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A bill to be entitled

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An act relating to Everglades restoration bonds; amending

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s. 215.619, F.S.; extending the period during which such

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bonds may be issued and increasing amount of bonds that

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may be issued each fiscal year; providing an effective

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date.

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

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     Section 1.  Subsection (1) of section 215.619, Florida

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Statutes, is amended to read:

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     215.619  Bonds for Everglades restoration.--

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     (1)  The issuance of Everglades restoration bonds to finance

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or refinance the cost of acquisition and improvement of land,

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water areas, and related property interests and resources for the

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purpose of implementing the Comprehensive Everglades Restoration

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Plan under s. 373.470, the Lake Okeechobee Watershed Protection

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Plan under s. 373.4595, the Caloosahatchee River Watershed

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Protection Plan under s. 373.4595, and the St. Lucie River

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Watershed Protection Plan under s. 373.4595 is authorized in

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accordance with s. 11(e), Art. VII of the State Constitution.

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Everglades restoration bonds, except refunding bonds, may be

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issued only in fiscal years 2002-2003 through 2019-2020 2009-2010

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and may not be issued in an amount exceeding $200 $100 million

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per fiscal year unless the Department of Environmental Protection

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has requested additional amounts in order to achieve cost savings

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or accelerate the purchase of land. The duration of Everglades

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restoration bonds may not exceed 20 annual maturities, and those

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bonds must mature by December 31, 2040 2030. Except for refunding

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bonds, a series of bonds may not be issued unless an amount equal

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to the debt service coming due in the year of issuance has been

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appropriated by the Legislature.

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     Section 2.  This act shall take effect July 1, 2008.