The Florida Senate

The authority created and established by the provisions of this part is hereby granted and shall have the right to acquire, hold, construct, improve, maintain, operate, own, and lease, in the capacity of lessor, the Pasco County Expressway System, hereinafter referred to as “system.”

It is the express intention of this part that said authority, in the construction of the Pasco County Expressway System, shall be authorized to construct any extensions, additions, or improvements to the system or appurtenant facilities, including all necessary approaches, roads, bridges, and avenues of access, with such changes, modifications, or revisions of the project as shall be deemed desirable and proper.

To sue and be sued, implead and be impleaded, and complain and defend in all courts.

To adopt, use, and alter at will a corporate seal.

To acquire, purchase, hold, lease as lessee, and use any franchise or property, real, personal, or mixed, tangible or intangible, or any interest therein, necessary or desirable for carrying out the purposes of the authority, and to sell, lease as lessor, transfer, and dispose of any property or interest therein at any time acquired by it.

To enter into and make leases for terms not exceeding 40 years, as either lessee or lessor, in order to carry out the right to lease as set forth in this part.

To enter into and make lease-purchase agreements with the department for terms not exceeding 40 years or until any bonds secured by a pledge of rentals thereunder and any refundings thereof are fully paid as to both principal and interest, whichever is longer.

To fix, alter, charge, establish, and collect rates, fees, rentals, and other charges for the services and facilities of the Pasco County Expressway System, which rates, fees, rentals, and other charges shall always be sufficient to comply with any covenants made with the holders of any bonds issued pursuant to this part. However, such right and power may be assigned or delegated by the authority to the department.

To make contracts of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business.

Without limitation of the foregoing, to borrow money and accept grants from, and to enter into contracts, leases, or other transactions with, any federal agency, the state, any agency of the state, the County of Pasco, or any other public body of the state.

To have the power of eminent domain, including the procedural powers granted under both chapters 73 and 74.

To pledge, hypothecate, or otherwise encumber all or any part of the revenues, rates, fees, rentals, or other charges or receipts of the authority, including all or any portion of the Pasco County gasoline tax funds received by the authority pursuant to the terms of any lease-purchase agreement between the authority and the department as security for all or any of the obligations of the authority.

To do all acts and things necessary or convenient for the conduct of its business and the general welfare of the authority in order to carry out the powers granted to it by this part or any other law.

The authority is directed to reevaluate all projects planned as of July 1, 1969. As to such projects, the authority shall hold at least one duly advertised public hearing in each of the cities of Dade City and New Port Richey prior to final approval of any such project. Subsequent to the hearings, the authority may amend or modify the project and adjust its proposed route so as to best serve the needs of the county and to protect the rights of persons affected by the project.

Projects subject to the provisions of this subsection shall not be finally approved except by a three-fifths vote of the authority. After the authority approves same, the Pasco County Commission shall order a referendum election on such project by the freeholders of the county. Approval of a majority of those voting in such election shall constitute approval of such project.