Florida Senate - 2014                          SENATOR AMENDMENT
       Bill No. HB 5601
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Floor: WD            .                                
             05/01/2014 11:30 AM       .                                

       Senator Latvala moved the following:
    2         Senate Amendment to Amendment (965938) (with title
    3  amendment)
    4         Between lines 1284 and 1285
    5  insert:
    6         Section 21. Section 345.0001, Florida Statutes, is created
    7  to read:
    8         345.0001 Short title.—This act may be cited as the “West
    9  Florida Regional Economic Infrastructure Development Authority
   10  Act.”
   11         Section 22. Section 345.0002, Florida Statutes, is created
   12  to read:
   13         345.0002 Definitions.—As used in this chapter, the term:
   14         (1)“Agency of the state” means the state and any
   15  department of, or any corporation, agency, or instrumentality
   16  created, designated, or established by, the state.
   17         (2)“Area served” means Escambia County. However, upon a
   18  contiguous county’s consent to inclusion within the area served
   19  by the authority and with the agreement of the authority, the
   20  term shall also include the geographical area of such county
   21  contiguous to Escambia County.
   22         (3)“Authority” means the West Florida Regional Economic
   23  Infrastructure Development Authority, a body politic and
   24  corporate, and an agency of the state, established under this
   25  chapter.
   26         (4)“Bonds” means the notes, bonds, refunding bonds, or
   27  other evidences of indebtedness or obligations, in temporary or
   28  definitive form, which the authority may issue under this
   29  chapter.
   30         (5)“Department” means the Department of Transportation.
   31         (6)“Division” means the Division of Bond Finance of the
   32  State Board of Administration.
   33         (7)“Federal agency” means the United States, the President
   34  of the United States, and any department of, or any bureau,
   35  corporation, agency, or instrumentality created, designated, or
   36  established by, the United States Government.
   37         (8)“Members” means the governing body of the authority,
   38  and the term “member” means one of the individuals constituting
   39  such governing body.
   40         (9)“Regional system” or “system” means, generally, a
   41  modern system of roads, bridges, causeways, tunnels, and mass
   42  transit services within the area of the authority, with access
   43  limited or unlimited as the authority may determine, and the
   44  buildings and structures and appurtenances and facilities
   45  related to the system, including all approaches, streets, roads,
   46  bridges, and avenues of access for the system.
   47         (10)“Revenues” means the tolls, revenues, rates, fees,
   48  charges, receipts, rentals, contributions, and other income
   49  derived from or in connection with the operation or ownership of
   50  a regional system, including the proceeds of any use and
   51  occupancy insurance on any portion of the system, but excluding
   52  state funds available to the authority and any other municipal
   53  or county funds available to the authority under an agreement
   54  with a municipality or county.
   55         Section 23. Section 345.0003, Florida Statutes, is created
   56  to read:
   57         345.0003 Economic infrastructure development authority;
   58  formation; membership.
   59         (1) Escambia County, alone or together with any consenting
   60  contiguous county, may form a regional finance authority for the
   61  purposes of constructing, maintaining, and operating
   62  transportation projects in the northwest region of this state.
   63  The authority shall be governed in accordance with this chapter.
   64  The area served by the authority may not be expanded beyond
   65  Escambia County without the approval of the county commission of
   66  each contiguous county that will be a part of the authority.
   67         (2) The governing body of the authority shall consist of a
   68  board of voting members as follows:
   69         (a)The county commission of each county in the area served
   70  by the authority shall appoint two members. Each member must be
   71  a resident of the county from which he or she is appointed and,
   72  if possible, must represent the business and civic interests of
   73  the community.
   74         (b)The Governor shall appoint an equal number of members
   75  to the board as those appointed by each county commission. The
   76  members appointed by the Governor must be residents of the area
   77  served by the authority.
   78         (c)One member shall be the district secretary of the
   79  Department of Transportation serving in the district that
   80  contains Escambia County.
   81         (3) The term of office of each member shall be for 4 years
   82  or until his or her successor is appointed and qualified.
   83         (4) A member may not hold an elected office during the term
   84  of his or her membership.
   85         (5)A vacancy occurring in the governing body before the
   86  expiration of the member’s term shall be filled for the balance
   87  of the unexpired term by the respective appointing authority in
   88  the same manner as the original appointment.
   89         (6)Before entering upon his or her official duties, each
   90  member must take and subscribe to an oath before an official
   91  authorized by law to administer oaths that he or she will
   92  honestly, faithfully, and impartially perform the duties of his
   93  or her office as a member of the governing body of the authority
   94  and that he or she will not neglect any duties imposed upon him
   95  or her by this chapter.
   96         (7) The Governor may remove from office a member for
   97  misconduct, malfeasance, misfeasance, or nonfeasance in office.
   98         (8)The members of the authority shall designate a chair
   99  from among the membership.
  100         (9)The members shall serve without compensation, but are
  101  entitled to reimbursement for per diem and other expenses in
  102  accordance with s. 112.061 while in performance of their duties.
  103         (10)A majority of the members shall constitute a quorum,
  104  and resolutions enacted or adopted by a vote of a majority of
  105  the members present and voting at any meeting are effective
  106  without publication, posting, or any further action of the
  107  authority.
  108         Section 24. Section 345.0004, Florida Statutes, is created
  109  to read:
  110         345.0004 Powers and duties.
  111         (1)The authority shall plan, develop, finance, construct,
  112  reconstruct, improve, own, operate, and maintain a regional
  113  system in the area served by the authority. The authority may
  114  not exercise these powers with respect to an existing system for
  115  transporting people and goods by any means that is owned by
  116  another entity without the consent of that entity. If the
  117  authority acquires, purchases, or inherits an existing entity,
  118  the authority shall inherit and assume all rights, assets,
  119  appropriations, privileges, and obligations of the existing
  120  entity.
  121         (2)The authority may exercise all powers necessary,
  122  appurtenant, convenient, or incidental to the carrying out of
  123  the purposes of this section, including, but not limited to, the
  124  following rights and powers:
  125         (a)To sue and be sued, implead and be impleaded, and
  126  complain and defend in all courts in its own name.
  127         (b)To adopt and use a corporate seal.
  128         (c)To have the power of eminent domain, including the
  129  procedural powers granted under chapters 73 and 74.
  130         (d)To acquire, purchase, hold, lease as a lessee, and use
  131  any property, real, personal, or mixed, tangible or intangible,
  132  or any interest therein, necessary or desirable for carrying out
  133  the purposes of the authority.
  134         (e)To sell, convey, exchange, lease, or otherwise dispose
  135  of any real or personal property acquired by the authority,
  136  including air rights, which the authority and the department
  137  have determined is not needed for the construction, operation,
  138  and maintenance of the system.
  139         (f)To fix, alter, charge, establish, and collect rates,
  140  fees, rentals, and other charges for the use of any system owned
  141  or operated by the authority, which rates, fees, rentals, and
  142  other charges must be sufficient to comply with any covenants
  143  made with the holders of any bonds issued under this act;
  144  however, such right and power may be assigned or delegated by
  145  the authority to the department.
  146         (g)To borrow money; make and issue negotiable notes,
  147  bonds, refunding bonds, and other evidences of indebtedness or
  148  obligations, in temporary or definitive form, to finance all or
  149  part of the improvement of the authority’s system and
  150  appurtenant facilities, including the approaches, streets,
  151  roads, bridges, and avenues of access for the system and for any
  152  other purpose authorized by this chapter, the bonds to mature no
  153  more than 30 years after the date of the issuance; to secure the
  154  payment of such bonds or any part thereof by a pledge of its
  155  revenues, rates, fees, rentals, or other charges, including
  156  municipal or county funds received by the authority under an
  157  agreement between the authority and a municipality or county;
  158  and, in general, to provide for the security of the bonds and
  159  the rights and remedies of the holders of the bonds. However,
  160  municipal or county funds may not be pledged for the
  161  construction of a project for which a toll is to be charged
  162  unless the anticipated tolls are reasonably estimated by the
  163  governing board of the municipality or county, on the date of
  164  its resolution pledging the funds, to be sufficient to cover the
  165  principal and interest of such obligations during the period
  166  when the pledge of funds is in effect.
  167         1.The authority shall reimburse a municipality or county
  168  for sums spent from municipal or county funds used for the
  169  payment of the bond obligations.
  170         2.If the authority elects to fund or refund bonds issued
  171  by the authority before the maturity of the bonds, the proceeds
  172  of the funding or refunding bonds shall, pending the prior
  173  redemption of the bonds to be funded or refunded, be invested in
  174  direct obligations of the United States, and the outstanding
  175  bonds may be funded or refunded by the issuance of bonds under
  176  this chapter.
  177         (h)To make contracts of every name and nature, including,
  178  but not limited to, partnerships providing for participation in
  179  ownership and revenues, and to execute each instrument necessary
  180  or convenient for the conduct of its business.
  181         (i)Without limitation of the foregoing, to cooperate with,
  182  to accept grants from, and to enter into contracts or other
  183  transactions with any federal agency, the state, or any agency
  184  or any other public body of the state.
  185         (j)To employ an executive director, attorney, staff, and
  186  consultants. Upon the request of the authority, the department
  187  shall furnish the services of a department employee to act as
  188  the executive director of the authority.
  189         (k)To accept funds or other property from private
  190  donations.
  191         (l)To act and do things necessary or convenient for the
  192  conduct of its business and the general welfare of the
  193  authority, in order to carry out the powers granted to it by
  194  this act or any other law.
  195         (3)The authority may not pledge the credit or taxing power
  196  of the state or a political subdivision or agency of the state.
  197  Obligations of the authority may not be considered to be
  198  obligations of the state or of any other political subdivision
  199  or agency of the state. Except for the authority, the state or
  200  any political subdivision or agency of the state is not liable
  201  for the payment of the principal of or interest on such
  202  obligations.
  203         (4)The authority may not, other than by consent of the
  204  affected county or an affected municipality, enter into an
  205  agreement that would legally prohibit the construction of a road
  206  by the county or the municipality.
  207         (5)The authority shall comply with the statutory
  208  requirements of general application which relate to the filing
  209  of a report or documentation required by law, including the
  210  requirements of ss. 189.4085, 189.415, 189.417, and 189.418.
  211         Section 25. Section 345.0005, Florida Statutes, is created
  212  to read:
  213         345.0005 Bonds.
  214         (1)Bonds may be issued on behalf of the authority pursuant
  215  to the State Bond Act in such principal amount as, in the
  216  opinion of the authority, shall be necessary to provide
  217  sufficient moneys for achieving its corporate purposes,
  218  including construction, reconstruction, improvement, extension,
  219  and repair of the regional system, the cost of acquisition of
  220  all real property, interest on bonds during construction and for
  221  a reasonable period thereafter, and establishment of reserves to
  222  secure bonds.
  223         (2) Bonds issued on behalf of the authority under
  224  subsection (1) must:
  225         (a)Be authorized by resolution of the members and bear
  226  such date or dates; mature at such time or times, not exceeding
  227  30 years after their respective dates; bear interest at such
  228  rate or rates, not exceeding the maximum rate fixed by general
  229  law for authorities; be in such denominations; be in such form,
  230  either coupon or fully registered; carry such registration,
  231  exchangeability, and interchangeability privileges; be payable
  232  in such medium of payment and at such place or places; be
  233  subject to such terms of redemption; and be entitled to such
  234  priorities of lien on the revenues and other available moneys as
  235  such resolution or any resolution after the bonds’ issuance
  236  provides.
  237         (b)Be sold at public sale in the manner provided in the
  238  State Bond Act. Temporary bonds or interim certificates may be
  239  issued to the purchaser or purchasers of such bonds pending the
  240  preparation of definitive bonds and may contain such terms and
  241  conditions as determined by the authority.
  242         (3)A resolution that authorizes bonds may specify
  243  provisions that must be part of the contract with the holders of
  244  the bonds as to:
  245         (a)The pledging of all or any part of the revenues,
  246  available municipal or county funds, or other charges or
  247  receipts of the authority derived from the regional system.
  248         (b)The construction, reconstruction, improvement,
  249  extension, repair, maintenance, and operation of the system, or
  250  any part or parts of the system, and the duties and obligations
  251  of the authority with reference thereto.
  252         (c)Limitations on the purposes to which the proceeds of
  253  the bonds, then or thereafter issued, or of any loan or grant by
  254  any federal agency or the state or any political subdivision of
  255  the state may be applied.
  256         (d)The fixing, charging, establishing, revising,
  257  increasing, reducing, and collecting of tolls, rates, fees,
  258  rentals, or other charges for use of the services and facilities
  259  of the system or any part of the system.
  260         (e)The setting aside of reserves or of sinking funds and
  261  the regulation and disposition of the reserves or sinking funds.
  262         (f)Limitations on the issuance of additional bonds.
  263         (g)The terms of any deed of trust or indenture securing
  264  the bonds, or under which the bonds may be issued.
  265         (h)Any other or additional matters, of like or different
  266  character, which in any way affect the security or protection of
  267  the bonds.
  268         (4)The authority may enter into deeds of trust,
  269  indentures, or other agreements with banks or trust companies
  270  within or without the state, as security for such bonds, and
  271  may, under such agreements, assign and pledge any of the
  272  revenues and other available moneys, including any available
  273  municipal or county funds, under the terms of this chapter. The
  274  deed of trust, indenture, or other agreement may contain
  275  provisions that are customary in such instruments or that the
  276  authority may authorize, including, but without limitation,
  277  provisions that:
  278         (a)Pledge any part of the revenues or other moneys
  279  lawfully available.
  280         (b)Apply funds and safeguard funds on hand or on deposit.
  281         (c)Provide for the rights and remedies of the trustee and
  282  the holders of the bonds.
  283         (d)Provide for the terms of the bonds or for resolutions
  284  authorizing the issuance of the bonds.
  285         (e)Provide for any other or additional matters, of like or
  286  different character, which affect the security or protection of
  287  the bonds.
  288         (5)Bonds issued under this act are negotiable instruments
  289  and have the qualities and incidents of negotiable instruments
  290  under the law merchant and the negotiable instruments law of the
  291  state.
  292         (6) A resolution that authorizes the issuance of authority
  293  bonds and pledges the revenues of the system must require that
  294  revenues of the system be periodically deposited into
  295  appropriate accounts in sufficient sums to pay the costs of
  296  operation and maintenance of the system for the current fiscal
  297  year as set forth in the annual budget of the authority and to
  298  reimburse the department for any unreimbursed costs of operation
  299  and maintenance of the system from prior fiscal years before
  300  revenues of the system are deposited into accounts for the
  301  payment of interest or principal owing or that may become owing
  302  on such bonds.
  303         (7) State funds may not be used or pledged to pay the
  304  principal or interest of any authority bonds, and all such bonds
  305  must contain a statement on their face to this effect.
  306         Section 26. Section 345.0006, Florida Statutes, is created
  307  to read:
  308         345.0006 Remedies of bondholders.
  309         (1)The rights and the remedies granted to authority
  310  bondholders under this chapter are in addition to and not in
  311  limitation of any rights and remedies lawfully granted to such
  312  bondholders by the resolution or indenture providing for the
  313  issuance of bonds, or by any deed of trust, indenture, or other
  314  agreement under which the bonds may be issued or secured. If the
  315  authority defaults in the payment of the principal or interest
  316  on the bonds issued under this chapter after such principal or
  317  interest becomes due, whether at maturity or upon call for
  318  redemption, as provided in the resolution or indenture, and such
  319  default continues for 30 days, or if the authority fails or
  320  refuses to comply with this chapter or any agreement made with,
  321  or for the benefit of, the holders of the bonds, the holders of
  322  25 percent in aggregate principal amount of the bonds then
  323  outstanding are entitled as of right to the appointment of a
  324  trustee to represent such bondholders for the purposes of the
  325  default if the holders of 25 percent in aggregate principal
  326  amount of the bonds then outstanding first gave written notice
  327  to the authority and to the department of their intention to
  328  appoint a trustee.
  329         (2)The trustee and a trustee under a deed of trust,
  330  indenture, or other agreement may, or upon the written request
  331  of the holders of 25 percent or such other percentages specified
  332  in any deed of trust, indenture, or other agreement, in
  333  principal amount of the bonds then outstanding, shall, in any
  334  court of competent jurisdiction, in its own name:
  335         (a)By mandamus or other suit, action, or proceeding at
  336  law, or in equity, enforce all rights of the bondholders,
  337  including the right to require the authority to fix, establish,
  338  maintain, collect, and charge rates, fees, rentals, and other
  339  charges, adequate to carry out any agreement as to, or pledge
  340  of, the revenues, and to require the authority to carry out any
  341  other covenants and agreements with or for the benefit of the
  342  bondholders, and to perform its and their duties under this
  343  chapter.
  344         (b)Bring suit upon the bonds.
  345         (c)By action or suit in equity, require the authority to
  346  account as if it were the trustee of an express trust for the
  347  bondholders.
  348         (d)By action or suit in equity, enjoin any acts or things
  349  that may be unlawful or in violation of the rights of the
  350  bondholders.
  351         (3)A trustee, if appointed under this section or acting
  352  under a deed of trust, indenture, or other agreement, and
  353  regardless of whether all bonds have been declared due and
  354  payable, is entitled to the appointment of a receiver. The
  355  receiver may enter upon and take possession of the system or the
  356  facilities or any part or parts of the system, the revenues, and
  357  other pledged moneys, for and on behalf of and in the name of,
  358  the authority and the bondholders. The receiver may collect and
  359  receive revenues and other pledged moneys in the same manner as
  360  the authority. The receiver shall deposit such revenues and
  361  moneys in a separate account and apply all such revenues and
  362  moneys remaining after allowance for payment of all costs of
  363  operation and maintenance of the system in such manner as the
  364  court directs. In a suit, action, or proceeding by the trustee,
  365  the fees, counsel fees, and expenses of the trustee, and the
  366  receiver, if any, and all costs and disbursements allowed by the
  367  court must be a first charge on any revenues after payment of
  368  the costs of operation and maintenance of the system. The
  369  trustee also has all other powers necessary or appropriate for
  370  the exercise of any functions specifically described in this
  371  section or incident to the representation of the bondholders in
  372  the enforcement and protection of their rights.
  373         (4)A receiver appointed pursuant to this section to
  374  operate and maintain the system or a facility or a part of a
  375  facility may not sell, assign, mortgage, or otherwise dispose of
  376  any of the assets belonging to the authority. The powers of the
  377  receiver are limited to the operation and maintenance of the
  378  system or any facility or part of a facility and to the
  379  collection and application of revenues and other moneys due the
  380  authority, in the name and for and on behalf of the authority
  381  and the bondholders. A holder of bonds or trustee does not have
  382  the right in any suit, action, or proceeding, at law or in
  383  equity, to compel a receiver, or a receiver may not be
  384  authorized or a court may not direct a receiver, to sell,
  385  assign, mortgage, or otherwise dispose of any assets of whatever
  386  kind or character belonging to the authority.
  387         Section 27. Section 345.0007, Florida Statutes, is created
  388  to read:
  389         345.0007 Department to construct, operate, and maintain
  390  facilities.—
  391         (1) The department is the agent of the authority for the
  392  purpose of performing all phases of a project, including, but
  393  not limited to, constructing improvements and extensions to the
  394  system, with the exception of the transit facilities. The
  395  division and the authority shall provide to the department
  396  complete copies of the documents, agreements, resolutions,
  397  contracts, and instruments that relate to the project and shall
  398  request that the department perform the construction work,
  399  including the planning, surveying, design, and actual
  400  construction of the completion of, extensions of, and
  401  improvements to the system. After the issuance of bonds to
  402  finance construction of an improvement or addition to the
  403  system, the division and the authority shall transfer to the
  404  credit of an account of the department in the State Treasury the
  405  necessary funds for construction. The department shall proceed
  406  with construction and use the funds for the purpose authorized
  407  by law for construction of roads and bridges. The authority may
  408  alternatively, with the consent and approval of the department,
  409  elect to appoint a local agency certified by the department to
  410  administer federal aid projects in accordance with federal law
  411  as the authority’s agent for the purpose of performing each
  412  phase of a project.
  413         (2) Notwithstanding subsection (1), the department is the
  414  agent of the authority for the purpose of operating and
  415  maintaining the system, with the exception of transit
  416  facilities. The costs incurred by the department for operation
  417  and maintenance shall be reimbursed from revenues of the system.
  418  The appointment of the department as agent for the authority
  419  does not create an independent obligation on the part of the
  420  department to operate and maintain a system. The authority shall
  421  remain obligated as principal to operate and maintain its
  422  system, and the authority’s bondholders do not have an
  423  independent right to compel the department to operate or
  424  maintain the authority’s system.
  425         (3)The authority shall fix, alter, charge, establish, and
  426  collect tolls, rates, fees, rentals, and other charges for the
  427  authority’s facilities, as otherwise provided in this chapter.
  428         Section 28. Section 345.0008, Florida Statutes, is created
  429  to read:
  430         345.0008 Department contributions to authority projects.—
  431         (1)The department may, at the request of the authority,
  432  provide for or contribute to the payment of costs of financing,
  433  acquisition, or construction of an authority project or portion
  434  of the system, included in the 10-year Strategic Intermodal
  435  Plan, subject to appropriation by the Legislature.
  436         (a) In the manner required by chapter 216, the department
  437  shall include any issue or issues in its legislative budget
  438  request for funding the payment of costs of financial or
  439  engineering and traffic feasibility studies, and the design,
  440  financing, acquisition, or construction of an authority project
  441  or portion of the system. The request for funding may be
  442  included as part of the 5-year Tentative Work Program, however
  443  it will be decided upon separately as a distinct funding item
  444  for consideration by the Legislature. The department must
  445  include a financial feasibility test to accompany such
  446  legislative budget request for consideration of funding any
  447  authority project.
  448         (b) As determined by the Legislature in the General
  449  Appropriations Act, funding provided for authority projects
  450  shall be appropriated in a specific Fixed Capital Outlay
  451  appropriation category that clearly identifies the authority
  452  project.
  453         (c) The department may not request legislative approval of
  454  acquisition or construction of a proposed authority project
  455  unless the estimated net revenues of the proposed project will
  456  be sufficient to pay at least 50 percent of the annual debt
  457  service on the bonds associated with the project by the end of
  458  the 12th year of operation and to pay at least 100 percent of
  459  the debt service on the bonds by the end of the 30th year of
  460  operation.
  461         (2) The department may use its engineers and other
  462  personnel, including consulting engineers and traffic engineers,
  463  to conduct the feasibility studies authorized under subsection
  464  (1).
  465         (3) The department may participate in authority-funded
  466  projects that, at a minimum:
  467         (a) Serve national, statewide, or regional functions and
  468  function as part of an integrated regional transportation
  469  system.
  470         (b) Are identified in the capital improvements element of a
  471  comprehensive plan that has been determined to be in compliance
  472  with part II of chapter 163. Further, the project shall be in
  473  compliance with local government comprehensive plan policies
  474  relative to corridor management.
  475         (c) Are consistent with the Strategic Intermodal System
  476  Plan developed under s. 339.64.
  477         (d) Have a commitment for local, regional, or private
  478  financial matching funds as a percentage of the overall project
  479  cost.
  480         (4) Before approval, the department must determine that the
  481  proposed project:
  482         (a) Is in the public’s best interest;
  483         (b) Would not require state funds to be used unless the
  484  project is on the State Highway System;
  485         (c) Has adequate safeguards in place to ensure that no
  486  additional costs will be imposed on or service disruptions will
  487  affect the traveling public and residents of this state if the
  488  department cancels or defaults on the agreement; and
  489         (d) Has adequate safeguards in place to ensure that the
  490  department and the authority have the opportunity to add
  491  capacity to the proposed project and other transportation
  492  facilities serving similar origins and destinations.
  493         (5) An obligation or expense incurred by the department
  494  under this section is a part of the cost of the authority
  495  project for which the obligation or expense was incurred. The
  496  department may require that money contributed by the department
  497  under this section be repaid from tolls of the project on which
  498  the money was spent, other revenue of the authority, or other
  499  sources of funds.
  500         (6)The department shall receive from the authority a share
  501  of the authority’s net revenues equal to the ratio of the
  502  department’s total contributions to the authority under this
  503  section to the sum of: the department’s total contributions
  504  under this section; contributions by any local government to the
  505  cost of revenue-producing authority projects; and the sale
  506  proceeds of authority bonds after payment of costs of issuance.
  507  For the purpose of this subsection, the net revenues of the
  508  authority are determined by deducting from gross revenues the
  509  payment of debt service, administrative expenses, operations and
  510  maintenance expenses, and all reserves required to be
  511  established under any resolution under which authority bonds are
  512  issued.
  513         Section 29. Section 345.0009, Florida Statutes, is created
  514  to read:
  515         345.0009 Acquisition of lands and property.—
  516         (1)For the purposes of this chapter, the authority may
  517  acquire private or public property and property rights,
  518  including rights of access, air, view, and light, by gift,
  519  devise, purchase, condemnation by eminent domain proceedings, or
  520  transfer from another political subdivision of the state, as the
  521  authority may deem necessary for any of the purposes of this
  522  chapter, including, but not limited to, any lands reasonably
  523  necessary for securing applicable permits, areas necessary for
  524  management of access, borrow pits, drainage ditches, water
  525  retention areas, rest areas, replacement access for landowners
  526  whose access is impaired due to the construction of a facility,
  527  and replacement rights-of-way for relocated rail and utility
  528  facilities; for existing, proposed, or anticipated
  529  transportation facilities on the system or in a transportation
  530  corridor designated by the authority; or for the purposes of
  531  screening, relocation, removal, or disposal of junkyards and
  532  scrap metal processing facilities. Each authority shall also
  533  have the power to condemn any material and property necessary
  534  for such purposes.
  535         (2)The authority shall exercise the right of eminent
  536  domain conferred under this section in the manner provided by
  537  law.
  538         (3)An authority that acquires property for a
  539  transportation facility or in a transportation corridor is not
  540  liable under chapter 376 or chapter 403 for preexisting soil or
  541  groundwater contamination due solely to its ownership. This
  542  section does not affect the rights or liabilities of any past or
  543  future owners of the acquired property or the liability of any
  544  governmental entity for the results of its actions which create
  545  or exacerbate a pollution source. The authority and the
  546  Department of Environmental Protection may enter into
  547  interagency agreements for the performance, funding, and
  548  reimbursement of the investigative and remedial acts necessary
  549  for property acquired by the authority.
  550         Section 30. Section 345.0010, Florida Statutes, is created
  551  to read:
  552         345.0010 Cooperation with other units, boards, agencies,
  553  and individuals.—A county, municipality, drainage district, road
  554  and bridge district, school district, or any other political
  555  subdivision, board, commission, or individual in, or of, the
  556  state may make and enter into a contract, lease, conveyance,
  557  partnership, or other agreement with the authority within the
  558  provisions of this chapter. The authority may make and enter
  559  into contracts, leases, conveyances, partnerships, and other
  560  agreements with any political subdivision, agency, or
  561  instrumentality of the state and any federal agency,
  562  corporation, or individual to carry out the purposes of this
  563  chapter.
  564         Section 31. Section 345.0011, Florida Statutes, is created
  565  to read:
  566         345.0011 Covenant of the state.The state pledges to, and
  567  agrees with, any person, firm, or corporation, or federal or
  568  state agency subscribing to or acquiring the bonds to be issued
  569  by the authority for the purposes of this chapter that the state
  570  will not limit or alter the rights vested by this chapter in the
  571  authority and the department until all bonds at any time issued,
  572  together with the interest thereon, are fully paid and
  573  discharged insofar as the rights vested in the authority and the
  574  department affect the rights of the holders of bonds issued
  575  under this chapter. The state further pledges to, and agrees
  576  with, the United States that if a federal agency constructs or
  577  contributes any funds for the completion, extension, or
  578  improvement of the system, or any parts of the system, the state
  579  will not alter or limit the rights and powers of the authority
  580  and the department in any manner that is inconsistent with the
  581  continued maintenance and operation of the system or the
  582  completion, extension, or improvement of the system, or that
  583  would be inconsistent with the due performance of any agreements
  584  between the authority and any such federal agency, and the
  585  authority and the department shall continue to have and may
  586  exercise all powers granted in this section, so long as the
  587  powers are necessary or desirable to carry out the purposes of
  588  this chapter and the purposes of the United States in the
  589  completion, extension, or improvement of the system, or any part
  590  of the system.
  591         Section 32. Section 345.0012, Florida Statutes, is created
  592  to read:
  593         345.0012 Exemption from taxation.The authority created
  594  under this chapter is for the benefit of the people of the
  595  state, for the increase of their commerce and prosperity, and
  596  for the improvement of their health and living conditions. The
  597  authority performs essential governmental functions under this
  598  chapter, therefore, the authority is not required to pay any
  599  taxes or assessments of any kind or nature upon any property
  600  acquired or used by it for such purposes, or upon any rates,
  601  fees, rentals, receipts, income, or charges received by it.
  602  Also, the bonds issued by the authority, their transfer and the
  603  income from their issuance, including any profits made on the
  604  sale of the bonds, shall be free from taxation by the state or
  605  by any political subdivision, taxing agency, or instrumentality
  606  of the state. The exemption granted by this section does not
  607  apply to any tax imposed by chapter 220 on interest, income, or
  608  profits on debt obligations owned by corporations.
  609         Section 33. Section 345.0013, Florida Statutes, is created
  610  to read:
  611         345.0013 Eligibility for investments and security.—Bonds or
  612  other obligations issued under this chapter are legal
  613  investments for banks, savings banks, trustees, executors,
  614  administrators, and all other fiduciaries, and for all state,
  615  municipal, and other public funds, and are also securities
  616  eligible for deposit as security for all state, municipal, or
  617  other public funds, notwithstanding any other law to the
  618  contrary.
  619         Section 34. Section 345.0014, Florida Statutes, is created
  620  to read:
  621         345.0014 Applicability.—
  622         (1)The powers conferred by this chapter are in addition to
  623  the powers conferred by other law and do not repeal any other
  624  general or special law or local ordinance, but supplement such
  625  other laws in the exercise of the powers provided in this
  626  chapter, and provide a complete method for the exercise of the
  627  powers granted in this chapter. The extension and improvement of
  628  a system, and the issuance of bonds under this chapter to
  629  finance all or part of the cost of such extension or
  630  improvement, may be accomplished upon compliance with this
  631  chapter without regard to or necessity for compliance with the
  632  provisions, limitations, or restrictions contained in any other
  633  general, special, or local law, including, but not limited to,
  634  s. 215.821, and approval of any bonds issued under this act by
  635  the qualified electors or qualified electors who are freeholders
  636  in the state or in any political subdivision of the state is not
  637  required for the issuance of such bonds under this chapter.
  638         (2)This act does not repeal, rescind, or modify any other
  639  law relating to the State Board of Administration, the
  640  Department of Transportation, or the Division of Bond Finance of
  641  the State Board of Administration; however, this chapter
  642  supersedes any other law that is inconsistent with its
  643  provisions, including, but not limited to, s. 215.821.
  645  ================= T I T L E  A M E N D M E N T ================
  646  And the title is amended as follows:
  647         Delete line 1448
  648  and insert:
  649         direct written premiums for bail bonds; creating s.
  650         345.0001, F.S.; creating the West Florida Regional
  651         Economic Infrastructure Development Authority;
  652         providing a short title; creating s. 345.0002, F.S.;
  653         defining terms; creating s. 345.0003, F.S.;
  654         authorizing certain counties to form a regional
  655         economic infrastructure development authority to
  656         construct, maintain, or operate transportation
  657         projects in a given region of the state; providing
  658         governance of the authority; creating s. 345.0004,
  659         F.S.; specifying the powers and duties of a regional
  660         economic infrastructure development authority;
  661         limiting the authority’s power with respect to an
  662         existing system; prohibiting the authority from
  663         pledging the credit or taxing power of the state or
  664         any political subdivision or agency of the state;
  665         prohibiting the authority from entering into an
  666         agreement that would prohibit a county or municipality
  667         from constructing a road without the consent of the
  668         county; requiring that the authority comply with
  669         certain reporting and documentation requirements;
  670         creating s. 345.0005, F.S.; authorizing the authority
  671         to issue bonds that meet certain requirements;
  672         requiring that the resolution that authorizes the
  673         issuance of bonds meet certain requirements;
  674         authorizing the authority to enter into security
  675         agreements for issued bonds with a bank or trust
  676         company; providing that issued bonds are negotiable
  677         instruments and have the qualities and incidents of
  678         certain negotiable instruments under the law;
  679         requiring that a resolution authorizing the issuance
  680         of bonds and pledging of revenues of the system
  681         include certain requirements; prohibiting the use or
  682         pledge of state funds to pay principal or interest of
  683         the authority’s bonds; creating s. 345.0006, F.S.;
  684         providing for the rights and remedies granted to
  685         bondholders; authorizing certain actions a trustee may
  686         take on behalf of the bondholders; authorizing the
  687         appointment of a receiver; establishing and limiting
  688         the authority of the receiver; creating s. 345.0007,
  689         F.S.; designating the department as the agent of the
  690         authority for specified purposes; authorizing the
  691         administration and management of projects by the
  692         department; limiting the powers of the department as
  693         an agent; establishing the fiscal responsibilities of
  694         the authority; creating s. 345.0008, F.S.; authorizing
  695         the department to provide for or commit its resources
  696         for the authority project or system, if approved by
  697         the Legislature; specifying conditions for the funding
  698         of an authority project; authorizing the payment of
  699         expenses incurred by the department on behalf of the
  700         authority; requiring the department to receive a share
  701         of the revenue from the authority; providing
  702         calculations for disbursement of revenues; creating s.
  703         345.0009, F.S.; authorizing the authority to acquire
  704         private or public property and property rights for a
  705         project or plan; authorizing the authority to exercise
  706         the right of eminent domain; establishing the rights
  707         and liabilities and remedial actions relating to
  708         property acquired for a transportation project or
  709         corridor; creating s. 345.0010, F.S.; authorizing
  710         contracts between governmental entities and the
  711         authority; creating s. 345.0011, F.S.; providing that
  712         the state will not limit or alter the vested rights of
  713         a bondholder with regard to any issued bonds or other
  714         rights relating to the bonds under certain conditions;
  715         creating s. 345.0012, F.S.; relieving the authority’s
  716         obligation to pay certain taxes or assessments for
  717         property acquired or used for certain public purposes
  718         or on revenues received relating to the issuance of
  719         bonds; providing exceptions; creating s. 345.0013,
  720         F.S.; providing that the bonds or obligations issued
  721         are legal investments of specified entities; creating
  722         s. 345.0014, F.S.; providing applicability; specifying
  723         a