Florida Senate - 2012                        COMMITTEE AMENDMENT
       Bill No. SB 1866
       
       
       
       
       
       
                                Barcode 297172                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  02/03/2012           .                                
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       The Committee on Transportation (Benacquisto) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 3303 and 3304
    4  insert:
    5         Section 65. Transfer to the Florida Turnpike Enterprise.
    6  The governance and control of the Mid-Bay Bridge Authority
    7  system, created pursuant to chapter 2000-411, Laws of Florida,
    8  is transferred to the Florida Turnpike Enterprise.
    9         (1)The assets, facilities, tangible and intangible
   10  property, any rights in such property, and any other legal
   11  rights of the authority, including the bridge system operated by
   12  the authority, are transferred to the turnpike enterprise. All
   13  powers of the authority shall succeed to the turnpike
   14  enterprise, and the operations and maintenance of the bridge
   15  system shall be under the control of the turnpike enterprise,
   16  pursuant to this section. Revenues collected on the bridge
   17  system may be considered turnpike revenues and the Mid-Bay
   18  Bridge may be considered part of the turnpike system if bonds of
   19  the authority are not outstanding. The turnpike enterprise also
   20  assumes all liability for bonds of the bridge authority pursuant
   21  to subsection (2). The turnpike enterprise may review other
   22  contracts, financial obligations, and contractual obligations
   23  and liabilities of the authority and may assume legal liability
   24  for such obligations that are determined to be necessary for the
   25  continued operation of the bridge system.
   26         (2)The transfer pursuant to this section is subject to the
   27  terms and covenants provided for the protection of the holders
   28  of the Mid-Bay Bridge Authority bonds in the lease-purchase
   29  agreement and the resolutions adopted in connection with the
   30  issuance of the bonds. Further, the transfer does not impair the
   31  terms of the contract between the authority and the bondholders,
   32  does not act to the detriment of the bondholders, and does not
   33  diminish the security for the bonds. After the transfer, the
   34  turnpike enterprise shall operate and maintain the bridge system
   35  and any other facilities of the authority in accordance with the
   36  terms, conditions, and covenants contained in the bond
   37  resolutions and lease-purchase agreement securing the bonds of
   38  the authority. The turnpike enterprise shall collect toll
   39  revenues and apply them to the payment of debt service as
   40  provided in the bond resolution securing the bonds and shall
   41  expressly assume all obligations relating to the bonds to ensure
   42  that the transfer will have no adverse impact on the security
   43  for the bonds of the authority. The transfer does not make the
   44  obligation to pay the principal and interest on the bonds a
   45  general liability of the turnpike or pledge the turnpike system
   46  revenues to payment of the bonds. Revenues that are generated by
   47  the bridge system and other facilities of the authority and that
   48  were pledged by the authority to the payment of the bonds remain
   49  subject to the pledge for the benefit of the bondholders. The
   50  transfer does not modify or eliminate any prior obligation of
   51  the Department of Transportation to pay certain costs of the
   52  bridge system from sources other than revenues of the bridge
   53  system. With regard to the authority’s current long-term debt of
   54  $16.1 million due to the department as of June 30, 2011, and to
   55  the extent permitted by the bond resolutions and lease-purchase
   56  agreement securing the bonds, the turnpike enterprise shall make
   57  payment annually to the State Transportation Trust Fund for the
   58  purpose of repaying the authority’s long-term debt due to the
   59  department from any bridge system revenues obtained under this
   60  section which remain after the payment of the costs of
   61  operations, maintenance, renewal, and replacement of the bridge
   62  system, the payment of current debt service, and other payments
   63  required in relation to the bonds. The turnpike enterprise shall
   64  make such annual payments, not to exceed $1 million per year, to
   65  the State Transportation Trust Fund until all remaining
   66  authority long-term debt due to the department has been repaid.
   67         (3) Any remaining toll revenue from the facilities of the
   68  Mid-Bay Bridge Authority collected by the Florida Turnpike
   69  Enterprise after meeting the requirements of subsections (1) and
   70  (2) shall be used for the construction, maintenance, or
   71  improvement of any toll facility of the Florida Turnpike
   72  Enterprise within the county or counties in which the revenue
   73  was collected.
   74         Section 66. Paragraph (j) of subsection (2) of section
   75  348.0004, Florida Statutes, is amended to read:
   76         348.0004 Purposes and powers.—
   77         (2) Each authority may exercise all powers necessary,
   78  appurtenant, convenient, or incidental to the carrying out of
   79  its purposes, including, but not limited to, the following
   80  rights and powers:
   81         (j) To pledge, hypothecate, or otherwise encumber all or
   82  any part of the revenues, tolls, rates, fees, rentals, or other
   83  charges or receipts of the authority, including all or any
   84  portion of county gasoline tax funds received by the authority
   85  pursuant to the terms of any lease-purchase agreement between
   86  the authority and the department, as security for all or any of
   87  the obligations of the authority.
   88         Section 67. Subsection (1) of section 348.0005, Florida
   89  Statutes, is amended, and subsection (3) is added to that
   90  section, to read:
   91         348.0005 Bonds.—
   92         (1) Bonds may be issued on behalf of an authority as
   93  provided by the State Bond Act. Bonds may not be issued under
   94  this section unless the resolution authorizing the bonds and
   95  pledging the revenues of a facility requires that the revenues
   96  of the facility be deposited into appropriate accounts in such
   97  sums as are sufficient to pay the costs of operation and
   98  maintenance of any facility for the current fiscal year as set
   99  forth in the annual budget of the authority before any revenues
  100  of the facility are applied to the payment of interest or
  101  principal owing or that may become owing on such bonds.
  102         (3) The provisions of subsection (2) do not apply to any
  103  authority formed on or after July 1, 2012.
  104         Section 68. Section 348.0013, Florida Statutes, is created
  105  to read:
  106         348.0013Department to construct, operate, and maintain
  107  facilities.—
  108         (1) Notwithstanding any other provision of law, this
  109  section applies to an authority formed on or after July 1, 2012.
  110         (2) The department is the agent of each authority for the
  111  purpose of performing all phases of a project, including, but
  112  not limited to, constructing improvements and extensions to an
  113  expressway system and for the completion of the construction.
  114  The division and the authority shall provide to the department
  115  complete copies of the documents, agreements, resolutions,
  116  contracts, and instruments relating to the construction and
  117  shall request that the department perform the construction work,
  118  including the planning, surveying, design, and actual
  119  construction of the completion, extensions, and improvements to
  120  the expressway system. After the issuance of bonds to finance
  121  the construction of an expressway system or improvements to an
  122  expressway system, the division shall transfer to the credit of
  123  an account of the department in the State Treasury the necessary
  124  funds for construction. The department shall proceed with
  125  construction and use the funds for the purpose authorized and as
  126  otherwise provided by law for the construction of roads and
  127  bridges. The authority may alternatively, with the consent and
  128  approval of the department, elect to appoint a local agency
  129  certified by the department to administer federal aid projects
  130  in accordance with federal law as its agent for the purpose of
  131  performing all phases of a project.
  132         (3) An authority that desires to construct an expressway
  133  shall identify the expressway project in a work plan and submit
  134  the work plan along with its budget. The work plan must include
  135  a finance plan that demonstrates the financial feasibility of
  136  the expressway project, including the authority’s ability to
  137  reimburse the department for all costs of operation and
  138  maintenance of the project from the revenues of the authority’s
  139  expressway system. The department shall operate and maintain the
  140  expressway system, and the costs incurred by the department for
  141  operation and maintenance must be reimbursed from revenues of
  142  the expressway system. Each expressway system constructed under
  143  the provisions of this section is a part of the State Highway
  144  System as defined in s. 334.03.
  145         (4) An authority subject to this section may fix, alter,
  146  charge, establish, and collect tolls, rates, fees, rentals, and
  147  other charges for the authority’s facilities, as otherwise
  148  provided in this part.
  149         Section 69. Subsection (4) of section 348.52, Florida
  150  Statutes, is amended to read:
  151         348.52 Tampa-Hillsborough County Expressway Authority.—
  152         (4) The authority may employ an executive a secretary, an
  153  and executive director, its own counsel and legal staff, and
  154  such legal, financial, and other professional consultants,
  155  technical experts, engineers, and employees, permanent or
  156  temporary, as it may require and may determine the
  157  qualifications and fix the compensation of such persons, firms,
  158  or corporations. The authority may contract with the Division of
  159  Bond Finance of the State Board of Administration for any
  160  financial services authorized herein.
  161         Section 70. Subsection (5) of section 348.54, Florida
  162  Statutes, is amended to read:
  163         348.54 Powers of the authority.—Except as otherwise limited
  164  herein, the authority shall have the power:
  165         (5) To enter into and make lease-purchase agreements as
  166  provided in s. 348.60 for terms not exceeding 40 years, or until
  167  all bonds secured by a pledge thereunder, and all refundings
  168  thereof, are fully paid as to both principal and interest,
  169  whichever is longer. The authority is a party to a lease
  170  purchase agreement between the department and the authority
  171  dated November 18, 1997, as supplemented by a supplemental
  172  lease-purchase agreement dated February 7, 2002, and a second
  173  supplemental lease-purchase agreement dated June 23, 2005. The
  174  authority may not enter into other lease-purchase agreements
  175  with the department and may not amend the existing agreement in
  176  a manner that expands or increases the department’s obligations,
  177  unless the department determines that the agreement or amendment
  178  is necessary to permit the refunding of bonds issued before July
  179  1, 2012. The department’s obligations under the lease-purchase
  180  agreement, as supplemented, terminate upon the earlier of:
  181         (a) The defeasance, redemption, or payment in full of the
  182  authority’s bonds issued and outstanding as of July 1, 2012;
  183         (b) The date to which the purchasers of the authority bonds
  184  have consented; or
  185         (c) The date on which termination of the department’s
  186  obligations will occur under the terms of the memorandum of
  187  agreement dated October 26, 2010, between the department and the
  188  authority.
  189         Section 71. Section 348.545, Florida Statutes, is amended
  190  to read:
  191         348.545 Facility improvement; bond financing authority.
  192  Pursuant to s. 11(f), Art. VII of the State Constitution, the
  193  Legislature hereby approves for bond financing by the Tampa
  194  Hillsborough County Expressway Authority improvements to toll
  195  collection facilities, interchanges to the legislatively
  196  approved expressway system, and any other facility appurtenant,
  197  necessary, or incidental to the approved system. Subject to
  198  terms and conditions of applicable revenue bond resolutions and
  199  covenants, such costs may be financed in whole or in part by
  200  revenue bonds issued pursuant to s. 348.56 348.56(1)(a) or (b),
  201  whether currently issued or issued in the future, or by a
  202  combination of such bonds.
  203         Section 72. Subsections (9), (10), (11), and (12) are added
  204  to section 348.56, Florida Statutes, to read:
  205         348.56 Bonds of the authority.—
  206         (9) Notwithstanding any other provision of law to the
  207  contrary, on and after July 1, 2012, the authority may not,
  208  without the department’s consent, request the issuance of any
  209  bonds secured by a pledge of any revenues of the authority which
  210  is senior to, or on a parity with, the authority’s obligation to
  211  fully reimburse the department for the costs of operation,
  212  maintenance, repair, and rehabilitation of the expressway system
  213  paid by the department, except that the authority may request
  214  the issuance of bonds secured by a senior pledge for the purpose
  215  of refunding any authority bonds issued and outstanding as of
  216  July 1, 2012. Refunding bonds authorized by this subsection may
  217  not be issued if such bonds have a final maturity later than the
  218  final maturity of the bonds refunded or if the refunding bonds
  219  provide for higher debt service in any year than the debt
  220  service that is currently paid on such bonds.
  221         (10) Notwithstanding any other provision of law, on and
  222  after July 1, 2012, the authority may not request the issuance
  223  of any bonds, except bonds issued to refund bonds issued before
  224  July 1, 2012, which provide any rights against the department
  225  which may be enforced by the holders of such bonds or debt.
  226  Refunding bonds authorized by this subsection may not be issued
  227  if the bonds have a final maturity later than the final maturity
  228  of the bonds refunded or if the refunding bonds provide for
  229  higher debt service in any year than the debt service that is
  230  currently paid on such bonds. The obligations of the department
  231  under any lease-purchase agreement with the authority, including
  232  any obligation to pay any cost of operation, maintenance,
  233  repair, or rehabilitation of the expressway system, terminate
  234  upon the earlier of:
  235         (a) The defeasance or payment of all authority bonds issued
  236  before July 1, 2012, and authority bonds issued to refund such
  237  bonds;
  238         (b) The earlier date to which the purchasers of the
  239  authority bonds have consented; or
  240         (c) The date on which termination of the department’s
  241  obligations will occur under the terms of the memorandum of
  242  agreement dated October 26, 2010, between the department and the
  243  authority.
  244         (11) Beginning July 1, 2012, except for bonds issued to
  245  refund bonds issued before that date, bonds may not be issued
  246  under this section unless the resolution authorizing the bonds
  247  and pledging the revenues of the expressway system requires that
  248  the revenues of the expressway system be deposited into
  249  appropriate accounts in such sums as are sufficient to pay the
  250  costs of operation and maintenance of the expressway system for
  251  the current fiscal year as set forth in the annual budget of the
  252  authority before any revenues of the expressway system are
  253  applied to the payment of interest or principal owing or that
  254  may become owing on such bonds.
  255         (12) The provisions of paragraph (1)(b) do not apply in any
  256  fiscal year in which the department’s obligations under the
  257  lease-purchase agreement between the department and authority
  258  have not been terminated as provided in s. 348.60 or in which
  259  the authority has not fully reimbursed the department for the
  260  amounts expended, advanced, or paid to the authority in prior
  261  fiscal years for the costs of operation, maintenance, repair,
  262  and rehabilitation of the expressway system. During any such
  263  fiscal year, bonds may be issued only on behalf of the authority
  264  pursuant to the State Bond Act.
  265         Section 73. Section 348.565, Florida Statutes, is amended
  266  to read:
  267         348.565 Revenue bonds for specified projects.—The existing
  268  facilities that constitute the Tampa-Hillsborough County
  269  Expressway System may are hereby approved to be refinanced by
  270  revenue bonds issued by the Division of Bond Finance of the
  271  State Board of Administration pursuant to s. 11(d) 11(f), Art.
  272  VII of the State Constitution and s. 348.56 the State Bond Act
  273  or by revenue bonds issued by the authority pursuant to s.
  274  348.56(1)(b). In addition, the following projects of the Tampa
  275  Hillsborough County Expressway Authority may are approved to be
  276  financed or refinanced by the issuance of revenue bonds in
  277  accordance with this part and s. 11(f), Art. VII of the State
  278  Constitution:
  279         (1) Brandon area feeder roads.
  280         (2) Capital improvements to the expressway system,
  281  including safety and operational improvements and toll
  282  collection equipment.
  283         (3) Lee Roy Selmon Crosstown Expressway System widening.
  284         (4) The connector highway linking the Lee Roy Selmon
  285  Crosstown Expressway to Interstate 4.
  286         Section 74. Subsection (1) of section 348.57, Florida
  287  Statutes, is amended to read:
  288         348.57 Refunding bonds.—
  289         (1) Subject to public notice as provided in s. 348.54, the
  290  authority may request or is authorized to provide by resolution
  291  for the issuance from time to time of bonds pursuant to s.
  292  348.56(1)(b) for the purpose of refunding any bonds then
  293  outstanding regardless of whether the bonds being refunded were
  294  issued by the authority pursuant to this chapter or on behalf of
  295  the authority pursuant to the State Bond Act. The authority may
  296  further request or is further authorized to provide by
  297  resolution for the issuance of bonds pursuant to s. 348.56 for
  298  the combined purpose of:
  299         (a) Paying the cost of constructing, reconstructing,
  300  improving, extending, repairing, maintaining, and operating the
  301  expressway system.
  302         (b) Refunding bonds then outstanding. The authorization,
  303  sale, and issuance of such obligations, the maturities and other
  304  details of the refunding bonds thereof, the rights and remedies
  305  of the holders of the refunding bonds thereof, and the rights,
  306  powers, privileges, duties, and obligations of the authority
  307  with respect to the refunding bonds same are shall be governed
  308  by the foregoing provisions of this part insofar as the same may
  309  be applicable.
  310         Section 75. Subsections (7) and (8) are added to section
  311  348.60, Florida Statutes, to read:
  312         348.60 Lease-purchase agreements.—
  313         (7) The authority is a party to a lease-purchase agreement
  314  between the department and the authority dated November 18,
  315  1997, as supplemented by a supplemental lease-purchase agreement
  316  dated February 7, 2002, and a second supplemental lease-purchase
  317  agreement dated June 23, 2005. The authority may not enter into
  318  any other lease-purchase agreement, or amend the lease-purchase
  319  agreement, unless the department determines that such an
  320  agreement or amendment is necessary to permit the refunding of
  321  bonds issued before July 1, 2012.
  322         (8)Upon the earlier of the defeasance or payment of the
  323  authority bonds issued before July 1, 2012, and any bonds issued
  324  to refund the bonds, or the earlier date to which the purchasers
  325  of the authority bonds have consented:
  326         (a) The obligations of the department under the lease
  327  purchase agreement with the authority, including any obligation
  328  to pay any cost of operation, maintenance, repair, or
  329  rehabilitation of the expressway system, terminates;
  330         (b) The lease-purchase agreement terminates;
  331         (c) The expressway system remains the property of the
  332  authority and may not be transferred to the department;
  333         (d) The authority remains obligated to reimburse the
  334  department for the amounts paid by the department from a source
  335  other than revenues of the expressway system for any cost of
  336  operation, maintenance, repair, or rehabilitation of the
  337  expressway system; and
  338         (e) The department collects tolls for the use of the system
  339  as the agent of the authority as provided in this part.
  340         Section 76. Section 348.615, Florida Statutes, is created
  341  to read:
  342         348.615Department to collect tolls.—
  343         (1) The department is the agent of the authority for the
  344  purpose of collecting tolls for the use of the authority’s
  345  expressway system. The department must be reimbursed for the
  346  costs of collecting such charges from the revenues of the
  347  expressway system. The department may modify its rules regarding
  348  toll collection procedures and the imposition of administrative
  349  charges applicable to the authority’s toll facilities. This
  350  section does not limit the authority of the department under any
  351  other provision of law or under any agreement entered into
  352  before July 1, 2012.
  353         (2)The authority may fix, alter, charge, and establish,
  354  tolls, rates, fees, rentals, and other charges for the
  355  authority’s facilities, as otherwise provided in this part.
  356         Section 77. Paragraph (a) of subsection (4) of section
  357  348.753, Florida Statutes, is amended to read:
  358         348.753 Orlando-Orange County Expressway Authority.—
  359         (4)(a) The authority may employ an executive secretary, an
  360  executive director, its own counsel and legal staff, technical
  361  experts, such engineers, and such employees, permanent or
  362  temporary, as it may require and may determine the
  363  qualifications and fix the compensation of such persons, firms,
  364  or corporations and may employ a fiscal agent or agents,
  365  provided, however, that the authority shall solicit sealed
  366  proposals from at least three persons, firms, or corporations
  367  for the performance of any services as fiscal agents. The
  368  authority may contract with the Division of Bond Finance of the
  369  State Board of Administration for any financial services
  370  authorized in this section. The authority may delegate to one or
  371  more of its agents or employees such of its power as it deems
  372  shall deem necessary to carry out the purposes of this part,
  373  subject always to the supervision and control of the authority.
  374  Members of the authority may be removed from their office by the
  375  Governor for misconduct, malfeasance, misfeasance, or
  376  nonfeasance in office.
  377         Section 78. Paragraph (e) of subsection (2) of section
  378  348.754, Florida Statutes, is amended to read:
  379         348.754 Purposes and powers.—
  380         (2) The authority is hereby granted, and shall have and may
  381  exercise all powers necessary, appurtenant, convenient or
  382  incidental to the carrying out of the aforesaid purposes,
  383  including, but without being limited to, the following rights
  384  and powers:
  385         (e) To enter into and make lease-purchase agreements with
  386  the department for terms not exceeding 40 years, or until any
  387  bonds secured by a pledge of rentals thereunder, and any
  388  refundings thereof, are fully paid as to both principal and
  389  interest, whichever is longer. The authority is a party to a
  390  lease-purchase agreement between the department and the
  391  authority dated December 23, 1985, as supplemented by a first
  392  supplement to the lease-purchase agreement dated November 25,
  393  1986, and a second supplement to the lease-purchase agreement
  394  dated October 27, 1988. The authority may not enter into other
  395  lease-purchase agreements with the department and may not amend
  396  the existing agreement in a manner that expands or increases the
  397  department’s obligations, unless the department determines that
  398  the agreement or amendment is necessary to permit the refunding
  399  of bonds issued before July 1, 2012.
  400         Section 79. Section 348.7543, Florida Statutes, is amended
  401  to read:
  402         348.7543 Improvements, bond financing authority for.
  403  Pursuant to s. 11(f), Art. VII of the State Constitution, the
  404  Legislature hereby approves for bond financing by the Orlando
  405  Orange County Expressway Authority improvements to toll
  406  collection facilities, interchanges to the legislatively
  407  approved expressway system, and any other facility appurtenant,
  408  necessary, or incidental to the approved system. Subject to
  409  terms and conditions of applicable revenue bond resolutions and
  410  covenants, such costs may be financed in whole or in part by
  411  revenue bonds issued pursuant to s. 348.755 348.755(1)(a) or (b)
  412  whether currently issued or issued in the future, or by a
  413  combination of such bonds.
  414         Section 80. Section 348.7545, Florida Statutes, is amended
  415  to read:
  416         348.7545 Western Beltway Part C, construction authorized;
  417  financing.—Notwithstanding s. 338.2275, the Orlando-Orange
  418  County Expressway Authority is authorized to exercise its
  419  condemnation powers, construct, finance, operate, own, and
  420  maintain that portion of the Western Beltway known as the
  421  Western Beltway Part C, extending from Florida’s Turnpike near
  422  Ocoee in Orange County southerly through Orange and Osceola
  423  Counties to an interchange with I-4 near the Osceola-Polk County
  424  line, as part of the authority’s 20-year capital projects plan.
  425  This project may be financed with any funds available to the
  426  authority for such purpose or revenue bonds issued by the
  427  Division of Bond Finance of the State Board of Administration on
  428  behalf of the authority pursuant to s. 11, Art. VII of the State
  429  Constitution and the State Bond Act, ss. 215.57-215.83. This
  430  project may be refinanced with bonds issued by the authority
  431  pursuant to s. 348.755(1)(d).
  432         Section 81. Section 348.7547, Florida Statutes, is amended
  433  to read:
  434         348.7547 Maitland Boulevard Extension and Northwest Beltway
  435  Part A Realignment construction authorized; financing.
  436  Notwithstanding s. 338.2275, the Orlando-Orange County
  437  Expressway Authority is hereby authorized to exercise its
  438  condemnation powers, construct, finance, operate, own, and
  439  maintain the portion of State Road 414 known as the Maitland
  440  Boulevard Extension and the realigned portion of the Northwest
  441  Beltway Part A as part of the authority’s long-range capital
  442  improvement plan. The Maitland Boulevard Extension will extend
  443  from the current terminus of State Road 414 at U.S. 441 west to
  444  State Road 429 in west Orange County. The realigned portion of
  445  the Northwest Beltway Part A will run from the point at or near
  446  where the Maitland Boulevard Extension will connect with State
  447  Road 429 and will proceed to the west and then north resulting
  448  in the northern terminus of State Road 429 moving farther west
  449  before reconnecting with U.S. 441. However, under no
  450  circumstances shall the realignment of the Northwest Beltway
  451  Part A conflict or contradict with the alignment of the Wekiva
  452  Parkway as defined in s. 348.7546. This project may be financed
  453  with any funds available to the authority for such purpose or
  454  revenue bonds issued by or on behalf of the authority under s.
  455  11, Art. VII of the State Constitution and s. 348.755(1)(b).
  456         Section 82. Subsections (6), (7), (8), and (9) are added to
  457  section 348.755, Florida Statutes, to read:
  458         348.755 Bonds of the authority.—
  459         (6) Notwithstanding any other provision of law to the
  460  contrary, on and after July 1, 2012, the authority may not
  461  request the issuance of any bonds, except bonds issued to refund
  462  bonds issued before July 1, 2012, which provide any rights
  463  against the department which may be enforced by the holders of
  464  such bonds or debt. Refunding bonds may not be issued if the
  465  bonds have a final maturity later than the final maturity of the
  466  bonds refunded or if the refunding bonds provide for higher debt
  467  service in any year than the debt service that is currently paid
  468  on such bonds. Upon the earlier of the defeasance or payment of
  469  all authority bonds issued before July 1, 2012, or the
  470  defeasance or payment of the authority bonds issued to refund
  471  such bonds, or such earlier date to which the purchasers of the
  472  authority bonds have consented, the obligations of the
  473  department under any lease-purchase agreement with the
  474  authority, including any obligation to pay any cost of
  475  operation, maintenance, repair, or rehabilitation of the
  476  Orlando-Orange County Expressway System, terminate.
  477         (7) Notwithstanding any other provision of law to the
  478  contrary, on and after July 1, 2012, the authority may not,
  479  without the department’s consent, request the issuance of any
  480  bonds secured by a pledge of any revenues of the authority which
  481  is senior to, or on a parity with, the authority’s obligation to
  482  fully reimburse the department for the costs of operation,
  483  maintenance, repair, and rehabilitation of the Orlando-Orange
  484  County Expressway System paid by the department, except that the
  485  authority may request the issuance of bonds secured by a senior
  486  pledge for the purpose of refunding authority bonds issued and
  487  outstanding as of July 1, 2012. Refunding bonds authorized by
  488  this subsection may not be issued if the bonds have a final
  489  maturity later than the final maturity of the bonds refunded or
  490  if the refunding bonds provide for higher debt service in any
  491  year than the debt service that is currently paid on the bonds.
  492         (8) Beginning July 1, 2012, the authority may not issue
  493  bonds, except bonds issued to refund bonds issued before such
  494  date, unless the resolution authorizing the bonds and pledging
  495  the revenues of the Orlando-Orange County Expressway System
  496  requires that the revenues of the expressway system be deposited
  497  into appropriate accounts in such sums as are sufficient to pay
  498  the costs of operation and maintenance of the Orlando-Orange
  499  County Expressway System for the current fiscal year as set
  500  forth in the annual budget of the authority before any revenues
  501  of the Orlando-Orange County Expressway System are applied to
  502  the payment of interest or principal owing or that may become
  503  owing on such bonds.
  504         (9) The provisions of paragraphs (1)(b) and (d) do not
  505  apply in any fiscal year in which the department’s obligations
  506  under the lease-purchase agreement between the department and
  507  authority have not been terminated as provided in s. 348.757 or
  508  in which the authority has not fully reimbursed the department
  509  for all amounts expended, advanced, or paid to the authority in
  510  prior fiscal years for the costs of operation, maintenance,
  511  repair, and rehabilitation of the expressway system. During any
  512  such fiscal year, bonds may only be issued on behalf of the
  513  authority pursuant to the State Bond Act.
  514         Section 83. Subsections (8) and (9) are added to section
  515  348.757, Florida Statutes, to read:
  516         348.757 Lease-purchase agreement.—
  517         (8) The only lease-purchase agreement authorized by this
  518  section is the lease-purchase agreement between the department
  519  and the authority dated December 23, 1985, as supplemented by a
  520  first supplement to the lease-purchase agreement dated November
  521  25, 1986, and a second supplement to the lease-purchase
  522  agreement dated October 27, 1988. The authority may not enter
  523  into any other lease-purchase agreements with the department and
  524  may not amend the existing agreement in a manner that expands
  525  the scope of the department’s obligations, unless the department
  526  determines the agreement or amendment is necessary to permit the
  527  refunding of bonds issued before July 1, 2012.
  528         (9) The department’s obligations under the lease-purchase
  529  agreement between the department and the authority dated
  530  December 23, 1985, as supplemented by a first supplement to the
  531  lease-purchase agreement dated November 25, 1986, and a second
  532  supplement to the lease-purchase agreement dated October 27,
  533  1988, terminate upon the earlier of the defeasance, redemption,
  534  or payment in full of the authority’s bonds issued and
  535  outstanding as of July 1, 2012, or bonds to refund such bonds,
  536  or such earlier date to which the purchasers of the authority
  537  bonds have consented.
  538         Section 84. Section 348.7585, Florida Statutes, is created
  539  to read:
  540         348.7585Department to collect tolls.—
  541         (1) The department is the agent of the authority for the
  542  purpose of collecting tolls for the use of the authority’s
  543  expressway system. The department shall be reimbursed from the
  544  revenues of the expressway system for the costs of collecting
  545  the tolls. The department may modify its rules regarding toll
  546  collection procedures and the imposition of administrative
  547  charges to be applicable to the authority’s toll facilities.
  548  This section does not limit the authority of the department
  549  under any other provision of law or under any agreement entered
  550  into prior to July 1, 2012.
  551         (2)The authority may fix, alter, charge, and establish
  552  tolls, rates, fees, rentals, and other charges for the
  553  authority’s facilities, as otherwise provided in this section.
  554         Section 85. Paragraph (a) of subsection (4) of section
  555  348.9952, Florida Statutes, is amended to read:
  556         348.9952 Osceola County Expressway Authority.—
  557         (4)(a) The authority may employ an executive secretary, an
  558  executive director, its own counsel and legal staff, technical
  559  experts, engineers, and other employees, permanent or temporary,
  560  as it may require, and may determine the qualifications and fix
  561  the compensation of such persons, firms, or corporations.
  562  Additionally, the authority may employ a fiscal agent or agents.
  563  However, the authority shall solicit sealed proposals from at
  564  least three persons, firms, or corporations for the performance
  565  of any services as fiscal agents. The authority may delegate to
  566  one or more of its agents or employees such of its power as it
  567  deems necessary to carry out the purposes of this part, subject
  568  always to the supervision and control of the authority.
  569         Section 86. Section 348.9956, Florida Statutes, is
  570  repealed.
  571         Section 87. Section 348.99565, Florida Statutes, is created
  572  to read:
  573         348.99565Department to construct, operate, and maintain
  574  facilities.—
  575         (1)The department is the agent of the authority for the
  576  purpose of performing all phases of a project, including, but
  577  not limited to, constructing improvements and extensions to the
  578  expressway system. The division and the authority shall provide
  579  to the department complete copies of all documents, agreements,
  580  resolutions, contracts, and instruments relating to the project
  581  and shall request that the department perform the construction
  582  work, including the planning, surveying, design, and actual
  583  construction of the completion, extensions, and improvements to
  584  the expressway system. After the issuance of bonds to finance
  585  construction of any improvements or additions to the expressway
  586  system, the division shall transfer to the credit of an account
  587  of the department in the State Treasury the necessary funds for
  588  construction. The department shall proceed with construction and
  589  use the funds for the purpose authorized and as provided by law
  590  for the construction of roads and bridges. The authority may
  591  alternatively, with the consent and approval of the department,
  592  elect to appoint a local agency certified by the department to
  593  administer federal aid projects in accordance with federal law
  594  as its agent for the purpose of performing all phases of a
  595  project.
  596         (2) If the authority desires to construct improvements or
  597  extensions to the expressway system, it shall identify the
  598  expressway improvement project in a work plan and submit the
  599  work plan with its budget. The work plan must include a finance
  600  plan that demonstrates the financial feasibility of the
  601  expressway project, including the authority’s ability to
  602  reimburse the department for all costs of operation and
  603  maintenance of the improvements or extensions from the revenues
  604  of the expressway system. The department shall operate and
  605  maintain the expressway system, and the costs incurred by the
  606  department for operation and maintenance shall be reimbursed
  607  from revenues of the expressway system. The expressway system
  608  shall be part of the State Highway System as defined in s.
  609  334.03.
  610         (3)The authority may fix, alter, charge, establish, and
  611  collect tolls, rates, fees, rentals, and other charges for the
  612  authority’s facilities, as otherwise provided in this part.
  613         Section 88. The Florida Transportation Commission shall
  614  conduct a study of the potential for cost savings that might be
  615  realized through increased efficiencies through sharing of
  616  resources for the accomplishment of design, construction, and
  617  maintenance activities by or on behalf of expressway authorities
  618  in the state. The commission may retain such experts as are
  619  reasonably necessary to complete the study, and the department
  620  shall pay the expenses of such experts. The commission shall
  621  complete the study and provide a written report of its findings
  622  and conclusions to the Governor, the President of the Senate,
  623  the Speaker of the House of Representatives, and the chairs of
  624  each of the appropriations committees by December 31, 2012.
  625  
  626  ================= T I T L E  A M E N D M E N T ================
  627         And the title is amended as follows:
  628         Delete line 248
  629  and insert:
  630         authority; transferring control of the Mid-Bay Bridge
  631         Authority system to the Florida Turnpike Enterprise;
  632         transferring all assets, rights, powers, duties, and
  633         bond liabilities of the authority to the turnpike
  634         enterprise; transferring all provisions that protect
  635         the rights of certain bondholders from the authority
  636         to the turnpike enterprise; providing for the turnpike
  637         enterprise to annually transfer funds from the
  638         activities of the transferred authority to the State
  639         Transportation Trust Fund to repay certain long-term
  640         debt; requiring that specific toll revenue be used for
  641         the construction, maintenance, or improvement of
  642         certain toll facilities of the turnpike enterprise;
  643         amending s. 348.0004, F.S.; removing provisions
  644         qualifying funding received by an authority from a
  645         portion of the county gasoline tax funds; amending s.
  646         348.0005, F.S.; providing criteria under which bonds
  647         may be issued; providing an exception to the
  648         application of certain bond requirements; creating s.
  649         348.0013, F.S., relating to expressway authorities
  650         created on or after a specified date; providing that
  651         the department is the agent for the purpose of
  652         performing all phases of constructing improvements to
  653         and extensions of an expressway system; requiring that
  654         the Division of Bond Finance and the authority provide
  655         certain construction documents to the department;
  656         providing for payment and the use of funds for the
  657         construction; requiring that an authority identify an
  658         expressway project in the authority’s work plan and
  659         submit the work plan along with its budget; requiring
  660         that the work plan include certain information;
  661         requiring that the department operate and maintain the
  662         expressway system; requiring that the costs incurred
  663         by the department be reimbursed from revenues of the
  664         expressway system; providing that an expressway system
  665         is part of the State Highway System; authorizing the
  666         authority to collect tolls, fees, and other charges;
  667         amending s. 348.52, F.S.; authorizing the Tampa
  668         Hillsborough County Expressway Authority to employ
  669         certain personnel; amending s. 348.54, F.S.; providing
  670         for the powers of the authority with respect to
  671         certain lease-purchase agreements; amending s.
  672         348.545, F.S.; conforming cross-references; amending
  673         s. 348.56, F.S.; restricting the authority’s ability
  674         to request the issuance of bonds; providing criteria
  675         for refunding bonds; prohibiting the authority from
  676         requesting the issuance of bonds having certain rights
  677         against the department; providing criteria for bonds
  678         issued on or after a certain date; amending s.
  679         348.565, F.S.; conforming provisions; removing from
  680         the list of approved projects for the Tampa
  681         Hillsborough County Expressway System the connector
  682         highway linking Lee Roy Selmon Crosstown Expressway to
  683         Interstate 4; amending s. 348.57, F.S., relating to
  684         refunding bonds; conforming references and provisions;
  685         amending s. 348.60, F.S.; providing that the Tampa
  686         Hillsborough County Expressway Authority is a party to
  687         lease-purchase agreements between the department and
  688         the authority which are dated on specified dates;
  689         prohibiting the authority from entering into other
  690         lease-purchase agreements or amending the lease
  691         purchase agreement unless the department determines an
  692         agreement or amendment is necessary to permit
  693         refunding of certain bonds; providing that the
  694         expressway system remains the property of the
  695         authority if the lease-purchase agreement terminates;
  696         providing that the authority remains obligated to
  697         reimburse the department if the agreement terminates;
  698         requiring that the department operate and maintain the
  699         system as the agent of the authority; creating s.
  700         348.615, F.S.; providing that the department is the
  701         agent for purposes of collcting tolls; authorizing the
  702         authority to establish tolls, fees, and other charges;
  703         amending s. 348.753, F.S.; authorizing the Orlando
  704         Orange County Expressway Authority to contract with
  705         the Division of Bond Finance for certain financial
  706         services; amending s. 348.754, F.S.; providing that
  707         the transportation authority is a party to specified
  708         lease-purchase agreements between the department and
  709         the authority; prohibiting the authority from entering
  710         into other lease-purchase agreements or amending a
  711         specified lease-purchase agreement; amending s.
  712         348.7543, F.S.; conforming a cross-reference and
  713         revising provisions governing the issuance of bonds;
  714         amending ss. 348.7545 and 348.7547, F.S.; conforming
  715         cross-references; amending s. 348.755, F.S.;
  716         restricting the authority’s ability to request the
  717         issuance of bonds; prohibiting the authority from
  718         requesting the issuance of refunding bonds under
  719         certain circumstances; providing conditions for
  720         issuing certain bonds; amending s. 348.757, F.S.;
  721         limiting certain authorized lease-purchase agreements;
  722         prohibiting the authority from entering into or
  723         amending certain lease-purchase agreements; providing
  724         for the termination of the department’s obligations
  725         under certain lease-purchase agreements; creating s.
  726         348.7585, F.S.; providing that the department is the
  727         agent for purposes collecting tolls; authorizing the
  728         authority to establish tolls, fees, and other charges;
  729         conforming provisions; amending s. 348.9952, F.S.;
  730         removing provisions authorizing the Osceola County
  731         Expressway Authority to employ a fiscal agent;
  732         repealing s. 348.9956, F.S., relating to the
  733         appointment of the department as the agent of the
  734         authority for construction; creating s. 348.99565,
  735         F.S.; providing that the department is the agent for
  736         purposes of performing all phases of constructing
  737         improvements and extensions to the Orlando-Orange
  738         County Expressway System; requiring that the Division
  739         of Bond Finance and the expressway authority provide
  740         construction documents to the department; providing
  741         for payment and use of funds for the construction;
  742         providing guidelines that the authority must follow if
  743         it proposes construction of an expressway; authorizing
  744         the authority to collect tolls, fees, and other
  745         charges; requiring the Florida Transportation
  746         Commission to study the potential costs savings of the
  747         department being the operating agent for certain
  748         expressway authorities; amending s. 349.04, F.S.;
  749         authorizing the