HB 1549

1
A bill to be entitled
2An act relating to Brevard County; providing legislative
3findings; providing a definition; creating the Florida
4Advanced Combustion Center, Inc., as a not-for-profit
5corporation; requiring compliance with public meetings and
6records laws; providing for the organization and purpose
7of the corporation; providing for a board of directors of
8the corporation; specifying the powers and duties of the
9board; authorizing the issuance of certain bonds;
10requiring an annual report; providing construction;
11providing an effective date.
12
13Be It Enacted by the Legislature of the State of Florida:
14
15     Section 1.  (1)  LEGISLATIVE FINDINGS.--The Legislature
16finds that it is in the public interest to promote energy-
17related research and development of advanced combustion
18technologies and that such activities can make the state a
19leader in combustion technologies as well as encourage
20investment and economic development in this state. A Brevard
21County location and a relationship with Kennedy Space Center and
22its facilities, scientific workforce, and technical expertise
23may attract and promote international participation in helping
24solve the energy problems facing the state and nation.
25     (2)  CREATION.--There is created a not-for-profit
26corporation, to be known as the Florida Advanced Combustion
27Center, Inc., which shall have all the powers of corporations
28organized under chapters 607 and 617, Florida Statutes, and
29which shall not be a unit, agency, or entity of state
30government. The Legislature determines, however, that public
31policy dictates that the Florida Advanced Combustion Center,
32Inc., operate in the most open and accessible manner consistent
33with its public purpose. To this end, the Legislature
34specifically declares that the Florida Advanced Combustion
35Center, Inc., and its boards and advisory committees or similar
36groups are subject to the provisions of chapter 119, Florida
37Statutes, relating to public records and those provisions of
38chapter 286, Florida Statutes, relating to public meetings and
39records, except those specifically exempted as trade secrets.
40     (3)  DEFINITION.--As used in this act, the term
41"corporation" means the Florida Advanced Combustion Center, Inc.
42     (4)  OFFICES.--The corporation shall establish one or more
43corporate offices, one of which shall be located in Brevard
44County at or near Kennedy Space Center.
45     (5)  BOARD OF DIRECTORS; DUTIES.--The corporation shall be
46governed by a board of directors consisting of seven persons who
47are residents of Brevard County. The Brevard County Legislative
48Delegation shall nominate three candidates for each board
49vacancy, and the Governor shall appoint members of the board
50from the nominees. Two members shall be members of the Brevard
51County Board of County Commissioners, appointed by the
52commission. Of the members first appointed, two shall serve for
532 years and the remainder for 4 years, and in each case until a
54successor is appointed and has qualified. Thereafter, the
55Governor shall appoint each member for 4 years unless a vacancy
56occurs during a member's term, which the Governor shall be
57authorized to fill for the remainder of the member's term. The
58Governor may remove any member for misfeasance, malfeasance, or
59willful neglect of duty. Each member of the board before
60entering upon his or her duties shall take and subscribe the
61oath or affirmation required by the State Constitution. The
62board of directors of the corporation shall have all the powers
63of a corporate body under the laws of this state, including the
64power and duty to:
65     (a)  Construct a state-of-the-art research facility at or
66near Kennedy Space Center.
67     (b)  Contract with a research university to plan, operate,
68and manage the corporation's facility.
69     (c)  Enter into interlocal agreements pursuant to s.
70163.01, Florida Statutes, with public agencies of this state for
71the exercise of any power, privilege, or authority consistent
72with the purposes of this act.
73     (d)  Secure funding for programs and activities of the
74corporation and its boards from federal, state, local, and
75private sources and from fees charged for services and solicit,
76receive, hold, invest, and administer any grant, payment, or
77gift of funds or property and make expenditures consistent with
78the powers granted to it, including the receipt of tax increment
79revenues from any source.
80     (e)  Sue and be sued, and appear and defend in all actions
81and proceedings, in its corporate name to the same extent as a
82natural person.
83     (f)  Elect or appoint officers and agents as its affairs
84require and allow them reasonable compensation.
85     (g)  Adopt, amend, and repeal bylaws, not inconsistent with
86the powers granted to it or the articles of incorporation, for
87the administration of the affairs of the corporation and the
88exercise of its corporate powers.
89     (h)  Acquire, enjoy, use, and dispose of patents,
90copyrights, and trademarks and any licenses, royalties, and
91other rights or interests thereunder or therein.
92     (i)  Do all acts and things necessary or convenient to
93carry out the powers granted to it.
94     (j)  Carry forward any unexpended state appropriations into
95succeeding fiscal years.
96     (k)  Procure insurance or require bond against any loss in
97connection with the property of the corporation and its board of
98directors or working groups, in such amounts and from such
99insurers as is necessary or desirable.
100     (l)  Insure or provide for insurance of any real or
101personal property or operations of the corporation or any
102private enterprise against any risks or hazards, including the
103power to pay premiums on any such insurance.
104     (m)  Create and dissolve advisory committees, working
105groups, task forces, or similar organizations, as necessary to
106carry out the mission of the corporation. Members of such groups
107shall serve without compensation but may be reimbursed for
108reasonable, necessary, and actual expenses, as determined by the
109corporation's board of directors.
110     (n)  Issue, from time to time, revenue bonds, including,
111but not limited to, bonds the interest on which is exempt from
112federal income taxation, for the purpose of constructing,
113operating, and improving the corporation and exercise all powers
114in connection with the authorization, issuance, and sale of
115bonds, subject to the provisions of s. 288.9606, Florida
116Statutes.
117     (o)  Issue bond anticipation notes in connection with the
118authorization, issuance, and sale of such bonds, pursuant to the
119provisions of law.
120     (p)  Disseminate information about itself and its
121activities.
122     (q)  Acquire, by purchase, lease, option, gift, grant,
123bequest, devise, or otherwise, real property, or personal
124property for its administrative purposes, together with any
125improvements thereon.
126     (r)  Hold, improve, clear, or prepare for development any
127such property.
128     (s)  Mortgage, pledge, hypothecate, or otherwise encumber
129or dispose of any real or personal property.
130     (t)  Insure or provide for insurance of any real or
131personal property or operations of the corporation or any
132private enterprise against any risks or hazards, including the
133power to pay premiums on any such insurance.
134     (u)  Establish and fund a guaranty fund.
135     (v)  Borrow money and apply for and accept advances, loans,
136grants, contributions, and any other form of financial
137assistance from the Federal Government or the state, county, or
138other public body or from any sources, public or private, for
139the purposes of this act and give such security as may be
140required and enter into and carry out contracts or agreements in
141connection therewith, and include in any contract for financial
142assistance with the Federal Government for, or with respect to,
143any purposes under this act and related activities such
144conditions imposed pursuant to federal laws and deemed as
145reasonable and appropriate which are not inconsistent with the
146provisions of this act.
147     (w)  Make or have all surveys and plans necessary for the
148carrying out of the purposes of this act, contract with any
149person, public or private, in making and carrying out such
150plans, and adopt, approve, modify, and amend such plans.
151     (x)  Develop, test, and report methods and techniques and
152carry out demonstrations and other activities for the promotion
153of any of the purposes of this act.
154     (y)  Make expenditures necessary to carry out the purposes
155of this act.
156     (z)  Make and execute any leases, contracts, trust
157agreements, and other instruments and agreements, with public or
158private entities, necessary or convenient to accomplish the
159purposes of this act, including the execution of interest rate
160swaps, hedges, and other interest rate management contracts and
161derivative products.
162     (6)  FINANCES.--In performing its functions, the
163corporation shall take all possible steps to ensure the maximum
164benefit to the state, including, but not limited to,
165establishing strategic priorities, consistent with the findings
166of this act, to guide funding allocations and ensure the
167efficient use of available resources.
168     (a)  When authorized by the board, the corporation has
169power in its corporate capacity, in its discretion, to issue
170revenue bonds or other evidences of indebtedness which a public
171agency has the power to issue from time to time to finance the
172undertaking of any purpose of this act, including, without
173limiting the generality thereof, the payment of principal and
174interest upon any advances for surveys and plans or preliminary
175loans, and has the power to issue refunding bonds for the
176payment or retirement of bonds previously issued. The security
177for such bonds may be based upon such revenues as are legally
178available. In anticipation of the sale of such revenue bonds,
179the corporation may issue bond anticipation notes and may renew
180such notes from time to time, but the maximum maturity of any
181such note, including renewals thereof, may not exceed 5 years
182after the date of issuance of the original note. Such notes
183shall be paid from any revenues of the corporation available
184therefor and not otherwise pledged or from the proceeds of sale
185of the revenue bonds in anticipation of which they were issued.
186Any bond, note, or other form of indebtedness issued pursuant to
187this act shall mature no later than the end of the 30th fiscal
188year after the fiscal year in which the bond, note, or other
189form of indebtedness was issued.
190     (b)  Bonds issued under this act do not constitute an
191indebtedness within the meaning of any constitutional or
192statutory debt limitation or restriction and are not subject to
193the provisions of any other law or charter relating to the
194authorization, issuance, or sale of bonds. Bonds issued under
195the provisions of this act are declared to be for an essential
196public and governmental purpose. Bonds issued under this act,
197the interest on which is exempt from income taxes of the United
198States, together with interest thereon and income therefrom, are
199exempted from all taxes.
200     (c)  The credit of the state, Brevard County, or any other
201body with taxing powers may not be pledged on behalf of the
202corporation.
203     (d)  The fulfillment of the purposes of the corporation
204promotes the health, safety, and general welfare of the people
205of the state and serves as essential governmental functions and
206a paramount public purpose.
207     (e)  The corporation is exempt from taxation and
208assessments of any nature whatsoever upon its income and any
209property, assets, or revenues acquired, received, or used in the
210furtherance of the purposes provided in this chapter. The
211obligations of the corporation incurred pursuant to subsection
212(5) and the interest and income thereon and all security
213agreements, letters of credit, liquidity facilities, or other
214obligations or instruments arising out of, entered into in
215connection therewith, or given to secure payment thereof are
216exempt from all taxation, provided such exemption does not apply
217to any tax imposed by chapter 220, Florida Statutes, on the
218interest, income, or profits on debt obligations owned by
219corporations.
220     (f)  The corporation may validate obligations to be
221incurred pursuant to this act and the validity and
222enforceability of any agreements or resolutions of public record
223providing for payments pledged to the payment thereof by
224proceedings under chapter 75, Florida Statutes. The validation
225complaint shall be filed only in the Circuit Court for Brevard
226County. The notice required to be published by s. 75.06, Florida
227Statutes, shall be published in Brevard County, and the
228complaint and order of the circuit court shall be served only on
229the State Attorney for the Eighteenth Judicial Circuit. Sections
23075.04(2) and 75.06(2), Florida Statutes, shall not apply to a
231complaint for validation filed as authorized in this paragraph.
232     (g)  The corporation shall not be deemed to be a special
233district for purposes of chapter 189, Florida Statutes, or a
234unit of local government for purposes of part III of chapter
235218, Florida Statures. The provisions of chapters 120 and 215,
236Florida Statutes, except the limitation on interest rates
237provided by s. 215.84, Florida Statutes, which applies to
238obligations of the corporation issued pursuant to this act, and
239part I of chapter 287, Florida Statutes, except ss. 287.0582 and
240287.0641, Florida Statutes, shall not apply to this act, the
241corporation created in this act, the service contracts entered
242into pursuant to this act, or debt obligations issued by the
243corporation as contemplated in this act.
244     (h)  In no event shall any of the benefits or earnings of
245the corporation inure to the benefit of any private person.
246     (i)  Upon dissolution of the corporation, title to all
247property owned by the corporation shall revert to Brevard
248County.
249     (j)  The corporation may invest in any of the investments
250authorized by s. 218.415, Florida Statutes.
251     (k)  All bonds of the corporation shall be and constitute
252legal investments without limitation for all public bodies of
253this state; for all banks, trust companies, savings banks,
254savings associations, savings and loan associations, and
255investment companies; for all administrators, executors,
256trustees, and other fiduciaries; for all insurance companies and
257associations and other persons carrying on an insurance
258business; and for all other persons who are now or may hereafter
259be authorized to invest in bonds or other obligations of the
260state and shall be and constitute eligible securities to be
261deposited as collateral for the security of any state, county,
262municipal, or other public funds. This paragraph shall be
263considered as additional and supplemental authority and shall
264not be limited without specific reference to this paragraph.
265     (l)  The corporation and its corporate existence shall
266continue until terminated by law. However, no such law shall
267take effect as long as the corporation has bonds outstanding
268unless adequate provision has been made for the payment of such
269bonds pursuant to the documents authorizing the issuance of such
270bonds. Upon termination of the existence of the corporation, all
271of its rights and properties in excess of its obligations shall
272pass to and be vested in Brevard County.
273     (m)  Notwithstanding any other provision of law, any pledge
274of or other security interest in revenue, money, accounts,
275contract rights, general intangibles, or other personal property
276made or created by the fund or the corporation shall be valid,
277binding, and perfected from the time such pledge is made or
278other security interest attaches without any physical delivery
279of the collateral or further act and the lien of any such pledge
280or other security interest shall be valid, binding, and
281perfected against all parties having claims of any kind in tort,
282contract, or otherwise against the fund or the corporation
283irrespective of whether or not such parties have notice of such
284claims. No instrument by which such a pledge or security
285interest is created nor any financing statement need be recorded
286or filed.
287     (7)  ANNUAL REPORT.--By December 1 each year, the
288corporation shall submit an annual report to the Governor, the
289President of the Senate, and the Speaker of the House of
290Representatives containing:
291     (a)  A detailed description of the corporation's activities
292and accomplishments for the year.
293     (b)  An annual financial accounting of resources and
294expenditures prepared by an independent certified public
295accountant.
296     (c)  A statement of the strategic priorities of the
297corporation and their use in guiding resource allocations.
298     (d)  Any recommendations the corporation has for action by
299the Legislature or by the agencies of state, county, or
300municipal governments to foster research concerning, or
301development or deployment of, advanced combustion technology.
302     (8)  CONSTRUCTION.--The powers granted to the corporation
303shall be liberally construed so that the corporation may achieve
304the purposes and goals of this act.
305     Section 2.  This act shall take effect upon becoming a law.


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