The Florida Senate

373.41495  Lake Belt Mitigation Trust Fund; bonds.--

(1)  The Lake Belt Mitigation Trust Fund is hereby created, to be administered by the South Florida Water Management District. Funds shall be credited to the trust fund as provided in ¹s. 373.4139, to be used for the purposes set forth therein.

(2)  The South Florida Water Management District may issue revenue bonds pursuant to s. 373.584, payable from revenues from the Lake Belt Mitigation fee imposed under ¹s. 373.4139.

(3)  Net proceeds from the Lake Belt Mitigation fee and any revenue bonds issued under subsection (2) shall be deposited into the trust fund and, together with any interest earned on such moneys, shall be applied to Lake Belt mitigation projects as provided in ¹s. 373.4139.

(4)  The Lake Belt Mitigation Trust Fund is a trust fund as described in s. 19(f)(3), Art. III of the State Constitution, and therefore is not subject to termination pursuant to s. 19(f)(2), Art. III of the State Constitution.

History.--ss. 1, 2, 3, 4, ch. 98-260.

¹Note.--House Bill 4071 which contained s. 373.4139 was vetoed by the Governor on May 28, 1998.