| 1 | A bill to be entitled |
| 2 | An act relating to the Department of Transportation; |
| 3 | amending s. 338.2275, F.S.; deleting obsolete provisions; |
| 4 | revising the maximum amount of bonds that are available |
| 5 | for turnpike projects; providing an effective date. |
| 6 |
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| 7 | Be It Enacted by the Legislature of the State of Florida: |
| 8 |
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| 9 | Section 1. Subsection (1) of section 338.2275, Florida |
| 10 | Statutes, is amended to read: |
| 11 | 338.2275 Approved turnpike projects.-- |
| 12 | (1) Legislative approval of the department's tentative |
| 13 | work program that contains the turnpike project constitutes |
| 14 | approval to issue bonds as required by s. 11(f), Art. VII of the |
| 15 | State Constitution. No more than $6 billion of bonds may be |
| 16 | outstanding to fund approved turnpike projects. Turnpike |
| 17 | projects approved to be included in future tentative work |
| 18 | programs include, but are not limited to, projects contained in |
| 19 | the 2003-2004 tentative work program. A maximum of $4.5 billion |
| 20 | of bonds may be issued to fund approved turnpike projects. |
| 21 | Section 2. This act shall take effect July 1, 2006. |