159.30 Agreements of
lease. ---
(1) No project financed under the provisions of this
part shall be operated by the local agency or any other
governmental agency, except that the local agency may temporarily
operate or cause to be operated all or any part of a project to
protect its interest therein pending any leasing or sale of such
project in accordance with this part and, further, no institution
for higher education, as defined in s. 243.20(8), which offers the
baccalaureate or a higher degree shall be prevented from leasing or
operating any dormitory or other housing facility or a dining
facility for its own benefit to provide lodging or meals to
students in furtherance of a lawful public purpose. A project
acquired or constructed by a local agency, unless sold or
contracted to be sold, shall be leased to one or more persons,
firms, or private corporations for operation and maintenance in
such a manner as will effectuate the purposes of this part, under
an agreement of lease in form and substance not inconsistent
herewith. Any such agreement of lease may provide, among other
provisions, that:
(a) The lessee shall at its own expense operate, repair,
and maintain the project or projects leased thereunder.
(b) The rent payable under the lease will in the aggregate
be not less than an amount sufficient to pay all of the interest,
principal, and redemption premiums, if any, on the bonds that will
be issued by the local agency to pay the cost of the project or
projects leased thereunder.
(c) The lessee shall pay all other costs incurred by the
local agency in connection with the financing, construction, and
administration of the project or projects leased, except as may be
paid out of the proceeds of bonds or otherwise, including, but
without being limited to, insurance costs, the cost of
administering the bond resolution authorizing the bonds and any
trust agreement securing the bonds, and the fees and expenses of
trustees, paying agents, attorneys, consultants, and others.
(d) The term of the lease will terminate not earlier than
the date on which all such bonds and all other obligations incurred
by the local agency in connection with the project or projects
leased thereunder are paid in full, including interest, principal,
and redemption premiums, if any, or on which adequate funds for
such payment are deposited in trust.
(e) The lessee's obligation to pay rent shall not be
subject to cancellation, termination, or abatement by the lessee
until such payment of the bonds, or provision for such payment, is
made.
(2) Such agreement of lease may contain such
additional provisions as in the determination of the local agency
are necessary or convenient to effectuate the purposes of this
part, including provisions for extensions of the term and renewals
of the lease and vesting in the lessee an option to purchase the
project leased thereunder pursuant to such terms and conditions
consistent with this part as are prescribed in the lease; provided
that, except as may otherwise be expressly stated in the agreement
of lease to provide for any contingencies involving the damaging,
destruction, or condemnation of the project leased or any
substantial portion thereof, such option to purchase may not be
exercised unless all bonds issued for such project, including all
principal, interest, and redemption premiums, if any, and all other
obligations incurred by the local agency in connection with such
project have been paid in full or sufficient funds have been
deposited in trust for such payment; and provided further that the
purchase price of such project shall not be less than an amount
sufficient to pay in full all of the bonds, including all
principal, interest, and redemption premium, if any, issued for the
project then outstanding and all other obligations incurred by the
local agency in connection with such project.
History: s. 6, ch. 69-104; s. 5, ch. 80-287; s. 3, ch.
84-308.
