Senate Bill sb0676

    Florida Senate - 2004                                   SB 676

    By Senator Argenziano





    3-685A-04

  1                      A bill to be entitled

  2         An act relating to the Florida State Fair

  3         Authority; creating s. 616.2575, F.S.;

  4         authorizing the authority to issue up to $10

  5         million in bonds; prescribing projects for

  6         which bond proceeds may be used; providing for

  7         payment of debt service on such bonds;

  8         providing an effective date.

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

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12         Section 1.  Section 616.2575, Florida Statutes, is

13  created to read:

14         616.2575  Bonds; issuance authorized;

15  purpose.--Pursuant to s. 11, Art. VII of the State

16  Constitution, the Florida State Fair Authority is authorized

17  to issue, pursuant to s. 616.257, revenue bonds in an amount

18  of not more than $10 million for the purposes of: acquiring

19  two parcels of real property consisting of approximately 36

20  acres adjacent to the existing Florida State Fairgrounds in

21  Hillsborough County; constructing an operations building, a

22  campground addition, entry gates, or a storage building or all

23  such improvements; performing paving and other site work;

24  constructing an addition to the administrative building;

25  performing land improvements; acquiring other real property as

26  may be available; and performing or constructing other

27  replacements and renovations. The authority shall pay the debt

28  service on such bonds as provided in s. 616.258 from rates,

29  fees, rentals, tolls, and other charges for the use of such

30  projects or for the services or facilities furnished thereby

31  and from other special funds pledged therefor.

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    Florida Senate - 2004                                   SB 676
    3-685A-04




 1         Section 2.  This act shall take effect upon becoming a

 2  law.

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 5                          SENATE SUMMARY

 6    Authorizes the Florida State Fair Authority to issue up
      to $10 million in bonds, the proceeds of which will be
 7    used to acquire specified real property or to construct
      improvements or perform maintenance, land improvements,
 8    and renovations on the existing grounds, or both.
      Provides for payment of debt service on the bonds.
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