HB 0625

1	A bill to be entitled
2	An act relating to the Charlotte County Airport Authority;
3	amending chapter 98-508, Laws of Florida; revising and
4	providing definitions; providing for compensation and
5	travel expenses; providing for meetings of the authority;
6	revising powers of the authority; providing for the
7	authority to borrow money, incur debt, and issue bonds;
8	providing for terms of bonds; providing for fixing and
9	collecting rent; providing methods for expending funds;
10	providing an effective date.
11
12	Be It Enacted by the Legislature of the State of Florida:
13
14	Section 1.  Section 2 of section 2 of chapter 98-508, Laws
15	of Florida, is amended to read:
16	Section 2.  Definitions.--As used in this act, the
17	following words and terms shall have the following meanings,
18	unless the context shall indicate another or different meaning
19	or intent otherwise requires:
20	(1)  Authority means the authority created by this act or,
21	if such authority shall be abolished, the board, body, or
22	commission succeeding to the principal functions thereof or to
23	whom the powers given by this act to the authority shall be
24	given by law Commission means the Charlotte County Airport
25	Authority created by this act.
26	(2)  Area means the territorial limits within which the
27	airport authority shall operate, the boundaries of which shall
28	be coextensive with Charlotte County.
29	(3)  Project means and includes the acquisition of lands or
30	any interest therein or improvements thereon, personal property
31	of any nature or description, intangible personal property, or
32	buildings, structures, or other improvements or facilities or
33	any portion thereof or any interest therein, for the
34	development, expansion, and promotion of the Charlotte County
35	Airport and Commerce Park and the construction or acquisition of
36	buildings, plants, industrial parks, or areas and any and all
37	facilities relating to the development of industry, commerce,
38	recreation, agriculture, or the natural resources of the
39	Charlotte County Airport Authority for the purpose of selling,
40	leasing, or renting such buildings, parks, areas, or facilities
41	owned by the Charlotte County Airport Authority to public or
42	private corporations, persons, or firms.
43	(4)  Cost of project embraces the cost of construction, the
44	cost of all lands, properties, easements, rights, and franchises
45	acquired, the cost of machinery and equipment, financing
46	charges, interest prior to and during construction, cost of
47	engineering, architectural, and legal expense, and plans and
48	specifications and other expenses necessary or incident to
49	determining the feasibility or practicability of the project,
50	administrative expenses, and such other expenses as may be
51	necessary or incident to the financing herein authorized for the
52	construction of any project and placing the same in operation.
53	(5)  Airport facilities means airport facilities of all
54	kinds, including, but not limited to, landing fields; runways;
55	taxiways; hangars; shops; restaurants and catering facilities;
56	terminals; buildings; parking facilities and all other
57	facilities necessary or desirable for the landing, taking off,
58	operating, servicing, repairing, and parking of aircraft; fuel
59	farms; self-service fueling areas; facilities necessary for the
60	unloading and handling of passengers, mail, express, and
61	freight; and facilities for the accommodation, convenience, and
62	comfort of passengers and pilots, together with related
63	transportation facilities; and all necessary appurtenances,
64	machinery, and equipment, and all lands, properties, rights,
65	easements, and franchises relating thereto and considered
66	necessary or convenient by the authority in connection
67	therewith.
68	Section 2.  Section 8 of section 2 of chapter 98-508, Laws
69	of Florida, is amended to read:
70	Section 8.  Compensation; travel expenses.--The maximum
71	amount of compensation which may be paid to a member of the
72	authority annually is $7,500. The members of the authority by
73	majority vote shall set their annual salary, which may be no
74	more than the maximum set forth above. In addition, the
75	authority shall set by resolution per diem for expenses incurred
76	by authority members and staff to be reimbursed pursuant to
77	section 166.021(10), Florida Statutes, or in accordance with
78	section 112.061(14), Florida Statutes The members of the
79	authority shall receive $2,000 annual salary for their services
80	as members of the authority to be paid in equal monthly
81	payments. In addition, the authority shall have authority to pay
82	costs and expenses incurred by the members of the authority in
83	accordance with s. 112.061, Florida Statues, in the performance
84	of their duties as members.
85	Section 3.  Section 9 of section 2 of chapter 98-508, Laws
86	of Florida, is amended to read:
87	Section 9.  Quorum; transaction of business.--A majority of
88	the membership shall constitute a quorum for all purposes, and
89	no vacancy in the authority shall impair the right of a quorum
90	of the authority to exercise all of the rights and perform all
91	of the duties of the authority. The authority may meet at such
92	times and places designated by it but shall hold regular
93	meetings at least once each month unless canceled by emergency
94	or majority vote. Emergency Special meetings may be called upon
95	the call of the chair or any three members of the authority.
96	Section 4.  Section 10 of section 2 of chapter 98-508, Laws
97	of Florida, is amended to read:
98	Section 10.  Powers.--The authority shall have these
99	specific powers, in addition to other powers otherwise
100	conferred:
101	(1)  To sue and be sued, implead and be impleaded,
102	complain, and defend in all courts.
103	(2)  To adopt, use, and alter at will, a corporate seal.
104	(3)  To select and appoint agents and employees, including
105	engineers, architects, builders, and attorneys, and to fix their
106	compensation.
107	(4)  To borrow money, incur debt, and issue bonds, notes
108	(including bond anticipation notes), certificates, or any other
109	instruments of indebtedness for any lawful purpose that
110	promotes, enhances, or otherwise furthers the purposes of the
111	authority, including, but not limited to, financing the cost of
112	any project, capitalizing interest, funding any reserves,
113	refunding or refinancing any existing indebtedness, and paying
114	costs and expenses associated with such indebtedness. Any such
115	indebtedness may be secured by any revenue source or in any
116	manner as is allowable under applicable law. No general
117	obligation bonds may be issued by the authority unless the
118	Florida Constitution and all other applicable laws regarding the
119	issuance of general obligation bonds are satisfied, including,
120	but not limited to, approval by a majority of the electorate of
121	Charlotte County, which cast votes in any duly held bond
122	referendum. For purposes of this section, the term "bonds" shall
123	shall include all forms or instruments of indebtedness. The
124	bonds may be issued as serial bonds or as term bonds or both.
125	The authority may issue capital appreciation bonds or variable
126	rate bonds. Any bonds must be authorized by resolution of the
127	governing body of the authority and bear the date or dates;
128	mature at the time or times, not exceeding 40 years after their
129	respective dates; bear interest at the rate or rates; be payable
130	at the time or times; be in the denomination; be in the form;
131	carry the registration privileges; be executed in the manner; be
132	payable from the sources and in the medium or payment and at the
133	place; and be subject to the terms for redemption, including
134	redemption prior to maturity, as the resolution may provide. If
135	any officer whose signature, or a facsimile of whose signature,
136	appears on any bonds ceases to be an officer before the delivery
137	of the bonds, the signature or facsimile is valid and sufficient
138	for all purposes as if he or she had remained in office until
139	the delivery. The bonds may be sold at public or private sale,
140	competitively or negotiated, for such price as the governing
141	body of the authority shall determine. Pending preparation of
142	the definitive bonds, the authority may issue interim
143	certificates, which shall be exchanged for the definitive bonds.
144	The bonds may be secured by resolution, indenture of trust, or
145	trust agreement. In addition, the governing body of the
146	authority may delegate to an officer, official, or agent of the
147	authority, as the governing body of the authority may select,
148	the power to determine the time; manner of sale, public or
149	private, competitive or negotiated; maturities; rate of
150	interest, which may be fixed or may vary at the time and in
151	accordance with specified formula or method of determination;
152	and any other terms and conditions as may be deemed appropriate
153	by the officer, official, or agent so designated by the
154	governing body of the authority. However, the amount and
155	maturity of the bonds and the interest rate of the bonds must be
156	within the limits prescribed by the governing body of the
157	authority and its resolution delegating to an officer, official,
158	or agent the power to authorize the issuance and sale of the
159	bonds. Bonds, notes, or other obligations issued hereunder may
160	be validated as provided in chapter 75, Florida Statutes. The
161	complaint in any action to validate the bonds, notes, or other
162	obligations must be filed only in the Circuit Court for
163	Charlotte County. Section 75.04(2), Florida Statutes, does not
164	apply to a complaint for validation brought by the authority.
165	The bonds of the authority, their transfer, and the income
166	therefrom, including any profits made on the sale thereof, are
167	at all times free from taxation of any kind by the state or by
168	any political subdivision or other agency or instrumentality
169	thereof. The exemption granted in this subsection is not
170	applicable to any tax imposed by chapter 220, Florida Statutes,
171	on interest, income, or profits on debt obligations owned.
172	(4)  To borrow money for any of its corporate purposes and
173	to execute notes, mortgages, deeds to secure debts, trust deeds,
174	and such other instruments as may be necessary or convenient to
175	evidence and secure such borrowing.
176	(5)  To issue revenue anticipation certificates for the
177	purpose of paying all or any part of the cost of any undertaking
178	or project of the authority authorized by law.  Such revenue
179	anticipation certificates shall be issued and validated under
180	and in accordance with the applicable provisions of the laws of
181	Florida.
182	(5)(6)  To construct, acquire, establish, improve, extend,
183	enlarge, reconstruct, reequip, maintain, repair, and operate any
184	project as herein defined.
185	(6)(7)  To acquire for any project authorized by this act
186	by grant, purchase, gift, devise, condemnation by eminent domain
187	proceedings, exchange or in any other manner, all property, real
188	or personal, or any estate or interest therein, upon such terms
189	and conditions as the authority shall by resolution fix and
190	determine.  The right of eminent domain herein conferred shall
191	be exercised by the authority in the manner provided by law.
192	(8)  To issue revenue bonds, payable solely from revenues,
193	to pay all or a part of the cost of acquisition, construction,
194	extension, enlargement, improvement, or modernization of any
195	project, and to pledge the revenues to secure the payment of
196	bonds.
197	(7)(9)  To enter into joint arrangements with other
198	transportation lines, or any common carrier, if the authority
199	shall deem it advantageous to do so.
200	(8)(10)  To make and enter into all contracts and
201	agreements and to do and perform all acts and deeds necessary
202	and incidental to the performance of its duties and the exercise
203	of its powers; to make and execute leases or agreements for the
204	use and occupation of the property and projects under its
205	control on such terms, conditions, and period of time as the
206	authority may determine, and to sell and dispose of such
207	property and projects as shall no longer be needed for the uses
208	and purposes of the authority on such terms and conditions as
209	shall be prescribed by resolution of the authority.
210	(9)(11)  To the extent permitted by law, to fix, regulate,
211	and collect rates and charges for the services and facilities
212	furnished by any project under its control, to establish, limit,
213	and control the use of any project as may be deemed necessary to
214	ensure the proper operation of the project; to impose sanctions
215	to promote and enforce compliance with any rule or regulation
216	which the authority may adopt in the regulation of the projects
217	under its control.
218	(10)(12)  To fix the rates of warehousing, storage, and
219	terminal charges for the use of the airport facilities of the
220	Charlotte County Airport.
221	(11)  To fix the rates and collect those rents on the land
222	and buildings owned by the authority in accordance with
223	regulations of the Federal Aviation Administration.
224	(12)(13)  To solicit all business and do all things
225	necessary or advisable to promote commerce and increase activity
226	at the Charlotte County Airport.
227	(13)(14)  To receive and accept from any federal or state
228	agency, grants for, or in aid of, the construction, improvement,
229	or operation of any project and to receive and accept
230	contributions from any source of either money, property, labor,
231	or other things of value.
232	(14)(15)  To make any and all applications required by the
233	treasury department and other departments or agencies of the
234	United States government as a condition precedent to the
235	establishment within the county of a free port, foreign trade
236	zone, or area for the reception from foreign countries of
237	articles of commerce and to expedite and encourage foreign
238	commerce, and the handling, processing, and delivery thereof
239	into foreign commerce free from the payment of custom duties and
240	to enter into any agreements required by such departments or
241	agencies in connection therewith and to make like applications
242	and agreements with respect to the establishment within said
243	county of one or more bonded warehouses.
244	(15)(16)  To enter into any contract with the State of
245	Florida, the government of the United States or any agency of
246	said governments which may be necessary in order to produce
247	assistance, appropriations, and aid for the construction,
248	enlargement, or improvement of the Charlotte County Airport.
249	(16)(17)  To make or cause to be made such surveys,
250	investigations, studies, borings, maps, plans, drawings, and
251	estimates of cost and revenues as it may deem necessary and may
252	prepare and adopt a comprehensive plan or plans, for the
253	location, construction, improvement, and development of any
254	project.
255	(17)(18)  To grant nonexclusive franchise to persons,
256	firms, or corporations for the operation of aeronautical and
257	nonaeronautical leases and other concessions in, on, and in
258	connection with, any project owned and operated by the
259	authority. In granting such franchise, it shall be the duty of
260	the authority to investigate and consider the qualifications and
261	ability of the lessee or concessionaires to provide or perform
262	the contemplated services for the public using the facilities
263	and the revenues which will be derived therefrom by the
264	authority and to exercise sound prudent business judgment on
265	behalf of the authority with respect thereto, calling for bids
266	when practicable and when the interests of the public will best
267	be served by such action.
268	(18)(19)  To enter into contracts with utility companies or
269	others for the supplying by said utility companies or others of
270	water, sewer, electricity, and/or telephone service to or in
271	connection with any project or to own, lease, construct, and
272	maintain any or all utilities, including the supplying of gas,
273	water, electricity, sewer, telephone, or other services
274	reasonably related to such utilities.
275	(19)(20)  To pledge by resolution or contract the revenues
276	arising from the operation of any project or projects owned and
277	operated by the authority to the payment of the cost of
278	operation, maintenance, repair, improvement, extension, and/or
279	enlargement of the project or projects from the operation of
280	which such revenues are received and for the payment of
281	principal and interest on bonds issued in connection with any
282	such project or projects constructed or acquired by the
283	authority under the provisions of this act. In any such case the
284	authority may adopt separate budgets for the operation of such
285	project or projects.  In every such case such revenues shall be
286	expended exclusively for the payment of the costs of operation,
287	maintenance, repair, improvement, extension, and enlargement of
288	the project or projects from the operation of which such
289	revenues arise, for the performance of the authority's contracts
290	in connection with such project or projects, and for the payment
291	of principal and interest requirements of any bond issued in
292	connection with the project or projects.  Any surplus of such
293	funds remaining on hand at the end of any year shall be carried
294	forward and may be expended in the succeeding year for the
295	payment of the costs of operation of such project or projects or
296	for the repair, improvement, and/or extension thereof as the
297	authority may determine, unless such surplus has been pledged
298	for the payment of principal and interest on bonds, as
299	authorized hereunder in subsection 21 of this section, in which
300	event any such surplus shall be applied in accordance with the
301	resolution pledging same.
302	(21)(a)  The authority is authorized to issue general
303	obligation bonds or revenue bonds of said authority for the
304	purpose of paying all or a part of the cost of any one or more
305	projects as herein defined, including the cost of enlargement,
306	expansion, and/or development of such project whether the
307	property used therefor has previously been acquired or not and
308	the cost of removing therefrom and/or relocating or
309	reconstructing at another location any buildings, structures, or
310	facilities, which in the opinion of such authority constitute
311	obstructions or hazards to the safe or efficient operation of
312	any such project, and for the purpose of paying off and retiring
313	any bonds issued or assumed under the provisions of this act.
314	(b)  The bonds of each issue shall be authorized by
315	resolution of the authority and shall be dated, shall bear
316	interest at such rate or rates not exceeding that amount that
317	may be authorized from time to time by the general laws of
318	Florida, shall mature, at such time or times not exceeding 40
319	years from their date or dates, as may be determined by the
320	authority, and may be made redeemable before maturity, at the
321	option of the authority, at such price or prices and under such
322	terms and conditions as may be fixed by the authority prior to
323	the issuance of the bonds. The authority shall determine the
324	form of bonds, including any interest coupons to be attached
325	thereto, and the manner of execution of the bonds, and shall fix
326	the denomination or denominations of the bonds and the place or
327	places of payment of principal and interest, which may be at any
328	bank or trust company within or without the state. The
329	resolution authorizing the issuance of the bonds shall contain
330	such provisions relating to the use of the proceeds from the
331	sale of the bonds and for the protection and security of holders
332	of the bonds, including their rights and remedies, and the
333	rights, powers, privileges, duties, and obligations of the
334	authority with respect to the same, as shall be determined by
335	the authority.  In case any officer whose signature or facsimile
336	of whose signature shall appear on any bonds or coupons shall
337	cease to be such officer before the delivery of such bonds, the
338	signature or the facsimile shall nevertheless be valid and
339	sufficient for all purposes the same as if he or she had
340	remained in office until such delivery.  All bonds issued under
341	the provisions of this act shall have and are hereby declared to
342	have all the qualities and incidents of negotiable instruments
343	under the negotiable instruments law of the state. The bonds may
344	be issued in coupon or in registered form, or both, as the
345	authority may determine, and provisions may be made for the
346	registration of any coupon bonds as to principal alone and also
347	as to both principal and interest and for the reconversion into
348	coupon bonds of any bonds registered as to both principal and
349	interest.  The issuance of such bonds shall not be subject to
350	any limitations or conditions contained in any other law.
351	(c)  Prior to any sale of bonds, the authority shall cause
352	notice to be given by publication in some daily newspaper
353	published and having a general circulation in the county that
354	the authority will receive bids for the purchase of the bonds at
355	the office of the authority in the county. The notice shall be
356	published twice and the first publication shall be given not
357	less than 15 days prior to the date set for receiving the bids.
358	The notice shall specify the amount of the bonds offered for
359	sale and shall state that the bids shall be sealed bids and
360	shall give the schedule of the maturities of the proposed bonds
361	and such other pertinent information as may be prescribed in the
362	resolution authorizing the issuance of such bonds or any
363	resolution subsequent thereto.  Bidders may be invited to name
364	the rate or rates of interest which the bonds are to bear or the
365	authority may name rates of interest and invite bids thereon.
366	In addition to publication of notice of the proposed sale the
367	authority pursuant to general law, shall also give notice in
368	writing of the proposed sale enclosing a copy of such
369	advertisement to at least 3 recognized bond dealers in the
370	state, such notices to be given not less than 10 days prior to
371	the date set for receiving bids.     (d)  All bonds and refunding
372	bonds issued pursuant to this chapter shall be sold at public
373	sale and shall be awarded to the bidder whose bid produces the
374	lowest net interest cost to the authority. The net interest cost
375	of bids shall be determined by taking the aggregate amount of
376	interest at the rate or rates specified in the bids, computed
377	from the date of the bonds to the date of the various stated
378	maturities thereof, and deducting therefrom the amount of any
379	premium offered in excess of the par value of the bonds or
380	adding thereto the amount of any discount offered below the par
381	value of the bonds, with interest computed on a 360 day-year-
382	basis. The authority shall reserve the right to reject any or
383	all bids. In no event shall said bonds be sold at a net interest
384	cost to the authority in excess of 6 percent per annum.  Pending
385	the preparation of definitive bonds, interim bonds may be issued
386	to the purchaser or purchasers of such bonds and may contain
387	such terms and conditions as the authority may determine.
388	(e)  The authority shall require all bidders for said bonds
389	to enclose a certified or bank cashiers check, in the amount of
390	2 percent of the total par value of the bonds offered for sale,
391	drawn on an incorporated bank or trust company payable
392	unconditionally to the order of the authority as a guarantee of
393	good faith in the performance of each bid; the checks of the
394	unsuccessful bidders shall be returned immediately upon the
395	award of the bonds and the check of the successful bidder shall
396	be retained by the authority and credited against the full
397	purchase price of the bonds at the time of delivery or retained
398	as, and for, liquidated damages in case of the failure of such
399	bidder to fulfill the terms of his or her bid.
400	(f)  No general obligation bonds shall be issued hereunder
401	unless the issuance of such bonds shall have been approved by a
402	majority of the votes cast in an election in which all
403	freeholders residing in Charlotte County who are qualified to
404	vote in such election may participate. Whenever the authority by
405	resolution requests the Board of County Commissioners of
406	Charlotte County to hold such an election, the board shall, on
407	behalf of the authority, hold, conduct, canvass, and announce
408	the results of such election in accordance with the procedure
409	prescribed by law for the issuance of county bonds. The expenses
410	of such election shall be paid by the authority.
411	(22)  To borrow money and to issue notes for any purpose or
412	purposes for which bonds may be issued under the provisions of
413	this act and to refund the same; to issue notes in anticipation
414	of the receipt of the proceeds of the sale of any such bonds.
415	(20)(23)  To do all other acts and things necessary or
416	proper in the exercise of the powers herein granted.
417	Section 5.  Section 17 of section 2 of chapter 98-508, Laws
418	of Florida, is amended to read:
419	Section 17.  Expenditure of funds.--Moneys of the authority
420	shall be deemed to be trust funds to be held and applied solely
421	for the purposes authorized by law. The authority is authorized
422	to receive moneys in its name, and all moneys drawn from
423	depository shall be upon checks, wire transfers, electronic
424	transfers, ACH transfers, or other legal and customary means or
425	warrants issued by the authority, and the checks or warrants so
426	drawn shall be signed by the chair or vice-chair of the
427	authority and attested by the secretary-treasurer or in his or
428	her absence by the assistant secretary-treasurer, and the seal
429	of the authority shall be affixed or printed thereon.
430	Section 6.  This act shall take effect upon becoming a law.

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