FL S0354

Creates the Seminole County Expressway Authority as a state agency with exclusive jurisdiction over expressway systems in Seminole County, with a seven-member governing body composed of five county commissioners and two municipal representatives appointed by the board of county commissioners.

Grants the authority power to acquire, construct, maintain, and operate the Seminole County Expressway System, including authority to issue bonds, establish tolls and fees, and exercise eminent domain for necessary property acquisition.

Authorizes the authority to enter into lease-purchase agreements with the Department of Transportation for terms up to 40 years, with the state receiving title to the expressway system upon completion and payment of all obligations.

Allows the authority to pledge gasoline tax funds and other revenues of Seminole County for bond repayment, subject to county commission approval by resolution at a public hearing with three weeks' notice.

Exempts the authority and its bonds from state and local taxation, designates authority bonds as legal investments for banks and fiduciaries, and provides that municipal consent is not required for authority projects, though affected municipalities must have opportunity for public hearing input.