State v. Tampa-Hillsborough County Expressway Authority

216 So. 2d 455, 1968 Fla. LEXIS 2040
CourtSupreme Court of Florida
DecidedDecember 6, 1968
DocketNo. 38085
StatusPublished

This text of 216 So. 2d 455 (State v. Tampa-Hillsborough County Expressway Authority) is published on Counsel Stack Legal Research, covering Supreme Court of Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
State v. Tampa-Hillsborough County Expressway Authority, 216 So. 2d 455, 1968 Fla. LEXIS 2040 (Fla. 1968).

Opinion

DREW, Justice.

This appeal is taken directly to this Court from a final decree of the trial court validating $46,000,000 Expressway Revenue Bonds, Series of 1968, of the Tampa-Hills-borough County Expressway Authority. The appeal has been prosecuted by the State Attorneys of the Second and Thirteenth Judicial Circuits, being respectively the Circuit in which the Capital is located and the Circuit in which the proposed improvements are to be constructed. Jim Fair, an intervenor in the lower court, was served with notice of the appeal and was permitted to participate in the oral argument before this Court. At the hearing he presented and argued two questions; one to “Stay and for other Relief”, the other “For Copies of Pleadings and Notice of Circuit Court Cases”. Both motions are hereby denied. The questioned decree is as follows:

“The above and foregoing cause having come on for final hearing on the date and at the time and place set forth in the order to show cause heretofore issued by this Court and in the notice addressed to the State of Florida and the several property owners, taxpayers and citizens of the State of Florida, including non-residents owning property or subject to taxation therein, and all others having or claiming any fight, title or interest in property to be affected by the issuance by the Tampa-Hillsborough County Expressway Authority (herein referred to as ‘Authority') of $46,000,000 Expressway Revenue Bonds, Series of 1968, hereinafter more particularly described, or to be affected in any way thereby, and as heretofore issued against the State of Florida on Complaint of said Authority, and the answers of the Honorable William D. Hopkins, State Attorney for the Second Judicial Circuit of Florida, and Delbert L. McLaughlin, the Assistant State Attorney for the Thirteenth Judicial Circuit of Florida, having been filed herein, and Jim Fair, Defendant, having intervened and filed an answer herein, and the Court having considered the same and having heard the evidence and being fully advised in the premises finds as follows:

“FIRST: That the Tampa-Hillsborough County Expressway Authority (hereinafter referred to as ‘Authority’) was duly created under and pursuant to Chapter 348, Part III, Laws of Florida, Acts of 1945, and acts amendatory thereof and supplemental thereto (hereinafter collectively referred to as ‘Act’) ; that the Authority is empowered to acquire, hold, construct, improve, maintain, operate, own and lease an expressway system in the County of Hillsborough (hereinafter referred to as ‘Expressway System’).
“SECOND: That the Authority has determined that it is now necessary and in the best interest of the Authority, Hillsborough [457]*457County, the State of Florida and the citizens and inhabitants of Hillsborough County that an initial part of the Expressway System (hereinafter referred to as ‘1968 Project’), within the meaning of the Act be constructed substantially in accordance with the engineering report of J. E. Greiner Company and Watson and Company, Tampa, Florida, Consulting Engineers of the Authority, dated December, 1967, as amended.
“THIRD: That the Authority has heretofore presented the plan of the 1968 Project to the Hillsborough County Planning and Zoning Commission and has received the comments and favorable recommendation of such Commission.
“FOURTH: That for the purpose of providing for the acquisition and construction of the 1968 Project the Authority by resolution adopted on the 22nd day of October, 1968, as amended, has duly authorized the issuance of revenue bonds in the aggregate principal amount of not exceeding Forty-Six Million Dollars ($46,000,000) designated as ‘Expressway Revenue Bonds, Series of 1968’ (hereinafter called the ‘Bonds’), on the terms and conditions therein provided, secured by a pledge by the State Road Department of Florida pursuant to the Act and the Lease — Purchase Agreement, hereinafter referred to, of all the Revenues from such Expressway System and the Hillsborough County Gasoline Tax Funds, as therein defined, (subject to the prior lien thereon of certain outstanding obligations heretofore issued by the Florida Development Commission and the State Road Department for the payment of which such funds are pledged), which pledge has been consented to by Hillsborough County as evidenced by a resolution heretofore duly adopted by the Board of County Commissioners of Hillsborough County.
“FIFTH: That the Revenues to be derived from said Expressway System of the-Authority, together with said Hillsborough County Gasoline Tax Funds, will be sufficient to pay the principal of and interest on all of the Bonds issued pursuant to the resolution and the Trust Agreement contained therein, and to make all reserve and sinking fund and other payments provided for in said resolution.
“SIXTH: That the principal of and interest on the Bonds to be issued pursuant to said resolution and Trust Agreement, and all of the reserve or sinking fund and other payments provided for in said resolution and Trust Agreement will be paid solely from the Revenues derived by the Authority from said Expressway System and said Hillsborough County Gasoline Tax Funds, and it will never be necessary for the ad valorem taxing power of the County of Hillsborough or the City of Tampa or of the State of Florida, or any political subdivision thereof to be used to pay the principal or interest on the Bonds to be issued pursuant to said resolution and Trust Agreement, or to make any of the reserve or sinking fund or other payments provided for in said resolution or Trust Agreement.
“SEVENTH: That said resolution provides for the issuance of said $46,000,000 Bonds to be dated September 1, 1968, to bear interest at a rate or rates not exceeding six per centum (6%) per annum to be determined upon the sale thereof, and maturing $18,000,000 on September 1, 1992, and $28,000,000 on September 1, 2008, and authorizes the execution of a Trust Agreement between the Authority and a Trustee and Co-Trustee to be hereafter designated by resolution of the Authority for the further security, rights and remedies of the holders of said Bonds. The resolution and Trust Agreement fix the form and other details of said Bonds and provide for the manner of issuance thereof and further provide that the holders of said Bonds shall never have the right to require or compel the exercise of the ad valorem taxing power of the City of Tampa, the County of Hills-borough or any political subdivision thereof, or the taxation of real estate in said City or County, or any political subdivision thereof, for the payment of the principal of or interest on said Bonds or for the making of [458]*458any reserve or sinking fund payments provided for in the resolution or Trust Agreement.
“EIGHTH: That said Bonds are of the character and the said proceedings preliminary to the issuance thereof are of the nature as entitled the Plaintiff to proceed under the provisions of Chapter 75, Florida Statutes [F.S.A.], for the purpose of having the right to issue said Bonds determined.

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Bluebook (online)
216 So. 2d 455, 1968 Fla. LEXIS 2040, Counsel Stack Legal Research, https://law.counselstack.com/opinion/state-v-tampa-hillsborough-county-expressway-authority-fla-1968.