Florida Senate - 2014                        COMMITTEE AMENDMENT
       Bill No. CS for SB 230
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/13/2014           .                                

    1         Senate Amendment (with title amendment)
    3         Delete lines 1159 - 1205
    4  and insert:
    5         Section 1. (1) While the governing body of the authority,
    6  upon the effective date of this act, has one or more members
    7  from Osceola County as provided in s. 348.753(3), Florida
    8  Statutes, and the authority has the purposes and powers
    9  described in s. 348.754, Florida Statutes, regarding Osceola
   10  County, the Osceola County Expressway Authority shall continue
   11  solely for the purpose of planning and construction of the
   12  Poinciana Parkway as provided and permitted in this subsection.
   13  Upon the earlier of December 31, 2016, or the completion of
   14  construction of the Poinciana Parkway, a limited access facility
   15  of approximately 9 miles in length in Osceola County with its
   16  northwestern terminus at the intersection of County Road 54 and
   17  US 17/US 92 and its southeastern terminus at the current
   18  intersection of Rhododendron and Cypress Parkway, described in
   19  the Osceola County Expressway Authority May 8, 2012, Master
   20  Plan, all powers, governance, and control of the Osceola County
   21  Expressway System, created pursuant to part V, chapter 348,
   22  Florida Statutes, is transferred to the Central Florida
   23  Expressway Authority, and the assets, liabilities, facilities,
   24  tangible and intangible property and any rights in the property,
   25  and any other legal rights of the Osceola County Expressway
   26  Authority are transferred to the Central Florida Expressway
   27  Authority. Part V of chapter 348, Florida Statutes, consisting
   28  of ss. 348.9950–348.9961, is repealed on the same date that the
   29  Osceola County Expressway System is transferred to the Central
   30  Florida Expressway Authority.
   31         (2) The Central Florida Expressway Authority shall comply
   32  with any and all obligations of any other governmental entities
   33  incurred on behalf of the Osceola County Expressway System,
   34  including any obligations of Osceola County with respect to
   35  operations and maintenance of the Osceola County Expressway
   36  System and any loan repayment obligations, including repayment
   37  obligations with respect to State Infrastructure Bank loans.
   38  Except with respect to the bonds or other debt obligations
   39  originally issued by Osceola County or the Osceola County
   40  Expressway Authority for purposes of financing the planning and
   41  construction of the Poinciana Parkway as provided and permitted
   42  in subsection (1), which shall remain solely subject to the
   43  covenants and agreements of Osceola County to make payments for
   44  any debt service shortfalls, payment obligations transferred to
   45  the Central Florida Expressway Authority shall be made from
   46  revenues available for such purpose after payment of all amounts
   47  required:
   48         (a) Otherwise by law;
   49         (b) By the terms of any resolution authorizing the issuance
   50  of bonds by the authority, the Orlando-Orange County Expressway
   51  Authority, or the Osceola County Expressway Authority;
   52         (c) By the terms of any resolution under which bonds are
   53  issued by Osceola County for the purpose of constructing
   54  improvements to the Osceola County Expressway System; and
   55         (d) By the terms of the memorandum of understanding between
   56  the Orlando-Orange County Expressway Authority and the
   57  department as ratified by the board of the Orlando-Orange County
   58  Expressway Authority on February 22, 2012.
   59         Section 2. The Division of Law Revision and Information is
   60  directed to replace the phrase “the effective date of this act”
   61  wherever it occurs in this act with the date the act becomes a
   62  law.
   63  Section 3. This act shall take effect upon becoming a law.
   65  ================= T I T L E  A M E N D M E N T ================
   66  And the title is amended as follows:
   67         Delete line 61
   68  and insert:
   69         other obligations; providing a directive to the
   70         Division of Law Revision and Information; providing an
   71         effective date.