1

A bill to be entitled

2

An act relating to Everglades restoration bonds; amending

3

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

4

bonds may be issued each fiscal year; providing an

5

effective date.

6

7

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

8

9

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

10

Statutes, is amended to read:

11

     215.619  Bonds for Everglades restoration.--

12

     (1)  The issuance of Everglades restoration bonds to finance

13

or refinance the cost of acquisition and improvement of land,

14

water areas, and related property interests and resources for the

15

purpose of implementing the Comprehensive Everglades Restoration

16

Plan under s. 373.470, the Lake Okeechobee Watershed Protection

17

Plan under s. 373.4595, the Caloosahatchee River Watershed

18

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

19

Watershed Protection Plan under s. 373.4595 is authorized in

20

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

21

Everglades restoration bonds, except refunding bonds, may be

22

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

23

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

24

fiscal year unless the Department of Environmental Protection has

25

requested additional amounts in order to achieve cost savings or

26

accelerate the purchase of land. The duration of Everglades

27

restoration bonds may not exceed 20 annual maturities, and those

28

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

29

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

30

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

31

appropriated by the Legislature.

32

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