HB 1183CS

CHAMBER ACTION



1The Local Government Council recommends the following:
2
3     Council/Committee Substitute
4     Remove the entire bill and insert:
5
A bill to be entitled
6An act relating to the Orange County Civic Facilities
7Authority; codifying, reenacting, amending, and repealing
8chapters 71-803, 72-625, 73-569, 77-611, and 78-575, Laws
9of Florida, relating to the authority; providing an
10effective date.
11
12Be It Enacted by the Legislature of the State of Florida:
13
14     Section 1.  Pursuant to section 189.429, Florida Statutes,
15this act constitutes the codification of all special acts
16relating to the Orange County Civic Facilities Authority. It is
17the intent of the Legislature in enacting this law to provide a
18single comprehensive special act charter for the authority,
19including all current authority granted to the authority by its
20several legislative enactments.
21     Section 2.  Chapters 71-803, 72-625, 73-569, 77-611, and
2278-575, Laws of Florida, are amended, codified, reenacted, and
23repealed as provided in this act.
24     Section 3.  The charter for the Orange County Civic
25Facilities Authority is re-created and reenacted to read:
26     Section 1.  Creation; purposes.--There is hereby created
27and established the Orange County Civic Facilities Authority, a
28dependent district, hereafter referred to as the "authority," as
29a public body, politic and corporate, in Orange County, for the
30purpose of planning, developing, constructing, acquiring,
31owning, reconstructing, extending, enlarging, repairing,
32improving, relocating, equipping, maintaining, and operating
33facilities for the holding of conventions and expositions and
34civic, cultural, recreational, athletic, and similar events and
35activities. Said facilities may be located anywhere in Orange
36County and shall not be restricted in number. Said property is
37hereby deemed to be a public purpose the fulfillment of which is
38an urgent public necessity.
39     Section 2.  Membership and organization.--
40     (1)  The authority shall consist of 11 members, each
41serving a 3-year term, except for the initial selections, of
42which three shall be for 1-year terms, four shall be for 2-year
43terms, and four shall be for 3-year terms, all as hereinafter
44provided. The members shall, insofar as practicable, be drawn
45from city, county, civic, cultural, recreational, athletic,
46business, and social interests. The members of the authority
47shall be selected by the County Commission of Orange County in
48the following manner:
49     (a)  The county commission shall select four members from
50eight nominees made by the City Council of Orlando, which
51nominees are to be residents of the City of Orlando. After being
52presented with certified evidence of such nominations, the
53county commission shall forthwith, but in no event later than 20
54days thereafter, by majority vote, select the said four members.
55     (b)  The county commission shall select one member from two
56nominations made by the City Council of Winter Park, which
57nominees are to be residents of the City of Winter Park. After
58being presented with certified evidence of such nominations, the
59County Commission of Orange County shall forthwith, but in no
60event later than 20 days thereafter, by majority vote, select
61the said one member.
62     (c)  The county commission shall select one member from two
63nominations made by the City Council of Maitland, which nominees
64are to be residents of the City of Maitland. After being
65presented with certified evidence of such nominations, the
66County Commission of Orange County shall forthwith, but in no
67event later than 20 days thereafter, by majority vote, select
68the said one member.
69     (d)  The county commission shall select one member from the
70nominations made by the mayors or other heads of government of
71the incorporated municipalities within Orange County having a
72population of 3,000 persons or more other than the City of
73Orlando, the City of Winter Park, and the City of Maitland. Each
74mayor or head of government shall have the right to furnish one
75nominee to the county commission, which nominee shall be a
76resident of said municipality. After being presented with
77certified evidence of such nominations, the County Commission of
78Orange County shall forthwith, but in no event later than 20
79days thereafter, by majority vote, select the said one member.
80     (e)  The County Commission of Orange County shall select
81without nominations four members who reside within the remaining
82incorporated and unincorporated areas of Orange County.
83     (2)  In the manner set forth above, of the four members
84selected by the county commission from the initial eight
85nominees made by the City of Orlando, the county commission
86shall designate one to serve for the initial 1-year term, one to
87serve for the initial 2-year term, and two to serve for the
88initial 3-year term. The one member selected by the county
89commission from the initial two nominees made by the City of
90Winter Park shall be designated to serve for the initial 2-year
91term. The one member selected by the county commission from the
92initial two nominees made by the City of Maitland shall be
93designated to serve for the initial 2-year term. The one member
94selected by the county commission from the initial nominees made
95by the mayors or other heads of government of the municipalities
96within Orange County having a population of 3,000 persons or
97more other than the City of Orlando, the City of Winter Park and
98the City of Maitland shall be designated to serve for the
99initial 1-year term. Of the four members initially selected
100without nomination by the county commission, the county
101commission shall designate one to serve for the initial 1-year
102term, one to serve for the initial 2-year term, and two to serve
103for the initial 3-year term. Nominations and selections of
104members upon expiration of initial terms and thereafter shall be
105allocated to and made by the governmental unit or units last
106making the nominations or selections of said members as provided
107herein. Nominees shall be double the number of members to be
108selected at any one time except as provided in subsection
109(1)(d).
110     (3)  The initial nominations and selections called for in
111this section shall be made as soon as practicable after this act
112becomes law; however, this requirement shall not serve to
113invalidate the authority or any portions of the act. The results
114of all selections and removals shall be immediately certified to
115the authority.
116     (4)  All members shall be at the time of their selection
117and during the term of their membership electors of Orange
118County. The members shall not receive any compensation for their
119services except that they may be reimbursed for actual expenses
120necessarily incurred by them in the performance of their duties
121under this act. Each member, unless removed as hereinafter
122provided, shall serve until his or her successor is selected and
123qualified. A member may be removed by the county commission for
124just cause by a four-fifths vote of the county commission. A
125vacancy in membership for any reason shall be filled for the
126unexpired term of that member as soon as practicable after the
127vacancy occurs by the method of nomination and selection as set
128forth in this act. Before entering upon the duties of office,
129each member of the authority shall take and file with the Clerk
130of the Circuit Court of Orange County an oath to faithfully
131discharge the duties of his or her office, and such other oaths
132as may be required by law. A majority of the members of the
133authority shall constitute a quorum. A vacancy or unselected
134member in the authority shall not impair the rights of a quorum
135to exercise all the rights and perform all the duties of the
136authority.
137     (5)  The authority and the members thereof shall organize
138as soon as practicable after this act becomes law; however, this
139requirement shall not serve to invalidate the authority or any
140portion of this act. The authority shall elect by majority vote
141one of its members as chair, one as vice chair, one as
142secretary, and one as treasurer. The treasurer of the authority,
143prior to entering upon his or her duties as such officer, and
144any other officer or employee so required by the authority,
145shall provide a surety bond in an amount to be determined by the
146authority conditioned upon the faithful performance of the
147duties of his or her office or employment.
148     Section 3.  Definitions.--As used in this act, unless some
149other meaning is plainly intended:
150     (1)  "City" means any municipality in Orange County.
151     (2)  "County" means the County of Orange.
152     (3)  "Authority" means the Orange County Civic Facilities
153Authority created by the provisions of this act.
154     (4)  "Governmental unit" means the County of Orange and
155each municipality and district, improvement or otherwise, in the
156county and each agency or instrumentality thereof. Included in
157the term "district," but not limited thereto, is the Reedy Creek
158Improvement District, created under the name of "Reedy Creek
159Drainage District" by decree of the circuit court in and for the
160ninth judicial circuit, entered in chancery No. 66-1061 on May
16113, 1966, and any and all bodies succeeding to the privileges
162and functions thereof, provided, however, that the term
163"governmental unit" or "governmental unit in or of Orange
164County" and similar designations shall apply only to the
165portions of any governmental unit that is within the boundaries
166of Orange County.
167     (5)  "Facilities" means and includes facilities and site or
168sites for holding any and all types of conventions, expositions,
169civic and cultural events, recreational and athletic events, and
170similar events and activities and includes auditoriums, towers,
171coliseums, athletic fields, stadiums, music halls and buildings,
172structures, utilities, parks, parking areas, roadways, and all
173other facilities and properties reasonably necessary or
174desirable to carry out the purposes of this act.
175     (6)  "Cost" or "costs," as applied to facilities, means and
176includes the cost of acquisition and construction of said
177facilities, including the cost of all land, property, property
178rights, easements, franchises, labor, insurance, materials, and
179equipment required to carry out the purposes of this act, and
180includes financing charges, including bond discount, interest,
181and debt service and reserves therefor prior to and during
182construction and for reasonable period of time thereafter, costs
183of plans and specifications, estimates of costs and of revenues,
184costs of engineering and architectural services, costs of legal
185services including those rendered for the issuance, validation
186and sale of bonds, all expenses necessary or incidental to
187determining the feasibility or practicability of such
188acquisition and construction, administrative expenses, and such
189other expenses as may be necessary or incident to the
190acquisition and construction or the financing herein authorized,
191and includes reimbursement from bond proceeds of any funds
192advanced for such purpose prior to the sale of the bonds
193authorized by this act.
194     Section 4.  General powers.--The authority is hereby
195authorized and empowered to:
196     (1)  Sue in its own name, which power is granted without
197waiving or removing its immunity from suit except insofar as
198such immunity is expressly herein waived or removed.
199     (2)  Adopt bylaws for the regulation of its affairs and the
200conduct of its business.
201     (3)  Adopt and use an official seal.
202     (4)  Plan, develop, purchase, lease, or otherwise acquire,
203construct, reconstruct, improve, extend, enlarge, relocate,
204equip, repair, maintain, and operate facilities. All contracts
205for constructing, improving, extending, enlarging, relocating,
206repairing, and equipping of facilities of the authority in the
207amount of $5,000 or more shall be awarded by the authority to
208the bidder who, as determined by the authority, is the best
209bidder for the project contemplated after consideration of all
210relevant factors including the purposes and provisions of this
211act and the competitiveness of all bids received. The authority
212shall, at least 30 days prior to the award of such contract,
213publish one time in a newspaper of general circulation in Orange
214County a notice requesting bids on such contract. The authority
215shall have the right and power to reject all bids and request
216new bids in the same manner as bids were first requested.
217Notwithstanding anything that may be to the contrary, for the
218purposes of the three preceding sentences only, the purchase,
219lease, or acquisition otherwise of site or sites specifically
220shall not be included in facilities. Without limiting anything
221elsewhere embraced in this act, the authority shall not be
222empowered or authorized to build or construct in its facilities
223any sleeping accommodations held out for rent to the public.
224     (5)  Make a comprehensive plan for the overall orderly
225development of facilities and develop detailed architectural and
226engineering plans for specific facilities, and obtain necessary
227feasibility and other reports and studies.
228     (6)  Acquire by lease, grant, purchase, gift, or devise
229from any source, including governmental units, without
230requirement of referendum, all property, real or personal, or
231any estate or interest therein, necessary, desirable, or
232convenient for the purpose of this act, and lease or rent all or
233any part thereof and exercise all of its powers and authority
234with respect thereto. Governmental units may sell or lease said
235property to the authority for nominal consideration. Without
236limiting the foregoing or the existing powers and authority of
237the County of Orange or the municipalities in Orange County, the
238county and municipalities in the county may, within their
239respective territorial jurisdictions and by the methods provided
240by chapters 73 and 74, Florida Statutes, insofar as said
241statutes are consistent herewith, condemn real property and, as
242herein provided and with the agreement of the authority,
243transfer same to the authority, all to be done for the uses and
244purposes of this act. Any title to real property so acquired by
245condemnation may be in fee simple, absolute and unqualified in
246any way or any lesser interest therein. Nothing in this act
247shall be construed to allow condemnation of real property for
248purposes or uses other than as herein provided.
249     (7)  Borrow money and issue revenue bonds and provide for
250the rights of the holders thereof.
251     (8)  Issue revenue bonds of the authority, as hereinafter
252provided, to pay the cost of planning, developing, purchasing,
253leasing, or otherwise acquiring, constructing, reconstructing,
254improving, extending, enlarging, relocating, and equipping
255facilities and otherwise carrying out the purposes of this act
256and secure the payment of said bonds by a pledge of all or any
257portion of the revenues and moneys legally available therefor,
258and, in general, provide for the security of the bonds and the
259rights and remedies of the holders thereof, provided, however,
260that no revenue bonds may be issued unless it appears, after
261proper study, that the revenues available under this act to the
262authority will, with reasonable probability, be sufficient to
263pay the bonds.
264     (9)  Issue revenue refunding bonds of the authority, as
265hereinafter provided, and refund any bonds then outstanding
266which shall have been issued under the provisions of this act.
267     (10)  Lease, rent, or contract for the operation of any
268part of any of the facilities of the authority.
269     (11)  Fix and collect rates, rentals, fees, and charges for
270the use of any and all of the facilities of the authority.
271     (12)  Contract for the operation of concessions on or in
272any of the facilities of the authority. The authority may also
273at its discretion operate such concessions as it deems
274desirable.
275     (13)  Advertise and promote within or without the state any
276of the facilities and activities of the authority. Without
277limiting the foregoing, funds available under section 5(5)(b)
278shall not be used to advertise or promote private enterprise.
279     (14)  Make and enter into all contracts and agreements
280necessary or incidental to the performance of the duties imposed
281by and the execution of the powers granted under this act and
282employ such consulting services, engineers, superintendents,
283managers, construction and financial experts and attorneys, and
284such employees and agents as may, in the judgment of the
285authority, be deemed necessary, and fix their compensation.
286     (15)  Cooperate with and contract with the government of
287the United States or the state or any agency, instrumentality,
288or political subdivision of either, or with any municipality,
289district, private corporation, copartnership, association,
290person, or individual in providing for or relating to the
291authority and facilities as may be necessary, desirable, or
292convenient in carrying out the provisions and purposes of this
293act.
294     (16)  Without limiting the foregoing, do all acts or things
295necessary, desirable, or convenient to carry out the powers
296expressly granted in this act.
297     (17)  Notwithstanding the foregoing, the powers enumerated
298in subsections (4), (5), (6), (7), (8), (9), (10), (11), (12),
299(13), (14), (15), and (16) of this section may not be exercised
300when the cost involved in the exercise thereof exceeds an
301aggregate amount of $25,000 without the prior written consent of
302the Board of County Commissioners of Orange County.
303     (18)(a)  The authority shall begin its fiscal year on
304October 1 of each year and end it on September 30. Not less than
3051 month prior to the end of each fiscal year of the authority,
306the authority shall adopt by resolution its proposed budget for
307the ensuing fiscal year, and submit the same to the Board of
308County Commissioners of Orange County for its review and
309approval. Such proposed budget shall include all anticipated
310expenditures of the authority for all of its projects during the
311ensuing fiscal year, including operating expenses, capital
312outlays, materials, labor, equipment, supplies, payments of
313principal and interest on all outstanding bonds of the
314authority, and sinking fund and reserve requirements of such
315bonds. Such proposed budget shall provide for expenditures only
316to the extent of funds legally available to the authority for
317such purposes and reasonably anticipated revenues of the
318authority for the ensuing fiscal year from established sources,
319based upon past experience and reasonable projections thereof,
320and from new projects or new sources of income of the authority.
321The Board of County Commissioners of Orange County may, within
32210 days after receipt of such proposed budget, conduct a public
323hearing with respect thereto, and in that event, the chair and
324executive director of the authority shall be present at each
325such public hearing. After such public hearing, the board of
326county commissioners may require the authority to alter, amend,
327or otherwise modify its proposed budget as the board of county
328commissioners may direct. During the last 10 days of each of its
329fiscal years, the authority shall adopt by resolution its budget
330for the ensuing year, as may be altered, amended, or modified by
331the board of county commissioners, subject to the same
332constraints as to the amount of expenditures as set forth above
333with respect to the proposed budget of the authority. Once
334adopted, the said budget shall not be amended except by
335resolution of the authority and the public notice of the
336authority's intention to consider amending its budget, which
337notice shall be by publication in a newspaper of general
338circulation in Orange County at least 10 days prior to the
339meeting of the authority at which such proposed amendment is to
340be finally considered.
341     (b)  Within 90 days following the close of each fiscal
342year, the authority shall prepare a comprehensive report of its
343operations of each project under its control during the
344preceding fiscal year, including all matters relating to rates,
345charges, revenues, expenses of maintenance, repair, and
346operation and of replacements and extensions, principal and
347interest requirements, and the status of all funds. Copies of
348such annual reports shall be filed with the secretary of the
349authority and with the Board of County Commissioners of Orange
350County.
351     (c)  The authority shall cause an audit to be made of its
352books and accounts for each of its fiscal years by an
353independent certified public accountant, which audit shall be
354accompanied by the accountant's opinion and qualifications
355relating thereto, if any.
356     Section 5.  Bonds; financing and payment for the authority
357and facilities.--
358     (1)  Subject to the provisions of section 4(17) of this
359act, the authority shall have the power and is hereby authorized
360from time to time to issue revenue bonds in such principal
361amount as, in the opinion of the authority, shall be necessary
362to provide sufficient moneys for achieving its purposes,
363including the cost of planning, development, construction,
364reconstruction, improvement, extension, enlargement, repair,
365relocation, and equipping of facilities, the cost of acquisition
366of property, interest on bonds during construction and for a
367reasonable period thereafter, establishment of reserves to
368secure bonds, and all other costs and expenditures of the
369authority incident to and necessary, desirable, or convenient to
370carry out its purposes and powers.
371     (2)  Bonds shall be authorized by resolution of the members
372of the authority and shall bear such date or dates; mature at
373such time or times not exceeding 40 years from their respective
374dates; bear interest at such rate or rates not exceeding the
375maximum rate or rates authorized by law; be in such
376denominations; be in such form, either coupon or fully
377registered; carry such registration, exchangeability, and
378interchangeability privileges; be payable in such medium of
379payment and at such place or places; be subject to such terms of
380redemption; and be entitled to such priorities of lien on the
381revenues and other available moneys as such resolution or any
382resolution subsequent thereto may provide. The bonds shall be
383executed either by manual or facsimile signature by such
384officers as the authority shall determine, provided that such
385bonds shall bear at least one signature which is manually
386executed thereon. The coupons attached to such bonds shall bear
387the facsimile signature or signatures of such officer or
388officers as shall be designated by the authority. Such bonds
389shall have the seal of the authority affixed, imprinted,
390reproduced, or lithographed thereon.
391     (3)  The bonds shall be sold at public or private sale at a
392price of not less than 95 percent of the par value thereof.
393Pending the preparation of definitive bonds, temporary bonds or
394interim certificates may be issued to the purchaser or
395purchasers of such bonds and may contain such terms and
396conditions as the authority may determine.
397     (4)  Payment of the bonds and the principal and interest
398thereon may be secured by a pledge of all or part of the
399revenues provided for in this act together with such other
400revenues as may otherwise be authorized by general or special
401law, provided, however, that no ad valorem taxes may be pledged
402for payment of the bonds except after full compliance with the
403State Constitution.
404     (5)  The following revenues may be pledged by the authority
405as security for and may be used for payment of the bonds of the
406authority issued pursuant to this act, interest thereon, and
407other necessary expenses and costs of said bonds:
408     (a)  The revenues accruing to the authority from operation
409or use of facilities.
410     (b)  No taxes received by any governmental unit in Orange
411County pursuant to the Local Option Tourist Development Act,
412section 125.0104, Florida Statutes, shall be transmitted or paid
413over to the authority unless said transmittal or payment is part
414of Orange County's plan for tourist development, adopted or
415amended from time to time pursuant to said Local Option Tourist
416Development Act.
417     (c)  Any other revenues provided to the authority by
418governmental units or by other entities for pledging by the
419authority as security for and payment of the revenue bonds of
420the authority issued pursuant to this act, interest thereon, and
421other necessary expenses and costs of the revenue bonds. Such
422other revenues that may be so provided to the authority, in the
423discretion of the governmental units or other entities, shall
424include, but not be limited to, cigarette taxes as authorized by
425general law accruing to governmental units in Orange County, ad
426valorem taxes, and occupational license taxes or similar taxes
427levied, collected, or received under general or special law or
428the law of any governmental unit in Orange County. Said other
429revenues may be so provided and used despite the provisions of
430any other law; provided, however, that ad valorem taxes may be
431so provided and used only after full compliance with the State
432Constitution.
433     (6)  Without limiting anything contained elsewhere in this
434act, the revenues available to the authority as set forth in
435subsection (5)(a), (b), and (c), if not previously pledged to
436revenue bonds issued or to be issued pursuant to this act or
437otherwise committed, may be used to otherwise finance or pay for
438facilities and the authority or the operation thereof or
439otherwise in carrying out the purposes and provisions of this
440act.
441     (7)  Notwithstanding anything that may be contrary in this
442act, the authority shall have the power in any bond resolution,
443trust indenture, or other agreement authorizing the issuance of
444revenue bonds pursuant to this act to provide for pledging for
445payment of said bonds all or any part of the foregoing revenues
446set forth in subsection (5)(a), (b), and (c) and to establish
447the order of priority in which such revenues shall be applied
448and used in paying debt service (principal, interest, reserves,
449sinking funds, and other necessary costs and expenses) on such
450revenue bonds; and the authority shall further have the power to
451provide, if in any year all of the foregoing pledged revenues
452are not needed for payment of principal, interest, reserves,
453sinking funds, and other necessary costs and expenses of said
454bonds, that the previously pledged revenues may be used for
455other facility financing or payment of costs and expenses and
456for operating expenses and costs of the facilities and authority
457and otherwise in carrying out the purposes and provisions of
458this act and, if not so needed, that any such unneeded and
459unused revenues, except revenues derived from operation or use
460of the facilities, may be returned to the governmental unit or
461units or other entities from which they were received.
462     (8)  Any such resolution or resolutions authorizing any
463bonds may contain provisions, which shall be part of the
464contract with the holders of such bonds, as to:
465     (a)  The pledging of all or any part of the revenues or
466other moneys lawfully available therefor.
467     (b)  The construction, reconstruction, improvement,
468extension, enlargement, repair, relocation, and equipping of
469facilities authorized by this act.
470     (c)  Limitations on the purposes to which the proceeds of
471the bonds then or thereafter to be issued or of any loan or
472grant by any federal agency or the state or any political
473subdivision thereof may be applied.
474     (d)  The fixing, charging, establishing, revising,
475increasing, reducing, and collecting of rates, fees, rentals, or
476other charges for the use of facilities of the authority or any
477part thereof.
478     (e)  The setting aside of reserves or of sinking funds and
479the regulation and disposition thereof.
480     (f)  Limitations on the issuance of additional bonds.
481     (g)  The terms and provisions of any lease-purchase
482agreement, deed of trust, or indenture securing the bonds, or
483under which same may be issued.
484     (h)  Any other or additional matters of like or different
485character, which in any way affect the security or protection of
486the bonds.
487     (9)  The authority may enter into any deeds of trust,
488indentures, or other agreements with any bank or trust company
489within or without the state as security for such bonds and may,
490under such agreements, assign and pledge all or any of the
491revenues and other available moneys pursuant to the terms of
492this act. Such deed of trust, indenture, or other agreement may
493contain such provisions as are customary in such instruments or
494as the authority may authorize, including, but without
495limitation, provisions as to:
496     (a)  The pledging of all or any part of the revenues or
497other moneys lawfully available therefor.
498     (b)  The application of funds and the safeguarding of funds
499on hand or on deposit.
500     (c)  The rights and remedies of the trustee and the holders
501of the bonds.
502     (d)  The terms and provisions of the bonds or the
503resolutions authorizing the issuance of the same.
504     (e)  Any other or additional matters of like or different
505character which in any way affect the security or protection of
506the bonds.
507     (10)  It is the intention hereof that any pledge made by
508the authority shall be valid and binding from the time the
509pledge is made; that the moneys so pledged and thereafter
510received by the authority shall immediately be subject to the
511lien of such pledge without any physical delivery thereof or
512further act; and that the lien of any such pledge shall be valid
513and binding as against all parties. Neither the resolution nor
514any other instrument by which a pledge is created need be
515recorded.
516     (11)  Neither the members nor any person executing the
517bonds shall be liable personally on the bonds or be subject to
518any personal liability or accountability by reason of the
519issuance thereof.
520     (12)  The authority shall have power, out of any funds
521available therefor, to purchase its bonds, which shall thereupon
522be canceled, at a price not exceeding, if the bonds are then
523redeemable, the redemption price then applicable plus accrued
524interest to the next date of redemption thereof or, if the bonds
525are not then redeemable, the redemption price applicable on the
526first date after such purchase upon which the bonds become
527subject to redemption plus accrued interest to said date.
528     (13)  Bonds issued under the provisions of this act shall
529not be deemed to constitute a debt of the County of Orange or
530any other governmental unit in Orange County or a pledge of the
531faith and credit of the County of Orange or any other
532governmental unit in Orange County, and a statement to that
533effect shall be recited on the face of the bonds.
534     (14)  As the authority serves an essential public purpose
535and performs an essential public function and as its facilities
536will constitute public property used for public purposes, no
537taxes or assessments shall be levied upon any such property or
538upon the income therefrom and bonds issued under the provisions
539of this act, their transfer, and the income therefrom, including
540any profit made on the sale thereof, shall at all times be free
541from taxation within this state.
542     Section 6.  Notes of the authority.--The authority is
543authorized from time to time to issue its negotiable notes for
544any corporate purpose and to renew from time to time any notes
545by the issuance of new notes, whether the notes to be renewed
546have or have not matured. The authority may issue notes partly
547or wholly to renew notes or to discharge other obligations then
548outstanding or partly or wholly for any other purpose. The notes
549may be authorized, sold, executed, and delivered in the same
550manner as bonds. Any resolution or resolutions authorizing notes
551of the authority or any issues thereof may contain any
552provisions that the authority is authorized to include in any
553resolution or resolutions authorizing revenue bonds of the
554authority or any issue thereof, and the authority may include in
555any notes any terms, covenants, or conditions that it is
556authorized to include in any bonds. All such notes shall be
557payable solely from the revenues available under this act to the
558authority, subject only to any contractual rights of the holders
559of any of its notes or other obligations then outstanding.
560     Section 7.  Refunding bonds.--
561     (1)  The authority is authorized to provide by resolution
562for the issuance from time to time of bonds for the purpose of
563refunding any bonds then outstanding. The authority is further
564authorized to provide by resolution for the issuance of bonds
565for the combined purpose of:
566     (a)  Paying the cost of planning, developing, acquiring,
567constructing, reconstructing, improving, extending, enlarging,
568repairing, relocating, and equipping of facilities of the
569authority and other costs as may be defined in section 3(6).
570     (b)  Refunding any bonds then outstanding. The
571authorization, sale, and issuance of such obligations, the
572maturities and other details thereof, and the rights, powers,
573privileges, duties, and obligations of the authority with
574respect to the same shall be governed by the foregoing
575provisions of this act insofar as the same may be applicable.
576     (2)  In the event the authority determines to issue bonds
577for the purpose of refunding any outstanding bonds prior to the
578maturity thereof, the proceeds of such refunding bonds may,
579pending the redemption of the bonds to be refunded, be invested
580in direct obligations of the United States, or certificates of
581deposit of banks or trust companies fully secured in the same
582manner as state and county deposits are required to be secured
583by law of the state. It is the express intention of this act
584that outstanding bonds may be refunded and retired by and upon
585the issuance of refunding bonds as long as the outstanding bonds
586to be refunded will mature or be subject to prior redemption not
587later than 10 years after the date of issuance of such refunding
588bonds or such longer period of time as may be allowed by law.
589     Section 8.  Remedies.--
590     (1)  The rights and the remedies herein conferred upon or
591granted to the bondholders shall be in addition to and not in
592limitation of any rights and remedies lawfully granted to such
593bondholders by any resolution, indenture, or other agreement
594under which the bonds may be issued or secured. In the event
595that the authority defaults in the payment of the principal of
596or interest on any of the bonds issued pursuant to the
597provisions of this act after such principal of or interest on
598the bonds has become due, whether at maturity or upon call for
599redemption as provided in said resolution, and such default
600shall continue for a period of 30 days, or in the event that the
601authority fails or refuses to comply with any material provision
602of any agreement made with, or for the benefit of, the holders
603of the bonds, the holders of 25 percent in aggregate principal
604amount of the bonds then outstanding shall be entitled to the
605appointment of a trustee to represent such bondholders for the
606purpose thereof; provided, however, that such holders of 25
607percent in aggregate principal amount of the bonds then
608outstanding shall have first given written notice of their
609intention to appoint a trustee to the authority.
610     (2)  In the event of the default, failure, or refusal set
611forth in subsection (1), such trustee, and any trustee under any
612deed of trust, indenture, or other agreement, may, and upon
613written request of the holders of 25 percent in principal amount
614of the bonds then outstanding or such other percentage that may
615be specified in any deed of trust, indenture, or other agreement
616aforesaid shall, in any court of competent jurisdiction, in his
617or her or its own name:
618     (a)  By mandamus or other suit, action, or proceeding at
619law or in equity, enforce all rights of the bondholders,
620including the right to require the authority to fix, establish,
621maintain, collect, and charge rates, fees, rentals, and other
622charges adequate to carry out any agreement as to, or pledge of,
623the revenues and to require the authority to carry out any other
624covenants and agreements with or for the benefit of the
625bondholders and to perform its and their duties under this act;
626     (b)  Bring suit upon the bonds;
627     (c)  By an action or suit require the authority to account
628as if it were the trustee of an express trust for the
629bondholders; or
630     (d)  By civil action or suit enjoin any acts or things
631which may be unlawful or in violation of the rights of the
632bondholders.
633     (3)  Any trustee when appointed as aforesaid, or acting
634under a deed of trust, indenture, or other agreement, in the
635event of the default, failure, or refusal set forth in
636subsection (1), and whether or not all bonds have been declared
637due and payable, shall be entitled to the appointment of a
638receiver who may enter upon and take possession of the
639facilities or any part or parts thereof, the revenues, and other
640pledged moneys and operate and maintain the same for and on
641behalf of and in the name of the authority and the bondholders,
642collect and receive all revenues and other pledged moneys in the
643same manner as the authority might do, and deposit all such
644revenues and moneys in a separate account and apply the same in
645such manner as the court shall direct. In any suit, action, or
646proceeding by the trustee, the fees, counsel fees, and expenses
647of the trustee and said receiver, if any, and all costs and
648disbursements allowed by the court shall be a first charge on
649any revenues. Such trustee shall, in addition to the foregoing,
650have and possess all of the powers necessary or appropriate for
651the exercise of any functions specifically set forth herein or
652incident to the representation of the bondholders in the
653enforcement and protection of their rights.
654     Section 9.  Other revenues.--The County of Orange and any
655and all other governmental units in Orange County may
656appropriate additional funds for use by the authority for
657maintenance of the facilities and for the payment of employees'
658salaries, operating and planning expenses, and other necessary
659expenditures, and such expenditures are declared to be for
660valid, necessary public purposes.
661     Section 10.  Public or private subscription.--The authority
662may solicit, encourage, promote, and accept any and all public
663or private subscriptions and donations of moneys and other
664property and assets for use in furthering the provisions and
665purposes of this act.
666     Section 11.  Provisions of act severable.--The provisions
667of this act are severable, and it is the intention to confer the
668whole or any part of the powers herein provided, and if any
669provision or provisions of this act or any of the powers granted
670by this act shall be held unconstitutional or invalid by any
671court of competent jurisdiction, the decision of such court
672shall not affect or impair any remaining provision or provisions
673of this act or any of the remaining powers granted by this act.
674It is hereby declared to be the legislative intent that this act
675would have been adopted had such unconstitutional or invalid
676provision or provisions or power not been included therein.
677     Section 12.  Alternative method.--This act shall be deemed
678to provide an additional and alternative method for the doing of
679the things authorized hereby. This act, being for a public
680purpose, shall be liberally construed to affect the purposes
681thereof.
682     Section 4.  Chapters 71-803, 72-625, 73-569, 77-611, and
68378-575, Laws of Florida, are repealed.
684     Section 5.  This act shall take effect upon becoming a law.


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