| Background and Statutory References
In August of 1999, the city of Gulf
Breeze, Florida and the town of Century, Florida, entered into inter
local agreement to create the Capital Trust Agency. Pursuant to
Section 163.01, Chapter 125, Chapter 166, and Chapter 159, Florida
Statutes, as amended, together with all home rule powers granted by
the Constitution and laws of the State of Florida, the cities
entered into this agreement on behalf of themselves and any future
participating governmental unit.
The agreement states
in part, "The parties have determined that for administrative
convenience, it's desirable to create a separate legal entity (the
"Agency" hereinafter described), for the public purpose of
promoting, planning, establishing, financing, acquiring,
constructing, equipping, operating, maintaining, repairing, and
leasing Projects (as defined) and establishing, implementing,
financing, and administering Programs.
This agreement
created an independent public body corporate and politic of the
state of Florida. To the extent not inconsistent with general or
special law, powers included under the purpose and objectives of the
Agency, but not restricted to, are:
Powers of CTA
- The ability to adopt its own rules of
procedure, select its officers, and set the times and places of
its official meetings.
- Sue and be sued in its own name and
compromise and settle claims by and against it.
- Enter into agreements with other Public
Agencies for the joint performance, or performance by one unit in
behalf of the other, of any of either agency's authorized
purposes.
- Enter contracts and other undertakings
necessary or desirable to carry out the purposes of the Agency and
to finance Projects and Programs.
- Borrow money and issue Bonds for the
purpose of providing funds for Programs and Projects.
- Adopt resolutions necessary for the
exercise of its powers.
- Employ attorneys, architects, engineers,
independent financial firms, trust companies, financial
consultants, accounting firms, and others and to contract or
otherwise provide for audits of any of its funds, accounts, and
financial records.
- Own, acquire, purchase, hold, convey,
lease, sublease, lease-purchase, mortgage, lend, transfer,
exchange, dispose of and encumber any real or personal property
necessary or convenient for the purposes of the Agency, with or
without consideration.
- Operate, maintain, promote, develop,
design, support, prepare, acquire, construct, equip, renovate,
reconstruct, and repair any Project or any portion thereof.
- Exercise any and all powers, authorities,
rights, protections, and immunities authorized under the
sponsoring agreement in the Agency's own name.
- Solicit, make claims for, perfect, accept
and receive gifts, bequests, funds, grants, aid, assistance or
contributions.
- Acquire by purchase, whenever the Agency
deems expedient, any facility, wholly or partly constructed, and
any franchise, easements, permits, and contracts for the
construction of any Project, upon such terms and at such prices as
may be reasonable and can be agreed upon between the Agency and
the owner thereof, title to be taken in the name of the Agency,
and issue Bonds to pay the cost of acquisition of any
Project.
- To issue any Bonds for any purpose for
which municipalities of the state of Florida may lawfully issue
bonds to finance Programs and Projects, and to make loans for such
purposes to private, not-for-profit, and governmental
corporations.
- No enumeration of powers granted by the
agreement shall be deemed exclusive or restrictive, but shall be
deemed to incorporate all implied powers necessary or incident to
the carrying out of such enumerated powers including,
specifically, authority to employ personnel, expend funds and
enter into contractual obligations, all in furtherance of the
projects or programs the agency may undertake. The Agency shall
not have the power to levy or collect taxes, nor the police or
other governmental regulatory power, nor the power of eminent
domain.
- The Agency is an instrumentality of the
City of Gulf Breeze and the Town of Century, acting on behalf of
such municipalities, which may lawfully be exercised by either
such municipality in the purposes of and objectives
hereof.
- Since its inception, the Agency has
fulfilled its objectives by issuing affordable housing bonds,
validated through judicial proceedings the issuance of a national
healthcare financing program, entered into interlocal agreement a
capital project financing for non profit hospitals, passed
authorizing resolutions to assist sovereign native American Indian
tribes to fund capital projects, and passed authorizing
resolutions to finance air cargo handling facilities at public
airports. All financing to date have included tax-exempt bonds
meeting the tests of public purpose as opined by recognized
national law firms.
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