Senate Bill sb0506c1

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    Florida Senate - 2007                            CS for SB 506

    By the Committee on Transportation; and Senator Fasano





    596-1974-07

  1                      A bill to be entitled

  2         An act relating to regional transportation

  3         facilities; creating part V of chapter 343,

  4         F.S., the Tampa Bay Regional Transportation

  5         Authority act; creating s. 343.90, F.S.;

  6         creating s. 343.91, F.S.; providing

  7         definitions; creating s. 343.92, F.S.; creating

  8         the Tampa Bay Regional Transportation

  9         Authority, comprising Citrus, Hernando,

10         Hillsborough, Manatee, Pasco, Pinellas, and

11         Sarasota Counties; providing for organization

12         and membership; providing for reimbursement of

13         travel expenses and per diem; requiring members

14         to comply with specified financial disclosure

15         provisions; providing for employees and

16         advisory committees; creating s. 343.922, F.S.;

17         specifying purposes of the authority; providing

18         for rights, powers, and duties of the

19         authority; authorizing the authority to

20         construct, operate, and maintain certain

21         multimodal transportation systems; authorizing

22         the authority to collect fares and tolls on its

23         transportation facilities; requiring the

24         authority to develop and adopt a regional

25         multimodal transportation master plan by a date

26         certain; providing for content, updates, and

27         use of the plan; authorizing the authority to

28         request funding and technical assistance;

29         authorizing the authority to borrow money,

30         enter into partnerships and other agreements,

31         enter into and make lease-purchase agreements,

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 1         and make contracts for certain purposes;

 2         specifying that the authority does not have

 3         power to pledge the credit or taxing power of

 4         the state; creating s. 343.94, F.S.; providing

 5         legislative approval of bond financing by the

 6         authority for its projects; providing for

 7         issuance of the bonds by the authority or the

 8         Division of Bond Finance; providing for

 9         contract with bondholders; authorizing the

10         authority to employ fiscal agents; authorizing

11         the State Board of Administration to act as

12         fiscal agent; creating s. 343.941, F.S.;

13         providing that the authority's bonds are not

14         debts or pledges of faith and credit of the

15         state; creating s. 343.943, F.S.; providing a

16         state covenant with bondholders; creating s.

17         343.944, F.S.; providing certain rights and

18         remedies for bondholders; creating s. 343.945,

19         F.S.; providing for enforcement by bondholders

20         of pledges to the authority from the

21         department; creating s. 343.946, F.S.;

22         providing for lease-purchase agreements between

23         the authority and the department; creating s.

24         343.947, F.S.; providing for the department to

25         act as an agent for the authority for the

26         purposes of constructing and completing the

27         authority's projects; creating s. 343.95, F.S.;

28         providing for the authority to purchase

29         property and property rights; creating s.

30         343.96, F.S.; providing for the authority to

31         enter into cooperative agreements with other

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    Florida Senate - 2007                            CS for SB 506
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 1         entities and persons; creating s. 343.962,

 2         F.S.; providing for the authority to enter into

 3         certain public-private agreements under certain

 4         conditions; providing procedures for proposals

 5         for public-private multimodal transportation

 6         projects; authorizing the public-private entity

 7         to impose certain tolls or fares for use of the

 8         systems; providing criteria for the constructed

 9         systems; authorizing the authority to use

10         certain powers to facilitate project

11         development, construction, and operation;

12         providing intent relating to governmental

13         entities; authorizing the authority to adopt

14         certain rules and establish an application fee;

15         creating s. 343.97, F.S.; exempting the

16         authority from certain taxation; creating s.

17         343.973, F.S.; specifying that bonds or other

18         obligations issued by the authority are legal

19         investments constituting securities for certain

20         purposes; creating s. 343.975, F.S.; providing

21         for application, effect, or supersession of

22         specified provisions; providing an effective

23         date.

24  

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

26  

27         Section 1.  Part V of chapter 343, Florida Statutes,

28  consisting of sections 343.90, 343.91, 343.92, 343.922,

29  343.94, 343.941, 343.943, 343.944, 343.945, 343.946, 343.947,

30  343.95, 343.96, 343.962, 343.97, 343.973, and 343.975, is

31  created to read:

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    Florida Senate - 2007                            CS for SB 506
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 1         343.90  Short title.--This part may be cited as the

 2  "Tampa Bay Regional Transportation Authority Act."

 3         343.91  Definitions.--

 4         (1)  As used in this part, the term:

 5         (a)  "Authority" means the Tampa Bay Regional

 6  Transportation Authority, the body politic and corporate and

 7  agency of the state created by this part, covering the

 8  seven-county area comprised of Citrus, Hernando, Hillsborough,

 9  Pasco, Pinellas, Manatee, and Sarasota Counties.

10         (b)  "Board" means the governing body of the authority.

11         (c)  "Bonds" means the notes, bonds, refunding bonds,

12  or other evidences of indebtedness or obligations, in either

13  temporary or definitive form, which the authority is

14  authorized to issue under this part.

15         (d)1.  "Bus rapid transit" means a type of limited-stop

16  bus service that relies on technology to help expedite service

17  through priority for transit, rapid and convenient fare

18  collection, and integration with land use to substantially

19  upgrade performance of buses operating on exclusive,

20  high-occupancy-vehicle lanes, expressways, or ordinary

21  streets.

22         2.  "Express bus" means a type of bus service designed

23  to expedite longer trips, especially in major metropolitan

24  areas during heavily patronized peak commuting hours, by

25  operating over long distances without stopping on freeways or

26  partially controlled access roadway facilities.

27         (e)1.  "Commuter rail" means a complete system of

28  tracks, guideways, stations, and rolling stock necessary to

29  effectuate medium-distance to long-distance passenger rail

30  service to, from, or within the municipalities within the

31  authority's designated seven-county region.

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    Florida Senate - 2007                            CS for SB 506
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 1         2.  "Heavy rail transit" means a complete rail system

 2  operating on an electric railway with the capacity for a heavy

 3  volume of traffic, characterized by high-speed and

 4  rapid-acceleration passenger rail cars operating singly or in

 5  multicar trains on fixed rails in separate rights-of-way from

 6  which all other vehicular and pedestrian traffic are excluded.

 7  "Heavy rail transit" includes metro, subway, elevated, rapid

 8  transit, and rapid rail systems.

 9         3.  "Light rail transit" means a complete system of

10  tracks, overhead catenaries, stations, and platforms with

11  lightweight passenger rail cars operating singly or in short,

12  multicar trains on fixed rails in rights-of-way that are not

13  separated from other traffic for much of the way.

14         (f)  "Consultation" means that one party confers with

15  another identified party in accordance with an established

16  process and, prior to taking action, considers that party's

17  views and periodically informs that party about actions taken.

18         (g)  "Coordination" means the comparison of the

19  transportation plans, programs, and schedules of one agency

20  with related plans, programs, and schedules of other agencies

21  or entities with legal standing and adjustment of plans,

22  programs, and schedules to achieve general consistency to the

23  extent practicable.

24         (h)  "Department" means the Florida Department of

25  Transportation.

26         (i)  "Lease-purchase agreement" means a lease-purchase

27  agreement that the authority is authorized under this part to

28  enter into with the department.

29         (j)  "Limited access expressway" or "expressway" means

30  a street or highway especially designed for through traffic

31  and over, from, or to which a person does not have the right

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    Florida Senate - 2007                            CS for SB 506
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 1  of easement, use, or access except in accordance with the

 2  rules adopted and established by the authority for the use of

 3  such facility.

 4         (k)  "Members" means the individuals constituting the

 5  governing body of the authority.

 6         (l)  "Multimodal transportation system" means a

 7  well-connected network of transportation modes reflecting a

 8  high level of accessibility between modes and proximity to

 9  supportive land use patterns.

10         (m)  "Park-and-ride lot" means a transit station stop

11  or a carpool or vanpool waiting area to which patrons may

12  drive private vehicles for parking before gaining access to

13  transit, commuter rail, or heavy rail systems or taking

14  carpool or vanpool vehicles to their destinations.

15         (n)  "State Board of Administration" means the body

16  corporate existing under the provisions of s. 9, Art. XII of

17  the State Constitution, or any successor thereto.

18         (o)  "Transit-oriented development" means a mixed-use

19  residential or commercial area designed to maximize access to

20  public transportation and often incorporates features to

21  encourage transit ridership. A transit-oriented development

22  neighborhood typically has a center with a train station, tram

23  stop, or bus station surrounded by relatively high-density

24  development with progressively lower-density development

25  spreading outward from the center, typically within 1/2 mile

26  of the stop or station.

27         (p)  "Transit station" means a public transportation

28  passenger facility that is accessible either at street level

29  or on above-grade platforms and often surrounded by

30  pedestrian-friendly, higher-density development or

31  park-and-ride lots.

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    Florida Senate - 2007                            CS for SB 506
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 1         (2)  Terms importing singular number include the plural

 2  number in each case and vice versa, and terms importing

 3  persons include firms and corporations.

 4         343.92  Tampa Bay Regional Transportation Authority.--

 5         (1)  There is created and established a body politic

 6  and corporate, an agency of the state, to be known as the

 7  Tampa Bay Regional Transportation Authority.

 8         (2)  The governing board of the authority shall consist

 9  of 17 members.

10         (a)  There shall be two nonvoting, ex officio members

11  of the board who shall be appointed by the secretary of the

12  department but must be the district secretary, or his or her

13  designee, for each department district within the seven-county

14  area of the authority.

15         (b)  There shall be 15 voting members of the board as

16  follows:

17         1.  The county commissions of Citrus, Hernando,

18  Hillsborough, Pasco, Pinellas, Manatee, and Sarasota Counties

19  shall each appoint one elected official to the board. Members

20  appointed under this subparagraph shall serve 2-year terms

21  with not more than three consecutive terms being served by any

22  person. If a member under this subparagraph leaves elected

23  office, a vacancy exists on the board to be filled as provided

24  in this subparagraph.

25         2.  The West Central Florida M.P.O. Chairs Coordinating

26  Committee shall appoint one member to the board who must be a

27  chair of one of the six metropolitan planning organizations in

28  the region. The member appointed under this subparagraph shall

29  serve a 2-year term with not more than three consecutive terms

30  being served by any person.

31  

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 1         3.a.  Two members of the board shall be the mayor, or

 2  the mayor's designee, of the largest municipality within the

 3  service area of each of the following independent transit

 4  agencies or their legislatively created successor agencies:

 5  Pinellas Suncoast Transit Authority and Hillsborough Area

 6  Regional Transit Authority. The largest municipality is that

 7  municipality with the largest population as determined by the

 8  most recent United States Decennial Census.

 9         b.  Should a mayor choose not to serve, his or her

10  designee must be an elected official selected by the mayor

11  from that largest municipality's city council or city

12  commission. A mayor or his or her designee shall serve a

13  2-year term with not more than three consecutive terms being

14  served by any person.

15         c.  A designee's term ends if the mayor leaves office

16  for any reason. If a designee leaves elected office on the

17  city council or commission, a vacancy exists on the board to

18  be filled by the mayor of that municipality as provided in

19  sub-subparagraph a.

20         d.  A mayor who has served three consecutive terms on

21  the board must designate an elected official from that largest

22  municipality's city council or city commission to serve on the

23  board for at least one term.

24         4.a.  One membership on the board shall rotate every 2

25  years between the mayor, or his or her designee, of the

26  largest municipality within Manatee County and the mayor, or

27  his or her designee, of the largest municipality within

28  Sarasota County. The mayor, or his or her designee, from the

29  largest municipality within Manatee County shall serve the

30  first 2-year term. The largest municipality is that

31  

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    Florida Senate - 2007                            CS for SB 506
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 1  municipality with the largest population as determined by the

 2  most recent United States Decennial Census.

 3         b.  Should a mayor choose not to serve, his or her

 4  designee must be an elected official selected by the mayor

 5  from that municipality's city council or city commission.

 6         5.  The Governor shall appoint to the board four

 7  business representatives who are not elected officials, two of

 8  whom shall represent counties within the federally designated

 9  Tampa Bay Transportation Management Area. Members appointed by

10  the Governor shall serve 3-year terms with not more than two

11  consecutive terms being served by any person.

12         (c)  Appointments may be staggered to avoid mass

13  turnover at the end of any 2-year or 4-year period. A vacancy

14  during a term shall be filled by the respective appointing

15  authority within 90 days in the same manner as the original

16  appointment and only for the remainder of the unexpired term.

17         (3)  The members of the board shall serve without

18  compensation but shall be entitled to receive from the

19  authority reimbursement for travel expenses and per diem

20  actually incurred in connection with the business of the

21  authority as provided in s. 112.061.

22         (4)  Members of the board shall comply with the

23  applicable financial disclosure requirements of ss. 112.3145,

24  112.3148, and 112.3149.

25         (5)  The board shall appoint from among its members a

26  chair, a vice chair, and a secretary-treasurer, who shall each

27  serve a term of 1 year and who may be reappointed by the

28  board.

29         (6)  The board may establish committees for the

30  following areas:

31         (a)  Planning.

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 1         (b)  Policy.

 2         (c)  Finance.

 3         (7)  The authority may employ an executive director, an

 4  executive secretary, its own legal counsel and legal staff,

 5  technical experts, engineers, and such employees, permanent or

 6  temporary, as it may require. The authority shall determine

 7  the qualifications and fix the compensation of such persons,

 8  firms, or corporations and may employ a fiscal agent or

 9  agents; however, the authority shall solicit sealed proposals

10  from at least three persons, firms, or corporations for the

11  performance of any services as fiscal agents. The authority

12  may delegate, as it shall deem necessary, its power to one or

13  more of its agents or employees to carry out the purposes of

14  this part, subject always to the supervision and control of

15  the authority.

16         (8)(a)  The authority shall establish a Transit

17  Management Committee comprised of the executive directors or

18  general managers, or their designees, of each of the existing

19  transit providers and Tampa Bay area commuter services.

20         (b)  The authority shall establish a Citizens Advisory

21  Committee comprised of appointed citizen committee members

22  from each county and transit provider in the region, not to

23  exceed 16 members.

24         (c)  The authority may establish technical advisory

25  committees to provide guidance and advice on regional

26  transportation issues. The authority shall establish the size,

27  composition, and focus of any technical advisory committee

28  created.

29         (d)  Persons appointed to a committee shall serve

30  without compensation but may be entitled to per diem or travel

31  expenses as provided in s. 112.061.

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 1         343.922  Powers and duties.--

 2         (1)  The express purposes of the authority are to

 3  improve mobility and expand multimodal transportation options

 4  for passengers and freight throughout the seven-county Tampa

 5  Bay region.

 6         (2)(a)  The authority has the right to plan, develop,

 7  finance, construct, own, purchase, operate, maintain,

 8  relocate, equip, repair, and manage those public

 9  transportation projects, such as express bus services; bus

10  rapid transit services; light rail, commuter rail, heavy rail,

11  or other transit services; ferry services; transit stations;

12  park-and-ride lots; transit-oriented development nodes; or

13  feeder roads, reliever roads, connector roads, bypasses, or

14  appurtenant facilities, that are intended to address critical

15  transportation needs or concerns in the Tampa Bay region as

16  identified by the authority by July 1, 2009. These projects

17  may also include all necessary approaches, roads, bridges, and

18  avenues of access that are desirable and proper with the

19  concurrence of the department, as applicable, if the project

20  is to be part of the State Highway System.

21         (b)  Any transportation facilities constructed by the

22  authority may be tolled. Fare payment methods for public

23  transportation projects shall promote seamless integration

24  between regional and local transit systems. Tolling

25  technologies shall be consistent with the systems used by the

26  Florida Turnpike Enterprise for the purpose of allowing the

27  use of a single transponder or a similar electronic tolling

28  device for all facilities of the authority and the Florida

29  Turnpike Enterprise.

30         (c)  The authority shall coordinate and consult with

31  local governments on transit or commuter rail station area

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 1  plans that provide for compact, mixed-use, transit-oriented

 2  development that will support transit investments and provide

 3  a variety of workforce housing choices, recognizing the need

 4  for housing alternatives for a variety of income ranges.

 5         (3)(a)  No later than July 1, 2009, the authority shall

 6  develop and adopt a regional transportation master plan that

 7  provides a vision for a regionally integrated multimodal

 8  transportation system. The goals and objectives of the master

 9  plan are to identify areas of the Tampa Bay region where

10  multimodal mobility, traffic safety, freight mobility, and

11  efficient emergency evacuation alternatives need to be

12  improved; identify areas of the region where multimodal

13  transportation systems would be most beneficial to enhance

14  mobility and economic development; develop methods of building

15  partnerships with local governments, existing transit

16  providers, expressway authorities, seaports, airports, and

17  other local, state, and federal entities; develop methods of

18  building partnerships with CSX Corporation and CSX

19  Transportation, Inc., to craft mutually beneficial solutions

20  to achieve the authority's objectives, and with other

21  private-sector business community entities that may further

22  the authority's mission, and engage the public in support of

23  regional multimodal transportation improvements; identify

24  projects that will accomplish these goals and objectives,

25  including, without limitation, the creation of express bus and

26  bus rapid transit services, light rail, commuter rail, and

27  heavy rail transit services, ferry services, freight services,

28  and any other multimodal transportation system projects that

29  address critical transportation needs or concerns, pursuant to

30  subsection (2); and identify the costs of the proposed

31  projects and revenue sources that could be used to pay those

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 1  costs. The adoption of the master plan by the authority is not

 2  a rule subject to the rulemaking procedures of chapter 120.

 3         (b)  The authority shall consult with the department to

 4  further the goals and objectives of the Strategic Regional

 5  Transit Needs Assessment completed by the department.

 6         (c)  After its adoption, the master plan shall be

 7  updated every 2 years before July 1.

 8         (d)  The authority shall present the original master

 9  plan and updates to the governing bodies of the counties

10  within the seven-county region, to the West Central Florida

11  M.P.O. Chairs Coordinating Committee, and to the legislative

12  delegation members representing those counties within 90 days

13  after adoption.

14         (e)  The authority shall coordinate plans and projects

15  with the West Central Florida M.P.O. Chairs Coordinating

16  Committee, to the extent practicable, and participate in the

17  regional M.P.O. planning process to ensure regional

18  comprehension of the authority's mission, goals, and

19  objectives.

20         (4)  The authority may undertake projects or other

21  improvements in the master plan in phases as particular

22  projects or segments become feasible, as determined by the

23  authority.  The authority shall coordinate project planning,

24  development, and implementation with the applicable adopted

25  comprehensive plans of local governments within whose

26  jurisdictions the projects or improvements will be located to

27  define and resolve potential inconsistencies between plans. In

28  carrying out its purposes and powers, the authority may

29  request funding and technical assistance from the department

30  and appropriate federal and local agencies, including, but not

31  limited to, state infrastructure bank loans, advances from the

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 1  Toll Facilities Revolving Trust Fund, and funding and

 2  technical assistance from any other source.

 3         (5)  The authority is granted and may exercise all

 4  powers necessary, appurtenant, convenient, or incidental to

 5  the carrying out of the aforesaid purposes, including, but not

 6  limited to, the following rights and powers:

 7         (a)  To sue and be sued, implead and be impleaded, and

 8  complain and defend in all courts in its own name.

 9         (b)  To adopt and use a corporate seal.

10         (c)  To have the power of eminent domain, including the

11  procedural powers granted under chapters 73 and 74.

12         (d)  To acquire by donation or otherwise, purchase,

13  hold, construct, maintain, improve, operate, own, lease as a

14  lessee, and use any franchise or property, real, personal, or

15  mixed, tangible or intangible, or any option thereof in its

16  own name or in conjunction with others, or any interest

17  therein, necessary or desirable for carrying out the purposes

18  of the authority.

19         (e)  To sell, convey, exchange, lease as a lessor,

20  transfer, or otherwise dispose of any real or personal

21  property, or interest therein, acquired by the authority,

22  including air rights.

23         (f)  To fix, alter, establish, and collect rates,

24  fares, fees, rentals, tolls, and other charges for the

25  services and use of any light rail, commuter rail, heavy rail,

26  bus rapid transit, or express bus services, ferry services,

27  highways, feeder roads, bridges, or other transportation

28  facilities owned or operated by the authority. These rates,

29  fares, fees, rentals, tolls, and other charges shall always be

30  sufficient to comply with any covenants made with the holders

31  of any bonds issued pursuant to this part; however, such right

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 1  and power may be assigned or delegated by the authority to the

 2  department.

 3         (g)  To borrow money and to make and issue negotiable

 4  notes, bonds, refunding bonds, and other evidences of

 5  indebtedness or obligations, either in temporary or definitive

 6  form, hereinafter in this chapter sometimes called "revenue

 7  bonds" of the authority, for the purpose of financing all or

 8  part of the mobility improvements within the Tampa Bay region,

 9  as well as the appurtenant facilities, including all

10  approaches, streets, roads, bridges, and avenues of access

11  authorized by this part, the bonds to mature not exceeding 40

12  years after the date of the issuance thereof, and to secure

13  the payment of such bonds or any part thereof by a pledge of

14  any or all of its revenues, rates, fees, rentals, or other

15  charges.

16         (h)  To adopt bylaws for the regulation of the affairs

17  and the conduct of the business of the authority. The bylaws

18  shall provide for quorum and voting requirements, maintenance

19  of minutes and other official records, and preparation and

20  adoption of an annual budget.

21         (i)  To lease, rent, or contract for the operation or

22  management of any part of a transportation system facility

23  built by the authority. In awarding any contract, the

24  authority shall consider, but is not limited to, the

25  following:

26         1.  The qualifications of each applicant.

27         2.  The level or quality of service.

28         3.  The efficiency, cost, and anticipated revenue.

29         4.  The construction, operation, and management plan.

30         5.  The financial ability to provide reliable service.

31  

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 1         6.  The impact on other transportation modes, including

 2  the ability to interface with other transportation modes and

 3  facilities.

 4         (j)  To enforce collection of rates, fees, tolls, and

 5  charges and to establish and enforce fines and penalties for

 6  violations of any rules.

 7         (k)  To advertise, market, and promote regional transit

 8  services and facilities, freight mobility plans and projects,

 9  and the general activities of the authority.

10         (l)  To cooperate with other governmental entities and

11  to contract with other governmental agencies, including the

12  Federal Government, the department, counties, transit

13  authorities or agencies, municipalities, and expressway and

14  bridge authorities.

15         (m)  To enter into joint development agreements,

16  partnerships, and other agreements with public and private

17  entities respecting ownership and revenue participation in

18  order to facilitate financing and constructing any project or

19  portions thereof.

20         (n)  To accept grants and other funds from other

21  governmental sources and to accept private donations. However,

22  the authority shall not be directly eligible for

23  Transportation Regional Incentive Program funds allocated

24  pursuant to s. 339.2819, except through interlocal agreement

25  with an eligible recipient.

26         (o)  To purchase directly from local, national, or

27  international insurance companies liability insurance that the

28  authority is contractually and legally obligated to provide,

29  notwithstanding the requirements of s. 287.022(1).

30         (p)  To enter into and make lease-purchase agreements

31  with the department for terms not exceeding 40 years or until

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 1  any bonds secured by a pledge of rentals thereunder, and any

 2  refundings thereof, are fully paid as to both principal and

 3  interest, whichever is longer.

 4         (q)  To make contracts of every name and nature,

 5  including, but not limited to, partnerships providing for

 6  participation in ownership and revenues, and to execute all

 7  instruments necessary or convenient for the carrying on of its

 8  business.

 9         (r)  To do all acts and things necessary or convenient

10  for the conduct of its business and the general welfare of the

11  authority in order to carry out the powers granted to it by

12  this part or any other law.

13         (6)  The authority shall institute procedures to ensure

14  that jobs created as a result of state funding pursuant to

15  this section shall be subject to equal opportunity hiring

16  practices as provided for in s. 110.112.

17         (7)  The authority shall comply with all statutory

18  requirements of general application which relate to the filing

19  of any report or documentation required by law, including the

20  requirements of ss. 189.4085, 189.415, 189.417, and 189.418.

21         (8)  The authority does not have power at any time or

22  in any manner to pledge the credit or taxing power of the

23  state or any political subdivision or agency thereof, nor

24  shall any of the authority's obligations be deemed to be

25  obligations of the state or of any political subdivision or

26  agency thereof, nor shall the state or any political

27  subdivision or agency thereof, except the authority, be liable

28  for the payment of the principal of or interest on such

29  obligations.

30         343.94  Bond financing authority.--

31  

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 1         (1)  Pursuant to s. 11(f), Art. VII of the State

 2  Constitution, the Legislature approves bond financing by the

 3  Tampa Bay Regional Transportation Authority for construction

 4  of or improvements to commuter rail systems, transit systems,

 5  ferry systems, highways, bridges, toll collection facilities,

 6  interchanges to the system, and any other transportation

 7  facility appurtenant, necessary, or incidental to the system.

 8  Subject to terms and conditions of applicable revenue bond

 9  resolutions and covenants, such costs may be financed in whole

10  or in part by revenue bonds issued pursuant to paragraph

11  (2)(a) or paragraph (2)(b), whether currently issued or issued

12  in the future or by a combination of such bonds.

13         (2)(a)  Bonds may be issued on behalf of the authority

14  pursuant to the State Bond Act.

15         (b)  Alternatively, the authority may issue its own

16  bonds pursuant to this part at such times and in such

17  principal amount as, in the opinion of the authority, is

18  necessary to provide sufficient moneys for achieving its

19  purposes; however, such bonds may not pledge the full faith

20  and credit of the state. Bonds issued by the authority

21  pursuant to this paragraph or paragraph (a), whether on

22  original issuance or on refunding, shall be authorized by

23  resolution of the members thereof, may be either term or

24  serial bonds, and shall bear such date or dates, mature at

25  such time or times, not exceeding 40 years after their

26  respective dates, bear interest at such rate or rates, be

27  payable semiannually, be in such denominations, be in such

28  form, either coupon or fully registered, carry such

29  registration, exchangeability, and interchangeability

30  privileges, be payable in such medium of payment and at such

31  place or places, be subject to such terms of redemption, and

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 1  be entitled to such priorities on the revenues, rates, fees,

 2  rentals, or other charges or receipts of the authority,

 3  including revenues from lease-purchase agreements, as such

 4  resolution or any resolution subsequent thereto may provide.

 5  The bonds shall be executed either by manual or facsimile

 6  signature by such officers as the authority shall determine;

 7  however, such bonds shall bear at least one signature that is

 8  manually executed thereon, and the coupons attached to such

 9  bonds shall bear the facsimile signature or signatures of such

10  officer or officers as shall be designated by the authority

11  and have the seal of the authority affixed, imprinted,

12  reproduced, or lithographed thereon, all as may be prescribed

13  in such resolution or resolutions.

14         (c)  Bonds issued pursuant to paragraph (a) or

15  paragraph (b) shall be sold at public sale in the manner

16  provided by the State Bond Act. However, if the authority, by

17  official action at a public meeting, determines that a

18  negotiated sale of such bonds is in the best interest of the

19  authority, the authority may negotiate the sale of such bonds

20  with the underwriter designated by the authority and the

21  Division of Bond Finance within the State Board of

22  Administration with respect to bonds issued pursuant to

23  paragraph (a) or solely by the authority with respect to bonds

24  issued pursuant to paragraph (b). The authority's

25  determination to negotiate the sale of such bonds may be

26  based, in part, upon the written advice of the authority's

27  financial adviser. Pending the preparation of definitive

28  bonds, interim certificates may be issued to the purchaser or

29  purchasers of such bonds and may contain such terms and

30  conditions as the authority may determine.

31  

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 1         (d)  The authority may issue bonds pursuant to

 2  paragraph (b) to refund any bonds previously issued regardless

 3  of whether the bonds being refunded were issued by the

 4  authority pursuant to this chapter or on behalf of the

 5  authority pursuant to the State Bond Act.

 6         (3)  Any such resolution or resolutions authorizing any

 7  bonds hereunder may contain provisions that are part of the

 8  contract with the holders of such bonds, as to:

 9         (a)  The pledging of all or any part of the revenues,

10  fares, rates, fees, rentals, or other charges or receipts of

11  the authority, derived by the authority.

12         (b)  The completion, improvement, operation, extension,

13  maintenance, repair, or lease of, or lease-purchase agreement

14  relating to, the system and the duties of the authority and

15  others, including the department, with reference thereto.

16         (c)  Limitations on the purposes to which the proceeds

17  of the bonds, then or thereafter to be issued, or of any loan

18  or grant by the United States or the state may be applied.

19         (d)  The fixing, charging, establishing, and collecting

20  of rates, fees, rentals, or other charges for use of the

21  services and facilities constructed by the authority.

22         (e)  The setting aside of reserves or sinking funds or

23  repair and replacement funds and the regulation and

24  disposition thereof.

25         (f)  Limitations on the issuance of additional bonds.

26         (g)  The terms and provisions of any lease-purchase

27  agreement, deed of trust, or indenture securing the bonds or

28  under which the same may be issued.

29         (h)  Any other or additional agreements with the

30  holders of the bonds which the authority may deem desirable

31  and proper.

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 1         (4)  The authority may employ fiscal agents as provided

 2  by this part or the State Board of Administration may, upon

 3  request of the authority, act as fiscal agent for the

 4  authority in the issuance of any bonds that are issued

 5  pursuant to this part, and the State Board of Administration

 6  may, upon request of the authority, take over the management,

 7  control, administration, custody, and payment of any or all

 8  debt services or funds or assets now or hereafter available

 9  for any bonds issued pursuant to this part. The authority may

10  enter into any deeds of trust, indentures, or other agreements

11  with its fiscal agent, or with any bank or trust company

12  within or without the state, as security for such bonds and

13  may, under such agreements, sign and pledge all or any of the

14  revenues, rates, fees, rentals, or other charges or receipts

15  of the authority. Such deed of trust, indenture, or other

16  agreement may contain such provisions as are customary in such

17  instruments or as the authority authorizes, including, but

18  without limitation, provisions as to:

19         (a)  The completion, improvement, operation, extension,

20  maintenance, repair, and lease of, or lease-purchase agreement

21  relating to, highway, bridge, and related transportation

22  facilities and appurtenances and the duties of the authority

23  and others, including the department, with reference thereto.

24         (b)  The application of funds and the safeguarding of

25  funds on hand or on deposit.

26         (c)  The rights and remedies of the trustee and the

27  holders of the bonds.

28         (d)  The terms and provisions of the bonds or the

29  resolutions authorizing the issuance of the bonds.

30         (5)  Any of the bonds issued pursuant to this part are,

31  and are hereby declared to be, negotiable instruments and have

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 1  all the qualities and incidents of negotiable instruments

 2  under the law merchant and the negotiable instruments law of

 3  the state.

 4         (6)  Notwithstanding any of the provisions of this

 5  part, each project, building, or facility that has been

 6  financed by the issuance of bonds or other evidence of

 7  indebtedness under this part and any refinancing thereof are

 8  hereby approved as provided for in s. 11(f), Art. VII of the

 9  State Constitution.

10         343.941  Bonds not debts or pledges of faith and credit

11  of state.--Revenue bonds issued under the provisions of this

12  part are not debts of the state or pledges of the faith and

13  credit of the state. Such bonds are payable exclusively from

14  revenues pledged for their payment. Each such bond shall

15  contain a statement on its face that the state is not

16  obligated to pay the same or the interest thereon, except from

17  the revenues pledged for its payment, and that the faith and

18  credit of the state is not pledged to the payment of the

19  principal or interest of such bond. The issuance of revenue

20  bonds under the provisions of this part does not directly,

21  indirectly, or contingently obligate the state to levy or to

22  pledge any form of taxation whatsoever, or to make any

23  appropriation for their payment. No state funds shall be used

24  to pay the principal or interest of any bonds issued to

25  finance or refinance any portion of the authority's

26  transportation projects, and each such bond shall contain a

27  statement on its face to this effect.

28         343.943  Covenant of the state.--The state does hereby

29  pledge to, and agrees with, any person, firm, or corporation

30  or federal or state agency subscribing to or acquiring the

31  bonds to be issued by the authority for the purposes of this

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 1  part that the state will not limit or alter the rights hereby

 2  vested in the authority and the department until all bonds at

 3  any time issued, together with the interest thereon, are fully

 4  paid and discharged insofar as the same affects the rights of

 5  the holders of bonds issued hereunder. The state does further

 6  pledge to, and agree with, the United States that, if any

 7  federal agency constructs or contributes any funds for the

 8  completion, extension, or improvement of the system or any

 9  part or portion thereof, the state will not alter or limit the

10  rights and powers of the authority and the department in any

11  manner which would be inconsistent with the continued

12  maintenance and operation of the system or the completion,

13  extension, or improvement thereof or which would be

14  inconsistent with the due performance of any agreements

15  between the authority and any such federal agency. The

16  authority and the department shall continue to have and may

17  exercise all powers herein granted so long as necessary or

18  desirable for the carrying out of the purposes of this part

19  and the purposes of the United States in the completion,

20  extension, or improvement of the system or any part or portion

21  thereof.

22         343.944  Remedies of the bondholders.--

23         (1)  The rights and the remedies in this section

24  conferred upon or granted to the bondholders are in addition

25  to and not in limitation of any rights and remedies lawfully

26  granted to such bondholders by the resolution or resolutions

27  providing for the issuance of bonds or by a lease-purchase

28  agreement, deed of trust, indenture, or other agreement under

29  which the bonds may be issued or secured. If the authority

30  defaults in the payment of the principal of or interest on any

31  of the bonds issued pursuant to the provisions of this part

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 1  after such principal of or interest on the bonds becomes due,

 2  whether at maturity or upon call for redemption, or the

 3  department defaults in any payments under, or covenants made

 4  in, any lease-purchase agreement between the authority and the

 5  department, and such default continues for a period of 30

 6  days, or if the authority or the department fails or refuses

 7  to comply with the provisions of this part or any agreement

 8  made with, or for the benefit of, the holders of the bonds,

 9  the holders of 25 percent in aggregate principal amount of the

10  bonds then outstanding may appoint a trustee to represent such

11  bondholders for the purposes hereof, if such holders of 25

12  percent in aggregate principal amount of the bonds then

13  outstanding shall first give notice of their intention to

14  appoint a trustee to the authority and to the department. Such

15  notice shall be deemed to have been given if given in writing,

16  deposited in a securely sealed postpaid wrapper, mailed at a

17  regularly maintained United States post office box or station,

18  and addressed, respectively, to the chair of the authority and

19  to the secretary of the department at the principal office of

20  the department.

21         (2)  Such trustee and any trustee under any deed of

22  trust, indenture, or other agreement may and, upon written

23  request of the holders of 25 percent or such other percentages

24  as are specified in any deed of trust, indenture, or other

25  agreement aforesaid in principal amount of the bonds then

26  outstanding, shall, in any court of competent jurisdiction, in

27  his, her, or its own name:

28         (a)  By mandamus or other suit, action, or proceeding

29  at law or in equity, enforce all rights of the bondholders,

30  including the right to require the authority to fix,

31  establish, maintain, collect, and charge rates, fees, rentals,

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 1  and other charges adequate to carry out any agreement as to or

 2  pledge of the revenues or receipts of the authority, to carry

 3  out any other covenants and agreements with or for the benefit

 4  of the bondholders, and to perform its and their duties under

 5  this part.

 6         (b)  By mandamus or other suit, action, or proceeding

 7  at law or in equity, enforce all rights of the bondholders

 8  under or pursuant to any lease-purchase agreement between the

 9  authority and the department, including the right to require

10  the department to make all rental payments required to be made

11  by it under the provisions of any such lease-purchase

12  agreement and to require the department to carry out any other

13  covenants and agreements with or for the benefit of the

14  bondholders and to perform its and their duties under this

15  part.

16         (c)  Bring suit upon the bonds.

17         (d)  By action or suit in equity, require the authority

18  or the department to account as if it were the trustee of an

19  express trust for the bondholders.

20         (e)  By action or suit in equity, enjoin any acts or

21  things that may be unlawful or in violation of the rights of

22  the bondholders.

23         (3)  Any trustee, when appointed as aforesaid or acting

24  under a deed of trust, indenture, or other agreement, and

25  regardless of whether all bonds have been declared due and

26  payable, may appoint a receiver who may enter upon and take

27  possession of the system or the facilities or any part or

28  parts thereof, the rates, fees, rentals, or other revenues,

29  charges, or receipts from which are or may be applicable to

30  the payment of the bonds so in default, and, subject to and in

31  compliance with the provisions of any lease-purchase agreement

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 1  between the authority and the department, operate and maintain

 2  the same for and on behalf of and in the name of the

 3  authority, the department, and the bondholders, and collect

 4  and receive all rates, fees, rentals, and other charges or

 5  receipts or revenues arising therefrom in the same manner as

 6  the authority or the department might do, and shall deposit

 7  all such moneys in a separate account and apply such moneys in

 8  such manner as the court shall direct. In any suit, action, or

 9  proceeding by the trustee, the fees, counsel fees, and

10  expenses of the trustee and the receiver, if any, and all

11  costs and disbursements allowed by the court shall be a first

12  charge on any rates, fees, rentals, or other charges,

13  revenues, or receipts derived from the system or the

14  facilities or services or any part or parts thereof, including

15  payments under any such lease-purchase agreement as aforesaid,

16  which rates, fees, rentals, or other charges, revenues, or

17  receipts may be applicable to the payment of the bonds so in

18  default. Such trustee, in addition to the foregoing, possesses

19  all of the powers necessary for the exercise of any functions

20  specifically set forth herein or incident to the

21  representation of the bondholders in the enforcement and

22  protection of their rights.

23         (4)  This section or any other section of this part

24  does not authorize any receiver appointed pursuant hereto for

25  the purpose, subject to and in compliance with the provisions

26  of any lease-purchase agreement between the authority and the

27  department, of operating and maintaining the system or any

28  facilities or part or parts thereof to sell, assign, mortgage,

29  or otherwise dispose of any of the assets of whatever kind and

30  character belonging to the authority. It is the intention of

31  this part to limit the powers of such receiver, subject to and

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 1  in compliance with the provisions of any lease-purchase

 2  agreement between the authority and the department, to the

 3  operation and maintenance of the system or any facility or

 4  part or parts thereof, as the court may direct, in the name of

 5  and for and on behalf of the authority, the department, and

 6  the bondholders. In any suit, action, or proceeding at law or

 7  in equity, a holder of bonds on the authority, a trustee, or

 8  any court may not compel or direct a receiver to sell, assign,

 9  mortgage, or otherwise dispose of any assets of whatever kind

10  or character belonging to the authority. A receiver also may

11  not be authorized to sell, assign, mortgage, or otherwise

12  dispose of any assets of whatever kind or character belonging

13  to the authority in any suit, action, or proceeding at law or

14  in equity.

15         343.945  Pledges enforceable by bondholders.--It is the

16  express intention of this part that any pledge to the

17  authority by the department of rates, fees, revenues, or other

18  funds as rentals, or any covenants or agreements relative

19  thereto, is enforceable in any court of competent jurisdiction

20  against the authority or directly against the department by

21  any holder of bonds issued by the authority.

22         343.946  Lease-purchase agreement.--

23         (1)  In order to effectuate the purposes of this part

24  and as authorized by this part, the authority may enter into a

25  lease-purchase agreement with the department relating to and

26  covering authority projects within the seven-county Tampa Bay

27  region.

28         (2)  Such lease-purchase agreement shall provide for

29  the leasing of the system by the authority, as lessor, to the

30  department, as lessee, shall prescribe the term of such lease

31  and the rentals to be paid thereunder, and shall provide that,

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 1  upon the completion of the faithful performance thereunder and

 2  the termination of such lease-purchase agreement, title in fee

 3  simple absolute to the system as then constituted shall be

 4  transferred in accordance with law by the authority to the

 5  state and the authority shall deliver to the department such

 6  deeds and conveyances as shall be necessary or convenient to

 7  vest title in fee simple absolute in the state.

 8         (3)  Such lease-purchase agreement may include such

 9  other provisions, agreements, and covenants as the authority

10  and the department deem advisable or required, including, but

11  not limited to, provisions as to the bonds to be issued for

12  the purposes of this part, the completion, extension,

13  improvement, operation, and maintenance of the system and the

14  expenses and the cost of operation of the authority, the

15  charging and collection of tolls, rates, fees, and other

16  charges for the use of the services and facilities thereof,

17  and the application of federal or state grants or aid which

18  may be made or given to assist the authority in the

19  completion, extension, improvement, operation, and maintenance

20  of the system.

21         (4)  The department as lessee under such lease-purchase

22  agreement may pay as rentals thereunder any rates, fees,

23  charges, funds, moneys, receipts, or income accruing to the

24  department from the operation of the system and may also pay

25  as rentals any appropriations received by the department

26  pursuant to any act of the Legislature heretofore or hereafter

27  enacted; however, nothing in this section or in such

28  lease-purchase agreement is intended to require, nor shall

29  this part or such lease-purchase agreement require, the making

30  or continuance of such appropriations, nor shall any holder of

31  

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 1  bonds issued pursuant to this part ever have any right to

 2  compel the making or continuance of such appropriations.

 3         (5)  The department shall have power to covenant in any

 4  lease-purchase agreement that it will pay all or any part of

 5  the cost of the operation, maintenance, repair, renewal, and

 6  replacement of facilities, and any part of the cost of

 7  completing facilities to the extent that the proceeds of bonds

 8  issued are insufficient, from sources other than the revenues

 9  derived from the operation of the system.

10         343.947  Department may be appointed agent of authority

11  for construction.--The department may be appointed by the

12  authority as its agent for the purpose of constructing and

13  completing transportation projects, and improvements and

14  extensions thereto, in the authority's master plan. In such

15  event, the authority shall provide the department with

16  complete copies of all documents, agreements, resolutions,

17  contracts, and instruments relating thereto; shall request the

18  department to do such construction work, including the

19  planning, surveying, and actual construction of the

20  completion, extensions, and improvements to the system; and

21  shall transfer to the credit of an account of the department

22  in the treasury of the state the necessary funds therefor. The

23  department shall proceed with such construction and use the

24  funds for such purpose in the same manner that it is now

25  authorized to use the funds otherwise provided by law for its

26  use in construction of commuter rail systems, transit systems,

27  ferry systems, roads, bridges, and related transportation

28  facilities.

29         343.95  Acquisition of lands and property.--

30         (1)  For the purposes of this part, the authority may

31  acquire private or public property and property rights,

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 1  including rights of access, air, view, and light, by gift,

 2  devise, purchase, or condemnation by eminent domain

 3  proceedings, as the authority may deem necessary for any

 4  purpose of this part, including, but not limited to, any lands

 5  reasonably necessary for securing applicable permits, areas

 6  necessary for management of access, borrow pits, drainage

 7  ditches, water retention areas, rest areas, replacement access

 8  for landowners whose access is impaired due to the

 9  construction of a facility, and replacement rights-of-way for

10  relocated rail and utility facilities; for existing, proposed,

11  or anticipated transportation facilities within the

12  seven-county Tampa Bay region identified by the authority; or

13  for the purposes of screening, relocation, removal, or

14  disposal of junkyards and scrap metal processing facilities.

15  The authority may condemn any material and property necessary

16  for such purposes.

17         (2)  The right of eminent domain herein conferred shall

18  be exercised by the authority in the manner provided by law.

19         (3)  When the authority acquires property for a

20  transportation facility within the seven-county Tampa Bay

21  region, the authority is not subject to any liability imposed

22  by chapter 376 or chapter 403 for preexisting soil or

23  groundwater contamination due solely to its ownership. This

24  subsection does not affect the rights or liabilities of any

25  past or future owners of the acquired property, nor does it

26  affect the liability of any governmental entity for the

27  results of its actions which create or exacerbate a pollution

28  source. The authority and the Department of Environmental

29  Protection may enter into interagency agreements for the

30  performance, funding, and reimbursement of the investigative

31  

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 1  and remedial acts necessary for property acquired by the

 2  authority.

 3         343.96  Cooperation with other units, boards, agencies,

 4  and individuals.--Express authority and power is hereby given

 5  and granted to any county, municipality, drainage district,

 6  road and bridge district, school district, or any other

 7  political subdivision, board, commission, or individual in or

 8  of the state to make and enter into contracts, leases,

 9  conveyances, partnerships, or other agreements with the

10  authority within the provisions and purposes of this part. The

11  authority may make and enter into contracts, leases,

12  conveyances, partnerships, and other agreements with any

13  political subdivision, agency, or instrumentality of the state

14  and any and all federal agencies, corporations, and

15  individuals for the purpose of carrying out the provisions of

16  this part.

17         343.962  Public-private partnerships.--

18         (1)  The authority may receive or solicit proposals and

19  enter into agreements with private entities or consortia

20  thereof for the building, operation, ownership, or financing

21  of multimodal transportation systems, transit-oriented

22  development nodes, transit stations, or related facilities

23  within the jurisdiction of the authority. Before approval, the

24  authority must determine that a proposed project:

25         (a)  Is in the public's best interest.

26         (b)  Would not require state funds to be used unless

27  the project is on or provides increased mobility on the State

28  Highway System.

29         (c)  Would have adequate safeguards to ensure that

30  additional costs or unreasonable service disruptions would not

31  be realized by the traveling public and citizens of the state

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 1  in the event of default or the cancellation of the agreement

 2  by the authority.

 3         (2)  The authority shall ensure that all reasonable

 4  costs to the state related to transportation facilities that

 5  are not part of the State Highway System are borne by the

 6  private entity or any partnership created to develop the

 7  facilities. The authority shall also ensure that all

 8  reasonable costs to the state and substantially affected local

 9  governments and utilities related to the private

10  transportation facility are borne by the private entity for

11  transportation facilities that are owned by private entities.

12  For projects on the State Highway System or that provide

13  increased mobility on the State Highway System, the department

14  may use state resources to participate in funding and

15  financing the project as provided for under the department's

16  enabling legislation.

17         (3)  The authority may request proposals for

18  public-private multimodal transportation projects or, if it

19  receives an unsolicited proposal, the authority must publish a

20  notice in the Florida Administrative Weekly and a newspaper of

21  general circulation in the county in which the proposed

22  project is located at least once a week for 2 weeks stating

23  that it has received the proposal and will accept, for 60 days

24  after the initial date of publication, other proposals for the

25  same project purpose. A copy of the notice must be mailed to

26  each local government in the affected areas. After the public

27  notification period has expired, the authority shall rank the

28  proposals in order of preference. In ranking the proposals,

29  the authority shall consider professional qualifications,

30  general business terms, innovative engineering or

31  cost-reduction terms, finance plans, and the need for state

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 1  funds to deliver the proposal. If the authority is not

 2  satisfied with the results of the negotiations, it may, at its

 3  sole discretion, terminate negotiations with the proposer. If

 4  these negotiations are unsuccessful, the authority may go to

 5  the second and lower-ranked firms, in order, using the same

 6  procedure. If only one proposal is received, the authority may

 7  negotiate in good faith and, if it is not satisfied with the

 8  results, it may, at its sole discretion, terminate

 9  negotiations with the proposer. Notwithstanding this

10  subsection, the authority may, at its discretion, reject all

11  proposals at any point in the process up to completion of a

12  contract with the proposer.

13         (4)  Agreements entered into pursuant to this section

14  may authorize the public-private entity to impose tolls or

15  fares for the use of the facility. However, the amount and use

16  of toll or fare revenues shall be regulated by the authority

17  to avoid unreasonable costs to users of the facility.

18         (5)  Each public-private transportation facility

19  constructed pursuant to this section shall comply with all

20  requirements of federal, state, and local laws; state,

21  regional, and local comprehensive plans; the authority's

22  rules, policies, procedures, and standards for transportation

23  facilities; and any other conditions that the authority

24  determines to be in the public's best interest.

25         (6)  The authority may exercise any of its powers,

26  including eminent domain, to facilitate the development and

27  construction of multimodal transportation projects pursuant to

28  this section. The authority may pay all or part of the cost of

29  operating and maintaining the facility or may provide services

30  to the private entity, for which services it shall receive

31  full or partial reimbursement.

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    Florida Senate - 2007                            CS for SB 506
    596-1974-07




 1         (7)  Except as provided in this section, this section

 2  is not intended to amend existing law by granting additional

 3  powers to or imposing further restrictions on the governmental

 4  entities with regard to regulating and entering into

 5  cooperative arrangements with the private sector for the

 6  planning, construction, and operation of transportation

 7  facilities.

 8         (8)  The authority may adopt rules pursuant to ss.

 9  120.536(1) and 120.54 to implement this section and shall, by

10  rule, establish an application fee for the submission of

11  unsolicited proposals under this section. The fee must be

12  sufficient to pay the costs of evaluating the proposals.

13         343.97  Exemption from taxation.--The effectuation of

14  the authorized purposes of the authority created under this

15  part is for the benefit of the people of this state, for the

16  increase of their commerce and prosperity, and for the

17  improvement of their health and living conditions and, because

18  the authority performs essential governmental functions in

19  effectuating such purposes, the authority is not required to

20  pay any taxes or assessments of any kind or nature whatsoever

21  upon any property acquired or used by it for such purposes, or

22  upon any rates, fees, rentals, receipts, income, or charges at

23  any time received by it. The bonds issued by the authority,

24  their transfer, and the income therefrom, including any

25  profits made on the sale thereof, shall at all times be free

26  from taxation of any kind by the state or by any political

27  subdivision, taxing agency, or instrumentality thereof. The

28  exemption granted by this section does not apply to any tax

29  imposed by chapter 220 on interest, income, or profits on debt

30  obligations owned by corporations.

31  

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    Florida Senate - 2007                            CS for SB 506
    596-1974-07




 1         343.973  Eligibility for investments and security.--Any

 2  bonds or other obligations issued pursuant to this part shall

 3  be and constitute legal investments for banks, savings banks,

 4  trustees, executors, administrators, and all other fiduciaries

 5  and for all state, municipal, and other public funds and shall

 6  also be and constitute securities eligible for deposit as

 7  security for all state, municipal, or other public funds,

 8  notwithstanding the provisions of any other law to the

 9  contrary.

10         343.975  Complete and additional statutory authority.--

11         (1)  The powers conferred by this part are supplemental

12  to the existing powers of the board and the department. This

13  part does not repeal any of the provisions of any other law,

14  general, special, or local, but supplements such other laws in

15  the exercise of the powers provided in this part and provides

16  a complete method for the exercise of the powers granted in

17  this part. The projects planned and constructed by the Tampa

18  Bay Regional Transportation Authority shall comply with all

19  applicable federal, state, and local laws. The authority shall

20  coordinate project planning, development, and implementation

21  with the applicable adopted comprehensive plans of local

22  governments within whose jurisdictions the projects or

23  improvements will be located, in order to define and resolve

24  potential inconsistencies between plans. The extension and

25  improvement of the system, and the issuance of bonds hereunder

26  to finance all or part of the cost thereof, may be

27  accomplished upon compliance with the provisions of this part

28  without regard to or necessity for compliance with the

29  provisions, limitations, or restrictions contained in any

30  other general, special, or local law, including, but not

31  limited to, s. 215.821. An approval of any bonds issued under

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    Florida Senate - 2007                            CS for SB 506
    596-1974-07




 1  this part by the qualified electors or qualified electors who

 2  are freeholders in the state or in any other political

 3  subdivision of the state is not required for the issuance of

 4  such bonds pursuant to this part.

 5         (2)  This part does not repeal, rescind, or modify any

 6  other law relating to the State Board of Administration, the

 7  Department of Transportation, the Tampa-Hillsborough County

 8  Expressway Authority, or the Division of Bond Finance within

 9  the State Board of Administration; however, this part

10  supersedes such other laws as are inconsistent with its

11  provisions, including, but not limited to, s. 215.821.

12         (3)  This part does not preclude the department from

13  acquiring, holding, constructing, improving, maintaining,

14  operating, or owning tolled or nontolled facilities funded and

15  constructed from nonauthority sources that are part of the

16  State Highway System within the geographical boundaries of the

17  Tampa Bay Regional Transportation Authority.

18         Section 2.  This act shall take effect July 1, 2007.

19  

20          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
21                         Senate Bill 506

22                                 

23  The committee substitute removes the original bill's provision
    merging the Tampa Hillsborough County Expressway Authority
24  with the new Tampa Bay Regional Transportation Authority. The
    provision for the Tampa Bay Commuter Transit Authority to
25  develop plans in consultation with the Tampa Bay Regional
    Transportation Authority is removed. The CS provides two
26  additional board members; one is an additional gubernatorial
    appointee representing business and one new board membership
27  is rotated biennially between a mayor from Manatee County and
    a mayor from Sarasota County.
28  

29  

30  

31  

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