Bill Text: FL H0219 | 2012 | Regular Session | Introduced

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Bill Title: Seminole County Expressway Authority

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2012-03-09 - Died in Transportation and Highway Safety Subcommittee [H0219 Detail]

Download: Florida-2012-H0219-Introduced.html

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HB 219

1	A bill to be entitled
2	An act relating to the Seminole County Expressway
3	Authority; creating the Seminole County Expressway
4	Authority Law; providing definitions; creating the
5	Seminole County Expressway Authority; prohibiting an
6	entity or body or another authority from exercising
7	jurisdiction, control, authority, or power over an
8	expressway system in Seminole County without the
9	consent of the Seminole County Expressway Authority;
10	providing for membership and terms of the authority;
11	authorizing staffing; providing for certain
12	reimbursement for authority members; providing for the
13	powers and duties of the authority; requiring notice
14	of public hearing and an opportunity for municipal
15	officials and residents to discuss and advise the
16	authority; providing for the issuance of bonds;
17	providing for lease-purchase agreements between the
18	Department of Transportation and the authority;
19	providing criteria for the lease-purchase agreements;
20	providing for use of certain revenues as payments for
21	the lease-purchase agreements; authorizing the
22	Department of Transportation to use funds for the
23	operation of the authority and to generate preparatory
24	information necessary for an expressway system;
25	providing for an agent for construction; authorizing
26	the authority to appoint the department as its agent
27	under certain circumstances; authorizing the authority
28	to acquire land and properties; providing for the
29	cooperation of other entities to further the purposes
30	of the act; prohibiting the state from changing the
31	terms of the bonds; exempting the authority from
32	certain taxes; providing for the bond's eligibility
33	for investments and security; providing for the
34	enforcement by bondholders of any pledge relating to
35	the bonds issued by the department; providing for the
36	extent of the powers authorized by the act; providing
37	an effective date.
38
39	Be It Enacted by the Legislature of the State of Florida:
40
41	Section 1.  Short title.-Sections 1-14 of this act may be
42	cited as the "Seminole County Expressway Authority Law."
43	Section 2.  Definitions.-As used in sections 1-14 of this
44	act, the term:
45	(1)  "Agency of the state" means the state and any
46	department of, or corporation, agency, or instrumentality
47	created, designated, or established by, the state.
48	(2)  "Authority" means the Seminole County Expressway
49	Authority.
50	(3)  "Bond" means a note, bond, refunding bond, or other
51	evidence of indebtedness or obligation, in temporary or
52	definitive form, which the authority issues pursuant to this
53	part.
54	(4)  "County" means Seminole County.
55	(5)  "Department" means the Department of Transportation
56	existing under chapters 334-339, Florida Statutes.
57	(6)  "Expressway" means the same as limited access
58	expressway.
59	(7)  "Federal agency" means the United States, the
60	President of the United States, and any department of, or
61	corporation, agency, or instrumentality created, designated, or
62	established by, the United States.
63	(8)  "Gasoline tax funds of Seminole County" mean all of
64	the 80 percent surplus gasoline tax funds accruing in each year
65	to the Department of Transportation for use in Seminole County
66	under the provisions of s. 9, Article XII of the State
67	Constitution, or all constitutional gas funds as may otherwise
68	be provided by the State Constitution or by statute for use in
69	Seminole County, after deduction of any amount of such gasoline
70	tax funds pledged by the Department of Transportation or the
71	county for outstanding obligations.
72	(9)  "Lease-purchase agreement" means an agreement that the
73	authority may enter into with the Department of Transportation
74	pursuant to this part.
75	(10)  "Limited access expressway" means a street or highway
76	especially designed for through traffic and over, from, or to
77	which no person has the right of easement, use, or access except
78	in accordance with the rules and regulations adopted by the
79	authority for the use of such facility. The street or highway
80	may be a parkway from which trucks, buses, and other commercial
81	vehicles are excluded, or it may be a freeway open to use by all
82	customary forms of street and highway traffic.
83	(11)  "Members" mean the governing body of the authority,
84	and the term "member" means one of the individuals constituting
85	the governing body.
86	(12)  "Seminole County Expressway System" or "system" means
87	any expressway and appurtenant facilities thereto in Seminole
88	County, including, but not limited to, all approaches, roads,
89	bridges, and avenues of access for the expressway.
90	(13)  "State Board of Administration" means the body
91	corporate existing under s. 9, Article XII of the State
92	Constitution or any successor thereto.
93	Section 3.  Seminole County Expressway Authority.-
94	(1)  There is created a body politic and corporate, an
95	agency of the state, to be known as the "Seminole County
96	Expressway Authority" and referred to as "authority."
97	(2)  The authority has exclusive right to exercise all the
98	powers under sections 1-14 of this act, and no other entity,
99	body, or authority within or without Seminole County may
100	directly or indirectly exercise jurisdiction, control,
101	authority, or power in any manner relating to any expressway
102	system within Seminole County without the express consent of the
103	authority or as otherwise provided in sections 1-14 of this act.
104	(3)  The governing body of the authority consists of seven
105	members. Five members must be members of the Board of County
106	Commissioners of Seminole County, and the term of each member is
107	concomitant with his or her term as a county commissioner. Two
108	members shall be appointed by the board of county commissioners
109	from among the duly elected municipal officers within the
110	county, and the municipal members serve 2-year terms unless
111	reappointed. Each 2-year term runs from the date of appointment
112	and automatically terminates if the member ceases to be a duly
113	elected municipal officer. The board of county commissioners
114	shall fill a municipal membership vacancy within 45 days after
115	the occurrence of the vacancy, and the board must appoint an
116	individual who is jointly recommended to the board of county
117	commissioners by two-thirds of the municipalities in the county
118	within 30 days after the vacancy.
119	(4)  The authority shall elect one of its members as chair
120	of the authority. The authority shall elect a secretary and a
121	treasurer, who need not be members of the authority. The chair,
122	secretary, and treasurer hold the office at the will of the
123	authority. Four members of the authority constitute a quorum,
124	and the affirmative vote of three members is necessary for any
125	action taken by the authority. A vacancy in the authority does
126	not impair the right of the quorum to exercise the rights and
127	perform the duties of the authority.
128	(5)  Each appointed member of the authority shall enter
129	upon his or her duties upon the effective date of his or her
130	appointment, or as soon thereafter as practicable.
131	(6)  The authority may employ an executive secretary, an
132	executive director, and its own counsel and legal staff,
133	technical experts, engineers, and other employees, permanent or
134	temporary, as it may require; determine the qualifications and
135	fix the compensation of the persons, firms, or corporations; and
136	employ a fiscal agent. However, the authority shall solicit at
137	least three sealed proposals for the performance of any services
138	as the fiscal agent. The authority may delegate to one or more
139	of its agents or employees any of its powers as it deems
140	necessary to carry out the purposes of sections 1-14 of this
141	act, subject to the supervision and control of the authority.
142	(7)  The authority shall reimburse its members for travel
143	and other necessary expenses incurred in connection with the
144	business of the authority as provided in s. 112.061, Florida
145	Statutes, but the members may not draw salaries or other
146	compensation.
147	Section 4.  Powers and duties.-
148	(1)(a)  The authority may acquire, hold, construct,
149	improve, maintain, operate, own, and lease, in the capacity of
150	lessor, the Seminole County Expressway System.
151	(b)  The authority, in the construction of the Seminole
152	County Expressway System, may construct any extension, addition,
153	or improvement to the system or appurtenant facilities,
154	including all necessary approaches, roads, bridges, and avenues
155	of access, with any change, modification, or revision of the
156	project as deemed necessary.
157	(2)  The authority may exercise all powers necessary,
158	appurtenant, convenient, or incidental to the implementation of
159	sections 1-14 of this act, including, but not limited to, the
160	following:
161	(a)  To sue and be sued, implead and be impleaded, and
162	complain and defend in all courts;
163	(b)  To adopt, use, and alter at will a corporate seal;
164	(c)  To acquire, purchase, hold, lease as lessee, and use
165	any franchise or property, real, personal, or mixed, tangible or
166	intangible, or any interest necessary to implement the purposes
167	of sections 1-14 of this act; and to sell, lease as lessor,
168	transfer, and dispose of, at any time, any property or interest
169	acquired by the authority;
170	(d)  To enter into and make leases for terms not exceeding
171	40 years, as lessee or lessor, and to implement the right to
172	lease as provided in sections 1-14 of this act;
173	(e)  To enter into and make lease-purchase agreements with
174	the department for terms not exceeding 40 years or until any
175	bond secured by a pledge of rental, and any refund, are fully
176	paid, whichever is longer;
177	(f)  To fix, alter, charge, establish, and collect rates,
178	fees, rentals, and other charges for the services and facilities
179	of the Seminole County Expressway System, which rates, fees,
180	rentals, and other charges are sufficient to comply with any
181	covenant made with the holders of any bonds issued pursuant to
182	sections 1-14 of this act; however, the authority may assign or
183	delegate to the department any of its rights and powers;
184	(g)1.  To borrow money as provided by the State Bond Act.
185	2.  To reimburse Seminole County for any sums expended from
186	the gasoline tax funds of Seminole County and any other revenues
187	provided to the authority by Seminole County and used for the
188	payment of the obligations. If the authority deems it
189	practicable, the authority may repay disbursed revenues from
190	Seminole County or gasoline tax funds, together with interest at
191	the highest rate applicable, to any obligations of the authority
192	for which funds or revenues were used to pay debt service.
193	3.  To hire and retain independent certified public
194	accountants and auditors to audit the books and records of the
195	authority and the department with respect to the Seminole County
196	Expressway System or any part thereof, so long as any bonds of
197	the authority are outstanding;
198	(h)  To make contracts and to execute all instruments
199	necessary to conduct its business;
200	(i)  Without limitation of the foregoing, to borrow money
201	and accept grants from, and to enter into contracts, leases, or
202	other transactions with, any federal agency, the state, any
203	agency of the state, Seminole County, or any other public body
204	of the state;
205	(j)  To have the power of eminent domain, including the
206	procedural powers granted under chapters 73 and 74, Florida
207	Statutes;
208	(k)  To pledge, hypothecate, or otherwise encumber all
209	parts of the revenues, rates, fees, rentals, or other charges or
210	receipts of the authority, including all or any portion of the
211	gasoline tax funds of Seminole County or other revenues received
212	by the authority pursuant to the terms of any lease-purchase
213	agreement between the authority and the department or any other
214	agreement between the authority and Seminole County, as security
215	for any of the obligations of the authority;
216	(l)  To do all acts necessary for the conduct of its
217	business and the general welfare of the authority in order to
218	implement the powers granted to it by sections 1-14 of this act
219	or any other law; and
220	(m)  To employ fiscal agents as provided by section 3 of
221	this act. The State Board of Administration may, upon request of
222	the authority, act as fiscal agent for the authority in the
223	issuance of any bonds that may be issued pursuant to section 5
224	of this act. The State Board of Administration may, upon request
225	of the authority, take over the management, control,
226	administration, custody, and payment of any debt service or fund
227	or asset available for any bond issued pursuant to section 5 of
228	this act. The authority may enter into a deed of trust, an
229	indenture, a resolution, or another agreement with its fiscal
230	agent, a financial institution, an insurance company, or a bank
231	or trust company within or without the state, as security for
232	the bonds, and may, under the agreement, sign and pledge any of
233	the revenues, rates, fees, rentals, or other charges or receipts
234	of the authority, including any portion of the gasoline tax
235	funds of Seminole County or other revenues received by the
236	authority pursuant to the terms of a lease-purchase agreement
237	between the authority and the department or any other agreement
238	between the authority and Seminole County. The deed of trust,
239	indenture, resolution, or other agreement may contain provisions
240	as are customary in such instruments, or, if the authority
241	authorizes, may include, without limitation, provisions as to:
242	1.  The completion, improvement, operation, extension,
243	maintenance, and repair of the Seminole County Expressway
244	System; the lease of, or lease-purchase agreement for, the
245	system; and the duties of the authority and others, including
246	the department.
247	2.  The availability and application of funds and the
248	safeguarding of funds on hand or on deposit.
249	3.  The rights and remedies of the trustee and the holders
250	of the bonds and any institution providing liquidity or credit
251	support for the bonds.
252	4.  The terms and provisions of the bonds or the
253	resolutions authorizing the issuance of the bonds.
254	5.  The terms and conditions pursuant to which the
255	authority or any trustee for the bonds is entitled to receive
256	any revenues from Seminole County to pay the principal of or
257	interest on the bonds.
258	(3)  The authority may not pledge the credit or taxing
259	power of the state or any political subdivision or agency of the
260	state, including Seminole County. The obligations of the
261	authority are not deemed obligations of the state, or any
262	political subdivision or agency of the state. The state, or any
263	political subdivision or agency of the state, except the
264	authority, is not liable for the payment of the principal of or
265	interest on the obligations. However, the gasoline tax funds of
266	Seminole County or other revenues may be pledged for the payment
267	of the principal of or interest on the obligations pursuant to
268	the terms of a lease-purchase agreement between the authority
269	and the department or any other agreement between the authority
270	and Seminole County.
271	(4)  The consent of a municipality is not necessary for any
272	project of the authority, notwithstanding any provision in
273	sections 1-14 of this act or any other law to the contrary or
274	whether the project lies within the boundaries of any
275	municipality, in whole or in part. However, an official or a
276	resident of a municipality in which a project of the authority
277	is located, in whole or in part, must have reasonable
278	opportunity to discuss the project and advise the authority of
279	his or her position at a duly advertised public hearing. Notice
280	of the public hearing must be advertised in a newspaper
281	published in Seminole County and circulated in the affected
282	municipalities. The notice must be published once at least 2
283	weeks before the public hearing and must contain the time and
284	place of the public hearing and a short description of the
285	subject to be discussed. The public hearing may be adjourned
286	from time to time and set for a time and place certain without
287	necessity of further advertisement. In routing and locating an
288	expressway or its interchange in or through a municipality, the
289	authority must consider the effect of such location on the
290	municipality as a whole and must not unreasonably split or
291	divide an area of the municipality or separate one area of the
292	municipality from another.
293	Section 5.  Bonds.-Bonds may be issued on behalf of the
294	authority as provided by the State Bond Act.
295	Section 6.  Lease-purchase agreement.-
296	(1)  The authority may enter into a lease-purchase
297	agreement with the department relating to and covering the
298	Seminole County Expressway System.
299	(2)  The lease-purchase agreement shall provide for the
300	leasing of the Seminole County Expressway System by the
301	authority, as lessor, to the department, as lessee; shall
302	prescribe the terms of the agreement and the rentals to be paid;
303	and shall provide that, upon the completion of the faithful
304	performance of the agreement and the termination of such lease-
305	purchase agreement, the authority shall transfer to the state
306	title in fee simple absolute to the Seminole County Expressway
307	System and the authority shall deliver to the department deeds
308	and conveyances necessary to vest title in fee simple absolute
309	in the state.
310	(3)  The lease-purchase agreement may include other
311	provisions, agreements, and covenants as the authority and the
312	department deem necessary, including, but not limited to,
313	provisions as to the bonds to be issued pursuant to this part;
314	the completion, extension, improvement, operation, and
315	maintenance of the Seminole County Expressway System and the
316	expenses and the cost of operation of the authority and the
317	system; the charging and collection of tolls, rates, fees, and
318	other charges for the use of the services and facilities; the
319	application of federal or state grants or aid made or given to
320	assist the authority in the completion, extension, improvement,
321	operation, and maintenance of the Seminole County Expressway
322	System, which the authority may accept and apply to these
323	purposes; the enforcement of payment and collection of rentals;
324	and any other terms, provisions, or covenants necessary,
325	incidental, or appurtenant to the making of, and full
326	performance under, the lease-purchase agreement.
327	(4)  The department, as lessee under such lease-purchase
328	agreement, may pay, as rentals under the agreement, any rates,
329	fees, charges, funds, moneys, receipts, or income accruing to
330	the department from the operation of the Seminole County
331	Expressway System and the gasoline tax funds or other revenues
332	of Seminole County used to pay the principal of or interest on
333	any obligations issued to finance any portion of the system and
334	may also pay, as rentals, any appropriations received by the
335	department pursuant to state law. The lease-purchase agreement
336	or any holder of bonds issued pursuant to section 5 of this act
337	may not require the making or continuance of any appropriations.
338	(5)  Gasoline tax funds or other revenues of Seminole
339	County may not be pledged as rentals under a lease-purchase
340	agreement or another agreement without the consent of Seminole
341	County, evidenced by a resolution adopted by the board of county
342	commissioners of the county at a public hearing held pursuant to
343	due notice thereof published at least once a week for 3
344	consecutive weeks before the hearing in a newspaper of general
345	circulation in the county. The resolution must provide that, for
346	bonds issued on behalf of the authority, any excess of the
347	pledged gasoline tax funds and other revenues of Seminole County
348	which is not required for debt service or for reserves for debt
349	service shall be distributed to Seminole County as provided by
350	law. Before making any application for the pledge of gasoline
351	tax funds, the authority shall present the plan of its proposed
352	project to the Seminole County Planning and Zoning Commission
353	for comments and recommendations. The department may covenant in
354	a lease-purchase agreement that it will pay all or part of the
355	cost of the system, and any part of the cost of completing the
356	system to the extent that the proceeds of bonds issued for the
357	project are insufficient, from sources other than the revenues
358	derived from the operation of the system and the gasoline tax
359	funds or any other revenue of Seminole County pledged for such
360	purpose. The department may agree to make payments from any
361	moneys available to Seminole County, in connection with the
362	construction or completion of the system, as deemed by the
363	department to be fair and proper under any covenant that is
364	entered into.
365	(6)  The system is a part of the state road system, and the
366	department may, upon the request of the authority, expend money
367	out of any funds available for the purpose and use its
368	engineering and other powers deemed necessary by the department
369	for the operation of the authority and for traffic surveys,
370	borings, surveys, preparation of plans and specifications,
371	estimates of cost, and other preliminary engineering and other
372	studies. However, the aggregate amount of moneys expended for
373	this purpose by the department may not exceed the sum of
374	$500,000.
375	Section 7.  Agent for construction.-The authority may
376	appoint the department as its agent for the construction of and
377	improvements and extensions to the Seminole County Expressway
378	System and for the completion of the system. If the department
379	is appointed, the authority shall provide the department with
380	complete copies of all documents, agreements, resolutions,
381	contracts, and instruments relating to the system; shall request
382	the department to do the construction work, including the
383	planning, surveying, and actual construction of the completion,
384	extension, and improvement to the Seminole County Expressway
385	System; and shall transfer the necessary funds for the
386	construction to the credit of an account of the department in
387	the State Treasury. The department shall proceed with the
388	construction and shall use the funds that are authorized for the
389	construction of roads and bridges.
390	Section 8.  Acquisition of lands and property.-
391	(1)  The Seminole County Expressway Authority may acquire
392	private or public property and property rights, including rights
393	of access, air, view, and light, by gift, devise, purchase, or
394	condemnation by an eminent domain proceeding, as the authority
395	deems necessary to implement sections 1-14 of this act. The
396	property that the authority may acquire includes, but is not
397	limited to, any land:
398	(a)  Reasonably necessary for securing applicable permits,
399	areas necessary for management of access, borrow pits, drainage
400	ditches, water retention areas, rest areas, replacement access
401	for landowners whose access is impaired due to the construction
402	of a facility, and replacement rights-of-way for relocated rail
403	and utility facilities;
404	(b)  For existing, proposed, or anticipated transportation
405	facilities on the Seminole County Expressway System or in a
406	transportation corridor designated by the authority; or
407	(c)  For the purposes of screening, relocation, removal, or
408	disposal of junkyards and scrap metal processing facilities.
409
410	The authority may condemn any material and property necessary
411	for these purposes.
412	(2)  The authority may exercise the right of eminent domain
413	in the manner provided by law.
414	(3)  If the authority acquires property for a
415	transportation facility or in a transportation corridor, the
416	authority is not subject to any liability imposed by chapter 376
417	or chapter 403, Florida Statutes, for preexisting soil or
418	groundwater contamination due solely to its ownership. This
419	section does not affect the rights or liabilities of any past or
420	future owners of the acquired property, nor does it affect the
421	liability of any governmental entity for the results of its
422	actions that create or exacerbate a pollution source. The
423	authority and the Department of Environmental Protection may
424	enter into an interagency agreement for the performance,
425	funding, and reimbursement of the investigative and remedial
426	acts necessary for property acquired by the authority.
427	Section 9.  Cooperation with other units, boards, agencies,
428	and individuals.-Any county, municipality, drainage district,
429	road or bridge district, school district, or any other political
430	subdivision, board, commission, or individual in or of the state
431	may make and enter into a contract, lease, conveyance, or other
432	agreement consistent with sections 1-14 of this act with the
433	authority. The authority may make and enter into a contract,
434	lease, conveyance, or other agreement with any political
435	subdivision, agency, or instrumentality of the state, any
436	federal agency, any corporation, or any individual to implement
437	sections 1-14 of this act.
438	Section 10.  Covenant of the state.-The state pledges to,
439	and agrees with, any person, firm, corporation, or federal or
440	state agency subscribing to or acquiring the bonds issued by the
441	authority pursuant to section 5 of this act that the state will
442	not limit or alter the rights vested in the authority and the
443	department until all bonds at any time issued, together with the
444	interest on the bonds, are fully paid and discharged. The state
445	pledges to, and agrees with, the United States that, when any
446	federal agency constructs or contributes any funds for the
447	completion, extension, or improvement of the Seminole County
448	Expressway System or any part or portion thereof, the state will
449	not alter or limit the rights and powers of the authority and
450	the department in any manner that would be inconsistent with the
451	continued maintenance and operation of the Seminole County
452	Expressway System or the completion, extension, or improvement
453	of the system, or that is inconsistent with the due performance
454	of the agreement between the authority and the federal agency.
455	The authority and the department have and may exercise all
456	powers granted in sections 1-14 of this act necessary to
457	implement the purposes of sections 1-14 of this act and the
458	purposes of the United States in the completion, extension, or
459	improvement of the Seminole County Expressway System or any part
460	or portion of the system.
461	Section 11.  Exemption from taxation.-The authority created
462	pursuant to sections 1-14 of this act is for the benefit of the
463	people of the state, for the increase of their commerce and
464	prosperity, and for the improvement of their health and living
465	conditions. Because the authority is performing essential
466	governmental functions in carrying out the purposes of sections
467	1-14 of this act, the authority is exempt from taxes or
468	assessments upon any property acquired or used by it for such
469	purposes, or upon any revenues, rates, fees, rentals, receipts,
470	income, or charges received by it. The bonds issued by the
471	authority, their transfer, and the income from the bonds,
472	including any profits made on the sale of the bonds, are at all
473	times free from taxation of any kind by the state or any
474	political subdivision, taxing agency, or instrumentality of the
475	state. However, the exemption granted by this section is not
476	applicable to any tax imposed under chapter 220, Florida
477	Statutes, on interest, income, or profits on debt obligations
478	owned by corporations. When a property of the authority is
479	leased, it is exempt from ad valorem taxes if the use by the
480	lessee qualifies the property for exemption under s. 196.199,
481	Florida Statutes.
482	Section 12.  Eligibility for investments and security.-Any
483	bonds or other obligations issued pursuant to sections 1-14 of
484	this act are legal investments for banks, savings banks,
485	trustees, executors, administrators, and all other fiduciaries,
486	and for all state, municipal, and other public funds, and are
487	securities eligible for deposit as security for all state,
488	municipal, or other public funds, notwithstanding the provisions
489	of any law.
490	Section 13.  Pledges enforceable by bondholders.-A pledge
491	by the department of rates, fees, revenues, gasoline tax funds
492	of Seminole County, or other funds as rentals to the authority,
493	or any covenant or agreement relative to the pledge, is
494	enforceable in any court of competent jurisdiction against the
495	authority or directly against the department by any holder of
496	bonds issued by the authority.
497	Section 14.  Complete and additional authority.-
498	(1)  The powers conferred by sections 1-14 of this act are
499	in addition to the existing powers of the authority and the
500	department, and sections 1-14 of this act do not repeal any of
501	the provisions of any other law, general, special, or local. The
502	extension and improvement of the Seminole County Expressway
503	System, and the issuance of bonds pursuant to section 5 of this
504	act to finance all or part of the cost of the system, may be
505	accomplished upon compliance with the provisions of sections 1-
506	14 of this act without regard to or necessity for compliance
507	with the provisions, limitations, or restrictions contained in
508	any other general, special, or local law. Approval of any bonds
509	issued under this part by qualified electors or qualified
510	electors who are freeholders in the state, in Seminole County or
511	in any other political subdivision of the state, is not required
512	for the issuance of bonds pursuant to section 5 of this act.
513	(2)  Sections 1-14 of this act do not repeal, rescind, or
514	modify any other law relating to the State Board of
515	Administration, the Department of Transportation, or the
516	Division of Bond Finance of the State Board of Administration,
517	but supersede any law that is inconsistent with the provisions
518	of sections 1-14 of this act.
519	Section 15.  This act shall take effect July 1, 2012.

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