CS/CS/HB 251

1	A bill to be entitled
2	An act relating to regional transportation facilities;
3	creating part V of chapter 343, F.S.; creating s. 343.90,
4	F.S.; providing a short title; creating s. 343.91, F.S.;
5	providing definitions; creating s. 343.92, F.S.; creating
6	the Tampa Bay Area Regional Transportation Authority,
7	comprising Citrus, Hernando, Hillsborough, Manatee, Pasco,
8	Pinellas, and Sarasota Counties; providing for
9	organization and membership; providing for reimbursement
10	of travel expenses and per diem; requiring members to
11	comply with specified financial disclosure provisions;
12	providing for employees and advisory committees; creating
13	s. 343.922, F.S.; specifying purposes of the authority;
14	providing for rights, powers, and duties of the authority;
15	authorizing the authority to construct, operate, and
16	maintain certain multimodal transportation systems;
17	authorizing the authority to collect fares and tolls on
18	its transportation facilities; requiring the authority to
19	develop and adopt a regional multimodal transportation
20	master plan by a date certain; providing for content,
21	updates, and use of the plan; authorizing the authority to
22	request funding and technical assistance; authorizing the
23	authority to borrow money, enter into partnerships and
24	other agreements, enter into and make lease-purchase
25	agreements, and make contracts for certain purposes;
26	specifying that the authority does not have power to
27	pledge the credit or taxing power of the state; creating
28	s. 343.94, F.S.; providing legislative approval of bond
29	financing by the authority for its projects; providing for
30	issuance of the bonds by the authority or the Division of
31	Bond Finance; providing for contract with bondholders;
32	authorizing the authority to employ fiscal agents;
33	authorizing the State Board of Administration to act as
34	fiscal agent; creating s. 343.941, F.S.; providing that
35	the authority's bonds are not debts or pledges of faith
36	and credit of the state; creating s. 343.943, F.S.;
37	providing a state covenant with bondholders; creating s.
38	343.944, F.S.; providing certain rights and remedies for
39	bondholders; creating s. 343.945, F.S.; providing for
40	enforcement by bondholders of pledges to the authority
41	from the department; creating s. 343.946, F.S.; providing
42	for lease-purchase agreements between the authority and
43	the department; creating s. 343.947, F.S.; providing for
44	the department to act as an agent for the authority for
45	the purposes of constructing and completing the
46	authority's projects; creating s. 343.95, F.S.; providing
47	for the authority to purchase property and property
48	rights; creating s. 343.96, F.S.; providing for the
49	authority to enter into cooperative agreements with other
50	entities and persons; creating s. 343.962, F.S.; providing
51	for the authority to enter into certain public-private
52	agreements under certain conditions; providing procedures
53	for proposals for public-private multimodal transportation
54	projects; authorizing the public-private entity to impose
55	certain tolls or fares for use of the systems; providing
56	criteria for the constructed systems; authorizing the
57	authority to use certain powers to facilitate project
58	development, construction, and operation; providing intent
59	relating to governmental entities; authorizing the
60	authority to adopt certain rules and establish an
61	application fee; creating s. 343.97, F.S.; exempting the
62	authority from certain taxation; creating s. 343.973,
63	F.S.; specifying that bonds or other obligations issued by
64	the authority are legal investments constituting
65	securities for certain purposes; creating s. 343.975,
66	F.S.; providing for application and effect of specified
67	provisions; providing an effective date.
68
69	Be It Enacted by the Legislature of the State of Florida:
70
71	Section 1.  Part V of chapter 343, Florida Statutes,
72	consisting of sections 343.90, 343.91, 343.92, 343.922, 343.94,
73	343.941, 343.943, 343.944, 343.945, 343.946, 343.947, 343.95,
74	343.96, 343.962, 343.97, 343.973, and 343.975, is created to
75	read:
76	343.90  Short title.--This part may be cited as the "Tampa
77	Bay Area Regional Transportation Authority Act."
78	343.91  Definitions.--
79	(1)  The following terms, whenever used or referred to in
80	this part, shall have the following meanings, except in those
81	instances where the context clearly indicates otherwise:
82	(a)  "Authority" means the Tampa Bay Area Regional
83	Transportation Authority, the body politic and corporate and
84	agency of the state created by this part, covering the seven-
85	county area comprised of Citrus, Hernando, Hillsborough,
86	Manatee, Pasco, Pinellas, and Sarasota Counties.
87	(b)  "Board" means the governing body of the authority.
88	(c)  "Bonds" means the notes, bonds, refunding bonds, or
89	other evidences of indebtedness or obligations, in either
90	temporary or definitive form, which the authority is authorized
91	to issue under this part.
92	(d)1.  "Bus rapid transit" means a type of limited-stop bus
93	service that relies on technology to help expedite service
94	through priority for transit, rapid and convenient fare
95	collection, and integration with land use to substantially
96	upgrade performance of buses operating on exclusive, high-
97	occupancy-vehicle lanes, expressways, or ordinary streets.
98	2.  "Express bus" means a type of bus service designed to
99	expedite longer trips, especially in major metropolitan areas
100	during heavily patronized peak commuting hours, by operating
101	over long distances without stopping on freeways or partially
102	controlled access roadway facilities.
103	(e)1.  "Commuter rail" means a complete system of tracks,
104	guideways, stations, and rolling stock necessary to effectuate
105	medium-distance to long-distance passenger rail service to,
106	from, or within the municipalities within the authority's
107	designated seven-county region.
108	2.  "Heavy rail transit" means a complete rail system
109	operating on an electric railway with the capacity for a heavy
110	volume of traffic, characterized by high-speed and rapid-
111	acceleration passenger rail cars operating singly or in multicar
112	trains on fixed rails in separate rights-of-way from which all
113	other vehicular and pedestrian traffic are excluded. "Heavy rail
114	transit" includes metro, subway, elevated, rapid transit, and
115	rapid rail systems.
116	3.  "Light rail transit" means a complete system of tracks,
117	overhead catenaries, stations, and platforms with lightweight
118	passenger rail cars operating singly or in short, multicar
119	trains on fixed rails in rights-of-way that are not separated
120	from other traffic for much of the way.
121	(f)  "Consultation" means that one party confers with
122	another identified party in accordance with an established
123	process and, prior to taking action, considers that party's
124	views and periodically informs that party about actions taken.
125	(g)  "Department" means the Department of Transportation.
126	(h)  "Lease-purchase agreement" means a lease-purchase
127	agreement that the authority is authorized under this part to
128	enter into with the department.
129	(i)  "Limited access expressway" or "expressway" means a
130	street or highway especially designed for through traffic and
131	over, from, or to which a person does not have the right of
132	easement, use, or access except in accordance with the rules
133	adopted and established by the authority for the use of such
134	facility.
135	(j)  "Members" means the individuals constituting the
136	governing body of the authority.
137	(k)  "Multimodal transportation system" means a well-
138	connected network of transportation modes reflecting a high
139	level of accessibility between modes and proximity to supportive
140	land use patterns.
141	(l)  "Park-and-ride lot" means a transit station stop or a
142	carpool or vanpool waiting area to which patrons may drive
143	private vehicles for parking before gaining access to transit,
144	commuter rail, or heavy rail systems or taking carpool or
145	vanpool vehicles to their destinations.
146	(m)  "State Board of Administration" means the body
147	corporate existing under the provisions of s. 9, Art. XII of the
148	State Constitution, or any successor thereto.
149	(n)  "Transit-oriented development" means a mixed-use
150	residential or commercial area designed to maximize access to
151	public transportation and often incorporates features to
152	encourage transit ridership. A transit-oriented development
153	neighborhood typically has a center with a train station, tram
154	stop, or bus station surrounded by relatively high-density
155	development with progressively lower density development
156	spreading outward from the center, typically within 1/2 mile of
157	the stop or station.
158	(o)  "Transit station" means a public transportation
159	passenger facility that is accessible either at street level or
160	on above-grade platforms and often surrounded by pedestrian-
161	friendly, higher density development or park-and-ride lots.
162	(2)  Terms importing singular number include the plural
163	number in each case and vice versa, and terms importing persons
164	include firms and corporations.
165	343.92  Tampa Bay Area Regional Transportation Authority.--
166	(1)  There is created and established a body politic and
167	corporate, an agency of the state, to be known as the Tampa Bay
168	Area Regional Transportation Authority, hereinafter referred to
169	as the authority.
170	(2)  The governing board of the authority shall consist of
171	16 members.
172	(a)  There shall be one nonvoting, ex officio member of the
173	board who shall be appointed by the secretary of the department,
174	but who must be the district secretary for one of the department
175	districts within the seven-county area of the authority, at the
176	discretion of the secretary of the department.
177	(b)  There shall be 15 voting members of the board as
178	follows:
179	1.  The county commissions of Citrus, Hernando,
180	Hillsborough, Manatee, Pasco, Pinellas, and Sarasota Counties
181	shall each appoint one elected official to the board. Members
182	appointed under this subparagraph shall serve 2-year terms with
183	not more than three consecutive terms being served by any
184	person. If a member under this subparagraph leaves elected
185	office, a vacancy exists on the board to be filled as provided
186	in this subparagraph.
187	2.  The West Central Florida M.P.O. Chairs Coordinating
188	Committee shall appoint one member to the board who must be a
189	chair of one of the six metropolitan planning organizations in
190	the region. The member appointed under this subparagraph shall
191	serve a 2-year term with not more than three consecutive terms
192	being served by any person.
193	3.a.  Two members of the board shall be the mayor, or the
194	mayor's designee, of the largest municipality within the service
195	area of each of the following independent transit agencies or
196	their legislatively created successor agencies: Pinellas
197	Suncoast Transit Authority and Hillsborough Area Regional
198	Transit Authority. The largest municipality is that municipality
199	with the largest population as determined by the most recent
200	United States Decennial Census.
201	b.  If a mayor chooses not to serve, his or her designee
202	must be an elected official selected by the mayor from that
203	largest municipality's city council or city commission. A mayor
204	or his or her designee shall serve a 2-year term with not more
205	than three consecutive terms being served by any person.
206	c.  A designee's term ends if the mayor leaves office for
207	any reason. If a designee leaves elected office on the city
208	council or commission, a vacancy exists on the board to be
209	filled by the mayor of that municipality as provided in sub-
210	subparagraph a.
211	d.  A mayor who has served three consecutive terms on the
212	board must designate an elected official from that largest
213	municipality's city council or city commission to serve on the
214	board for at least one term.
215	4.a.  One membership on the board shall rotate every 2
216	years between the mayor, or his or her designee, of the largest
217	municipality within Manatee County and the mayor, or his or her
218	designee, of the largest municipality within Sarasota County.
219	The mayor, or his or her designee, from the largest municipality
220	within Manatee County shall serve the first 2-year term. The
221	largest municipality is that municipality with the largest
222	population as determined by the most recent United States
223	Decennial Census.
224	b.  If a mayor chooses not to serve, his or her designee
225	must be an elected official selected by the mayor from that
226	municipality's city council or city commission.
227	5.  The Governor shall appoint to the board four business
228	representatives who each reside in any of the seven counties
229	governed by the authority and who are not elected officials, at
230	least one but not more than two of whom shall represent counties
231	within the federally designated Tampa Bay Transportation
232	Management Area. Members appointed by the Governor shall serve
233	3-year terms with not more than two consecutive terms being
234	served by any person.
235	(c)  Appointments may be staggered to avoid mass turnover
236	at the end of any 2-year or 4-year period. A vacancy during a
237	term shall be filled by the respective appointing authority
238	within 90 days in the same manner as the original appointment
239	and only for the remainder of the unexpired term.
240	(3)  The members of the board shall serve without
241	compensation but shall be entitled to receive from the authority
242	reimbursement for travel expenses and per diem actually incurred
243	in connection with the business of the authority as provided in
244	s. 112.061.
245	(4)  Members of the board shall comply with the applicable
246	financial disclosure requirements of ss. 112.3145, 112.3148, and
247	112.3149.
248	(5)  The Governor shall appoint the initial chair from
249	among the full membership of the board immediately upon their
250	being appointed by the member governments or organizations named
251	in subsection (2). In no case shall those appointments be made
252	any later than 45 days following the effective date of this act.
253	The initial chair shall hold this position for a minimum term of
254	2 years. During its inaugural meeting, the board shall elect
255	from among its members a vice chair and secretary-treasurer who
256	shall serve a minimum term of 1 year each. During its inaugural
257	meeting, the board shall also establish the duties and powers of
258	the vice chair and secretary-treasurer and establish its rules
259	of conduct and meeting procedures.
260	(6)  At the end of the initial chair's term, the board
261	shall elect a chair from among its members. The chair shall hold
262	office at the will of the board. In that election, the board
263	shall also elect from among its members a vice chair and
264	secretary-treasurer.
265	(7)  The first meeting of the authority shall be held no
266	later than 60 days after the effective date of this act, by
267	which time all of the counties and the West Central Florida
268	M.P.O. Chairs Coordinating Committee must have appointed their
269	appropriate representatives.
270	(8)  Eight members of the board shall constitute a quorum,
271	and the vote of eight members shall be necessary for any action
272	to be taken by the authority. The authority may meet upon the
273	constitution of a quorum. No vacancy shall impair the right of a
274	quorum of the board to exercise all rights and perform all
275	duties of the authority.
276	(9)  The board may establish committees for the following
277	areas:
278	(a)  Planning.
279	(b)  Policy.
280	(c)  Finance.
281	(10)  The authority may employ an executive director, an
282	executive secretary, its own legal counsel and legal staff,
283	technical experts, engineers, and such employees, permanent or
284	temporary, as it may require. The authority shall determine the
285	qualifications and fix the compensation of such persons, firms,
286	or corporations and may employ a fiscal agent or agents;
287	however, the authority shall solicit sealed proposals from at
288	least three persons, firms, or corporations for the performance
289	of any services as fiscal agents. The authority may delegate its
290	power, except for duties specified in chapter 120, to one or
291	more of its agents or employees to carry out the purposes of
292	this part, subject always to the supervision and control of the
293	authority.
294	(11)(a)  The authority shall establish a Transit Management
295	Committee comprised of the executive directors or general
296	managers, or their designees, of each of the existing transit
297	providers and Bay Area commuter services.
298	(b)  The authority shall establish a Citizens Advisory
299	Committee comprised of appointed citizen committee members from
300	each county and transit provider in the region, not to exceed 16
301	members.
302	(c)  The authority may establish technical advisory
303	committees to provide guidance and advice on regional
304	transportation issues. The authority shall establish the size,
305	composition, and focus of any technical advisory committee
306	created.
307	(d)  Persons appointed to a committee shall serve without
308	compensation but may be entitled to per diem or travel expenses
309	as provided in s. 112.061.
310	343.922  Powers and duties.--
311	(1)  The express purposes of the authority are to improve
312	mobility and expand multimodal transportation options for
313	passengers and freight throughout the seven-county Bay Area
314	region.
315	(2)(a)  The authority has the right to plan, develop,
316	finance, construct, own, purchase, operate, maintain, relocate,
317	equip, repair, and manage those public transportation projects,
318	such as express bus services; bus rapid transit services; light
319	rail, commuter rail, heavy rail, or other transit services;
320	ferry services; transit stations; park-and-ride lots; transit-
321	oriented development nodes; or feeder roads, reliever roads,
322	connector roads, bypasses, or appurtenant facilities, that are
323	intended to address critical transportation needs or concerns in
324	the Bay Area region as identified by the authority by July 1,
325	2009. These projects may also include all necessary approaches,
326	roads, bridges, and avenues of access that are desirable and
327	proper with the concurrence of the department, as applicable, if
328	the project is to be part of the State Highway System.
329	(b)  Any transportation facilities constructed by the
330	authority may be tolled. The authority shall not toll existing
331	transportation facilities. Fare payment methods for public
332	transportation projects shall promote seamless integration
333	between regional and local transit systems. Tolling technologies
334	shall be consistent with the systems used by the Florida
335	Turnpike Enterprise for the purpose of allowing the use of a
336	single transponder or a similar electronic tolling device for
337	all facilities of the authority and the Florida Turnpike
338	Enterprise.
339	(c)  The authority shall coordinate and consult with local
340	governments on transit or commuter rail station area plans that
341	provide for compact, mixed-use, transit-oriented development
342	that will support transit investments and provide a variety of
343	workforce housing choices, recognizing the need for housing
344	alternatives for a variety of income ranges.
345	(3)(a)  No later than July 1, 2009, the authority shall
346	develop and adopt a regional transportation master plan that
347	provides a vision for a regionally integrated multimodal
348	transportation system. The goals and objectives of the master
349	plan are to identify areas of the Bay Area region where
350	multimodal mobility, traffic safety, freight mobility, and
351	efficient emergency evacuation alternatives need to be improved;
352	identify areas of the region where multimodal transportation
353	systems would be most beneficial to enhance mobility and
354	economic development; develop methods of building partnerships
355	with local governments, existing transit providers, expressway
356	authorities, seaports, airports, and other local, state, and
357	federal entities; and develop methods of building partnerships
358	with CSX Corporation and CSX Transportation, Inc., to craft
359	mutually beneficial solutions to achieve the authority's
360	objectives, and with other private-sector business community
361	entities that may further the authority's mission, and engage
362	the public in support of regional multimodal transportation
363	improvements. The master plan shall identify and may prioritize
364	projects that will accomplish these goals and objectives,
365	including, without limitation, the creation of express bus and
366	bus rapid transit services, light rail, commuter rail, and heavy
367	rail transit services, ferry services, freight services, and any
368	other multimodal transportation system projects that address
369	critical transportation needs or concerns, pursuant to
370	subsection (2), and shall identify the costs of the proposed
371	projects and revenue sources that could be used to pay those
372	costs. In developing the master plan, the authority shall review
373	and coordinate with the future land use, capital improvements,
374	and traffic circulation elements of its member local
375	governments' comprehensive plans and the plans, programs, and
376	schedules of other units of government with transit or
377	transportation authority within whose jurisdictions the projects
378	or improvements will be located to define and resolve potential
379	inconsistencies between such plans and the authority's
380	developing master plan. By July 1, 2008, the authority, working
381	with its member local governments, shall adopt a mandatory
382	conflict resolution process that addresses consistency conflicts
383	between the authority's regional transportation master plan and
384	local government comprehensive plans.
385	(b)  The authority shall consult with the department to
386	further the goals and objectives of the Strategic Regional
387	Transit Needs Assessment completed by the department.
388	(c)  Prior to the final adoption of the regional
389	transportation master plan, the authority shall hold at least
390	one public meeting in each of the seven counties within the
391	authority's region. At least one public hearing must take place
392	before the authority's board.
393	(d)  After its adoption, the master plan shall be updated
394	every 2 years before July 1.
395	(e)  The authority shall present the original master plan
396	and updates to the governing bodies of the counties within the
397	seven-county region, to the West Central Florida M.P.O. Chairs
398	Coordinating Committee, and to the legislative delegation
399	members representing those counties within 90 days after
400	adoption.
401	(f)  The authority shall coordinate plans and projects with
402	the West Central Florida M.P.O. Chairs Coordinating Committee,
403	to the extent practicable, and participate in the regional
404	M.P.O. planning process to ensure regional comprehension of the
405	authority's mission, goals, and objectives.
406	(4)  The authority may undertake projects or other
407	improvements in the master plan in phases as particular projects
408	or segments become feasible, as determined by the authority. The
409	authority shall coordinate project planning, development, and
410	implementation with the applicable local governments. The
411	authority's projects that are transportation oriented shall be
412	consistent with the adopted local government comprehensive plans
413	at the time they are funded for construction. Authority projects
414	that are not transportation oriented and meet the definition of
415	development pursuant to s. 380.04 shall be consistent with the
416	local comprehensive plans. In carrying out its purposes and
417	powers, the authority may request funding and technical
418	assistance from the department and appropriate federal and local
419	agencies, including, but not limited to, state infrastructure
420	bank loans, advances from the Toll Facilities Revolving Trust
421	Fund, and funding and technical assistance from any other
422	source.
423	(5)  The authority is granted and may exercise all powers
424	necessary, appurtenant, convenient, or incidental to the
425	carrying out of the aforesaid purposes, including, but not
426	limited to, the following rights and powers:
427	(a)  To sue and be sued, implead and be impleaded, and
428	complain and defend in all courts in its own name.
429	(b)  To adopt and use a corporate seal.
430	(c)  To have the power of eminent domain, including the
431	procedural powers granted under chapters 73 and 74.
432	(d)  To acquire by donation or otherwise, purchase, hold,
433	construct, maintain, improve, operate, own, lease as a lessee,
434	and use any franchise or property, real, personal, or mixed,
435	tangible or intangible, or any option thereof in its own name or
436	in conjunction with others, or any interest therein, necessary
437	or desirable for carrying out the purposes of the authority.
438	(e)  To sell, convey, exchange, lease as a lessor,
439	transfer, or otherwise dispose of any real or personal property,
440	or interest therein, acquired by the authority, including air
441	rights.
442	(f)  To fix, alter, establish, and collect rates, fares,
443	fees, rentals, tolls, and other charges for the services and use
444	of any light rail, commuter rail, heavy rail, bus rapid transit,
445	or express bus services, ferry services, highways, feeder roads,
446	bridges, or other transportation facilities owned or operated by
447	the authority. These rates, fares, fees, rentals, tolls, and
448	other charges must always be sufficient to comply with any
449	covenants made with the holders of any bonds issued pursuant to
450	this part; however, such right and power may be assigned or
451	delegated by the authority to the department.
452	(g)  To borrow money and to make and issue negotiable
453	notes, bonds, refunding bonds, and other evidences of
454	indebtedness or obligations, either in temporary or definitive
455	form, hereinafter in this chapter sometimes called "revenue
456	bonds" of the authority, for the purpose of financing all or
457	part of the mobility improvements within the Bay Area region, as
458	well as the appurtenant facilities, including all approaches,
459	streets, roads, bridges, and avenues of access authorized by
460	this part, the bonds to mature not exceeding 40 years after the
461	date of the issuance thereof, and to secure the payment of such
462	bonds or any part thereof by a pledge of any or all of its
463	revenues, rates, fees, rentals, or other charges.
464	(h)  To adopt bylaws for the regulation of the affairs and
465	the conduct of the business of the authority. The bylaws shall
466	provide for quorum and voting requirements, maintenance of
467	minutes and other official records, and preparation and adoption
468	of an annual budget.
469	(i)  To lease, rent, or contract for the operation or
470	management of any part of a transportation system facility built
471	by the authority. In awarding any contract, the authority shall
472	consider, but is not limited to, the following:
473	1.  The qualifications of each applicant.
474	2.  The level or quality of service.
475	3.  The efficiency, cost, and anticipated revenue.
476	4.  The construction, operation, and management plan.
477	5.  The financial ability to provide reliable service.
478	6.  The impact on other transportation modes, including the
479	ability to interface with other transportation modes and
480	facilities.
481	(j)  To enforce collection of rates, fees, tolls, and
482	charges and to establish and enforce fines and penalties for
483	violations of any rules.
484	(k)  To advertise, market, and promote regional transit
485	services and facilities, freight mobility plans and projects,
486	and the general activities of the authority.
487	(l)  To cooperate with other governmental entities and to
488	contract with other governmental agencies, including the Federal
489	Government, the department, counties, transit authorities or
490	agencies, municipalities, and expressway and bridge authorities.
491	(m)  To enter into joint development agreements,
492	partnerships, and other agreements with public and private
493	entities respecting ownership and revenue participation in order
494	to facilitate financing and constructing any project or portions
495	thereof.
496	(n)  To accept grants and other funds from other
497	governmental sources and to accept private donations. However,
498	the authority shall not be directly eligible for Transportation
499	Regional Incentive Program funds allocated pursuant to s.
500	339.2819, except through interlocal agreement with an eligible
501	recipient.
502	(o)  To purchase directly from local, national, or
503	international insurance companies liability insurance that the
504	authority is contractually and legally obligated to provide,
505	notwithstanding the requirements of s. 287.022(1).
506	(p)  To enter into and make lease-purchase agreements with
507	the department for terms not exceeding 40 years or until any
508	bonds secured by a pledge of rentals thereunder, and any
509	refundings thereof, are fully paid as to both principal and
510	interest, whichever is longer.
511	(q)  To make contracts of every name and nature, including,
512	but not limited to, partnerships providing for participation in
513	ownership and revenues, and to execute all instruments necessary
514	or convenient for the carrying on of its business.
515	(r)  To do all acts and things necessary or convenient for
516	the conduct of its business and the general welfare of the
517	authority in order to carry out the powers granted to it by this
518	part or any other law.
519	(6)  The authority shall institute procedures to ensure
520	that jobs created as a result of state funding pursuant to this
521	section shall be subject to equal opportunity hiring practices
522	as provided for in s. 110.112.
523	(7)  The authority shall comply with all statutory
524	requirements of general application which relate to the filing
525	of any report or documentation required by law, including the
526	requirements of ss. 189.4085, 189.415, 189.417, and 189.418.
527	(8)  The authority does not have power at any time or in
528	any manner to pledge the credit or taxing power of the state or
529	any political subdivision or agency thereof, nor shall any of
530	the authority's obligations be deemed to be obligations of the
531	state or of any political subdivision or agency thereof, nor
532	shall the state or any political subdivision or agency thereof,
533	except the authority, be liable for the payment of the principal
534	of or interest on such obligations.
535	343.94  Bond financing authority.--
536	(1)  Pursuant to s. 11(f), Art. VII of the State
537	Constitution, the Legislature approves bond financing by the
538	Tampa Bay Area Regional Transportation Authority for
539	construction of or improvements to commuter rail systems,
540	transit systems, ferry systems, highways, bridges, toll
541	collection facilities, interchanges to the system, and any other
542	transportation facility appurtenant, necessary, or incidental to
543	the system. Subject to terms and conditions of applicable
544	revenue bond resolutions and covenants, such costs may be
545	financed in whole or in part by revenue bonds issued pursuant to
546	paragraph (2)(a) or paragraph (2)(b), whether currently issued
547	or issued in the future or by a combination of such bonds.
548	(2)(a)  Bonds may be issued on behalf of the authority
549	pursuant to the State Bond Act.
550	(b)  Alternatively, the authority may issue its own bonds
551	pursuant to this part at such times and in such principal amount
552	as, in the opinion of the authority, is necessary to provide
553	sufficient moneys for achieving its purposes; however, such
554	bonds may not pledge the full faith and credit of the state.
555	Bonds issued by the authority pursuant to this paragraph or
556	paragraph (a), whether on original issuance or on refunding,
557	shall be authorized by resolution of the members thereof, may be
558	either term or serial bonds, and shall bear such date or dates,
559	mature at such time or times, not exceeding 40 years after their
560	respective dates, bear interest at such rate or rates, be
561	payable semiannually, be in such denominations, be in such form,
562	either coupon or fully registered, carry such registration,
563	exchangeability, and interchangeability privileges, be payable
564	in such medium of payment and at such place or places, be
565	subject to such terms of redemption, and be entitled to such
566	priorities on the revenues, rates, fees, rentals, or other
567	charges or receipts of the authority, including revenues from
568	lease-purchase agreements, as such resolution or any resolution
569	subsequent thereto may provide. The bonds shall be executed
570	either by manual or facsimile signature by such officers as the
571	authority shall determine; however, such bonds shall bear at
572	least one signature that is manually executed thereon, and the
573	coupons attached to such bonds shall bear the facsimile
574	signature or signatures of such officer or officers as shall be
575	designated by the authority and have the seal of the authority
576	affixed, imprinted, reproduced, or lithographed thereon, all as
577	may be prescribed in such resolution or resolutions.
578	(c)  Bonds issued pursuant to paragraph (a) or paragraph
579	(b) shall be sold at public sale in the manner provided by the
580	State Bond Act. However, if the authority, by official action at
581	a public meeting, determines that a negotiated sale of such
582	bonds is in the best interest of the authority, the authority
583	may negotiate the sale of such bonds with the underwriter
584	designated by the authority and the Division of Bond Finance
585	within the State Board of Administration with respect to bonds
586	issued pursuant to paragraph (a) or solely by the authority with
587	respect to bonds issued pursuant to paragraph (b). The
588	authority's determination to negotiate the sale of such bonds
589	may be based, in part, upon the written advice of the
590	authority's financial adviser. Pending the preparation of
591	definitive bonds, interim certificates may be issued to the
592	purchaser or purchasers of such bonds and may contain such terms
593	and conditions as the authority may determine.
594	(d)  The authority may issue bonds pursuant to paragraph
595	(b) to refund any bonds previously issued regardless of whether
596	the bonds being refunded were issued by the authority pursuant
597	to this chapter or on behalf of the authority pursuant to the
598	State Bond Act.
599	(3)  Any such resolution or resolutions authorizing any
600	bonds hereunder may contain provisions that are part of the
601	contract with the holders of such bonds, as to:
602	(a)  The pledging of all or any part of the revenues,
603	fares, rates, fees, rentals, or other charges or receipts of the
604	authority, derived by the authority.
605	(b)  The completion, improvement, operation, extension,
606	maintenance, repair, or lease of, or lease-purchase agreement
607	relating to, the system and the duties of the authority and
608	others, including the department, with reference thereto.
609	(c)  Limitations on the purposes to which the proceeds of
610	the bonds, then or thereafter to be issued, or of any loan or
611	grant by the United States or the state may be applied.
612	(d)  The fixing, charging, establishing, and collecting of
613	rates, fees, rentals, or other charges for use of the services
614	and facilities constructed by the authority.
615	(e)  The setting aside of reserves or sinking funds or
616	repair and replacement funds and the regulation and disposition
617	thereof.
618	(f)  Limitations on the issuance of additional bonds.
619	(g)  The terms and provisions of any lease-purchase
620	agreement, deed of trust, or indenture securing the bonds or
621	under which the same may be issued.
622	(h)  Any other or additional agreements with the holders of
623	the bonds which the authority may deem desirable and proper.
624	(4)  The authority may employ fiscal agents as provided by
625	this part or the State Board of Administration may, upon request
626	of the authority, act as fiscal agent for the authority in the
627	issuance of any bonds that are issued pursuant to this part, and
628	the State Board of Administration may, upon request of the
629	authority, take over the management, control, administration,
630	custody, and payment of any or all debt services or funds or
631	assets now or hereafter available for any bonds issued pursuant
632	to this part. The authority may enter into any deeds of trust,
633	indentures, or other agreements with its fiscal agent, or with
634	any bank or trust company within or without the state, as
635	security for such bonds and may, under such agreements, sign and
636	pledge all or any of the revenues, rates, fees, rentals, or
637	other charges or receipts of the authority. Such deed of trust,
638	indenture, or other agreement may contain such provisions as are
639	customary in such instruments or as the authority authorizes,
640	including, but without limitation, provisions as to:
641	(a)  The completion, improvement, operation, extension,
642	maintenance, repair, and lease of, or lease-purchase agreement
643	relating to, highway, bridge, and related transportation
644	facilities and appurtenances and the duties of the authority and
645	others, including the department, with reference thereto.
646	(b)  The application of funds and the safeguarding of funds
647	on hand or on deposit.
648	(c)  The rights and remedies of the trustee and the holders
649	of the bonds.
650	(d)  The terms and provisions of the bonds or the
651	resolutions authorizing the issuance of the bonds.
652	(5)  Any of the bonds issued pursuant to this part are, and
653	are hereby declared to be, negotiable instruments and have all
654	the qualities and incidents of negotiable instruments under the
655	law merchant and the negotiable instruments law of the state.
656	(6)  Notwithstanding any of the provisions of this part,
657	each project, building, or facility that has been financed by
658	the issuance of bonds or other evidence of indebtedness under
659	this part and any refinancing thereof are hereby approved as
660	provided for in s. 11(f), Art. VII of the State Constitution.
661	343.941  Bonds not debts or pledges of faith and credit of
662	state.--Revenue bonds issued under the provisions of this part
663	are not debts of the state or pledges of the faith and credit of
664	the state. Such bonds are payable exclusively from revenues
665	pledged for their payment. Each such bond shall contain a
666	statement on its face that the state is not obligated to pay the
667	same or the interest thereon, except from the revenues pledged
668	for its payment, and that the faith and credit of the state is
669	not pledged to the payment of the principal or interest of such
670	bond. The issuance of revenue bonds under the provisions of this
671	part does not directly, indirectly, or contingently obligate the
672	state to levy or to pledge any form of taxation whatsoever, or
673	to make any appropriation for their payment. No state funds
674	shall be used to pay the principal or interest of any bonds
675	issued to finance or refinance any portion of the authority's
676	transportation projects, and each such bond shall contain a
677	statement on its face to this effect.
678	343.943  Covenant of the state.--The state does hereby
679	pledge to, and agrees with, any person, firm, or corporation or
680	federal or state agency subscribing to or acquiring the bonds to
681	be issued by the authority for the purposes of this part that
682	the state will not limit or alter the rights hereby vested in
683	the authority and the department until all bonds at any time
684	issued, together with the interest thereon, are fully paid and
685	discharged insofar as the same affects the rights of the holders
686	of bonds issued hereunder. The state does further pledge to, and
687	agree with, the United States that, if any federal agency
688	constructs or contributes any funds for the completion,
689	extension, or improvement of the system or any part or portion
690	thereof, the state will not alter or limit the rights and powers
691	of the authority and the department in any manner that would be
692	inconsistent with the continued maintenance and operation of the
693	system or the completion, extension, or improvement thereof or
694	that would be inconsistent with the due performance of any
695	agreements between the authority and any such federal agency.
696	The authority and the department shall continue to have and may
697	exercise all powers herein granted so long as necessary or
698	desirable for the carrying out of the purposes of this part and
699	the purposes of the United States in the completion, extension,
700	or improvement of the system or any part or portion thereof.
701	343.944  Remedies of the bondholders.--
702	(1)  The rights and the remedies in this section conferred
703	upon or granted to the bondholders are in addition to and not in
704	limitation of any rights and remedies lawfully granted to such
705	bondholders by the resolution or resolutions providing for the
706	issuance of bonds or by a lease-purchase agreement, deed of
707	trust, indenture, or other agreement under which the bonds may
708	be issued or secured. If the authority defaults in the payment
709	of the principal of or interest on any of the bonds issued
710	pursuant to the provisions of this part after such principal of
711	or interest on the bonds becomes due, whether at maturity or
712	upon call for redemption, or the department defaults in any
713	payments under, or covenants made in, any lease-purchase
714	agreement between the authority and the department, and such
715	default continues for a period of 30 days, or if the authority
716	or the department fails or refuses to comply with the provisions
717	of this part or any agreement made with, or for the benefit of,
718	the holders of the bonds, the holders of 25 percent in aggregate
719	principal amount of the bonds then outstanding may appoint a
720	trustee to represent such bondholders for the purposes hereof,
721	if such holders of 25 percent in aggregate principal amount of
722	the bonds then outstanding shall first give notice of their
723	intention to appoint a trustee to the authority and to the
724	department. Such notice shall be deemed to have been given if
725	given in writing, deposited in a securely sealed postpaid
726	wrapper, mailed at a regularly maintained United States post
727	office box or station, and addressed, respectively, to the chair
728	of the authority and to the secretary of the department at the
729	principal office of the department.
730	(2)  Such trustee and any trustee under any deed of trust,
731	indenture, or other agreement may and, upon written request of
732	the holders of 25 percent or such other percentages as are
733	specified in any deed of trust, indenture, or other agreement
734	aforesaid in principal amount of the bonds then outstanding,
735	shall, in any court of competent jurisdiction, in his, her, or
736	its own name:
737	(a)  By mandamus or other suit, action, or proceeding at
738	law or in equity, enforce all rights of the bondholders,
739	including the right to require the authority to fix, establish,
740	maintain, collect, and charge rates, fees, rentals, and other
741	charges adequate to carry out any agreement as to or pledge of
742	the revenues or receipts of the authority, to carry out any
743	other covenants and agreements with or for the benefit of the
744	bondholders, and to perform its and their duties under this
745	part.
746	(b)  By mandamus or other suit, action, or proceeding at
747	law or in equity, enforce all rights of the bondholders under or
748	pursuant to any lease-purchase agreement between the authority
749	and the department, including the right to require the
750	department to make all rental payments required to be made by it
751	under the provisions of any such lease-purchase agreement and to
752	require the department to carry out any other covenants and
753	agreements with or for the benefit of the bondholders and to
754	perform its and their duties under this part.
755	(c)  Bring suit upon the bonds.
756	(d)  By action or suit in equity, require the authority or
757	the department to account as if it were the trustee of an
758	express trust for the bondholders.
759	(e)  By action or suit in equity, enjoin any acts or things
760	that may be unlawful or in violation of the rights of the
761	bondholders.
762	(3)  Any trustee, when appointed as aforesaid or acting
763	under a deed of trust, indenture, or other agreement, and
764	regardless of whether all bonds have been declared due and
765	payable, may appoint a receiver who may enter upon and take
766	possession of the system or the facilities or any part or parts
767	thereof, the rates, fees, rentals, or other revenues, charges,
768	or receipts from which are or may be applicable to the payment
769	of the bonds so in default, and, subject to and in compliance
770	with the provisions of any lease-purchase agreement between the
771	authority and the department, operate and maintain the same for
772	and on behalf of and in the name of the authority, the
773	department, and the bondholders, and collect and receive all
774	rates, fees, rentals, and other charges or receipts or revenues
775	arising therefrom in the same manner as the authority or the
776	department might do, and shall deposit all such moneys in a
777	separate account and apply such moneys in such manner as the
778	court shall direct. In any suit, action, or proceeding by the
779	trustee, the fees, counsel fees, and expenses of the trustee and
780	the receiver, if any, and all costs and disbursements allowed by
781	the court shall be a first charge on any rates, fees, rentals,
782	or other charges, revenues, or receipts derived from the system
783	or the facilities or services or any part or parts thereof,
784	including payments under any such lease-purchase agreement as
785	aforesaid, which rates, fees, rentals, or other charges,
786	revenues, or receipts may be applicable to the payment of the
787	bonds so in default. Such trustee, in addition to the foregoing,
788	possesses all of the powers necessary for the exercise of any
789	functions specifically set forth herein or incident to the
790	representation of the bondholders in the enforcement and
791	protection of their rights.
792	(4)  This section or any other section of this part does
793	not authorize any receiver appointed pursuant hereto for the
794	purpose, subject to and in compliance with the provisions of any
795	lease-purchase agreement between the authority and the
796	department, of operating and maintaining the system or any
797	facilities or part or parts thereof to sell, assign, mortgage,
798	or otherwise dispose of any of the assets of whatever kind and
799	character belonging to the authority. It is the intention of
800	this part to limit the powers of such receiver, subject to and
801	in compliance with the provisions of any lease-purchase
802	agreement between the authority and the department, to the
803	operation and maintenance of the system or any facility or part
804	or parts thereof, as the court may direct, in the name of and
805	for and on behalf of the authority, the department, and the
806	bondholders. In any suit, action, or proceeding at law or in
807	equity, a holder of bonds on the authority, a trustee, or any
808	court may not compel or direct a receiver to sell, assign,
809	mortgage, or otherwise dispose of any assets of whatever kind or
810	character belonging to the authority. A receiver also may not be
811	authorized to sell, assign, mortgage, or otherwise dispose of
812	any assets of whatever kind or character belonging to the
813	authority in any suit, action, or proceeding at law or in
814	equity.
815	343.945  Pledges enforceable by bondholders.--It is the
816	express intention of this part that any pledge to the authority
817	by the department of rates, fees, revenues, or other funds as
818	rentals, or any covenants or agreements relative thereto, is
819	enforceable in any court of competent jurisdiction against the
820	authority or directly against the department by any holder of
821	bonds issued by the authority.
822	343.946  Lease-purchase agreement.--
823	(1)  In order to effectuate the purposes of this part and
824	as authorized by this part, the authority may enter into a
825	lease-purchase agreement with the department relating to and
826	covering authority projects within the seven-county Bay Area
827	region.
828	(2)  Such lease-purchase agreement shall provide for the
829	leasing of the system by the authority, as lessor, to the
830	department, as lessee, shall prescribe the term of such lease
831	and the rentals to be paid thereunder, and shall provide that,
832	upon the completion of the faithful performance thereunder and
833	the termination of such lease-purchase agreement, title in fee
834	simple absolute to the system as then constituted shall be
835	transferred in accordance with law by the authority to the state
836	and the authority shall deliver to the department such deeds and
837	conveyances as shall be necessary or convenient to vest title in
838	fee simple absolute in the state.
839	(3)  Such lease-purchase agreement may include such other
840	provisions, agreements, and covenants as the authority and the
841	department deem advisable or required, including, but not
842	limited to, provisions as to the bonds to be issued for the
843	purposes of this part, the completion, extension, improvement,
844	operation, and maintenance of the system and the expenses and
845	the cost of operation of the authority, the charging and
846	collection of tolls, rates, fees, and other charges for the use
847	of the services and facilities thereof, and the application of
848	federal or state grants or aid which may be made or given to
849	assist the authority in the completion, extension, improvement,
850	operation, and maintenance of the system.
851	(4)  The department as lessee under such lease-purchase
852	agreement may pay as rentals thereunder any rates, fees,
853	charges, funds, moneys, receipts, or income accruing to the
854	department from the operation of the system and may also pay as
855	rentals any appropriations received by the department pursuant
856	to any act of the Legislature heretofore or hereafter enacted;
857	however, nothing in this section or in such lease-purchase
858	agreement is intended to require, nor shall this part or such
859	lease-purchase agreement require, the making or continuance of
860	such appropriations, nor shall any holder of bonds issued
861	pursuant to this part ever have any right to compel the making
862	or continuance of such appropriations.
863	(5)  The department shall have power to covenant in any
864	lease-purchase agreement that it will pay all or any part of the
865	cost of the operation, maintenance, repair, renewal, and
866	replacement of facilities, and any part of the cost of
867	completing facilities to the extent that the proceeds of bonds
868	issued are insufficient, from sources other than the revenues
869	derived from the operation of the system.
870	343.947  Department may be appointed agent of authority for
871	construction.--The department may be appointed by the authority
872	as its agent for the purpose of constructing and completing
873	transportation projects, and improvements and extensions
874	thereto, in the authority's master plan. In such event, the
875	authority shall provide the department with complete copies of
876	all documents, agreements, resolutions, contracts, and
877	instruments relating thereto; shall request the department to do
878	such construction work, including the planning, surveying, and
879	actual construction of the completion, extensions, and
880	improvements to the system; and shall transfer to the credit of
881	an account of the department in the treasury of the state the
882	necessary funds therefor. The department shall proceed with such
883	construction and use the funds for such purpose in the same
884	manner that it is now authorized to use the funds otherwise
885	provided by law for its use in construction of commuter rail
886	systems, transit systems, ferry systems, roads, bridges, and
887	related transportation facilities.
888	343.95  Acquisition of lands and property.--
889	(1)  For the purposes of this part, the authority may
890	acquire private or public property and property rights,
891	including rights of access, air, view, and light, by gift,
892	devise, purchase, or condemnation by eminent domain proceedings,
893	as the authority may deem necessary for any purpose of this
894	part, including, but not limited to, any lands reasonably
895	necessary for securing applicable permits, areas necessary for
896	management of access, borrow pits, drainage ditches, water
897	retention areas, rest areas, replacement access for landowners
898	whose access is impaired due to the construction of a facility,
899	and replacement rights-of-way for relocated rail and utility
900	facilities; for existing, proposed, or anticipated
901	transportation facilities within the seven-county Bay Area
902	region identified by the authority; or for the purposes of
903	screening, relocation, removal, or disposal of junkyards and
904	scrap metal processing facilities. The authority may condemn any
905	material and property necessary for such purposes.
906	(2)  The right of eminent domain herein conferred shall be
907	exercised by the authority in the manner provided by law.
908	(3)  When the authority acquires property for a
909	transportation facility within the seven-county Bay Area region,
910	the authority is not subject to any liability imposed by chapter
911	376 or chapter 403 for preexisting soil or groundwater
912	contamination due solely to its ownership. This subsection does
913	not affect the rights or liabilities of any past or future
914	owners of the acquired property, nor does it affect the
915	liability of any governmental entity for the results of its
916	actions which create or exacerbate a pollution source. The
917	authority and the Department of Environmental Protection may
918	enter into interagency agreements for the performance, funding,
919	and reimbursement of the investigative and remedial acts
920	necessary for property acquired by the authority.
921	343.96  Cooperation with other units, boards, agencies, and
922	individuals.--Express authority and power is hereby given and
923	granted to any county, municipality, drainage district, road and
924	bridge district, school district, or any other political
925	subdivision, board, commission, or individual in or of the state
926	to make and enter into contracts, leases, conveyances,
927	partnerships, or other agreements with the authority within the
928	provisions and purposes of this part. The authority may make and
929	enter into contracts, leases, conveyances, partnerships, and
930	other agreements with any political subdivision, agency, or
931	instrumentality of the state and any and all federal agencies,
932	corporations, and individuals for the purpose of carrying out
933	the provisions of this part.
934	343.962  Public-private partnerships.--
935	(1)  The authority may receive or solicit proposals and
936	enter into agreements with private entities or consortia thereof
937	for the building, operation, ownership, or financing of
938	multimodal transportation systems, transit-oriented development
939	nodes, transit stations, or related facilities within the
940	jurisdiction of the authority. Before approval, the authority
941	must determine that a proposed project:
942	(a)  Is in the public's best interest.
943	(b)  Would not require state funds to be used unless the
944	project is on or provides increased mobility on the State
945	Highway System.
946	(c)  Would have adequate safeguards to ensure that
947	additional costs or unreasonable service disruptions would not
948	be realized by the traveling public and citizens of the state in
949	the event of default or the cancellation of the agreement by the
950	authority.
951	(2)  The authority shall ensure that all reasonable costs
952	to the state related to transportation facilities that are not
953	part of the State Highway System are borne by the private entity
954	or any partnership created to develop the facilities. The
955	authority shall also ensure that all reasonable costs to the
956	state and substantially affected local governments and utilities
957	related to the private transportation facility are borne by the
958	private entity for transportation facilities that are owned by
959	private entities. For projects on the State Highway System or
960	that provide increased mobility on the State Highway System, the
961	department may use state resources to participate in funding and
962	financing the project as provided for under the department's
963	enabling legislation.
964	(3)  The authority may request proposals and receive
965	unsolicited proposals for public-private multimodal
966	transportation projects, and, upon receipt of any unsolicited
967	proposal or determination to issue a request for proposals, the
968	authority must publish a notice in the Florida Administrative
969	Weekly and a newspaper of general circulation in the county in
970	which the proposed project is located at least once a week for 2
971	weeks requesting proposals or, if an unsolicited proposal was
972	received, stating that it has received the proposal and will
973	accept, for 60 days after the initial date of publication, other
974	proposals for the same project purpose. A copy of the notice
975	must be mailed to each local government in the affected areas.
976	After the public notification period has expired, the authority
977	shall rank the proposals in order of preference. In ranking the
978	proposals, the authority shall consider professional
979	qualifications, general business terms, innovative engineering
980	or cost-reduction terms, finance plans, and the need for state
981	funds to deliver the proposal. If the authority is not satisfied
982	with the results of the negotiations, it may, at its sole
983	discretion, terminate negotiations with the proposer. If these
984	negotiations are unsuccessful, the authority may go to the
985	second and lower ranked firms, in order, using the same
986	procedure. If only one proposal is received, the authority may
987	negotiate in good faith and, if it is not satisfied with the
988	results, it may, at its sole discretion, terminate negotiations
989	with the proposer. Notwithstanding this subsection, the
990	authority may, at its discretion, reject all proposals at any
991	point in the process up to completion of a contract with the
992	proposer.
993	(4)  Agreements entered into pursuant to this section may
994	authorize the public-private entity to impose tolls or fares for
995	the use of the facility. However, the amount and use of toll or
996	fare revenues shall be regulated by the authority to avoid
997	unreasonable costs to users of the facility.
998	(5)  Each public-private transportation facility
999	constructed pursuant to this section shall comply with all
1000	requirements of federal, state, and local laws; state, regional,
1001	and local comprehensive plans; the authority's rules, policies,
1002	procedures, and standards for transportation facilities; and any
1003	other conditions that the authority determines to be in the
1004	public's best interest.
1005	(6)  The authority may exercise any of its powers,
1006	including eminent domain, to facilitate the development and
1007	construction of multimodal transportation projects pursuant to
1008	this section. The authority may pay all or part of the cost of
1009	operating and maintaining the facility or may provide services
1010	to the private entity, for which services it shall receive full
1011	or partial reimbursement.
1012	(7)  Except as provided in this section, this section is
1013	not intended to amend existing law by granting additional powers
1014	to or imposing further restrictions on the governmental entities
1015	with regard to regulating and entering into cooperative
1016	arrangements with the private sector for the planning,
1017	construction, and operation of transportation facilities.
1018	(8)  The authority may adopt rules pursuant to ss.
1019	120.536(1) and 120.54 to implement this section and shall, by
1020	rule, establish an application fee for the submission of
1021	unsolicited proposals under this section. The fee must be
1022	sufficient to pay the costs of evaluating the proposals.
1023	343.97  Exemption from taxation.--The effectuation of the
1024	authorized purposes of the authority created under this part is
1025	for the benefit of the people of this state, for the increase of
1026	their commerce and prosperity, and for the improvement of their
1027	health and living conditions and, because the authority performs
1028	essential governmental functions in effectuating such purposes,
1029	the authority is not required to pay any taxes or assessments of
1030	any kind or nature whatsoever upon any property acquired or used
1031	by it for such purposes, or upon any rates, fees, rentals,
1032	receipts, income, or charges at any time received by it. The
1033	bonds issued by the authority, their transfer, and the income
1034	therefrom, including any profits made on the sale thereof, shall
1035	at all times be free from taxation of any kind by the state or
1036	by any political subdivision, taxing agency, or instrumentality
1037	thereof. The exemption granted by this section does not apply to
1038	any tax imposed by chapter 220 on interest, income, or profits
1039	on debt obligations owned by corporations.
1040	343.973  Eligibility for investments and security.--Any
1041	bonds or other obligations issued pursuant to this part shall be
1042	and constitute legal investments for banks, savings banks,
1043	trustees, executors, administrators, and all other fiduciaries
1044	and for all state, municipal, and other public funds and shall
1045	also be and constitute securities eligible for deposit as
1046	security for all state, municipal, or other public funds,
1047	notwithstanding the provisions of any other law to the contrary.
1048	343.975  Complete and additional statutory authority.--
1049	(1)  The powers conferred by this part are supplemental to
1050	the existing powers of the board and the department. This part
1051	does not repeal any of the provisions of any other law, general,
1052	special, or local, but supplements such other laws in the
1053	exercise of the powers provided in this part and provides a
1054	complete method for the exercise of the powers granted in this
1055	part. The projects planned and constructed by the Tampa Bay Area
1056	Regional Transportation Authority shall comply with all
1057	applicable federal, state, and local laws. The extension and
1058	improvement of the system, and the issuance of bonds hereunder
1059	to finance all or part of the cost thereof, may be accomplished
1060	upon compliance with the provisions of this part without regard
1061	to or necessity for compliance with the provisions, limitations,
1062	or restrictions contained in any other general, special, or
1063	local law, including, but not limited to, s. 215.821. An
1064	approval of any bonds issued under this part by the qualified
1065	electors or qualified electors who are freeholders in the state
1066	or in any other political subdivision of the state is not
1067	required for the issuance of such bonds pursuant to this part.
1068	(2)  This part does not repeal, rescind, or modify any
1069	other law relating to the State Board of Administration, the
1070	Department of Transportation, the Tampa-Hillsborough County
1071	Expressway Authority, or the Division of Bond Finance within the
1072	State Board of Administration; however, this part supersedes
1073	such other laws as are inconsistent with its provisions,
1074	including, but not limited to, s. 215.821.
1075	(3)  This part does not preclude the department from
1076	acquiring, holding, constructing, improving, maintaining,
1077	operating, or owning tolled or nontolled facilities funded and
1078	constructed from nonauthority sources that are part of the State
1079	Highway System within the geographical boundaries of the Tampa
1080	Bay Area Regional Transportation Authority.
1081	Section 2.  Nothing in this act shall prohibit any member
1082	local government from participating in or creating any other
1083	transit authority, regional transportation authority, or
1084	expressway authority.
1085	Section 3.  This act shall take effect July 1, 2007.

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