HB 1615

1
A bill to be entitled
2An act relating to Southwest Florida transportation;
3creating pt. X of ch. 348, F.S., consisting of ss.
4348.993, 348.9931, 348.9932, 348.9933, 348.9934, 348.9935,
5348.9936, 348.9937, 348.9938, 348.9939, 348.994, 348.9941,
6348.9942, 348.9943, 348.9944, 348.9945, and 348.9946,
7F.S., titled "Southwest Florida Expressway Authority";
8providing a popular name; providing definitions; creating
9the Southwest Florida Expressway Authority; providing for
10a governing body of the authority; providing for
11membership; providing purposes and powers; providing for
12the Southwest Florida Transportation System; providing for
13procurement; providing bond financing authority for
14improvements; providing for bonds of the authority;
15providing for fiscal agents; providing the State Board of
16Administration may act as fiscal agent; providing for
17certain financial agreements; providing for rights and
18remedies of bondholders; providing for lease-purchase
19agreement with the Department of Transportation; providing
20the department may be appointed agent of authority for
21construction; providing for acquisition of lands and
22property; providing for cooperation with other units,
23boards, agencies, and individuals; providing covenant of
24the state; providing for exemption from taxation;
25providing for eligibility for investments and security;
26providing pledges shall be enforceable by bondholders;
27providing for construction and application; providing for
28future expiration of the act; providing for an
29appropriation; providing a contingent effective date.
30
31Be It Enacted by the Legislature of the State of Florida:
32
33     Section 1.  Part X of chapter 348, Florida Statutes,
34consisting of sections 348.993, 348.9931, 348.9932, 348.9933,
35348.9934, 348.9935, 348.9936, 348.9937, 348.9938, 348.9939,
36348.994, 348.9941, 348.9942, 348.9943, 348.9944, 348.9945, and
37348.9946, is created to read:
38
Part X
39
Southwest Florida Expressway Authority
40     348.993  Popular name.--This part may be referred to by the
41popular name the "Southwest Florida Expressway Authority Law."
42     348.9931  Definitions.--The following terms, whenever used
43or referred to in this part, shall have the following meanings,
44except in those instances where the context clearly indicates
45otherwise:
46     (1)  "Agency of the state" means and includes the state and
47any department of, or corporation, agency, or instrumentality
48heretofore or hereafter created, designated, or established by,
49the state.
50     (2)  "Authority" means the body politic and corporate, and
51agency of the state, created by this part.
52     (3)  "Bonds" means and includes the notes, bonds, refunding
53bonds, or other evidences of indebtedness or obligations, in
54either temporary or definitive form, which the authority is
55authorized to issue pursuant to this part.
56     (4)  "County" means the Counties of Collier and Lee.
57     (5)  "DBOM contract" means the document and all concomitant
58rights approved by the authority providing the selected person
59or entity the exclusive right to design, build, operate, and
60maintain the Southwest Florida Transportation System.
61     (6)  "DBOMF contract" means the document and all
62concomitant rights approved by the authority providing the
63selected person or entity the exclusive right to design, build,
64operate, maintain, and finance all or a portion of the Southwest
65Florida Transportation System.
66     (7)  "Department" means the Department of Transportation
67existing under chapters 334-339.
68     (8)  "Expressway" is the same as limited access expressway.
69     (9)  "Federal agency" means and includes the United States,
70the President of the United States, or any department of, or
71corporation, agency, or instrumentality heretofore or hereafter
72created, designated, or established by, the United States.
73     (10)  "Lease-purchase agreement" means the lease-purchase
74agreements which the authority is authorized pursuant to this
75part to enter into with the Department of Transportation.
76     (11)  "Limited access expressway" means a street or highway
77especially designed for through traffic and over, from, or to
78which no person shall have the right of easement, use, or access
79except in accordance with the rules and regulations promulgated
80and established by the authority for the use of such facility.
81Such highways or streets may be parkways, from which trucks,
82buses, and other commercial vehicles shall be excluded, or they
83may be freeways open to use by all customary forms of street and
84highway traffic.
85     (12)  "Members" means the governing body of the authority,
86and the term "member" means one of the individuals constituting
87such governing body.
88     (13)  "Proposed project" means a facility which, if
89constructed, will become part of the Southwest Florida
90Transportation System, and it shall identify the general
91corridor and alignment of the facility and its limits. Further,
92it shall mean a project or projects which are in the long-range
93transportation plan of Lee County or Collier County, or both
94plans if the proposed project is to be located in both counties.
95     (14)  "Southwest Florida Transportation System" means any
96and all expressways and appurtenant facilities thereto,
97including, but not limited to, all approaches, roads, bridges,
98and avenues of access for said expressway or expressways,
99whether tolled or nontolled, or such other facility as the
100authority determines or designates.
101     (15)  "State Board of Administration" means the body
102corporate existing under the provisions of s. 9, Art. XII of the
103State Constitution, or any successor thereto.
104     (16)  "System" means the Southwest Florida Transportation
105System.
106
107Words importing singular number include the plural number in
108each case and vice versa, and words importing persons include
109firms and corporations.
110     348.9932  Southwest Florida Expressway Authority.--
111     (1)  There is hereby created and established a body politic
112and corporate, an agency of the state, encompassing Collier and
113Lee Counties, to be known as the Southwest Florida Expressway
114Authority, hereinafter referred to as the "authority."
115     (2)  The governing body of the authority shall consist of
116seven voting members and one nonvoting member, as set forth in
117this subsection.
118     (a)1.a.  One member who is a permanent resident of Collier
119County and one member who is a permanent resident of Lee County
120shall be appointed by the Governor to serve a term of 4 years
121each. The Governor shall select his appointees from a list
122submitted by the board of county commissioners of each county,
123with each list recommending five candidates from their
124respective county.
125     b.  One member who is a permanent resident of Collier
126County shall be appointed by the Board of County Commissioners
127of Collier County and one member who is a permanent resident of
128Lee County shall be appointed by the Board of County
129Commissioners of Lee County, to serve a term of 4 years each.
130     2.  Each member appointed under this paragraph shall be a
131person of outstanding reputation for integrity, responsibility,
132and business ability and shall have an interest in ground
133transportation. No elected official and no person who is an
134employee, in any capacity, of Collier County or Lee County or of
135any city within Collier County or Lee County shall be an
136appointed member of the authority except as set forth in this
137section.
138     3.  Each appointed member shall be a resident of his or her
139respective county during his or her entire term.
140     4.  Each appointed member shall be a voting member and
141shall hold office until his or her successor has been appointed
142and has qualified. A vacancy occurring during a term shall be
143filled only for the remainder of the unexpired term.
144     (b)  One member from Collier County and one member from Lee
145County shall be selected by the members of the respective county
146commission from among its members to serve as a voting member
147for a term of 2 years each. Each commissioner must be a member
148of the county commission when selected and for the full extent
149of the term of this selection.
150     (c)  The executive director of the Southwest Florida
151Regional Planning Council shall serve as the seventh voting
152member.
153     (d)  The district secretary of the Department of
154Transportation serving in the district that contains Collier
155County and Lee County shall serve as a nonvoting member.
156     (e)  Any member of the authority shall be eligible for
157reappointment.
158     (3)(a)  The authority shall elect one of its members as
159chair of the authority. The authority shall also elect a
160secretary and a treasurer who may or may not be members of the
161authority. The chair, secretary, and treasurer shall hold such
162offices at the will of the authority. Four members of the
163authority shall constitute a quorum, and a vote of the majority
164of those present shall be necessary for any action taken by the
165authority. No vacancy in the authority shall impair the right of
166a quorum of the authority to exercise all of the rights and
167perform all of the duties of the authority.
168     (b)  Upon the effective date of his or her appointment, or
169as soon thereafter as practicable, each appointed member of the
170authority shall enter upon his or her duties.
171     (4)(a)  The authority may employ an executive director, its
172own counsel and legal staff, technical experts, engineers, and
173such employees, permanent or temporary, as it may require; may
174determine the qualifications and fix the compensation of such
175persons, firms, or corporations; and may employ a fiscal agent
176or agents. The authority may delegate to one or more of its
177agents or employees such of its power as it shall deem necessary
178to carry out the purposes of this part, subject always to the
179supervision and control of the authority. Members of the
180authority may be removed from office by the Governor for
181misconduct, malfeasance, misfeasance, or nonfeasance in office.
182     (b)  Members of the authority shall be entitled to receive
183from the authority their travel and other necessary expenses
184incurred in connection with the business of the authority as
185provided in s. 112.061, but they shall draw no salaries or other
186compensation.
187     348.9933  Purposes and powers.--
188     (1)(a)  The authority created and established by the
189provisions of this part is hereby granted and shall have the
190right to acquire, hold, construct, improve, maintain, operate,
191own, and lease, in the capacity of lessor, the Southwest Florida
192Transportation System, hereinafter referred to as the "system."
193     (b)  It is the express intention of this part that said
194authority, in the construction of said Southwest Florida
195Transportation System, within the geographic boundaries of
196Collier and Lee Counties, is limited to the pursuit of tolled
197expressway lanes on Interstate Highway 75 within these counties.
198Further, the authority shall be authorized to construct any
199extensions, additions, or improvements to said system or
200appurtenant facilities, including all necessary approaches,
201roads, bridges, and avenues of access, with such changes,
202modifications, or revisions of said project as shall be deemed
203desirable and proper with the concurrence of the respective
204county commissions. The responsibilities of the authority will
205not be expanded to cover any other projects beyond Interstate 75
206toll lanes and appurtenant facilities unless resolutions in
207support of such expansion or other project are adopted by the
208Boards of County Commissioners of Lee and Collier Counties.
209     (2)  The authority is hereby granted and shall have and may
210exercise all powers necessary, appurtenant, convenient, or
211incidental to the carrying out of the aforesaid purposes,
212including, but not limited to, the following rights and powers:
213     (a)  To sue and be sued, implead and be impleaded,
214complain, and defend in all courts.
215     (b)  To adopt, use, and alter at will a corporate seal.
216     (c)  To acquire by donation or otherwise, purchase, hold,
217lease as lessee, and use any franchise or property, real,
218personal, or mixed, tangible or intangible, or any options
219thereof in its own name or in conjunction with others, or
220interest therein, necessary or desirable for carrying out the
221purposes of the authority, and to sell, lease as lessor,
222transfer, and dispose of any property or interest therein at any
223time acquired by it.
224     (d)  To enter into and make leases for terms it deems
225necessary, as either lessee or lessor, in order to carry out the
226right to lease as set forth in this part.
227     (e)  To enter into and make lease-purchase agreements with
228the department for terms it deems necessary or until any bonds
229secured by a pledge of rentals thereunder, and any refundings
230thereof, are fully paid as to both principal and interest,
231whichever is longer.
232     (f)  To fix, alter, charge, establish, and collect rates,
233fees, rentals, and other charges for the services and facilities
234of the Southwest Florida Transportation System, which rates,
235fees, rentals, and other charges shall always be sufficient to
236comply with any covenants made with the holders of any bonds
237issued pursuant to this part; provided, however, that such right
238and power may be assigned or delegated, by the authority, to the
239department.
240     (g)  To borrow money and make and issue negotiable notes,
241bonds, refunding bonds, and other evidences of indebtedness or
242obligations, either in temporary or definitive form, hereinafter
243in this part sometimes called "bonds" of the authority, for the
244purpose of financing all or part of the improvement or extension
245of the Southwest Florida Transportation System and appurtenant
246facilities, including all approaches, streets, roads, bridges,
247and avenues of access for said Southwest Florida Transportation
248System, and for any other purpose authorized by this part; to
249secure the payment of such bonds or any part thereof by a pledge
250of any or all of its revenues, rates, fees, rentals, or other
251charges; and in general to provide for the security of said
252bonds and the rights and remedies of the holders thereof. The
253authority may enter into an agreement between the authority and
254one or more counties for the pledge of county gasoline tax
255funds, county sales tax, or other county revenues to secure any
256bonds issued for an authority project as authorized hereunder.
257In the event the authority shall determine to fund or refund any
258bonds theretofore issued by said authority, prior to the
259maturity thereof, the proceeds of such funding or refunding
260bonds shall, pending the prior redemption of the bonds to be
261funded or refunded, be invested in direct obligations of the
262United States, and it is the express intention of this part that
263such outstanding bonds may be funded or refunded by the issuance
264of bonds pursuant to this part.
265     (h)  To make contracts of every name and nature, including,
266but not limited to, partnerships providing for participation in
267ownership and revenues, and to execute all instruments necessary
268or convenient for the carrying on of its business.
269     (i)  Without limitation of the foregoing, to borrow money
270and accept grants from, and to enter into contracts, leases, or
271other transactions with, any federal agency, the state, any
272agency of the state, Collier County, Lee County, and any city
273within these two counties or with any other public body of the
274state.
275     (j)  To have the power of eminent domain, including the
276procedural powers granted under chapters 73 and 74.
277     (k)  To pledge, hypothecate, or otherwise encumber all or
278any part of the revenues, rates, fees, rentals, or other charges
279or receipts of the authority as security for all or any of the
280obligations of the authority.
281     (l)  To do all acts and things necessary or convenient for
282the conduct of its business and the general welfare of the
283authority in order to carry out the powers granted to it by this
284part or any other law.
285     (m)  With the consent of the county within whose
286jurisdiction the following activities occur, to construct,
287operate, and maintain roads, bridges, avenues of access,
288thoroughfares, and boulevards outside the jurisdictional
289boundaries of Collier and Lee Counties, together with the right
290to construct, repair, replace, operate, install, and maintain
291toll payment systems thereon, with all necessary and incidental
292powers to accomplish the foregoing.
293     (3)  The authority shall have no power at any time or in
294any manner to pledge the credit or taxing power of the state or
295any political subdivision or agency thereof, including Collier
296and Lee Counties or any city within these counties, nor shall
297any of the authority's obligations be deemed to be obligations
298of the state or of any political subdivision or agency thereof,
299nor shall the state or any political subdivision or agency
300thereof, except the authority, be liable for the payment of the
301principal of or interest on such obligations unless agreed to by
302such entity.
303     (4)  Notwithstanding powers conferred herein, before the
304authority proceeds with a proposed project either the Lee County
305Commission or Collier County Commission must approve any
306proposed project for the system which may be located within the
307geographical boundaries of that commission's jurisdiction. A
308quorum must be present for a vote on approval to take place.
309Such approval, by a majority vote of those members present, must
310be obtained before the authority can proceed with the
311preliminary design and environmental study.
312     (5)  The authority is precluded from involvement with any
313future development of County Road 951.
314     348.9934  Procurement.--The authority is authorized to
315procure commodities and the services of a qualified person or
316entity to design, build, finance, operate, maintain, and
317implement the Southwest Florida Transportation System, including
318the use of a DBOM or DBOMF method using a request for proposal,
319a request for qualifications, or an invitation to negotiate.
320     348.9935  Bond financing authority for
321improvements.--Pursuant to s. 11(f), Art. VII of the State
322Constitution, the Legislature hereby approves for bond financing
323by the Southwest Florida Expressway Authority improvements to
324toll collection facilities, interchanges to the legislatively
325approved regional transportation system, and any other facility
326appurtenant, necessary, or incidental to the approved system.
327Subject to terms and conditions of applicable revenue bond
328resolutions and covenants, such costs may be financed in whole
329or in part by revenue bonds issued pursuant to s. 348.9936(1)(a)
330or (b) whether currently issued or issued in the future, or by a
331combination of such bonds.
332     348.9936  Bonds of the authority.--
333     (1)(a)  Bonds may be issued on behalf of the authority
334pursuant to the State Bond Act.
335     (b)  Alternatively, the authority may issue its own bonds
336pursuant to this part at such times and in such principal amount
337as, in the opinion of the authority, is necessary to provide
338sufficient moneys for achieving its purposes; however, such
339bonds may not pledge the full faith and credit of the state.
340Bonds issued by the authority pursuant to this paragraph or
341paragraph (a), whether on original issuance or on refunding,
342shall be authorized by resolution of the members thereof and may
343be either term or serial bonds and shall bear such date or
344dates, mature at such time or times, bear interest at such rate
345or rates, payable semiannually, be in such denominations, be in
346such form, either coupon or fully registered, carry such
347registration, exchangeability, and interchangeability
348privileges, be payable in such medium of payment and at such
349place or places, be subject to such terms of redemption, and be
350entitled to such priorities on the revenues, rates, fees,
351rentals, or other charges or receipts of the authority,
352including any other funds received by the authority pursuant to
353the terms of any lease-purchase agreement between the authority
354and the department, as such resolution or any resolution
355subsequent thereto may provide. The bonds shall be executed
356either by manual or facsimile signature by such officers as the
357authority shall determine, provided that such bonds shall bear
358at least one signature which is manually executed thereon, and
359the coupons attached to such bonds shall bear the facsimile
360signature or signatures of such officer or officers as shall be
361designated by the authority and shall have the seal of the
362authority affixed, imprinted, reproduced, or lithographed
363thereon, all as may be prescribed in such resolution or
364resolutions.
365     (c)  Bonds issued pursuant to paragraph (a) or paragraph
366(b) shall be sold at public sale in the same manner provided by
367the State Bond Act. However, if the authority shall, by official
368action at a public meeting, determine that a negotiated sale of
369such bonds is in the best interest of the authority, the
370authority may negotiate the sale of such bonds with the
371underwriter or underwriters designated by the authority and the
372Division of Bond Finance of the State Board of Administration
373with respect to bonds issued pursuant to paragraph (a) or solely
374the authority with respect to bonds issued pursuant to paragraph
375(b). The authority's determination to negotiate the sale of such
376bonds may be based, in part, upon the written advice of the
377authority's financial adviser. Pending the preparation of
378definitive bonds, interim certificates may be issued to the
379purchaser or purchasers of such bonds and may contain such terms
380and conditions as the authority may determine.
381     (d)  The authority may issue bonds pursuant to paragraph
382(b) to refund any bonds previously issued regardless of whether
383the bonds being refunded were issued by the authority pursuant
384to this part or on behalf of the authority pursuant to the State
385Bond Act.
386     (2)  Any such resolution or resolutions authorizing any
387bonds hereunder may contain provisions which shall be part of
388the contract with the holders of such bonds, as to:
389     (a)  The pledging of all or any part of the revenues,
390rates, fees, rentals, or other charges or receipts of the
391authority, derived by the authority, from the Southwest Florida
392Transportation System.
393     (b)  The completion, improvement, operation, extension,
394maintenance, repair, lease, or lease-purchase agreement of said
395system and the duties of the authority and others, including the
396department, with reference thereto.
397     (c)  Limitations on the purposes to which the proceeds of
398the bonds, then or thereafter to be issued, or of any loan or
399grant by the United States or the state may be applied.
400     (d)  The fixing, charging, establishing, and collecting of
401rates, fees, rentals, or other charges for use of the services
402and facilities of the Southwest Florida Transportation System or
403any part thereof.
404     (e)  The setting aside of reserves or sinking funds or
405repair and replacement funds and the regulation and disposition
406thereof.
407     (f)  Limitations on the issuance of additional bonds.
408     (g)  The terms and provisions of any lease-purchase
409agreement, deed of trust, or indenture securing the bonds or
410under which the same may be issued.
411     (h)  Any other or additional agreements with the holders of
412the bonds which the authority may deem desirable and proper.
413     (3)  The authority may employ fiscal agents as provided by
414this part, or the State Board of Administration may, upon
415request of the authority, act as fiscal agent for the authority
416in the issuance of any bonds which may be issued pursuant to
417this part, and the State Board of Administration may, upon
418request of the authority, take over the management, control,
419administration, custody, and payment of any or all debt services
420or funds or assets now or hereafter available for any bonds
421issued pursuant to this part. The authority may enter into any
422deeds of trust, indentures, or other agreements with its fiscal
423agent, or with any bank or trust company within or without the
424state, as security for such bonds and may, under such
425agreements, sign and pledge all or any of the revenues, rates,
426fees, rentals, or other charges or receipts of the authority.
427Such deed of trust, indenture, or other agreement may contain
428such provisions as are customary in such instruments or, as the
429authority may authorize, including, but without limitation,
430provisions as to:
431     (a)  The completion, improvement, operation, extension,
432maintenance, repair, and lease of, or lease-purchase agreement
433relating to, the Southwest Florida Transportation System and the
434duties of the authority and others, including the department,
435with reference thereto.
436     (b)  The application of funds and the safeguarding of funds
437on hand or on deposit.
438     (c)  The rights and remedies of the trustee and the holders
439of the bonds.
440     (d)  The terms and provisions of the bonds or the
441resolutions authorizing the issuance of same.
442     (4)  Any of the bonds issued pursuant to this part are, and
443are hereby declared to be, negotiable instruments and shall have
444all the qualities and incidents of negotiable instruments under
445the law merchant and the negotiable instruments law of the
446state.
447     (5)  Notwithstanding any of the provisions of this part,
448each project, building, or facility which has been financed by
449the issuance of bonds or other evidence of indebtedness under
450this part and any refinancing thereof is hereby approved as
451provided for in s. 11(f), Art. VII of the State Constitution.
452     348.9937  Remedies of the bondholders.--
453     (1)  The rights and the remedies herein conferred upon or
454granted to the bondholders shall be in addition to and not in
455limitation of any rights and remedies lawfully granted to such
456bondholders by the resolution or resolutions providing for the
457issuance of bonds, or by a lease-purchase agreement, deed of
458trust, indenture, or other agreement under which the bonds may
459be issued or secured. In the event that the authority shall
460default in the payment of the principal of or interest on any of
461the bonds issued pursuant to the provisions of this part after
462such principal of or interest on said bonds shall have become
463due, whether at maturity or upon call for redemption, or the
464department shall default in any payments under, or covenants
465made in, any lease-purchase agreement between the authority and
466the department, and such default shall continue for a period of
46730 days, or in the event that the authority or the department
468shall fail or refuse to comply with the provisions of this part
469or any agreement made with, or for the benefit of, the holders
470of the bonds, the holders of 25 percent in aggregate principal
471amount of the bonds then outstanding shall be entitled as of
472right to the appointment of a trustee to represent such
473bondholders for the purposes hereof; provided, however, that
474such holders of 25 percent in aggregate principal amount of the
475bonds then outstanding shall have first given notice of their
476intention to appoint a trustee, to the authority and to the
477department. Such notice shall be deemed to have been given if
478given in writing, deposited in a securely sealed postpaid
479wrapper, mailed at a regularly maintained United States post
480office box or station, and addressed, respectively, to the chair
481of the authority and to the secretary of the Department of
482Transportation at the principal office of the department.
483     (2)  Such trustee, and any trustee under any deed of trust,
484indenture, or other agreement, may, and upon written request of
485the holders of 25 percent, or such other percentages as may be
486specified in any deed of trust, indenture, or other agreement
487aforesaid, in principal amount of the bonds then outstanding,
488shall, in any court of competent jurisdiction, in his, her, or
489its own name:
490     (a)  By mandamus or other suit, action, or proceeding at
491law or in equity, enforce all rights of the bondholders,
492including the right to require the authority to fix, establish,
493maintain, collect, and charge rates, fees, rentals, and other
494charges, adequate to carry out any agreement as to, or pledge
495of, the revenues or receipts of the authority to carry out any
496other covenants and agreements with or for the benefit of the
497bondholders, and to perform its and their duties under this
498part.
499     (b)  By mandamus or other suit, action, or proceeding at
500law or in equity, enforce all rights of the bondholders under or
501pursuant to any lease-purchase agreement between the authority
502and the department, including the right to require the
503department to make all rental payments required to be made by it
504under the provisions of any such lease-purchase agreement, and
505to require the department to carry out any other covenants and
506agreements with or for the benefit of the bondholders, and to
507perform its and their duties under this part.
508     (c)  Bring suit upon the bonds.
509     (d)  By action or suit in equity, require the authority or
510the department to account as if it were the trustee of an
511express trust for the bondholders.
512     (e)  By action or suit in equity, enjoin any acts or things
513which may be unlawful or in violation of the rights of the
514bondholders.
515     (3)  Any trustee, when appointed as aforesaid or acting
516under a deed of trust, indenture, or other agreement, and
517whether or not all bonds have been declared due and payable,
518shall be entitled as of right to the appointment of a receiver,
519who may enter upon and take possession of the Southwest Florida
520Transportation System or the facilities or any part or parts
521thereof, the rates, fees, rentals, or other revenues, charges,
522or receipts from which are, or may be, applicable to the payment
523of the bonds so in default, and subject to and in compliance
524with the provisions of any lease-purchase agreement between the
525authority and the department operate and maintain the same, for
526and on behalf of and in the name of, the authority, the
527department, and the bondholders, and collect and receive all
528rates, fees, rentals, and other charges or receipts or revenues
529arising therefrom in the same manner as the authority or the
530department might do, and shall deposit all such moneys in a
531separate account and apply the same in such manner as the court
532shall direct. In any suit, action, or proceeding by the trustee,
533the fees, counsel fees, and expenses of the trustee, and said
534receiver, if any, and all costs and disbursements allowed by the
535court shall be a first charge on any rates, fees, rentals, or
536other charges, revenues, or receipts derived from the Southwest
537Florida Transportation System, or the facilities or services or
538any part or parts thereof, including payments under any such
539lease-purchase agreement as aforesaid which said rates, fees,
540rentals, or other charges, revenues, or receipts shall or may be
541applicable to the payment of the bonds so in default. Such
542trustee shall, in addition to the foregoing, have and possess
543all of the powers necessary or appropriate for the exercise of
544any functions specifically set forth herein or incident to the
545representation of the bondholders in the enforcement and
546protection of their rights.
547     (4)  Nothing in this section or any other section of this
548part shall authorize any receiver appointed pursuant hereto for
549the purpose, subject to and in compliance with the provisions of
550any lease-purchase agreement between the authority and the
551department, of operating and maintaining the Southwest Florida
552Transportation System or any facilities or part or parts thereof
553to sell, assign, mortgage, or otherwise dispose of any of the
554assets of whatever kind and character belonging to the
555authority. It is the intention of this part to limit the powers
556of such receiver, subject to and in compliance with the
557provisions of any lease-purchase agreement between the authority
558and the department, to the operation and maintenance of the
559Southwest Florida Transportation System, or any facility or part
560or parts thereof, as the court may direct, in the name and for
561and on behalf of the authority, the department, and the
562bondholders, and no holder of bonds on the authority nor any
563trustee shall ever have the right in any suit, action, or
564proceeding at law or in equity to compel a receiver, nor shall
565any receiver be authorized or any court be empowered to direct
566the receiver to sell, assign, mortgage, or otherwise dispose of
567any assets of whatever kind or character belonging to the
568authority.
569     348.9938  Lease-purchase agreement.--
570     (1)  In order to effectuate the purposes of this part and
571as authorized by this part, the authority may enter into a
572lease-purchase agreement with the department relating to and
573covering the Southwest Florida Transportation System.
574     (2)  Such lease-purchase agreement shall provide for the
575leasing of the Southwest Florida Transportation System by the
576authority, as lessor, to the department, as lessee; shall
577prescribe the term of such lease and the rentals to be paid
578thereunder; and shall provide that upon the completion of the
579faithful performance thereunder and the termination of such
580lease-purchase agreement, title in fee simple absolute to the
581Southwest Florida Transportation System as then constituted
582shall be transferred in accordance with law by the authority to
583the state and the authority shall deliver to the department such
584deeds and conveyances as shall be necessary or convenient to
585vest title in fee simple absolute in the state.
586     (3)  Such lease-purchase agreement may include such other
587provisions, agreements, and covenants as the authority and the
588department deem advisable or required, including, but not
589limited to, provisions as to the bonds to be issued under, and
590for the purposes of, this part; the completion, extension,
591improvement, operation, and maintenance of the Southwest Florida
592Transportation System and the expenses and the cost of operation
593of said authority; the charging and collection of tolls, rates,
594fees, and other charges for the use of the services and
595facilities thereof; the application of federal or state grants
596or aid which may be made or given to assist the authority in the
597completion, extension, improvement, operation, and maintenance
598of the Southwest Florida Transportation System, which the
599authority is hereby authorized to accept and apply to such
600purposes; the enforcement of payment and collection of rentals;
601and any other terms, provisions, or covenants necessary,
602incidental, or appurtenant to the making of and full performance
603under such lease-purchase agreement.
604     (4)  The department, as lessee under such lease-purchase
605agreement, is hereby authorized to pay as rentals thereunder any
606rates, fees, charges, funds, moneys, receipts, or income
607accruing to the department from the operation of the Southwest
608Florida Transportation System and may also pay as rentals any
609appropriations received by the department pursuant to any act of
610the Legislature of the state heretofore or hereafter enacted;
611provided, however, that nothing herein nor in such lease-
612purchase agreement is intended to nor shall this part or such
613lease-purchase agreement require the making or continuance of
614such appropriations, nor shall any holder of bonds issued
615pursuant to this part ever have any right to compel the making
616or continuance of such appropriations.
617     (5)  Said department shall have power to covenant in any
618lease-purchase agreement that it will pay all or any part of the
619cost of the operation, maintenance, repair, renewal, and
620replacement of said system, and any part of the cost of
621completing said system to the extent that the proceeds of bonds
622issued therefor are insufficient, from sources other than the
623revenues derived from the operation of said system. Said
624department may also agree to make such other payments from any
625moneys available to said commission, said county, or said city
626in connection with the construction or completion of said system
627as shall be deemed by said department to be fair and proper
628under any such covenants heretofore or hereafter entered into.
629     (6)  Said system shall be a part of the state road system
630and said department is hereby authorized, upon the request of
631the authority, to expend out of any funds available for the
632purpose such moneys, and to use such of its engineering and
633other forces, as may be necessary and desirable in the judgment
634of said department, for the operation of said authority and for
635traffic surveys, borings, surveys, preparation of plans and
636specifications, estimates of cost and other preliminary
637engineering, and other studies.
638     348.9939  Department may be appointed agent of authority
639for construction.--The department may be appointed by said
640authority as its agent for the purpose of constructing
641improvements and extensions to the Southwest Florida
642Transportation System and for the completion thereof. In such
643event, the authority shall provide the department with complete
644copies of all documents, agreements, resolutions, contracts, and
645instruments relating thereto and shall request the department to
646do such construction work including the planning, surveying, and
647actual construction of the completion, extensions, and
648improvements to the Southwest Florida Transportation System and
649shall transfer to the credit of an account of the department in
650the treasury of the state the necessary funds therefor, and the
651department shall thereupon be authorized, empowered, and
652directed to proceed with such construction and to use the said
653funds for such purpose in the same manner that it is now
654authorized to use the funds otherwise provided by law for its
655use in construction of roads and bridges.
656     348.994  Acquisition of lands and property.--
657     (1)  For the purposes of this part, the Southwest Florida
658Expressway Authority may acquire private or public property and
659property rights, including rights of access, air, view, and
660light, by gift, devise, purchase, or condemnation by eminent
661domain proceedings, as the authority may deem necessary for any
662of the purposes of this part, including, but not limited to, any
663lands reasonably necessary for securing applicable permits,
664areas necessary for management of access, borrow pits, drainage
665ditches, water retention areas, rest areas, replacement access
666for landowners whose access is impaired due to the construction
667of a facility, and replacement rights-of-way for relocated rail
668and utility facilities; for existing, proposed, or anticipated
669transportation facilities on the Southwest Florida
670Transportation System or in a transportation corridor designated
671by the authority. The authority shall also have the power to
672condemn any material and property necessary for such purposes.
673     (2)  The right of eminent domain herein conferred shall be
674exercised by the authority in the manner provided by law.
675     (3)  When the authority acquires property for a
676transportation facility or in a transportation corridor, it is
677not subject to any liability imposed by chapter 376 or chapter
678403 for preexisting soil or groundwater contamination due solely
679to its ownership. This section does not affect the rights or
680liabilities of any past or future owners of the acquired
681property, nor does it affect the liability of any governmental
682entity for the results of its actions which create or exacerbate
683a pollution source. The authority and the Department of
684Environmental Protection may enter into interagency agreements
685for the performance, funding, and reimbursement of the
686investigative and remedial acts necessary for property acquired
687by the authority.
688     348.9941  Cooperation with other units, boards, agencies,
689and individuals.--Express authority and power is hereby given
690and granted any county, municipality, drainage district, road
691and bridge district, school district, or any other political
692subdivision, board, commission, or individual in, or of, the
693state to make and enter into with the authority contracts,
694leases, conveyances, partnerships, or other agreements within
695the provisions and purposes of this part. The authority is
696hereby expressly authorized to make and enter into contracts,
697leases, conveyances, partnerships, and other agreements with any
698political subdivision, agency, or instrumentality of the state
699and any and all federal agencies, corporations, and individuals
700for the purpose of carrying out the provisions of this part.
701     348.9942  Covenant of the state.--The state does hereby
702pledge to and agrees with any person, firm, corporation, or
703federal or state agency subscribing to or acquiring the bonds to
704be issued by the authority for the purposes of this part that
705the state will not limit or alter the rights hereby vested in
706the authority and the department until all bonds at any time
707issued, together with the interest thereon, are fully paid and
708discharged insofar as the same affects the rights of the holders
709of bonds issued hereunder. The state does further pledge to and
710agree with the United States that in the event any federal
711agency shall construct or contribute any funds for the
712completion, extension, or improvement of the Southwest Florida
713Transportation System, or any part or portion thereof, the state
714will not alter or limit the rights and powers of the authority
715and the department in any manner which would be inconsistent
716with the continued maintenance and operation of the Southwest
717Florida Transportation System or the completion, extension, or
718improvement thereof or which would be inconsistent with the due
719performance of any agreements between the authority and any such
720federal agency, and the authority and the department shall
721continue to have and may exercise all powers herein granted, so
722long as the same shall be necessary or desirable for the
723carrying out of the purposes of this part and the purposes of
724the United States in the completion, extension, or improvement
725of the Southwest Florida Transportation System or any part or
726portion thereof.
727     348.9943  Exemption from taxation.--The effectuation of the
728authorized purposes of the authority created under this part is,
729shall, and will be in all respects for the benefit of the people
730of the state, for the increase of their commerce and prosperity,
731and for the improvement of their health and living conditions,
732and since such authority will be performing essential
733governmental functions in effectuating such purposes, such
734authority shall not be required to pay any taxes or assessments
735of any kind or nature whatsoever upon any property acquired or
736used by it for such purposes, or upon any rates, fees, rentals,
737receipts, income, or charges at any time received by it, and the
738bonds issued by the authority, their transfer, and the income
739therefrom, including any profits made on the sale thereof, shall
740at all times be free from taxation of any kind by the state, or
741by any political subdivision, taxing agency, or instrumentality
742thereof. The exemption granted by this section shall not be
743applicable to any tax imposed by chapter 220 on interest,
744income, or profits on debt obligations owned by corporations.
745     348.9944  Eligibility for investments and security.--Any
746bonds or other obligations issued pursuant to this part shall be
747and constitute legal investments for banks, savings banks,
748trustees, executors, administrators, and all other fiduciaries
749and for all state, municipal, and other public funds and shall
750also be and constitute securities eligible for deposit as
751security for all state, municipal, or other public funds,
752notwithstanding the provisions of any other law or laws to the
753contrary.
754     348.9945  Pledges enforceable by bondholders.--It is the
755express intention of this part that any pledge by the department
756of rates, fees, revenues, or other funds, as rentals, to the
757authority, or any covenants or agreements relative thereto, may
758be enforceable in any court of competent jurisdiction against
759the authority or directly against the department by any holder
760of bonds issued by the authority.
761     348.9946  This part complete and additional authority.--
762     (1)  The powers conferred by this part shall be in addition
763and supplemental to the existing powers of said board and the
764department, and this part shall not be construed as repealing
765any of the provisions of any other law, general, special, or
766local, but to supersede such other laws in the exercise of the
767powers provided in this part and to provide a complete method
768for the exercise of the powers granted in this part. The
769extension and improvement of said Southwest Florida
770Transportation System, and the issuance of bonds hereunder to
771finance all or part of the cost thereof, may be accomplished
772upon compliance with the provisions of this part without regard
773to or necessity for compliance with the provisions, limitations,
774or restrictions contained in any other general, special, or
775local law, including, but not limited to, s. 215.821, and no
776approval of any bonds issued under this part by the qualified
777electors or qualified electors who are freeholders in the state
778or in said Collier County or Lee County, or in any city within
779these two counties, or in any other political subdivision of the
780state, shall be required for the issuance of such bonds pursuant
781to this part.
782     (2)  This part shall not be deemed to repeal, rescind, or
783modify any other law or laws relating to said State Board of
784Administration, said Department of Transportation, or the
785Division of Bond Finance of the State Board of Administration
786but shall be deemed to and shall supersede such other law or
787laws as are inconsistent with the provisions of this part,
788including, but not limited to, s. 215.821.
789     Section 2.  Sunset of the Southwest Florida Expressway
790Authority's duties and powers.--The powers conferred to the
791Southwest Florida Expressway Authority and part X of chapter
792348, Florida Statutes, the statutory establishment of the
793Southwest Florida Expressway Authority, shall expire 12 years
794after this act takes effect if the Southwest Florida Expressway
795Authority has no outstanding indebtedness, no studies underway,
796no design underway, and no projects under construction and is
797not operating or maintaining any part of the system it was
798established to create.
799     Section 3.  Notwithstanding the provisions of s. 338.251,
800Florida Statutes, there is hereby appropriated for fiscal year
8012004-2005 the sum of $2.5 million to initially fund the
802Southwest Florida Transportation System. Notwithstanding the
803provisions of s. 338.251, Florida Statutes, all or a portion of
804this appropriation may be used for administrative and other
805startup costs of the Southwest Florida Expressway Authority and
806the system including, but not limited to, the hiring of an
807executive director, consultants, and staff.
808     Section 4.  This act shall take effect upon resolutions in
809support of this act being passed by both the Lee County Board of
810County Commissioners and the Collier County Board of County
811Commissioners, but no sooner than July 1, 2004, in the event the
812boards pass such resolutions prior to that date; except that,
813this section shall take effect upon this act becoming a law.


CODING: Words stricken are deletions; words underlined are additions.