Florida Senate - 2006 SENATOR AMENDMENT
Bill No. CS for CS for SB 1766, 2nd Eng.
Barcode 335362
CHAMBER ACTION
Senate House
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05/05/2006 01:02 PM .
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11 Senators Sebesta and Webster moved the following amendment:
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13 Senate Amendment
14 On page 21, line 21, through
15 page 27, line 30, delete those lines
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17 and insert: subsection. The revenues available under this
18 subsection shall not be pledged to the payment of any bonds
19 other than the Florida Ports Financing Commission Series 1996
20 and Series 1999 Bonds currently outstanding; provided,
21 however, such revenues may be pledged to secure payment of
22 refunding bonds to refinance the Florida Ports Financing
23 Commission Series 1996 and Series 1999 Bonds. No refunding
24 bonds secured by revenues available under this subsection may
25 be issued with a final maturity later than the final maturity
26 of the Florida Ports Financing Commission Series 1996 and
27 Series 1999 Bonds or which provide for higher debt service in
28 any year than is currently payable on such bonds. Any revenue
29 bonds or other indebtedness issued after July 1, 2000,
30 including other than refunding bonds, shall be issued by the
31 Division of Bond Finance at the request of the Department of
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Florida Senate - 2006 SENATOR AMENDMENT
Bill No. CS for CS for SB 1766, 2nd Eng.
Barcode 335362
1 Transportation pursuant to the State Bond Act. This provision
2 shall expire on June 30, 2037, but shall continue until all
3 bonds are paid from the Florida Ports Financing Commission
4 Series 1996 Bonds or any subsequent refunding bond issue that
5 shall not extend the term of the Series 1996 Bonds, or new
6 bonds issued that shall have a term no later than 2037.
7 (4) Notwithstanding any other provision of law except
8 subsections (1), (2), and (3), on July 1, 1999, and annually
9 thereafter, $10 million shall be deposited in the State
10 Transportation Trust Fund solely for the purposes of funding
11 the Florida Seaport Transportation and Economic Development
12 Program as provided in chapter 311 and for funding seaport
13 intermodal access projects of statewide significance as
14 provided in s. 341.053. Such revenues shall be distributed to
15 any port listed in s. 311.09(1), to be used for funding
16 projects as follows:
17 (a) For any seaport intermodal access projects that
18 are identified in the 1997-1998 Tentative Work Program of the
19 Department of Transportation, up to the amounts needed to
20 offset the funding requirements of this section.
21 (b) For seaport intermodal access projects as
22 described in s. 341.053(5) that are identified in the 5-year
23 Florida Seaport Mission Plan as provided in s. 311.09(3).
24 Funding for such projects shall be on a matching basis as
25 mutually determined by the Florida Seaport Transportation and
26 Economic Development Council and the Department of
27 Transportation, provided a minimum of 25 percent of total
28 project funds shall come from any port funds, local funds,
29 private funds, or specifically earmarked federal funds.
30 (c) On a 50-50 matching basis for projects as
31 described in s. 311.07(3)(b).
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Florida Senate - 2006 SENATOR AMENDMENT
Bill No. CS for CS for SB 1766, 2nd Eng.
Barcode 335362
1 (d) For seaport intermodal access projects that
2 involve the dredging or deepening of channels, turning basins,
3 or harbors,; or the construction or rehabilitation of wharves,
4 docks, or similar structures. Funding for such projects shall
5 require a 25-percent match of the funds received pursuant to
6 this subsection. Matching funds shall come from any port
7 funds, federal funds, local funds, or private funds.
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9 Such revenues may be assigned, pledged, or set aside as a
10 trust for the payment of principal or interest on bonds, tax
11 anticipation certificates, or any other form of indebtedness
12 issued by an individual port or appropriate local government
13 having jurisdiction thereof, or collectively by interlocal
14 agreement among any of the ports, or used to purchase credit
15 support to permit such borrowings. However, such debt shall
16 not constitute a general obligation of the state. This state
17 does hereby covenant with holders of such revenue bonds or
18 other instruments of indebtedness issued hereunder that it
19 will not repeal or impair or amend this subsection in any
20 manner which will materially and adversely affect the rights
21 of holders so long as bonds authorized by this subsection are
22 outstanding. Any revenues that are not pledged to the
23 repayment of bonds as authorized by this section may be
24 utilized for purposes authorized under the Florida Seaport
25 Transportation and Economic Development Program. This revenue
26 source is in addition to any amounts provided for and
27 appropriated in accordance with s. 311.07 and subsection (3).
28 The Florida Seaport Transportation and Economic Development
29 Council shall submit to the Department of Transportation a
30 list of strategic transportation, economic development, and
31 freight mobility projects that contribute to the economic
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Florida Senate - 2006 SENATOR AMENDMENT
Bill No. CS for CS for SB 1766, 2nd Eng.
Barcode 335362
1 growth of the state and that approve distribution of funds to
2 ports for projects that have been approved pursuant to s.
3 311.09(5)-(9), or that have been approved for seaport
4 intermodal access projects identified in the 5-year Florida
5 Seaport Mission Plan as provided in s. 311.09(3) and mutually
6 agreed upon by the FSTED Council and the Department of
7 Transportation. The Department of Transportation shall approve
8 the prioritization and selection of projects for funding. The
9 Department of Transportation shall include the selected
10 projects for funding in the tentative work program developed
11 pursuant to s. 339.135. All contracts for actual construction
12 of projects authorized by this subsection must include a
13 provision encouraging employment of participants in the
14 welfare transition program. The goal for employment of
15 participants in the welfare transition program is 25 percent
16 of all new employees employed specifically for the project,
17 unless the Department of Transportation and the Florida
18 Seaport Transportation and Economic Development Council
19 demonstrate that such a requirement would severely hamper the
20 successful completion of the project. In such an instance,
21 Workforce Florida, Inc., shall establish an appropriate
22 percentage of employees that must be participants in the
23 welfare transition program. The council and the Department of
24 Transportation are authorized to perform such acts as are
25 required to facilitate and implement the provisions of this
26 subsection, including the funding of approved projects by the
27 use of other state funding programs, local contributions from
28 seaports, and the creative use of federal funds. To better
29 enable the ports to cooperate to their mutual advantage, the
30 governing body of each port may exercise powers provided to
31 municipalities or counties in s. 163.01(7)(d) subject to the
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Florida Senate - 2006 SENATOR AMENDMENT
Bill No. CS for CS for SB 1766, 2nd Eng.
Barcode 335362
1 provisions of chapter 311 and special acts, if any, pertaining
2 to a port. The use of funds provided pursuant to this
3 subsection is limited to eligible projects listed in this
4 subsection. The provisions of s. 311.07(4) do not apply to any
5 funds received pursuant to this subsection. The revenues
6 available under this subsection shall not be pledged to the
7 payment of any bonds other than the Florida Ports Financing
8 Commission Series 1996 and Series 1999 Bonds currently
9 outstanding; provided, however, such revenues may be pledged
10 to secure payment of refunding bonds to refinance the Florida
11 Ports Financing Commission Series 1996 and Series 1999 Bonds.
12 No refunding bonds secured by revenues available under this
13 subsection may be issued with a final maturity later than the
14 final maturity of the Florida Ports Financing Commission
15 Series 1996 and Series 1999 Bonds or which provide for higher
16 debt service in any year than is currently payable on such
17 bonds. Any revenue bonds or other indebtedness issued after
18 July 1, 2000, including other than refunding bonds, shall be
19 issued by the Division of Bond Finance at the request of the
20 Department of Transportation pursuant to the State Bond Act.
21 This provision shall expire on June 30, 2037, but shall
22 continue until all bonds are paid from the Florida Ports
23 Financing Commission Series 1996 Bonds or any subsequent
24 refunding bond issue that shall not extend the term of the
25 Series 1996 Bonds, or new bonds issued that shall have a term
26 no later than 2037.
27 (5) Notwithstanding any other provision of law except
28 subsections (1), (2), (3), and (4), on July 1, 2006, and
29 annually thereafter, $5 million shall be deposited in the
30 State Transportation Trust Fund solely for the purposes of
31 funding the Florida Seaport Transportation and Economic
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Florida Senate - 2006 SENATOR AMENDMENT
Bill No. CS for CS for SB 1766, 2nd Eng.
Barcode 335362
1 Development Program as provided in chapter 311 and for funding
2 seaport intermodal access projects of statewide significance
3 as provided in s. 341.053. Such revenues shall be distributed
4 to any port listed in s. 311.09(1), to be used for funding
5 projects as follows:
6 (a) For any seaport intermodal access projects that
7 are identified in the Tentative Work Program of the Department
8 of Transportation for the 2006-2007 to 2010-2011 fiscal years,
9 up to the amounts needed to offset the funding requirements of
10 this section.
11 (b) For seaport intermodal access projects as
12 described in s. 341.053(5) which are identified in the 5-year
13 Florida Seaport Mission Plan as provided in s. 311.09(3),
14 funding shall require at least a 25-percent match of the funds
15 received pursuant to this subsection. Matching funds shall
16 come from any port funds, federal funds, local funds, or
17 private funds.
18 (c) For seaport projects as described in s.
19 311.07(3)(b), funds shall be provided on a 50-50 matching
20 basis.
21 (d) For seaport intermodal access projects that
22 involve the dredging or deepening of channels, turning basins,
23 or harbors, or the construction or rehabilitation of wharves,
24 docks, or similar structures, funding shall require at least a
25 25-percent match of the funds received pursuant to this
26 subsection. Matching funds shall come from any port funds,
27 federal funds, local funds, or private funds.
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29 Such revenues may be assigned, pledged, or set aside as a
30 trust for the payment of principal or interest on bonds, tax
31 anticipation certificates, or any other form of indebtedness
6
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Florida Senate - 2006 SENATOR AMENDMENT
Bill No. CS for CS for SB 1766, 2nd Eng.
Barcode 335362
1 issued by the Division of Bond Finance at the request of the
2 Department of Transportation pursuant to the State Bond Act.
3 However, such debt does not constitute a general obligation of
4 the state. This state covenants with holders of such revenue
5 bonds or other instruments of indebtedness issued under this
6 subsection that it will not repeal or impair or amend this
7 subsection in any manner that will materially and adversely
8 affect the rights of holders so long as bonds authorized by
9 this subsection are outstanding. Any revenues that are not
10 pledged to the repayment of bonds as authorized by this
11 subsection may be used for purposes authorized under the
12 Florida Seaport Transportation and Economic Development
13 Program. This revenue source is in addition to any amounts
14 provided for and appropriated in accordance with s. 311.07 and
15 subsections (3) and (4). The Florida Seaport Transportation
16 and Economic Development Council shall submit to the
17 Department of Transportation a list of strategic
18 transportation, economic development, and freight mobility
19 projects that contribute to the economic growth of the state
20 and that have been approved pursuant to s. 311.09(5)-(9), or
21 that have been approved for seaport intermodal access projects
22 identified in the 5-year Florida Seaport Mission Plan as
23 provided in s. 311.09(3). The Department of Transportation
24 shall approve the prioritization
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