Okaloosa County BOCC — April 27, 2013 — Pages from SB1132 — reading text

jurisdiction, in his, her, or its own name: 2164 (a) By mandamus or other suit, action, or proceeding at 2165 law, or in equity, enforce all rights of the bondholders, 2166| including the right to require the authority to fix, establish, 2167 maintain, collect, and charge rates, fees, rentals, and other 2168] charges, adequate to carry out any agreement as to, or pledge 2169| of, the revenues, and to require the authority to carry out any 2170| other covenants and agreements with or for the benefit of the 2171| bondholders, and to perform its and their duties under this 2172| chapter. 2173 (b) Bring suit upon the bonds. 2174 (c) By action or suit in equity, require the authority to 2175 account as if it were the trustee of an express trust for the Page 75 of 87 CODING: Words s¢*ieken are deletions; words underlined are additions. 2176 2177 2178 2179 2180 2181 2182 2183 2184 2185 2186 2187 2188 2189 2190 2191 2192 2193 2194 2195 2196 2197 2198 2199 2200 2201 2202 2203 2204 Florida Senate - 2013 SB 1132 22-00495B-13 20131132 bondholders. (d) By action or suit in equity, enjoin any acts or things that may be unlawful or in violation of the rights of the bondholders. (3) A trustee, if appointed pursuant to this section or acting under a deed of trust, indenture, or other agreement, and whether or not all bonds have been declared due_and payable, shall be entitled as of right to the appointment of a receiver. The receiver may enter upon and take possession of the system or the facilities or any part or parts of the system, the revenues and other pledged moneys, for and on behalf of and in the name of, the authority and the bondholders. The receiver may collect and receive all revenues and other pledged moneys in the same manner as the authority might do. The receiver shall deposit all such revenues and moneys in a separate account and apply all such revenues and moneys remaining after allowance for payment of all costs of operation and maintenance of the system in such manner as the court directs. In a suit, action, or proceeding by the trustee, the fees, counsel fees, and expenses of the trustee, and said receiver, if any, and all costs and disbursements allowed by the court must be a first charge on any revenues after payment of the costs of operation and maintenance of the system. The trustee also has all other powers necessary or appropriate for the exercise of any functions specifically set forth in this section or incident to the representation of the bondholders in the enforcement and protection of their rights. (4) This section or any other section of this chapter does not authorize a receiver appointed pursuant to this section for Page 76 of 87 CODING: Words strteken are deletions; words underlined are additions. 2205 2206 2207 2208 2209 2210 2211 2212 2213 2214 2215 2216 2217 2218 2219 2220 2221 2222 2223 2224 2225 2226 2227 2228 2229 2230 2231 2232 2233 Florida Senate - 2013 SB 1132 22-00495B-13 20131132 _ the purpose of operating and maintaining the system or any facilities or parts thereof to sell, assign, mortgage, or otherwise dispose of any of the assets belonging to the authority. The powers of such receiver are limited to the operation and maintenance of the system, or any facility or parts thereof and_to the collection and application of revenues and other moneys due the authority, in the name and for and on behalf of the authority and the bondholders, and a holder of bonds or any trustee does not have the right in any suit, action, or proceeding at law, or in equity, to compel a receiver, or any receiver may not be authorized or _any court may not be empowered to direct the receiver, to sell, assign, mortgage, or otherwise dispose of any assets of whatever kind or character belonging to the authority. 345.0007 Department to construct, operate, and maintain facilities.— (1) The department is the agent of each authority for the purpose of performing all_ phases of a project, including, but not Limited to, constructing improvements and extensions to_ the system. The division and the authority shall provide to the department complete copies of the documents, agreements, resolutions, contracts, and instruments that relate to the project and shall request that the department perform the construction work, including the planning, surveying, design, and actual construction of the completion, extensions, and improvements to the system. After the issuance of bonds to finance construction of an improvement or addition to the system, the division and the authority shall transfer to the credit of an account of the department_in the State Treasury the Page 77 of 87 CODING: Words st*ieker are deletions; words underlined are additions. Florida Senate - 2013 SB 1132 22~00495B-13 20131132 __ 2234; necessary funds for construction. The department shall proceed 2235| with construction and use the funds for the purpose authorized 2236| and as otherwise provided by law for construction of roads and 2237| bridges. An authority may alternatively, with the consent and 2238| approval of the department, elect to appoint a local agency 2239| certified by the department to administer federal aid projects 2240] in accordance with federal law as the authority’s agent for the 2241| purpose of performing each phase of a project. 2242 (2) Notwithstanding the provisions of subsection (1), the 2243| department is the agent of each authority for the purpose of 2244| operating and maintaining the system. The department shall 2245] operate and maintain the system, and the costs incurred by the 2246| department for operation and maintenance shall be reimbursed 2247 from revenues of the system. The appointment of the department 2248| as agent for each authority does not create an independent 2249| obligation of the department to operate and maintain a system. 2250| Each authority shall remain obligated as principal to operate 2251| and maintain its system, and an authority’s bondholders do not 2252] have an independent right to compel the department to operate or 2253| maintain the authority’s system. 2254 (3) Each authority shall fix, alter, charge, establish, and 2255 collect tolls, rates, fees, rentals, and other charges for the 2256| authority’s facilities, as otherwise provided in this chapter. 2257 345.0008 Department contributions to authority projects.— 2258 (1) The department may, at_the request of an authority, 2259} provide for or contribute to the payment of costs of financial 2260| or engineering and traffic feasibility studies and the design, 2261 financing, acquisition, or construction of an authority project 2262| or system, subject to appropriation by the Legislature. Page 78 of 87 CODING: Words steieken are deletions; words underlined are additions. Florida Senate - 2013 SB 1132 22-00495B-13 20131132 2263 (2) The department may use its engineering and other 2264] personnel, including consulting engineers and traffic engineers, 2265| to conduct feasibility studies pursuant to subsection (1). 2266 (3) An obligation or expense incurred by the department 2267| under this section is a part of the cost of the authority 2268] project for which the obligation or expense was incurred. The 2269| department may require money contributed by the department under 2270| this section to be repaid from tolls of the project on which the 2271| money was spent, other revenue of the authority, or other 2272| sources of funds. 2273 (4) The department shall receive from an authority a share 2274| of the authority’s net revenues equal to the ratio of the 2275| department’s total contributions to the authority under this 2276| section to the sum of: the department’s total contributions 2277| under this section; contributions by any local government _to the 2278| cost of revenue producing authority projects; and the sale 2279| proceeds of authority bonds after payment _of costs of issuance. 2280| For the purpose of this subsection, net revenues are gross 2281| xvevenues of an authority after payment of debt service, 2282| administrative expenses, operations and maintenance expenses, 2283] and all reserves required to be established under any resolution 2284| under which authority bonds are issued. 2285 345.0009 Acquisition of lands and _property.— 2286 (1) For the purposes of this chapter, an authority may 2287| acquire private or public property and property rights, 2288 including rights of access, air, view, and light, by gift, 2289| devise, purchase, condemnation by eminent domain proceedings, or 2290 transfer from another political subdivision of the state, as the 2291| authority may deem necessary for any of the purposes of this Page 79 of 87 CODING: Words steieken are deletions; words underlined are additions. 2292 2293 2294 2295 2296 2297 2298 2299 2300 2301 2302 2303 2304 2305 2306 2307 2308 2309 2310 2311 2312 2313 2314 2315 2316 2317 2318 2319 2320 Florida Senate - 2013 SB 1132 22-00495B-13 20131132 chapter, including, but not limited to, any lands reasonably necessary for securing applicable permits, areas necessary for management of access, borrow pits, drainage ditches, water retention areas, rest areas, replacement access for landowners whose access is impaired due to the construction of a facility, and replacement rights-of-way for relocated rail and utility facilities; for existing, proposed, or anticipated transportation facilities on the system or in a transportation corridor designated by the authority; or for the purposes of screening, relocation, removal, or disposal of junkyards and scrap metal processing facilities. Each authority shall also have the power to condemn any material and property necessary for such purposes. (2) An authority shall exercise the right of eminent domain conferred under this section in the manner provided by law. (3) If an authority acquires property for a transportation facility or in a transportation corridor, it is not subject _to any liability imposed by chapter 376 or chapter 403 for preexisting soil or groundwater contamination due solely to its ownership. This section does not affect the rights or liabilities of any past or future owners of the acquired property or affect the liability of any governmental entity for the results of its actions which create or exacerbate a pollution source, An authority and the Department of Environmental Protection may enter into interagency agreements for the performance, funding, and reimbursement of the investigative and remedial acts necessary for property acquired by the authority. 345.0010 Cooperation with other units, boards, agencies, Page 80 of 87 CODING: Words st*+eken are deletions; words underlined are additions. Florida Senate - 2013 SB 1132 22-00495B-13 20131132 2321] and individuals.—A county, municipality, drainage district, road 2322| and bridge district, school district, or any other political | 2323 subdivision, board, commission, or individual_in, or of, the 2324| state may make and enter into a contract, lease, conveyance, 2325| partnership, or other agreement with an authority within the 2326| provisions and purposes of this chapter. Each authority may make 2327 and enter into contracts, leases, conveyances, partnerships, and 2328| other agreements with any political subdivision, agency, or 2329| instrumentality of the state and_any federal agency, i 2330| corporation, and individual, to carry out the purposes of this 2331) chapter. 2332 345.0011 Covenant of the state.—The state pledges to, and 2333 agrees with, any person, firm, or corporation, or federal or 2334] state agency subscribing to, or acquiring the bonds to be issued 2335! by an authority for the purposes of this chapter that the state 2336| will not limit or alter the rights vested by this chapter in the 2337 authority and the department until all