The Florida Senate

¹285.11  Reservation; improvement leases.--The trustee shall have the right to lease any part or parts of the reservation to any person willing to enter into an improvement lease. Such lease shall not exceed 15 years, unless such a lease is entered into with a Florida Indian, in which case it may be for a term not to exceed 25 years, and may include an option on the part of the lessee to renew such lease for an additional term of 25 years or less. Notwithstanding the foregoing, if such lease is entered into with a Florida Indian for housing development and residential purposes, it may be for a term not to exceed 50 years. The lessee shall be required to make such improvements to or on the property as are agreed upon in the lease. The improvements shall become a part of the lands of the reservation thereby accruing to the benefit of the tribe upon expiration of the lease. For the purposes of this section a "Florida Indian" is defined as a member of either the Seminole Tribe of Florida or the Miccosukee Tribe of Indians of Florida or an Indian who is eligible for enrollment as a member of either of the foregoing tribes.

History.--s. 5, ch. 29908, 1955; ss. 22, 35, ch. 69-106; s. 1, ch. 70-271; s. 43, ch. 97-167.

¹Note.--Section 45, ch. 97-167, provides that "[t]his act shall take effect July 1, 1997, provided that a transitional period shall occur prior to the transfer of all assets and liabilities from the agency to the corporation on January 1, 1998. During this transitional period, by action of the members of the agency on the corporation's behalf, the corporation shall be entitled to execute contracts as an entity in organization and do any other things necessary to assist in the formal establishment of the corporation as a working organization on January 1, 1998. The agency's auditors shall conduct a final audit of the agency for the period beginning July 1, 1997, and ending December 31, 1997, and the corporation's auditors shall conduct an audit of the corporation for the period beginning January 1, 1998, and ending June 30, 1998. The agency shall be entitled to expend unencumbered amounts deposited into the Florida Housing Finance Agency Trust Fund for payment of transition and startup costs with respect to the establishment of the corporation."