Florida Senate - 2009                          SENATOR AMENDMENT
       Bill No. CS for CS for CS for SB 2104
       
       
       
       
       
       
                                Barcode 731466                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                                       .                                
                                       .                                
                                       .                                
                Floor: 6/F/2R          .                                
             04/29/2009 02:46 PM       .                                
       —————————————————————————————————————————————————————————————————




       —————————————————————————————————————————————————————————————————
       Senator Dockery moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 689 and 690
    4  insert:
    5         Section 12. Subsection (5) is added to section 373.584,
    6  Florida Statutes, to read:
    7         373.584 Revenue bonds.—
    8         (5)(a) The total annual debt service for bonds issued
    9  pursuant to this section and s. 373.563 may not exceed 15
   10  percent of the annual ad valorem tax revenues of the water
   11  management district, unless approved by the Joint Legislative
   12  Budget Commission.
   13         (b) The Joint Legislative Budget Commission is authorized
   14  to review the financial soundness of a water management district
   15  and determine whether bonds may be issued by a water management
   16  district in excess of the limitation of paragraph (a).
   17         (c) A water management district may not take any action
   18  regarding the issuance of bonds in excess of the limitation in
   19  paragraph (a) without the prior approval of the Joint
   20  Legislative Budget Commission pursuant to joint rules of the
   21  Senate and the House of Representatives.
   22         (d) Bonds issued and outstanding prior to January 1, 2009,
   23  in excess of the limitation in paragraph (a) are not a violation
   24  of these provisions and shall not be included in the calculation
   25  of the limitation.
   26         (e) Notwithstanding any other provision of law, bonds
   27  issued pursuant to this section and s.373.563 may not be used
   28  for the acquisition of real property.
   29         (f) Nothing contained in this subsection shall affect the
   30  validity or enforceability of outstanding revenue bonds.
   31  
   32  ================= T I T L E  A M E N D M E N T ================
   33         And the title is amended as follows:
   34         Delete line 54
   35  and insert:
   36         owned submerged lands; amending s. 373.584, F.S.;
   37         providing for a cap on revenues pledged for debt
   38         service; providing for legislative approval to exceed
   39         the cap; prohibiting the use of bonds for the
   40         acquisition of real property; exempting certain
   41         outstanding revenue bonds; amending s. 376.30702,
   42         F.S.;