| 1 | Representative A. Gibson offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove lines 489-876 and insert: |
| 5 | 349.041 Provision of funds and services by city to |
| 6 | authority; employment of legal counsel.-- |
| 7 | (1) The authority shall prepare and submit annually its |
| 8 | requests for such funds as it may require from the city for the |
| 9 | ensuing year to the council of the city on or before June 1, |
| 10 | setting forth its estimated gross revenues and estimated |
| 11 | requirements for operations, maintenance expenses, and debt |
| 12 | service. A copy of such requests shall be furnished to the |
| 13 | Department of Transportation. The council and the mayor of the |
| 14 | City of Jacksonville may appropriate such funds as they deem |
| 15 | appropriate for the use of the authority and records related |
| 16 | thereto may be audited by the Council Auditor of the City of |
| 17 | Jacksonville at anytime. |
| 18 | (2) Except as the council may provide, and except as |
| 19 | otherwise required by any trust indenture outstanding on |
| 20 | September 1, 1971, the authority may use shall utilize, on a |
| 21 | cost-accounted basis, the central services of the city, and |
| 22 | shall pay therefor. The authority may, however, employ legal |
| 23 | counsel it deems necessary, upon resolution of the authority. |
| 24 | Section 5. Section 349.042, Florida Statutes, is repealed. |
| 25 | Section 6. Section 349.043, Florida Statutes, is created |
| 26 | to read: |
| 27 | 349.043 Public hearings for transportation |
| 28 | facilities.--Transportation facilities may not be designated or |
| 29 | relocated by the authority, nor may substantive changes be made |
| 30 | thereto, until after a public hearing is conducted by the |
| 31 | authority. Any interested party shall have the opportunity to be |
| 32 | heard either in person or by counsel and to introduce testimony |
| 33 | in such person's behalf at the hearing. Reasonable notice of |
| 34 | each such public hearing shall be published in a newspaper of |
| 35 | general circulation in each county directly affected by the |
| 36 | proposed transportation facility not less than 14 days prior to |
| 37 | the hearing. In addition, the authority shall comply with all |
| 38 | applicable federal requirements related to new or altered |
| 39 | transportation facilities or services. |
| 40 | Section 7. Section 349.05, Florida Statutes, is amended to |
| 41 | read: |
| 42 | 349.05 Bonds of the authority; bonds not debt or pledges |
| 43 | of credit of state.-- |
| 44 | (1)(a) Bonds may be issued on behalf of the authority |
| 45 | pursuant to the State Bond Act or, alternatively, the authority |
| 46 | may issue bonds pursuant to paragraph (b). |
| 47 | (b)1. The bonds of the authority issued pursuant to the |
| 48 | provisions of this chapter, whether an original issuance or on |
| 49 | refunding, shall be authorized by resolution of the members |
| 50 | thereof and may be issued in one or more series, may be either |
| 51 | term or serial bonds, and shall bear such date or dates, be |
| 52 | payable on demand or mature at such time or times, not exceeding |
| 53 | 40 years from their respective dates, bear interest, fixed or |
| 54 | variable, at such rate or rates, not exceeding the maximum |
| 55 | lawful interest rate payable semiannually, be in such |
| 56 | denominations, be in such form, either coupon or fully |
| 57 | registered, carry such registration, exchangeability, and |
| 58 | interchangeability privileges, be payable in such medium of |
| 59 | payment and at such place or places, be subject to such terms of |
| 60 | redemption, with or without premium, and other terms, have such |
| 61 | rank, and be entitled to such remedies and priorities on the |
| 62 | revenues, rates, fees, rentals, or other charges or receipts of |
| 63 | the authority including all or any portion of local option sales |
| 64 | tax or the Duval county gasoline tax funds received by the |
| 65 | authority pursuant to the terms of any lease-purchase agreement |
| 66 | between the authority and the department, as the authority may |
| 67 | determine such resolution or any resolution subsequent thereto |
| 68 | may provide. The bonds shall be executed either by manual or |
| 69 | facsimile signature by such officers as the authority shall |
| 70 | determine, provided that such bonds shall bear at least one |
| 71 | signature that which is manually executed thereon, and the |
| 72 | coupons attached to such bonds shall bear the facsimile |
| 73 | signature or signatures of such officer or officers as shall be |
| 74 | designated by the authority and shall have the seal of the |
| 75 | authority affixed, imprinted, reproduced, or lithographed |
| 76 | thereon, all as may be prescribed in such resolution or |
| 77 | resolutions. |
| 78 | 2.(b) Such bonds shall be sold at public or private sale |
| 79 | at such price or prices as the authority determines to be in its |
| 80 | best interest, except that the interest costs to the authority |
| 81 | on such bonds may not exceed the maximum lawful interest rate. |
| 82 | The authority shall provide a specific finding by resolution as |
| 83 | to the reason requiring any negotiated sale must be sold at |
| 84 | public sale in the manner provided by the State Bond Act. |
| 85 | However, if the authority, by official action at a public |
| 86 | meeting, determines that a negotiated sale of the bonds is in |
| 87 | the best interest of the authority, the authority may negotiate |
| 88 | for sale of the bonds with the underwriter or underwriters |
| 89 | designated by the authority and the Division of Bond Finance of |
| 90 | the State Board of Administration. Pending the preparation of |
| 91 | definitive bonds, interim certificates may be issued to the |
| 92 | purchaser or purchasers of such bonds and may contain such terms |
| 93 | and conditions as the authority may determine. |
| 94 | 3. The authority may issue bonds pursuant to this |
| 95 | paragraph to refund any bonds previously issued regardless of |
| 96 | whether the bonds being refunded were issued by the authority |
| 97 | pursuant to this chapter or on behalf of the authority pursuant |
| 98 | to the State Bond Act. |
| 99 | (2) Any such resolution or resolutions authorizing any |
| 100 | bonds hereunder may contain provisions, and valid and legally |
| 101 | binding covenants of the authority, which shall be part of the |
| 102 | contract with the holders of such bonds, as to: |
| 103 | (a) The pledging of all or any part of the revenues, |
| 104 | rates, fees, rentals, including the sales surtax adopted |
| 105 | pursuant to s. 212.055(1) (including all or any portion of the |
| 106 | Duval county gasoline tax funds received by the authority |
| 107 | pursuant to the terms of any lease-purchase agreement between |
| 108 | the authority and the department, or any part thereof), or other |
| 109 | charges or receipts of any nature of the authority, whether or |
| 110 | not derived by the authority from the Jacksonville Expressway |
| 111 | System or its other transportation facilities; |
| 112 | (b) The completion, improvement, operation, extension, |
| 113 | maintenance, repair, lease, or lease-purchase agreement of said |
| 114 | system or transportation facilities, and the duties of the |
| 115 | authority and others, including the department, with reference |
| 116 | thereto; |
| 117 | (c) Limitations on the purposes to which the proceeds of |
| 118 | the bonds, then or thereafter to be issued, or of any loan or |
| 119 | grant, by the United States or the state may be applied; |
| 120 | (d) The fixing, charging, establishing, and collecting of |
| 121 | rates, fees, rentals, or other charges for use of the services |
| 122 | and facilities of the Jacksonville Expressway System or any part |
| 123 | thereof or its other transportation facilities; |
| 124 | (e) The setting aside of reserves or sinking funds or |
| 125 | repair and replacement funds and the regulation and disposition |
| 126 | thereof; |
| 127 | (f) Limitations on the issuance of additional bonds; |
| 128 | (g) The terms and provisions of any lease-purchase |
| 129 | agreement, deed of trust, or indenture securing the bonds, or |
| 130 | under which the same may be issued; and |
| 131 | (h) Any other or additional provisions, covenants, and |
| 132 | agreements with the holders of the bonds which the authority may |
| 133 | deem desirable and proper. |
| 134 | (3) The authority may employ fiscal agents as provided by |
| 135 | this chapter or the State Board of Administration may, upon |
| 136 | request by the authority, act as fiscal agent for the authority |
| 137 | in the issuance of any bonds that may be issued pursuant to this |
| 138 | chapter, and the State Board of Administration may, upon request |
| 139 | by the authority, take over the management, control, |
| 140 | administration, custody, and payment of any or all debt services |
| 141 | or funds or assets now or hereafter available for any bonds |
| 142 | issued pursuant to this chapter. The authority may enter into |
| 143 | deeds of trust, indentures, or other agreements with a corporate |
| 144 | trustee or trustees, which shall act as its fiscal agent for the |
| 145 | authority and may be, or with any bank or trust company within |
| 146 | or without the state, as security for such bonds, and may, under |
| 147 | such agreements, assign and pledge all or any of the revenues, |
| 148 | rates, fees, rentals, or other charges or receipts of the |
| 149 | authority, including all or any portion of local option taxes or |
| 150 | the Duval county gasoline tax funds received by the authority |
| 151 | pursuant to the terms of any lease-purchase agreement between |
| 152 | the authority and the department, thereunder. Such deed of |
| 153 | trust, indenture, or other agreement, may contain such |
| 154 | provisions as are is customary in such instruments or, as the |
| 155 | authority may authorize, including, but without limitation, |
| 156 | provisions as to: |
| 157 | (a) The completion, improvement, operation, extension, |
| 158 | maintenance, repair, and lease of, or lease-purchase agreement |
| 159 | relating to, all or any part of transportation facilities |
| 160 | authorized in this chapter to be constructed, acquired, |
| 161 | developed, or operated by the authority the Jacksonville |
| 162 | Expressway System, and the duties of the authority and others, |
| 163 | including the department, with reference thereto; |
| 164 | (b) The application of funds and the safeguarding of funds |
| 165 | on hand or on deposit; |
| 166 | (c) The rights and remedies of the trustee and the holders |
| 167 | of the bonds; and |
| 168 | (d) The terms and provisions of the bonds or the |
| 169 | resolutions authorizing the issuance of the same. |
| 170 | (4) Any of the bonds issued pursuant to this chapter are, |
| 171 | and are hereby declared to be, negotiable instruments, and shall |
| 172 | have all the qualities and incidents of negotiable instruments |
| 173 | under the law merchant and the negotiable instruments law of the |
| 174 | state. |
| 175 | (5) Notwithstanding any of the provisions of this chapter, |
| 176 | each project, building, or facility that which has been financed |
| 177 | by the issuance of bonds or other evidences of indebtedness |
| 178 | under this chapter and any refinancing thereof is hereby |
| 179 | approved as provided for in s. 11(f), Art. VII of the State |
| 180 | Constitution. |
| 181 | (6) Revenue bonds issued under the provisions of this |
| 182 | chapter are not debts of the state or pledges of the faith and |
| 183 | credit of the state. Such bonds are payable exclusively from |
| 184 | revenues pledged for their payment. Each such bond shall contain |
| 185 | a statement on its face that the state is not obligated to pay |
| 186 | the same or the interest thereon, except from the revenues |
| 187 | pledged for their payment, and that the faith and credit of the |
| 188 | state is not pledged to the payment of the principle or interest |
| 189 | of such bond. The issuance of revenue bonds under the provisions |
| 190 | of this chapter does not directly, indirectly, or contingently |
| 191 | obligate the state to levy or to pledge any form of taxation |
| 192 | whatsoever or to make any appropriation for their payment. |
| 193 | Section 8. Section 349.06, Florida Statutes, is repealed. |
| 194 | Section 9. Section 349.061, Florida Statutes, is created |
| 195 | to read: |
| 196 | 349.061 Bond financing authority.--Pursuant to s. 11(f), |
| 197 | Art. VII of the State Constitution, the Legislature hereby |
| 198 | approves for bond financing by the authority any extensions, |
| 199 | additions, and improvements to the Jacksonville Expressway |
| 200 | System and any other facilities appurtenant, necessary, or |
| 201 | incidental to the system or any transportation facilities herein |
| 202 | authorized to be constructed, acquired, or operated by the |
| 203 | authority. Subject to terms and conditions of applicable revenue |
| 204 | bond resolutions and covenants, such costs may be financed in |
| 205 | whole or in part by revenue bonds issued pursuant to s. |
| 206 | 349.05(1)(a) or (b), whether currently issued or issued in the |
| 207 | future, or by a combination of such bonds. |
| 208 | Section 10. Subsection (7) of section 349.07, Florida |
| 209 | Statutes, is amended to read: |
| 210 | 349.07 Lease-purchase agreement.-- |
| 211 | (7) Regardless of whether the authority enters into a |
| 212 | lease-purchase agreement with the department relating to the |
| 213 | system or any part thereof, the Said system shall be a part of |
| 214 | the State Highway road System and the said department is hereby |
| 215 | authorized, upon the request of the authority, to expend out of |
| 216 | any funds available for the purpose such moneys, and to use such |
| 217 | of its engineering and other forces, as may be necessary and |
| 218 | desirable in the judgment of the said department, for the |
| 219 | operation of the said authority and for traffic surveys, |
| 220 | borings, surveys, preparation of plans and specifications, |
| 221 | estimates of cost, and other preliminary engineering and other |
| 222 | studies; provided, however, that the aggregate amount of moneys |
| 223 | expended for said purposes by said department shall not exceed |
| 224 | the sum of $375,000. |
| 225 | Section 11. Section 349.10, Florida Statutes, is amended |
| 226 | to read: |
| 227 | 349.10 Acquisition of lands and property.-- |
| 228 | (1) For the purposes of this chapter, law the Jacksonville |
| 229 | Transportation Authority may acquire private or public property |
| 230 | and property rights, including rights of access, air, view, and |
| 231 | light, by gift, devise, purchase, or condemnation by eminent |
| 232 | domain proceedings, as the authority may deem necessary, |
| 233 | including, but not limited to, any lands reasonably necessary |
| 234 | for securing applicable permits, areas necessary for management |
| 235 | of access, borrow pits, drainage ditches, water retention areas, |
| 236 | rest areas, replacement access for landowners whose access is |
| 237 | impaired due to the construction of transportation facilities, |
| 238 | and replacement rights-of-way for relocated rail and utility |
| 239 | facilities, and areas necessary for existing, proposed, or |
| 240 | anticipated transportation facilities or in a transportation |
| 241 | corridor designated by the authority. The authority shall also |
| 242 | have the power to condemn any material and property necessary |
| 243 | for such for any of the purposes of this chapter. Property |
| 244 | already devoted to a public use may be acquired in like manner, |
| 245 | provided that no real property belonging to the city, the |
| 246 | county, the state, or any political subdivision thereof may be |
| 247 | acquired without its consent. The right of eminent domain herein |
| 248 | conferred shall be exercised by the authority in the manner |
| 249 | provided by law. |
| 250 | (2) The authority may acquire such rights, title, |
| 251 | interest, or easements in such lands as it may deem necessary |
| 252 | for any of the purposes of this chapter. |
| 253 | (3) In connection with the acquisition of property or |
| 254 | property rights as herein provided, the authority may in its |
| 255 | discretion acquire an entire lot, block, or tract of land, if by |
| 256 | so doing the interests of the public will be best served, even |
| 257 | though said entire lot, block, or tract is not immediately |
| 258 | needed for the right-of-way proper. |
| 259 | (4) When the authority acquires property for a |
| 260 | transportation facility or in a transportation corridor, it is |
| 261 | not subject to any liability imposed by chapter 376 or chapter |
| 262 | 403 for preexisting soil or groundwater contamination due solely |
| 263 | to its ownership. This section does not affect the rights or |
| 264 | liabilities of any past or future owners of the acquired |
| 265 | property nor does it affect the liability of any governmental |
| 266 | entity for the results of its actions that create or exacerbate |
| 267 | a pollution source. The authority and the Department of |
| 268 | Environmental Protection may enter into interagency agreements |
| 269 | for the performance, funding, and reimbursement for the costs of |
| 270 | the investigative and remedial acts necessary for property |
| 271 | acquired by the authority. |
| 272 | Section 12. Section 349.12, Florida Statutes, is amended |
| 273 | to read: |
| 274 | 349.12 Covenant of the state.--The state does hereby |
| 275 | pledge to, and agree agrees, with any person, firm or |
| 276 | corporation, or federal or state agency subscribing to, or |
| 277 | acquiring the bonds to be issued by the authority for the |
| 278 | purposes of this chapter that the state will not limit or alter |
| 279 | the rights hereby vested in the authority and the department |
| 280 | until all bonds at any time issued, together with the interest |
| 281 | thereon, are fully paid and discharged insofar as the same |
| 282 | affects the rights of the holders of bonds issued hereunder. The |
| 283 | state does further pledge to, and agree, with the United States |
| 284 | and any federal agency that, in the event that any federal |
| 285 | agency shall construct or contribute any funds for the |
| 286 | completion, extension, or improvement of the Jacksonville |
| 287 | Expressway System or other transportation facilities of the |
| 288 | authority, or any part or portion thereof, the state will not |
| 289 | alter or limit the rights and powers of the authority and the |
| 290 | department in any manner that which would be inconsistent with |
| 291 | the continued maintenance and operation of the Jacksonville |
| 292 | Expressway System or other transportation facilities of the |
| 293 | authority or the completion, extension, or improvement thereof, |
| 294 | or that which would be inconsistent with the due performance of |
| 295 | any agreements between the authority and any such federal |
| 296 | agency, and the authority and the department shall continue to |
| 297 | have and may exercise all powers herein granted, so long as the |
| 298 | same shall be necessary or desirable for the carrying out of the |
| 299 | purposes of this chapter and the purposes of the United States |
| 300 | in the completion, extension, or improvement of the Jacksonville |
| 301 | Expressway System or other transportation facilities of the |
| 302 | authority, or any part or portion thereof. |
| 303 | Section 13. Section 349.13, Florida Statutes, is amended |
| 304 | to read: |
| 305 | 349.13 Exemption from taxation.--The effectuation of the |
| 306 | authorized purposes of the authority created under this chapter |
| 307 | is, shall and will be, in all respects for the benefit of the |
| 308 | people of the state, for the increase of their commerce and |
| 309 | prosperity, and for the improvement of their health and living |
| 310 | conditions, and since such authority will be performing |
| 311 | essential governmental functions in effectuating such purposes, |
| 312 | such authority shall not be required to pay any taxes or |
| 313 | assessments of any kind or nature whatsoever upon any property |
| 314 | acquired or used by it for such purposes, or upon any rates, |
| 315 | fees, rentals, receipts, income, or charges at any time received |
| 316 | by it, and the bonds and other obligations issued under this |
| 317 | chapter by the authority, their transfer and the income |
| 318 | therefrom, (including any profits made on the sale thereof), |
| 319 | shall at all times be free from taxation of any kind by the |
| 320 | state, or by any political subdivision, or taxing agency or |
| 321 | instrumentality thereof. The exemption granted by this section |
| 322 | shall not be applicable to any tax imposed by chapter 220 on |
| 323 | interest, income, or profits on debt obligations owned by |
| 324 | corporations. When property of the authority is leased, it shall |
| 325 | be exempt from ad valorem taxes only if the use by the lessee |
| 326 | qualifies the property for exemption under s. 196.199. |
| 327 | Section 14. Section 349.15, Florida Statutes, is amended |
| 328 | to read: |
| 329 | 349.15 Remedies; pledges enforceable by bondholders.--Any |
| 330 | holder of bonds issued under this chapter, except to the extent |
| 331 | such rights may be restricted by the resolution, deed of trust, |
| 332 | indenture, or other proceeding relating to the issuance of such |
| 333 | bonds, may by civil action, mandamus, or other appropriate |
| 334 | action, suit, or proceeding in law or in equity, in any court of |
| 335 | competent jurisdiction, protect and enforce any and all rights |
| 336 | of such bondholder granted under the proceedings authorizing the |
| 337 | issuance of such bonds and enforce any pledge made for payment |
| 338 | of the principal and interest on bonds, or any covenant or |
| 339 | agreement relative thereto, against the authority or directly |
| 340 | against the department, as may be appropriate. It is the express |
| 341 | intention of this chapter that any pledge by the department of |
| 342 | rates, fees, revenues, Duval county gasoline tax funds, or other |
| 343 | funds, as rentals, to the authority or any covenants or |
| 344 | agreements relative thereto may be enforceable in any court of |
| 345 | competent jurisdiction against the authority or directly against |
| 346 | the department by any holder of bonds issued by the authority. |
| 347 | Section 15. Section 349.17, Florida Statutes, is amended |
| 348 | to read: |
| 349 | 349.17 Chapter complete and additional authority.-- |
| 350 | (1) The powers conferred by this chapter shall be in |
| 351 | addition and supplemental to the existing powers of said board |
| 352 | and the Department of Transportation, and this chapter shall not |
| 353 | be construed as repealing any of the provisions of any other |
| 354 | law, general, special, or local, but to supersede such other |
| 355 | laws in the exercise of the powers provided in this chapter, and |
| 356 | to provide a complete method for the exercise of the powers |
| 357 | granted in this chapter. The refunding of any of the bonds of |
| 358 | Florida State Improvement Commission heretofore issued to |
| 359 | finance part of the cost of said Jacksonville Expressway System, |
| 360 | and the completion, extension, and improvement of said system, |
| 361 | and the issuance of bonds hereunder to finance all or part of |
| 362 | the cost thereof, may be accomplished upon compliance with the |
| 363 | provisions of this chapter without regard to or necessity for |
| 364 | compliance with the provisions, limitations, or restrictions |
| 365 | contained in any other general, special, or local law, |
| 366 | including, without limitation, s. 215.821, and no approval of |
| 367 | any bonds issued under this chapter by the qualified electors or |
| 368 | qualified electors who are freeholders in the state or in said |
| 369 | County of Duval, or in said City of Jacksonville, or in any |
| 370 | other political subdivision of the state, shall be required for |
| 371 | the issuance of such bonds pursuant to this chapter. |
| 372 | (2) This chapter shall not be deemed to repeal, rescind, |
| 373 | or modify any other law or laws relating to said State Board of |
| 374 | Administration, said Department of Transportation, or said |
| 375 | Florida State Improvement Commission, but shall be deemed to and |
| 376 | shall supersede such other law or laws in the exercise of the |
| 377 | powers provided in this chapter insofar as such other law or |
| 378 | laws are inconsistent with the provisions of this chapter, |
| 379 | including, without limitation, s. 215.821. |
| 380 | Section 16. Section 349.21, Florida Statutes, is amended |
| 381 | to read: |
| 382 | 349.21 Powers conferred by s. 212.055(1).--Notwithstanding |
| 383 | any other provision of law, any transportation authority created |
| 384 | by this chapter shall have all the powers conferred by s. |
| 385 | 212.055(1). The revenues provided by this section may shall be |
| 386 | used or pledged as set forth in s. 212.055(1), including to pay |
| 387 | principal and interest on bonds issued to refinance existing |
| 388 | bonds or new bonds issued for the construction of rapid transit |
| 389 | systems, bus systems, roads, or bridges, as provided in s. |
| 390 | 212.055(1). In no event may local transportation surtax moneys |
| 391 | collected in Duval County be expended on transportation |
| 392 | facilities outside the boundaries of such county for which tolls |
| 393 | have been pledged. The powers provided by this section shall |
| 394 | expire when all such bonds in existence on the effective date of |
| 395 | this act have been retired. |
| 396 |
|
| 397 |
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| 398 | ----------------------------------------------------- |
| 399 | T I T L E A M E N D M E N T |
| 400 | Remove line 51 and insert: |
| 401 | Jacksonville to the authority; authorizing audits of related |
| 402 | records; removing a requirement that the authority utilize |
| 403 | certain city services; removing a provision authorizing the |
| 404 | authority to employ legal counsel; repealing s. 349.042, F.S., |