949	State Constitution.
950	Section 6. Subsection (1), paragraphs (a) and (b) of
951	subsection (2), and subsection (4) of section 349.06, Florida
952	Statutes, are amended to read:
953	349.06 Remedies of the bondholders.--
954	(1) The rights and the remedies herein conferred upon or
955	granted to the bondholders shall be in addition to and not in
956	limitation of any rights and remedies lawfully granted to such
957	bondholders by the resolution or resolutions providing for the
958	issuance of bonds, or by any lease-purchase agreement, deed of
959	trust, indenture or other agreement under which the bonds may be
960	issued or secured. In the event that the authority shall default
961	in the payment of the principal of or interest on any of the
962	bonds issued pursuant to the provisions of thispartchapter
963	after such principal of or interest on said bonds shall have
964	become due, whether at maturity or upon call for redemption, or
965	the department shall default in any payments under, or covenants
966	made in, any lease-purchase agreement between the authority and
967	the department, and such default shall continue for a period of
968	30 days, or in the event that the authority or the department
969	shall fail or refuse to comply with the provisions of thispart
970	chapteror any agreement made with, or for the benefit of, the
971	holders of the bonds, the holders of 25 percent in aggregate
972	principal amount of the bonds then outstanding shall be entitled
973	as of right to the appointment of a trustee to represent such
974	bondholders for the purposes hereof; provided, however, that
975	such holders of 25 percent in aggregate principal amount of the
976	bonds then outstanding shall have first given notice of their
977	intention to appoint a trustee, to the authority and to the
978	department. Such notice shall be deemed to have been given if
979	given in writing, and deposited in a securely sealed postpaid
980	wrapper, mailed at a regularly maintained United States post
981	office box or station and addressed, to the chair of the
982	authority at the principal office of the authority and to the
983	secretary of the Department of Transportation at the principal
984	office of the department.
985	(2) Such trustee, and any trustee under any deed of trust,
986	indenture or other agreement, may, and upon written request of
987	the holders of 25 percent (or such other percentages as may be
988	specified in any deed of trust, indenture or other agreement
989	aforesaid) in principal amount of the bonds then outstanding,
990	shall, in any court of competent jurisdiction, in his, her, or
991	its own name:
992	(a) By mandamus or other suit, action or proceeding at
993	law, or in equity, enforce all rights of the bondholders,
994	including the right to require the authority to fix, establish,
995	maintain, collect and charge rates, fees, rentals, and other
996	charges, adequate to carry out any agreement as to, or pledge
997	of, the revenues or receipts of the authority, and to require
998	the authority to carry out any other covenants and agreements
999	with or for the benefit of the bondholders, and to perform its
1000	and their duties under thispartchapter,
1001	(b) By mandamus or other suit, action or proceeding at
1002	law, or in equity, enforce all rights of the bondholders under
1003	or pursuant to any lease-purchase agreement between the
1004	authority and the department, including the right to require the
1005	department to make all rental payments required to be made by it
1006	under the provisions of any such lease-purchase agreement,
1007	whether from the Duval County gasoline tax funds or other funds
1008	of the department so agreed to be paid and to require the
1009	department to carry out any other covenants and agreements with
1010	or for the benefit of the bondholders, and to perform its and
1011	their duties under thispartchapter,
1012	(4) Nothing in this section or any other section of this
1013	partchaptershall authorize any receiver appointed pursuant
1014	hereto for the purpose, subject to and in compliance with the
1015	provisions of any lease-purchase agreement between the authority
1016	and the department, of operating and maintaining the
1017	Jacksonville Expressway System or any facilities or part or
1018	parts thereof, to sell, assign, mortgage or otherwise dispose of
1019	any of the assets of whatever kind and character belonging to
1020	the authority. It is the intention of thispartchapterto limit
1021	the powers of such receiver, subject to and in compliance with
1022	the provisions of any lease-purchase agreement between the
1023	authority and the department, to the operation and maintenance
1024	of the Jacksonville Expressway System, or any facility, or part
1025	or parts thereof, as the court may direct, in the name and for
1026	and on behalf of the authority, the department and the
1027	bondholders, and no holder of bonds of the authority nor any
1028	trustee, shall ever have the right in any suit, action or
1029	proceeding at law, or in equity, to compel a receiver, nor shall
1030	any receiver be authorized or any court be empowered to direct
1031	the receiver to sell, assign, mortgage or otherwise dispose of
1032	any assets of whatever kind or character belonging to the
1033	authority.
1034	Section 7. Subsections (1), (3), and (4) of section
1035	349.07, Florida Statutes, are amended to read:
1036	349.07 Lease-purchase agreement.--
1037	(1) In order to effectuate the purposes of thispart
1038	chapterand as authorized by thispartchapter, the authority
1039	may enter into a lease-purchase agreement with the department
1040	relating to and covering the Jacksonville Expressway System.
1041	(3) Such lease-purchase agreement may include such other
1042	provisions, agreements and covenants as the authority and the
1043	department deem advisable or required, including, but not
1044	limited to, provisions as to the bonds to be issued under and
1045	for the purposes of thispartchapter, the completion,
1046	extension, improvement, operation and maintenance of the
1047	Jacksonville Expressway System and the expenses and cost of
1048	operation of said authority, the charging and collecting of
1049	tolls, rates, fees and other charges for the use of the services
1050	and facilities thereof, the application of federal or state
1051	grants or aid which may be made or given to assist the authority
1052	in the completion, extension, improvement, operation and
1053	maintenance of the Jacksonville Expressway System, which the
1054	authority is hereby authorized to accept and apply to such
1055	purposes, the enforcement of payment and collection of rentals
1056	and any other terms, provisions or covenants necessary,
1057	incidental or appurtenant to the making of and full performance
1058	under such lease-purchase agreement.
1059	(4) The department, as lessee under such lease-purchase
1060	agreement, is hereby authorized to pay as rentals thereunder any
1061	rates, fees, charges, funds, moneys, receipts or income accruing
1062	to the department from the operation of the Jacksonville
1063	Expressway System and the Duval County gasoline tax funds and
1064	may also pay as rentals any appropriations received by the
1065	department pursuant to any act of the Legislature of the state
1066	heretofore or hereafter enacted; provided, however, that nothing
1067	herein or in such lease-purchase agreement is intended to, nor
1068	shall thispartchapteror such lease-purchase agreement
1069	require, the making or continuance of such appropriations, nor
1070	shall any holder of bonds issued pursuant to thispartchapter
1071	ever have any right to compel the making or continuance of such
1072	appropriations.
1073	Section 8. Subsection (1) of section 349.08, Florida
1074	Statutes, is amended to read:
1075	349.08 Transfer of existing Jacksonville Expressway System
1076	to authority.--
1077	(1) In order to effectuate the purposes of thispart
1078	chapter, and subject to the rights of any holders of bonds
1079	heretofore issued by said Florida State Improvement Commission
1080	to finance any part of the cost of said Jacksonville Expressway
1081	System heretofore constructed by Florida State Improvement
1082	Commission in the Jacksonville, Duval County, metropolitan area,
1083	and to the rights of the State Road Department under any lease-
1084	purchase agreement heretofore entered into therefor between
1085	Florida State Improvement Commission and said State Road
1086	Department, all the right, title and interest in and to said
1087	Jacksonville Expressway System, and all powers, jurisdiction and
1088	control over or relating thereto, heretofore vested in Florida
1089	State Improvement Commission, upon the request of the authority,
1090	shall be transferred, set over, assigned and conveyed to said
1091	authority, and said Florida State Improvement Commission shall
1092	thereupon transmit to the proper officers of the authority all
1093	deeds, conveyances, documents, books and records relating to
1094	said system, and shall execute all necessary documents and
1095	papers to carry out and consummate the conveyance and transfer
1096	of said system to said authority as provided for in thispart
1097	chapter; provided, however, that in the event no such request is
1098	made by said authority on or before April 1, 1956, then, and in
1099	such event, thispartchaptershall be of no force or effect
1100	and, thereafter, all powers, jurisdiction and control over or
1101	relating to said Jacksonville Expressway System existing in the
1102	Florida State Improvement Commission, the State Road Department
1103	and the State Board of Administration prior to the enactment of
1104	thispartchaptershall continue in full force and effect to the
1105	same extent as if thispartchapterhad never been enacted.
1106	Section 9. Subsections (1) and (2) of section 349.10,
1107	Florida Statutes, are amended to read:
1108	349.10 Acquisition of lands and property.--
1109	(1) For the purposes of this law the Jacksonville
1110	Transportation Authority may acquire private or public property
1111	and property rights, including rights of access, air, view, and
1112	light, by gift, devise, purchase, or condemnation by eminent
1113	domain proceedings, as the authority may deem necessary for any
1114	of the purposes of thispartchapter. The right of eminent
1115	domain herein conferred shall be exercised by the authority in
1116	the manner provided by law.
1117	(2) The authority may acquire such rights, title,
1118	interest, or easements in such lands as it may deem necessary
1119	for any of the purposes of thispartchapter.
1120	Section 10. Section 349.11, Florida Statutes, is amended
1121	to read:
1122	349.11 Cooperation with other units, boards, agencies, and
1123	individuals.--Express authority and power is hereby given and
1124	granted any county, municipality, drainage district, road and
1125	bridge district, school district or any other political
1126	subdivision, board, commission or individual in, or of, the
1127	state to make and enter into with the authority, contracts,
1128	leases, conveyances, or other agreements within the provisions
1129	and purposes of thispartchapter. The authority is hereby
1130	expressly authorized to make and enter into contracts, leases,
1131	conveyances and other agreements with any political subdivision,
1132	agency or instrumentality of the state and any and all federal
1133	agencies, corporations and individuals, for the purpose of
1134	carrying out the provisions of thispartchapter.
1135	Section 11. Section 349.12, Florida Statutes, is amended
1136	to read:
1137	349.12 Covenant of the state.--The state does hereby
1138	pledge to, and agrees, with any person, firm or corporation, or
1139	federal or state agency subscribing to, or acquiring the bonds
1140	to be issued by the authority for the purposes of thispart
1141	chapterthat the state will not limit or alter the rights hereby
1142	vested in the authority and the department until all bonds at
1143	any time issued, together with the interest thereon, are fully
1144	paid and discharged insofar as the same affects the rights of
1145	the holders of bonds issued hereunder. The state does further
1146	pledge to, and agree, with the United States and any federal
1147	agency that, in the event that any federal agency shall
1148	construct or contribute any funds for the completion, extension
1149	or improvement of the Jacksonville Expressway System, or any
1150	part or portion thereof, the state will not alter or limit the
1151	rights and powers of the authority and the department in any
1152	manner which would be inconsistent with the continued
1153	maintenance and operation of the Jacksonville Expressway System
1154	or the completion, extension or improvement thereof, or which
1155	would be inconsistent with the due performance of any agreements
1156	between the authority and any such federal agency, and the
1157	authority and the department shall continue to have and may
1158	exercise all powers herein granted, so long as the same shall be
1159	necessary or desirable for the carrying out of the purposes of
1160	thispartchapterand the purposes of the United States in the
1161	completion, extension or improvement of the Jacksonville
1162	Expressway System, or any part or portion thereof.
1163	Section 12. Section 349.13, Florida Statutes, is amended
1164	to read:
1165	349.13 Exemption from taxation.--The effectuation of the
1166	authorized purposes of the authority created under thispart
1167	chapteris, shall and will be, in all respects for the benefit
1168	of the people of the state, for the increase of their commerce
1169	and prosperity, and for the improvement of their health and
1170	living conditions, and since such authority will be performing
1171	essential governmental functions in effectuating such purposes,
1172	such authority shall not be required to pay any taxes or
1173	assessments of any kind or nature whatsoever upon any property
1174	acquired or used by it for such purposes, or upon any rates,
1175	fees, rentals, receipts, income or charges at any time received
1176	by it, and the bonds issued by the authority, their transfer and
1177	the income therefrom, (including any profits made on the sale
1178	thereof) shall at all times be free from taxation of any kind by
1179	the state, or by any political subdivision, or taxing agency or
1180	instrumentality thereof. The exemption granted by this section
1181	shall not be applicable to any tax imposed by chapter 220 on
1182	interest, income, or profits on debt obligations owned by
1183	corporations.
1184	Section 13. Section 349.14, Florida Statutes, is amended
1185	to read:
1186	349.14 Eligibility for investments and security.--Any
1187	bonds or other obligations issued pursuant to thispartchapter
1188	shall be and constitute legal investments for banks, savings
1189	banks, trustees, executors, administrators, and all other
1190	fiduciaries, and for all state, municipal and other public funds
1191	and shall also be and constitute securities eligible for deposit
1192	as security for all state, municipal or other public funds,
1193	notwithstanding the provisions of any other law or laws to the
1194	contrary.
1195	Section 14. Section 349.15, Florida Statutes, is amended
1196	to read:
1197	349.15 Pledges enforceable by bondholders.--It is the
1198	express intention of thispartchapterthat any pledge by the
1199	department of rates, fees, revenues, Duval County gasoline tax
1200	funds or other funds, as rentals, to the authority or any
1201	covenants or agreements relative thereto may be enforceable in
1202	any court of competent jurisdiction against the authority or
1203	directly against the department by any holder of bonds issued by
1204	the authority.
1205	Section 15. Section 349.17, Florida Statutes, is amended
1206	to read:
1207	349.17PartChaptercomplete and additional authority.--
1208	(1) The powers conferred by thispartchaptershall be in
1209	addition and supplemental to the existing powers of said board
1210	and the Department of Transportation, and thispartchapter
1211	shall not be construed as repealing any of the provisions of any
1212	other law, general, special or local, but to supersede such
1213	other laws in the exercise of the powers provided in thispart
1214	chapter, and to provide a complete method for the exercise of
1215	the powers granted in thispartchapter. The refunding of any of
1216	the bonds of Florida State Improvement Commission heretofore
1217	issued to finance part of the cost of said Jacksonville
1218	Expressway System, and the completion, extension and improvement
1219	of said system, and the issuance of bonds hereunder to finance
1220	all or part of the cost thereof, may be accomplished upon
1221	compliance with the provisions of thispartchapterwithout
1222	regard to or necessity for compliance with the provisions,
1223	limitations, or restrictions contained in any other general,
1224	special or local law, and no approval of any bonds issued under
1225	thispartchapterby the qualified electors or qualified
1226	electors who are freeholders in the state or in said County of
1227	Duval, or in said City of Jacksonville, or in any other
1228	political subdivision of the state, shall be required for the
1229	issuance of such bonds pursuant to thispartchapter.
1230	(2) Thispartchaptershall not be deemed to repeal,
1231	rescind or modify any other law or laws relating to said State
1232	Board of Administration, said Department of Transportation, or
1233	said Florida State Improvement Commission, but shall be deemed
1234	to and shall supersede such other law or laws in the exercise of
1235	the powers provided in thispartchapterinsofar as such other
1236	law or laws are inconsistent with the provisions of thispart
1237	chapter.
1238	Section 16. Section 349.21, Florida Statutes, is amended
1239	to read:
1240	349.21 Powers conferred by s. 212.055(1).--Notwithstanding
1241	any other provision of law, any transportation authority created
1242	by thispartchaptershall have all the powers conferred by s.
1243	212.055(1). The revenues provided by this section shall be used
1244	to pay principal and interest on bonds for which tolls have been
1245	pledged. The powers provided by this section shall expire when
1246	all such bonds in existence on the effective date of this act
1247	have been retired.
1248	Section 17.Notwithstanding the provisions of s. 338.251,
1249	Florida Statutes, there is hereby appropriated the sum of $2.5
1250	million to initially fund the Southwest Florida Transportation
1251	System. Also, notwithstanding the provisions of s. 338.251,
1252	Florida Statutes, all or a portion of this appropriation may be
1253	used for administrative and other startup costs of the authority
1254	and system including, but not limited to, the hiring of an
1255	executive director, consultants, and staff.
1256	Section 18. This act shall take effect July 1, 2003.
1257