HB 1615CS

CHAMBER ACTION



1The Committee on Transportation recommends the following:
2
3     Committee Substitute
4     Remove the entire bill and insert:
5
A bill to be entitled
6An act relating to Southwest Florida transportation;
7creating pt. X of ch. 348, F.S., consisting of ss.
8348.993, 348.9931, 348.9932, 348.9933, 348.9934, 348.9935,
9348.9936, 348.9937, 348.9938, 348.9939, 348.994, 348.9941,
10348.9942, 348.9943, 348.9944, 348.9945, and 348.9946,
11F.S., titled "Southwest Florida Expressway Authority";
12providing a popular name; providing definitions; creating
13the Southwest Florida Expressway Authority encompassing
14Collier and Lee Counties; providing for a governing body
15of the authority; providing for membership; establishing a
16process for Charlotte County to participate in the
17authority; providing purposes and powers; providing for
18the Southwest Florida Transportation System; providing for
19procurement; providing bond financing authority for
20improvements; providing for bonds of the authority;
21providing for fiscal agents; providing the State Board of
22Administration may act as fiscal agent; providing for
23certain financial agreements; providing for rights and
24remedies of bondholders; providing for lease-purchase
25agreement with the Department of Transportation; providing
26the department may be appointed agent of authority for
27construction; providing for acquisition of lands and
28property; providing for cooperation with other units,
29boards, agencies, and individuals; providing covenant of
30the state; providing for exemption from taxation;
31providing for eligibility for investments and security;
32providing pledges shall be enforceable by bondholders;
33providing for construction and application; providing for
34future expiration of the act; authorizing a loan from the
35Department of Transportation; providing a contingent
36effective date.
37
38Be It Enacted by the Legislature of the State of Florida:
39
40     Section 1.  Part X of chapter 348, Florida Statutes,
41consisting of sections 348.993, 348.9931, 348.9932, 348.9933,
42348.9934, 348.9935, 348.9936, 348.9937, 348.9938, 348.9939,
43348.994, 348.9941, 348.9942, 348.9943, 348.9944, 348.9945, and
44348.9946, is created to read:
45
Part X
46
Southwest Florida Expressway Authority
47     348.993  Popular name.--This part may be referred to by the
48popular name the "Southwest Florida Expressway Authority Law."
49     348.9931  Definitions.--The following terms, whenever used
50or referred to in this part, shall have the following meanings,
51except in those instances where the context clearly indicates
52otherwise:
53     (1)  "Agency of the state" means and includes the state and
54any department of, or corporation, agency, or instrumentality
55heretofore or hereafter created, designated, or established by,
56the state.
57     (2)  "Authority" means the body politic and corporate, and
58agency of the state, created by this part.
59     (3)  "Bonds" means and includes the notes, bonds, refunding
60bonds, or other evidences of indebtedness or obligations, in
61either temporary or definitive form, which the authority is
62authorized to issue pursuant to this part.
63     (4)  "County" means the Counties of Collier and Lee.
64     (5)  "DBOM contract" means the document and all concomitant
65rights approved by the authority providing the selected person
66or entity the exclusive right to design, build, operate, and
67maintain the Southwest Florida Transportation System.
68     (6)  "DBOMF contract" means the document and all
69concomitant rights approved by the authority providing the
70selected person or entity the exclusive right to design, build,
71operate, maintain, and finance all or a portion of the Southwest
72Florida Transportation System.
73     (7)  "Department" means the Department of Transportation
74existing under chapters 334-339.
75     (8)  "Expressway" is the same as limited access expressway.
76     (9)  "Federal agency" means and includes the United States,
77the President of the United States, or any department of, or
78corporation, agency, or instrumentality heretofore or hereafter
79created, designated, or established by, the United States.
80     (10)  "Lease-purchase agreement" means the lease-purchase
81agreements which the authority is authorized pursuant to this
82part to enter into with the Department of Transportation.
83     (11)  "Limited access expressway" means a street or highway
84especially designed for through traffic and over, from, or to
85which no person shall have the right of easement, use, or access
86except in accordance with the rules and regulations promulgated
87and established by the authority for the use of such facility.
88Such highways or streets may be parkways, from which trucks,
89buses, and other commercial vehicles shall be excluded, or they
90may be freeways open to use by all customary forms of street and
91highway traffic.
92     (12)  "Members" means the governing body of the authority,
93and the term "member" means one of the individuals constituting
94such governing body.
95     (13)  "Proposed project" means a facility which, if
96constructed, will become part of the Southwest Florida
97Transportation System, and it shall identify the general
98corridor and alignment of the facility and its limits. Further,
99it shall mean a project or projects which are in the long-range
100transportation plan of Lee County or Collier County, or both
101plans if the proposed project is to be located in both counties.
102     (14)  "Southwest Florida Transportation System" means any
103and all expressways and appurtenant facilities thereto,
104including, but not limited to, all approaches, roads, bridges,
105and avenues of access for said expressway or expressways,
106whether tolled or nontolled, or such other facility as the
107authority determines or designates.
108     (15)  "State Board of Administration" means the body
109corporate existing under the provisions of s. 9, Art. XII of the
110State Constitution, or any successor thereto.
111     (16)  "System" means the Southwest Florida Transportation
112System.
113
114Words importing singular number include the plural number in
115each case and vice versa, and words importing persons include
116firms and corporations.
117     348.9932  Southwest Florida Expressway Authority.--
118     (1)  There is hereby created and established a body politic
119and corporate, an agency of the state, encompassing Collier and
120Lee Counties, to be known as the Southwest Florida Expressway
121Authority, hereinafter referred to as the "authority."
122     (2)  The governing body of the authority shall consist of
123seven voting members and one nonvoting member, as set forth in
124this subsection.
125     (a)1.a.  One member who is a permanent resident of Collier
126County and one member who is a permanent resident of Lee County
127shall be appointed by the Governor to serve a term of 4 years
128each. The Governor shall select his appointees from a list
129submitted by the board of county commissioners of each county,
130with each list recommending five candidates from their
131respective county.
132     b.  One member who is a permanent resident of Collier
133County shall be appointed by the Board of County Commissioners
134of Collier County and one member who is a permanent resident of
135Lee County shall be appointed by the Board of County
136Commissioners of Lee County, to serve a term of 4 years each.
137     2.  Each member appointed under this paragraph shall be a
138person of outstanding reputation for integrity, responsibility,
139and business ability and shall have an interest in ground
140transportation. No elected official and no person who is an
141employee, in any capacity, of Collier County or Lee County or of
142any city within Collier County or Lee County shall be an
143appointed member of the authority except as set forth in this
144section.
145     3.  Each appointed member shall be a resident of his or her
146respective county during his or her entire term.
147     4.  Each appointed member shall be a voting member and
148shall hold office until his or her successor has been appointed
149and has qualified. A vacancy occurring during a term shall be
150filled only for the remainder of the unexpired term.
151     (b)  One member from Collier County and one member from Lee
152County shall be selected by the members of the respective county
153commission from among its members to serve as a voting member
154for a term of 2 years each. Each commissioner must be a member
155of the county commission when selected and for the full extent
156of the term of this selection.
157     (c)  The executive director of the Southwest Florida
158Regional Planning Council shall serve as the seventh voting
159member.
160     (d)  The district secretary of the Department of
161Transportation serving in the district that contains Collier
162County and Lee County shall serve as a nonvoting member.
163     (e)  Any member of the authority shall be eligible for
164reappointment.
165     (3)(a)  The authority shall elect one of its members as
166chair of the authority. The authority shall also elect a
167secretary and a treasurer who may or may not be members of the
168authority. The chair, secretary, and treasurer shall hold such
169offices at the will of the authority. Four members of the
170authority shall constitute a quorum, and a vote of the majority
171of those present shall be necessary for any action taken by the
172authority. No vacancy in the authority shall impair the right of
173a quorum of the authority to exercise all of the rights and
174perform all of the duties of the authority.
175     (b)  Upon the effective date of his or her appointment, or
176as soon thereafter as practicable, each appointed member of the
177authority shall enter upon his or her duties.
178     (4)  If an expansion of the project into Charlotte County
179is warranted and desirable as indicated by the adoption of
180resolutions in support of the expansion by the authority and by
181each Board of County Commissioners of Charlotte, Collier, and
182Lee Counties, the membership of the authority shall be expanded
183as set forth in this subsection. The authority shall have nine
184voting members and two nonvoting members. The executive director
185of the Southwest Florida Regional Planning Council will shift
186from a voting member to a nonvoting member. Three members from
187Charlotte County shall be added to the authority and each shall
188be a voting member. The Charlotte County members shall be
189selected in the same manner as provided for the appointment of
190the members from Collier and Lee Counties.
191     (5)(a)  The authority may employ an executive director, its
192own counsel and legal staff, technical experts, engineers, and
193such employees, permanent or temporary, as it may require; may
194determine the qualifications and fix the compensation of such
195persons, firms, or corporations; and may employ a fiscal agent
196or agents. The authority may delegate to one or more of its
197agents or employees such of its power as it shall deem necessary
198to carry out the purposes of this part, subject always to the
199supervision and control of the authority. Members of the
200authority may be removed from office by the Governor for
201misconduct, malfeasance, misfeasance, or nonfeasance in office.
202     (b)  Members of the authority shall be entitled to receive
203from the authority their travel and other necessary expenses
204incurred in connection with the business of the authority as
205provided in s. 112.061, but they shall draw no salaries or other
206compensation.
207     348.9933  Purposes and powers.--
208     (1)(a)  The authority created and established by the
209provisions of this part is hereby granted and shall have the
210right to acquire, hold, construct, improve, maintain, operate,
211own, and lease, in the capacity of lessor, the Southwest Florida
212Transportation System, hereinafter referred to as the "system."
213     (b)  It is the express intention of this part that said
214authority, in the construction of said Southwest Florida
215Transportation System, within the geographic boundaries of
216Collier and Lee Counties, is limited to the pursuit of tolled
217expressway lanes on Interstate Highway 75 within these counties.
218Further, the authority shall be authorized to construct any
219extensions, additions, or improvements to said system or
220appurtenant facilities, including all necessary approaches,
221roads, bridges, and avenues of access, with such changes,
222modifications, or revisions of said project as shall be deemed
223desirable and proper with the concurrence of the respective
224county commissions. The responsibilities of the authority will
225not be expanded to cover any other projects beyond Interstate 75
226toll lanes and appurtenant facilities unless resolutions in
227support of such expansion or other project are adopted by the
228Boards of County Commissioners of Lee and Collier Counties.
229     (2)  The authority is hereby granted and shall have and may
230exercise all powers necessary, appurtenant, convenient, or
231incidental to the carrying out of the aforesaid purposes,
232including, but not limited to, the following rights and powers:
233     (a)  To sue and be sued, implead and be impleaded,
234complain, and defend in all courts.
235     (b)  To adopt, use, and alter at will a corporate seal.
236     (c)  To acquire by donation or otherwise, purchase, hold,
237lease as lessee, and use any franchise or property, real,
238personal, or mixed, tangible or intangible, or any options
239thereof in its own name or in conjunction with others, or
240interest therein, necessary or desirable for carrying out the
241purposes of the authority, and to sell, lease as lessor,
242transfer, and dispose of any property or interest therein at any
243time acquired by it.
244     (d)  To enter into and make leases for terms it deems
245necessary, as either lessee or lessor, in order to carry out the
246right to lease as set forth in this part.
247     (e)  To enter into and make lease-purchase agreements with
248the department for terms it deems necessary or until any bonds
249secured by a pledge of rentals thereunder, and any refundings
250thereof, are fully paid as to both principal and interest,
251whichever is longer.
252     (f)  To fix, alter, charge, establish, and collect rates,
253fees, rentals, and other charges for the services and facilities
254of the Southwest Florida Transportation System, which rates,
255fees, rentals, and other charges shall always be sufficient to
256comply with any covenants made with the holders of any bonds
257issued pursuant to this part; provided, however, that such right
258and power may be assigned or delegated, by the authority, to the
259department.
260     (g)  To borrow money and make and issue negotiable notes,
261bonds, refunding bonds, and other evidences of indebtedness or
262obligations, either in temporary or definitive form, hereinafter
263in this part sometimes called "bonds" of the authority, for the
264purpose of financing all or part of the improvement or extension
265of the Southwest Florida Transportation System and appurtenant
266facilities, including all approaches, streets, roads, bridges,
267and avenues of access for said Southwest Florida Transportation
268System, and for any other purpose authorized by this part; to
269secure the payment of such bonds or any part thereof by a pledge
270of any or all of its revenues, rates, fees, rentals, or other
271charges; and in general to provide for the security of said
272bonds and the rights and remedies of the holders thereof. The
273authority may enter into an agreement between the authority and
274one or more counties for the pledge of county gasoline tax
275funds, county sales tax, or other county revenues to secure any
276bonds issued for an authority project as authorized hereunder.
277In the event the authority shall determine to fund or refund any
278bonds theretofore issued by said authority, prior to the
279maturity thereof, the proceeds of such funding or refunding
280bonds shall, pending the prior redemption of the bonds to be
281funded or refunded, be invested in direct obligations of the
282United States, and it is the express intention of this part that
283such outstanding bonds may be funded or refunded by the issuance
284of bonds pursuant to this part.
285     (h)  To make contracts of every name and nature, including,
286but not limited to, partnerships providing for participation in
287ownership and revenues, and to execute all instruments necessary
288or convenient for the carrying on of its business.
289     (i)  Without limitation of the foregoing, to borrow money
290and accept grants from, and to enter into contracts, leases, or
291other transactions with, any federal agency, the state, any
292agency of the state, Collier County, Lee County, and any city
293within these two counties or with any other public body of the
294state.
295     (j)  To have the power of eminent domain, including the
296procedural powers granted under chapters 73 and 74.
297     (k)  To pledge, hypothecate, or otherwise encumber all or
298any part of the revenues, rates, fees, rentals, or other charges
299or receipts of the authority as security for all or any of the
300obligations of the authority.
301     (l)  To do all acts and things necessary or convenient for
302the conduct of its business and the general welfare of the
303authority in order to carry out the powers granted to it by this
304part or any other law.
305     (m)  With the consent of the county within whose
306jurisdiction the following activities occur, to construct,
307operate, and maintain roads, bridges, avenues of access,
308thoroughfares, and boulevards outside the jurisdictional
309boundaries of Collier and Lee Counties, together with the right
310to construct, repair, replace, operate, install, and maintain
311toll payment systems thereon, with all necessary and incidental
312powers to accomplish the foregoing.
313     (3)  The authority shall have no power at any time or in
314any manner to pledge the credit or taxing power of the state or
315any political subdivision or agency thereof, including Collier
316and Lee Counties or any city within these counties, nor shall
317any of the authority's obligations be deemed to be obligations
318of the state or of any political subdivision or agency thereof,
319nor shall the state or any political subdivision or agency
320thereof, except the authority, be liable for the payment of the
321principal of or interest on such obligations unless agreed to by
322such entity.
323     348.9934  Procurement.--The authority is authorized to
324procure commodities and the services of a qualified person or
325entity to design, build, finance, operate, maintain, and
326implement the Southwest Florida Transportation System, including
327the use of a DBOM or DBOMF method using a request for proposal,
328a request for qualifications, or an invitation to negotiate.
329     348.9935  Bond financing authority for
330improvements.--Pursuant to s. 11(f), Art. VII of the State
331Pursuant to s. 11(f), Art. VII of the State Constitution, the
332Legislature hereby approves for bond financing by the Southwest
333Florida Expressway Authority improvements to toll collection
334facilities, interchanges to the legislatively approved regional
335transportation system, and any other facility appurtenant,
336necessary, or incidental to the approved system. Subject to
337terms and conditions of applicable revenue bond resolutions and
338covenants, such costs may be financed in whole or in part by
339revenue bonds issued pursuant to s. 348.9936(1)(a) or (b)
340whether currently issued or issued in the future, or by a
341combination of such bonds.
342     348.9936  Bonds of the authority.--
343     (1)(a)  Bonds may be issued on behalf of the authority
344pursuant to the State Bond Act.
345     (b)  Alternatively, the authority may issue its own bonds
346pursuant to this part at such times and in such principal amount
347as, in the opinion of the authority, is necessary to provide
348sufficient moneys for achieving its purposes; however, such
349bonds may not pledge the full faith and credit of the state.
350Bonds issued by the authority pursuant to this paragraph or
351paragraph (a), whether on original issuance or on refunding,
352shall be authorized by resolution of the members thereof and may
353be either term or serial bonds and shall bear such date or
354dates, mature at such time or times, bear interest at such rate
355or rates, payable semiannually, be in such denominations, be in
356such form, either coupon or fully registered, carry such
357registration, exchangeability, and interchangeability
358privileges, be payable in such medium of payment and at such
359place or places, be subject to such terms of redemption, and be
360entitled to such priorities on the revenues, rates, fees,
361rentals, or other charges or receipts of the authority,
362including any other funds received by the authority pursuant to
363the terms of any lease-purchase agreement between the authority
364and the department, as such resolution or any resolution
365subsequent thereto may provide. The bonds shall be executed
366either by manual or facsimile signature by such officers as the
367authority shall determine, provided that such bonds shall bear
368at least one signature which is manually executed thereon, and
369the coupons attached to such bonds shall bear the facsimile
370signature or signatures of such officer or officers as shall be
371designated by the authority and shall have the seal of the
372authority affixed, imprinted, reproduced, or lithographed
373thereon, all as may be prescribed in such resolution or
374resolutions.
375     (c)  Bonds issued pursuant to paragraph (a) or paragraph
376(b) shall be sold at public sale in the same manner provided by
377the State Bond Act. However, if the authority shall, by official
378action at a public meeting, determine that a negotiated sale of
379such bonds is in the best interest of the authority, the
380authority may negotiate the sale of such bonds with the
381underwriter or underwriters designated by the authority and the
382Division of Bond Finance of the State Board of Administration
383with respect to bonds issued pursuant to paragraph (a) or solely
384the authority with respect to bonds issued pursuant to paragraph
385(b). The authority's determination to negotiate the sale of such
386bonds may be based, in part, upon the written advice of the
387authority's financial adviser. Pending the preparation of
388definitive bonds, interim certificates may be issued to the
389purchaser or purchasers of such bonds and may contain such terms
390and conditions as the authority may determine.
391     (d)  The authority may issue bonds pursuant to paragraph
392(b) to refund any bonds previously issued regardless of whether
393the bonds being refunded were issued by the authority pursuant
394to this part or on behalf of the authority pursuant to the State
395Bond Act.
396     (2)  Any such resolution or resolutions authorizing any
397bonds hereunder may contain provisions which shall be part of
398the contract with the holders of such bonds, as to:
399     (a)  The pledging of all or any part of the revenues,
400rates, fees, rentals, or other charges or receipts of the
401authority, derived by the authority, from the Southwest Florida
402Transportation System.
403     (b)  The completion, improvement, operation, extension,
404maintenance, repair, lease, or lease-purchase agreement of said
405system and the duties of the authority and others, including the
406department, with reference thereto.
407     (c)  Limitations on the purposes to which the proceeds of
408the bonds, then or thereafter to be issued, or of any loan or
409grant by the United States or the state may be applied.
410     (d)  The fixing, charging, establishing, and collecting of
411rates, fees, rentals, or other charges for use of the services
412and facilities of the Southwest Florida Transportation System or
413any part thereof.
414     (e)  The setting aside of reserves or sinking funds or
415repair and replacement funds and the regulation and disposition
416thereof.
417     (f)  Limitations on the issuance of additional bonds.
418     (g)  The terms and provisions of any lease-purchase
419agreement, deed of trust, or indenture securing the bonds or
420under which the same may be issued.
421     (h)  Any other or additional agreements with the holders of
422the bonds which the authority may deem desirable and proper.
423     (3)  The authority may employ fiscal agents as provided by
424this part, or the State Board of Administration may, upon
425request of the authority, act as fiscal agent for the authority
426in the issuance of any bonds which may be issued pursuant to
427this part, and the State Board of Administration may, upon
428request of the authority, take over the management, control,
429administration, custody, and payment of any or all debt services
430or funds or assets now or hereafter available for any bonds
431issued pursuant to this part. The authority may enter into any
432deeds of trust, indentures, or other agreements with its fiscal
433agent, or with any bank or trust company within or without the
434state, as security for such bonds and may, under such
435agreements, sign and pledge all or any of the revenues, rates,
436fees, rentals, or other charges or receipts of the authority.
437Such deed of trust, indenture, or other agreement may contain
438such provisions as are customary in such instruments or, as the
439authority may authorize, including, but without limitation,
440provisions as to:
441     (a)  The completion, improvement, operation, extension,
442maintenance, repair, and lease of, or lease-purchase agreement
443relating to, the Southwest Florida Transportation System and the
444duties of the authority and others, including the department,
445with reference thereto.
446     (b)  The application of funds and the safeguarding of funds
447on hand or on deposit.
448     (c)  The rights and remedies of the trustee and the holders
449of the bonds.
450     (d)  The terms and provisions of the bonds or the
451resolutions authorizing the issuance of same.
452     (4)  Any of the bonds issued pursuant to this part are, and
453are hereby declared to be, negotiable instruments and shall have
454all the qualities and incidents of negotiable instruments under
455the law merchant and the negotiable instruments law of the
456state.
457     (5)  Notwithstanding any of the provisions of this part,
458each project, building, or facility which has been financed by
459the issuance of bonds or other evidence of indebtedness under
460this part and any refinancing thereof is hereby approved as
461provided for in s. 11(f), Art. VII of the State Constitution.
462     348.9937  Remedies of the bondholders.--
463     (1)  The rights and the remedies herein conferred upon or
464granted to the bondholders shall be in addition to and not in
465limitation of any rights and remedies lawfully granted to such
466bondholders by the resolution or resolutions providing for the
467issuance of bonds, or by a lease-purchase agreement, deed of
468trust, indenture, or other agreement under which the bonds may
469be issued or secured. In the event that the authority shall
470default in the payment of the principal of or interest on any of
471the bonds issued pursuant to the provisions of this part after
472such principal of or interest on said bonds shall have become
473due, whether at maturity or upon call for redemption, or the
474department shall default in any payments under, or covenants
475made in, any lease-purchase agreement between the authority and
476the department, and such default shall continue for a period of
47730 days, or in the event that the authority or the department
478shall fail or refuse to comply with the provisions of this part
479or any agreement made with, or for the benefit of, the holders
480of the bonds, the holders of 25 percent in aggregate principal
481amount of the bonds then outstanding shall be entitled as of
482right to the appointment of a trustee to represent such
483bondholders for the purposes hereof; provided, however, that
484such holders of 25 percent in aggregate principal amount of the
485bonds then outstanding shall have first given notice of their
486intention to appoint a trustee, to the authority and to the
487department. Such notice shall be deemed to have been given if
488given in writing, deposited in a securely sealed postpaid
489wrapper, mailed at a regularly maintained United States post
490office box or station, and addressed, respectively, to the chair
491of the authority and to the secretary of the Department of
492Transportation at the principal office of the department.
493     (2)  Such trustee, and any trustee under any deed of trust,
494indenture, or other agreement, may, and upon written request of
495the holders of 25 percent, or such other percentages as may be
496specified in any deed of trust, indenture, or other agreement
497aforesaid, in principal amount of the bonds then outstanding,
498shall, in any court of competent jurisdiction, in his, her, or
499its own name:
500     (a)  By mandamus or other suit, action, or proceeding at
501law or in equity, enforce all rights of the bondholders,
502including the right to require the authority to fix, establish,
503maintain, collect, and charge rates, fees, rentals, and other
504charges, adequate to carry out any agreement as to, or pledge
505of, the revenues or receipts of the authority to carry out any
506other covenants and agreements with or for the benefit of the
507bondholders, and to perform its and their duties under this
508part.
509     (b)  By mandamus or other suit, action, or proceeding at
510law or in equity, enforce all rights of the bondholders under or
511pursuant to any lease-purchase agreement between the authority
512and the department, including the right to require the
513department to make all rental payments required to be made by it
514under the provisions of any such lease-purchase agreement, and
515to require the department to carry out any other covenants and
516agreements with or for the benefit of the bondholders, and to
517perform its and their duties under this part.
518     (c)  Bring suit upon the bonds.
519     (d)  By action or suit in equity, require the authority or
520the department to account as if it were the trustee of an
521express trust for the bondholders.
522     (e)  By action or suit in equity, enjoin any acts or things
523which may be unlawful or in violation of the rights of the
524bondholders.
525     (3)  Any trustee, when appointed as aforesaid or acting
526under a deed of trust, indenture, or other agreement, and
527whether or not all bonds have been declared due and payable,
528shall be entitled as of right to the appointment of a receiver,
529who may enter upon and take possession of the Southwest Florida
530Transportation System or the facilities or any part or parts
531thereof, the rates, fees, rentals, or other revenues, charges,
532or receipts from which are, or may be, applicable to the payment
533of the bonds so in default, and subject to and in compliance
534with the provisions of any lease-purchase agreement between the
535authority and the department operate and maintain the same, for
536and on behalf of and in the name of, the authority, the
537department, and the bondholders, and collect and receive all
538rates, fees, rentals, and other charges or receipts or revenues
539arising therefrom in the same manner as the authority or the
540department might do, and shall deposit all such moneys in a
541separate account and apply the same in such manner as the court
542shall direct. In any suit, action, or proceeding by the trustee,
543the fees, counsel fees, and expenses of the trustee, and said
544receiver, if any, and all costs and disbursements allowed by the
545court shall be a first charge on any rates, fees, rentals, or
546other charges, revenues, or receipts derived from the Southwest
547Florida Transportation System, or the facilities or services or
548any part or parts thereof, including payments under any such
549lease-purchase agreement as aforesaid which said rates, fees,
550rentals, or other charges, revenues, or receipts shall or may be
551applicable to the payment of the bonds so in default. Such
552trustee shall, in addition to the foregoing, have and possess
553all of the powers necessary or appropriate for the exercise of
554any functions specifically set forth herein or incident to the
555representation of the bondholders in the enforcement and
556protection of their rights.
557     (4)  Nothing in this section or any other section of this
558part shall authorize any receiver appointed pursuant hereto for
559the purpose, subject to and in compliance with the provisions of
560any lease-purchase agreement between the authority and the
561department, of operating and maintaining the Southwest Florida
562Transportation System or any facilities or part or parts thereof
563to sell, assign, mortgage, or otherwise dispose of any of the
564assets of whatever kind and character belonging to the
565authority. It is the intention of this part to limit the powers
566of such receiver, subject to and in compliance with the
567provisions of any lease-purchase agreement between the authority
568and the department, to the operation and maintenance of the
569Southwest Florida Transportation System, or any facility or part
570or parts thereof, as the court may direct, in the name and for
571and on behalf of the authority, the department, and the
572bondholders, and no holder of bonds on the authority nor any
573trustee shall ever have the right in any suit, action, or
574proceeding at law or in equity to compel a receiver, nor shall
575any receiver be authorized or any court be empowered to direct
576the receiver to sell, assign, mortgage, or otherwise dispose of
577any assets of whatever kind or character belonging to the
578authority.
579     348.9938  Lease-purchase agreement.--
580     (1)  In order to effectuate the purposes of this part and
581as authorized by this part, the authority may enter into a
582lease-purchase agreement with the department relating to and
583covering the Southwest Florida Transportation System.
584     (2)  Such lease-purchase agreement shall provide for the
585leasing of the Southwest Florida Transportation System by the
586authority, as lessor, to the department, as lessee; shall
587prescribe the term of such lease and the rentals to be paid
588thereunder; and shall provide that upon the completion of the
589faithful performance thereunder and the termination of such
590lease-purchase agreement, title in fee simple absolute to the
591Southwest Florida Transportation System as then constituted
592shall be transferred in accordance with law by the authority to
593the state and the authority shall deliver to the department such
594deeds and conveyances as shall be necessary or convenient to
595vest title in fee simple absolute in the state.
596     (3)  Such lease-purchase agreement may include such other
597provisions, agreements, and covenants as the authority and the
598department deem advisable or required, including, but not
599limited to, provisions as to the bonds to be issued under, and
600for the purposes of, this part; the completion, extension,
601improvement, operation, and maintenance of the Southwest Florida
602Transportation System and the expenses and the cost of operation
603of said authority; the charging and collection of tolls, rates,
604fees, and other charges for the use of the services and
605facilities thereof; the application of federal or state grants
606or aid which may be made or given to assist the authority in the
607completion, extension, improvement, operation, and maintenance
608of the Southwest Florida Transportation System, which the
609authority is hereby authorized to accept and apply to such
610purposes; the enforcement of payment and collection of rentals;
611and any other terms, provisions, or covenants necessary,
612incidental, or appurtenant to the making of and full performance
613under such lease-purchase agreement.
614     (4)  The department, as lessee under such lease-purchase
615agreement, is hereby authorized to pay as rentals thereunder any
616rates, fees, charges, funds, moneys, receipts, or income
617accruing to the department from the operation of the Southwest
618Florida Transportation System and may also pay as rentals any
619appropriations received by the department pursuant to any act of
620the Legislature of the state heretofore or hereafter enacted;
621provided, however, that nothing herein nor in such lease-
622purchase agreement is intended to nor shall this part or such
623lease-purchase agreement require the making or continuance of
624such appropriations, nor shall any holder of bonds issued
625pursuant to this part ever have any right to compel the making
626or continuance of such appropriations.
627     (5)  Said department shall have power to covenant in any
628lease-purchase agreement that it will pay all or any part of the
629cost of the operation, maintenance, repair, renewal, and
630replacement of said system, and any part of the cost of
631completing said system to the extent that the proceeds of bonds
632issued therefor are insufficient, from sources other than the
633revenues derived from the operation of said system. Said
634department may also agree to make such other payments from any
635moneys available to said commission, said county, or said city
636in connection with the construction or completion of said system
637as shall be deemed by said department to be fair and proper
638under any such covenants heretofore or hereafter entered into.
639     (6)  Said system shall be a part of the state road system
640and said department is hereby authorized, upon the request of
641the authority, to expend out of any funds available for the
642purpose such moneys, and to use such of its engineering and
643other forces, as may be necessary and desirable in the judgment
644of said department, for the operation of said authority and for
645traffic surveys, borings, surveys, preparation of plans and
646specifications, estimates of cost and other preliminary
647engineering, and other studies.
648     348.9939  Department may be appointed agent of authority
649for construction.--The department may be appointed by said
650authority as its agent for the purpose of constructing
651improvements and extensions to the Southwest Florida
652Transportation System and for the completion thereof. In such
653event, the authority shall provide the department with complete
654copies of all documents, agreements, resolutions, contracts, and
655instruments relating thereto and shall request the department to
656do such construction work including the planning, surveying, and
657actual construction of the completion, extensions, and
658improvements to the Southwest Florida Transportation System and
659shall transfer to the credit of an account of the department in
660the treasury of the state the necessary funds therefor, and the
661department shall thereupon be authorized, empowered, and
662directed to proceed with such construction and to use the said
663funds for such purpose in the same manner that it is now
664authorized to use the funds otherwise provided by law for its
665use in construction of roads and bridges.
666     348.994  Acquisition of lands and property.--
667     (1)  For the purposes of this part, the Southwest Florida
668Expressway Authority may acquire private or public property and
669property rights, including rights of access, air, view, and
670light, by gift, devise, purchase, or condemnation by eminent
671domain proceedings, as the authority may deem necessary for any
672of the purposes of this part, including, but not limited to, any
673lands reasonably necessary for securing applicable permits,
674areas necessary for management of access, borrow pits, drainage
675ditches, water retention areas, rest areas, replacement access
676for landowners whose access is impaired due to the construction
677of a facility, and replacement rights-of-way for relocated rail
678and utility facilities; for existing, proposed, or anticipated
679transportation facilities on the Southwest Florida
680Transportation System or in a transportation corridor designated
681by the authority. The authority shall also have the power to
682condemn any material and property necessary for such purposes.
683     (2)  The right of eminent domain herein conferred shall be
684exercised by the authority in the manner provided by law.
685     (3)  When the authority acquires property for a
686transportation facility or in a transportation corridor, it is
687not subject to any liability imposed by chapter 376 or chapter
688403 for preexisting soil or groundwater contamination due solely
689to its ownership. This section does not affect the rights or
690liabilities of any past or future owners of the acquired
691property, nor does it affect the liability of any governmental
692entity for the results of its actions which create or exacerbate
693a pollution source. The authority and the Department of
694Environmental Protection may enter into interagency agreements
695for the performance, funding, and reimbursement of the
696investigative and remedial acts necessary for property acquired
697by the authority.
698     348.9941  Cooperation with other units, boards, agencies,
699and individuals.--Express authority and power is hereby given
700and granted any county, municipality, drainage district, road
701and bridge district, school district, or any other political
702subdivision, board, commission, or individual in, or of, the
703state to make and enter into with the authority contracts,
704leases, conveyances, partnerships, or other agreements within
705the provisions and purposes of this part. The authority is
706hereby expressly authorized to make and enter into contracts,
707leases, conveyances, partnerships, and other agreements with any
708political subdivision, agency, or instrumentality of the state
709and any and all federal agencies, corporations, and individuals
710for the purpose of carrying out the provisions of this part.
711     348.9942  Covenant of the state.--The state does hereby
712pledge to and agrees with any person, firm, corporation, or
713federal or state agency subscribing to or acquiring the bonds to
714be issued by the authority for the purposes of this part that
715the state will not limit or alter the rights hereby vested in
716the authority and the department until all bonds at any time
717issued, together with the interest thereon, are fully paid and
718discharged insofar as the same affects the rights of the holders
719of bonds issued hereunder. The state does further pledge to and
720agree with the United States that in the event any federal
721agency shall construct or contribute any funds for the
722completion, extension, or improvement of the Southwest Florida
723Transportation System, or any part or portion thereof, the state
724will not alter or limit the rights and powers of the authority
725and the department in any manner which would be inconsistent
726with the continued maintenance and operation of the Southwest
727Florida Transportation System or the completion, extension, or
728improvement thereof or which would be inconsistent with the due
729performance of any agreements between the authority and any such
730federal agency, and the authority and the department shall
731continue to have and may exercise all powers herein granted, so
732long as the same shall be necessary or desirable for the
733carrying out of the purposes of this part and the purposes of
734the United States in the completion, extension, or improvement
735of the Southwest Florida Transportation System or any part or
736portion thereof.
737     348.9943  Exemption from taxation.--The effectuation of the
738authorized purposes of the authority created under this part is,
739shall, and will be in all respects for the benefit of the people
740of the state, for the increase of their commerce and prosperity,
741and for the improvement of their health and living conditions,
742and since such authority will be performing essential
743governmental functions in effectuating such purposes, such
744authority shall not be required to pay any taxes or assessments
745of any kind or nature whatsoever upon any property acquired or
746used by it for such purposes, or upon any rates, fees, rentals,
747receipts, income, or charges at any time received by it, and the
748bonds issued by the authority, their transfer, and the income
749therefrom, including any profits made on the sale thereof, shall
750at all times be free from taxation of any kind by the state, or
751by any political subdivision, taxing agency, or instrumentality
752thereof. The exemption granted by this section shall not be
753applicable to any tax imposed by chapter 220 on interest,
754income, or profits on debt obligations owned by corporations.
755     348.9944  Eligibility for investments and security.--Any
756bonds or other obligations issued pursuant to this part shall be
757and constitute legal investments for banks, savings banks,
758trustees, executors, administrators, and all other fiduciaries
759and for all state, municipal, and other public funds and shall
760also be and constitute securities eligible for deposit as
761security for all state, municipal, or other public funds,
762notwithstanding the provisions of any other law or laws to the
763contrary.
764     348.9945  Pledges enforceable by bondholders.--It is the
765express intention of this part that any pledge by the department
766of rates, fees, revenues, or other funds, as rentals, to the
767authority, or any covenants or agreements relative thereto, may
768be enforceable in any court of competent jurisdiction against
769the authority or directly against the department by any holder
770of bonds issued by the authority.
771     348.9946  This part complete and additional authority.--
772     (1)  The powers conferred by this part shall be in addition
773and supplemental to the existing powers of said authority and
774the department, and this part shall not be construed as
775repealing any of the provisions of any other law, general,
776special, or local, but to supersede such other laws in the
777exercise of the powers provided in this part and to provide a
778complete method for the exercise of the powers granted in this
779part. The extension and improvement of said Southwest Florida
780Transportation System, and the issuance of bonds hereunder to
781finance all or part of the cost thereof, may be accomplished
782upon compliance with the provisions of this part without regard
783to or necessity for compliance with the provisions, limitations,
784or restrictions contained in any other general, special, or
785local law, including, but not limited to, s. 215.821, and no
786approval of any bonds issued under this part by the qualified
787electors or qualified electors who are freeholders in the state
788or in said Collier County or Lee County, or in any city within
789these two counties, or in any other political subdivision of the
790state, shall be required for the issuance of such bonds pursuant
791to this part.
792     (2)  This part shall not be deemed to repeal, rescind, or
793modify any other law or laws relating to said State Board of
794Administration, said Department of Transportation, or the
795Division of Bond Finance of the State Board of Administration
796but shall be deemed to and shall supersede such other law or
797laws as are inconsistent with the provisions of this part,
798including, but not limited to, s. 215.821.
799     Section 2.  Sunset of the Southwest Florida Expressway
800Authority's duties and powers.--The powers conferred to the
801Southwest Florida Expressway Authority and part X of chapter
802348, Florida Statutes, the statutory establishment of the
803Southwest Florida Expressway Authority, shall expire 12 years
804after this act takes effect if the Southwest Florida Expressway
805Authority has no outstanding indebtedness, no studies underway,
806no design underway, and no projects under construction and is
807not operating or maintaining any part of the system it was
808established to create.
809     Section 3.  Notwithstanding the provisions of s. 338.251,
810Florida Statutes, the Department of Transportation is authorized
811to loan the Southwest Florida Expressway Authority in fiscal
812year 2004-2005 the sum of $2.5 million to initially fund the
813Southwest Florida Transportation System. Notwithstanding the
814provisions of s. 338.251, Florida Statutes, all or a portion of
815this loan may be used for administrative and other startup costs
816of the Southwest Florida Expressway Authority and the system
817including, but not limited to, the hiring of an executive
818director, consultants, and staff.
819     Section 4.  This act shall take effect upon resolutions in
820support of this act being passed by both the Lee County Board of
821County Commissioners and the Collier County Board of County
822Commissioners, but no sooner than July 1, 2004, in the event the
823boards pass such resolutions prior to that date; except that,
824this section shall take effect upon this act becoming a law.


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