UF00083631_00103.pdf

UF00083631_00103.txt

UF00083631_00103_pdf.txt

PATTERSON. FREEMAN. RICHARDSON I WATSON

Baum NATIONAL Bum Bunmo
Jacmnmu 2, how

December ,lwl

1mm Sun Tuna-tn Atmtoom
Tun-A. Fm

Gum. In :

We have examined It norm! 0! proeeetlingu relating to the instance of SISSIXDIXX) Turnpike Reve-
tttte Bumls. Series nl lan (herein called the I'th llmulu"l of Florida State Turnpike Authority (herein

called the .hmltority). a hotly eaqmrnte and politic created end exit-ling omler and by virtue nl (hunter
28l28. laws of Florida. Act: oi I953. u ememletl (herein called the "Turnpike Art").

The 1961 Mid. are inqu under and [mutant to the Turnpike Art and under and wrwant to 3
Trust lndenture (herein called the "lurk-mun) dated u of tletnher l. lan by ltl heureen the An-
thority and The Atltmtie Satirical Bank at jneismnrille. as Trustee. ml First National llenlt in St.
Petenhttr; and Miami Butch Pint Xotioml Bank. as Ctr-Trotters. lo oeeordmee with the pnwisiom
oi the lath-Mme. eeruio tertmai the Im hands have lam-rt determined by a resolution (herein celled

the Resolution; oi the Authority duly adopted on l%l.
The 1th Bonds are dated Kort-other l. Ile. hear interest at the rate at 9 per ammm

royals}: uni-annmlly on May I and Novemher I in each year. and restore on Sou-miter I. am.
Amortization Installment: for the "ml and: are themed to he due on the date: and in the ant-nth
setimhiottnelndeottoe. Thelma lhuhoremhjeet tomhqni-Iprioetomuityotheo-ooer
udmnnthetemuulmlirioum mutant:- lndeuoreutdthe Resolution. (it byan at the
Bond Retirement Fund mhlishni under the little-mare at any time out or after November I. Illv. and
(ii) otherwise. its I rrlmie only. at any time on or alter Noremher I. I973. The I'th "00th are in
mopon loan in the denontimtioo a! skill). or in registered [arm without mm in clenomirntiom
0! sum or my multiple 0! M. Comm and registered I'th Bonds are interehongedie es [mm'detl
in the intierttttre. The Ian Booth in east-on harm are mutthererl {run I guards.

The Authority renen'ee the right to issue additional lime! out the tertm and conditions. ml for the.
mnmea. stated in the lnrlertture. Under the provinimu of the inrlentttre nil atklitiottol liumh hailed
thereunder will rank gully u to ueeurlty and payment with the 1901 Bonds.

The 1?th Bond. were validated hy decree of the (Truth Court of Lent: County. Florida. mt Sqntem.
her H. mm. This decree was afrmed hy the Salter-me Court a! Florida mt November 2. mm (The
State a! Florida. r! .11.. v. Norm: Stale Turnpike .luthun'ty). end the decision at the Supreme Court at

7

Florida lteennte final on Novettther 19M. Certain lntmentm in the proceeding who alleged a viola-
tion at the l-lth Antendment nl the Federal Cmtitntitm are entitled at my time within 90 Int-1 alter the
entry rd nal judgment to le an unication for a writ oi eertionri in the United States Supreme ttmrt.
In one "pinion. melt allegations are without merit and il' melt application for t writ of oertiornri were led

it would he denied.

Welreofthelnrtherqriniontlnt:

I. The Authority is dnly created and validly itting under the rmvisitms of the Turnpike Art
and has good right and ltttt'lnl nnthnrity tn run-drum. nmintnln repair and nnernte annttllte Prnieet
No. I and Turnpike Project No. 2 (as dened in the lndentnre). and to x and charge toll and
other ehnmes in respect then-at and collect mm merchant and to net-tom all its obligations

mulerthelndentttteinthnuerespeets.

2. The Authority has the right and tmwrr under the Turnpike Act to enter into the Indentnre
and to adopt the Remlntinn. The lndentnre has been duly anthot'hted and muted end the Reunht-
tinn have been dnly whines! by the Authority. The lntlentttre and the Runhttiun are in full
tom and effect me! are valid and himlhtg ttpmt the Anthnritg and enftmaltle in ammlatwe with
their terms. and no other antlmrimtinn therefor in retntiml. The lndenlnre creates the valid pledge
which it [ntnnnrh to create it! the Revenues (as. dened in the Intlentttre t. subject ml; to the nmtliee.
lion the-rent tn the menses and on the ennditimns permitted hy the lnthntnre. All [detlgm n! and
lien: upon the res-ennui from the Amharity'u annltilte lrn}eet No. t given to secure nldieat'nms
other than the Bands have been dl-sehnmed and satised. and the Revenues (as dened in the
lndenturet are ttttl mhjeet to any lien prior to or at equal mule It'll}! the lien created he the indenture.
The several trusts created hy the Inth'ttlttlt' are valid trusts. and all Revenues umstltnthtg the trust
property Ill-ml. as and when received in aernnhtnee with the lndentnre. will he validly subjected
to the pledge and lien ereeted hy the lndentnre.

3. The Anthnrity is ettttmn'eretl and entitled to issue the WM Booth and the some have ln-en
duly and validly nnthnriml and hunted he the Authority in armrthnee with the ('tmptittttimt and
statutes of the State at Floridn. inelnrltnc the Turnpike Art. and the ludenlttre and Restlntiun.
and unmitth valid. binding and direct nltligattmts ed the Authority. enfnreenltle ltt mirthttre with
their term. and the ternnt at the lndentnre and are entitled to the benet. at the Turnpike Act
and at the lntkntttre.

4. Interest on the WM Bonds in exempt under the itting statute and mutt detinimm fmnt
Fulerttl htmme taxes. Under the Turnpike Art. the VI)! Bonds. their trnnster and the income
therelrnnt tlnelnding any prttt nude ntt the tale thereof) are exempt from taxation nitltin the
State at Fhrttlu.

5. The I'M! Bonds are legal llW-lmlli. ttmler the present provision: at Florida law. for
banks. saving: hunks. trust nmnnniea. raving: and loan amriatiom. ittvesnmmt eottttuttieyt. ittsttr-
nnee emnmniu. inmrttnee nuoeintitnte. administrators. mentors. guardians. tmsteeu and other
dttehriu in each State.

We have examined exernted I'M! Bond in mutton form numbered l. and in nttr alrtntnn the form it!
said hand and its extentim are regular and proper.

We are delivering: in copy 0f this opinion to the underwriters ut the 190] Honda tor the in Culmtdiml
with delimies of melt Bonds.

Your: very trnly.




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Floral:1 heer.u-1lic.nl o, Ni>vro:rce .leir.1 G ri:ta 51ervenera m lhileneNIET -al-o -.llio.1 ., .le isna of <11141h .\u-alumni ni fluFr:aler ti [im,91111;nn ;i rrrulii p.1 m tog lia, wi1hin "Il Ilie::til. -15 raltry la lei:lt julh:ns:-:it 1.I file au ;teillicalillo filt :1 e l~I vi aeri~ -rriri i!. 111:' l 2011. El N131r-911 ran l s'd hi m:relatin:1. sv.ch alb:0,:nn.-m r.ee wi!0:ul nwriard if 914-11al.01st:tuna ~ur a wn11-f vi.imoi: '.'.t-r -:!.-4 :: usul le skuieri. \narrri:1. 0116.701-.hh. u: !=.c-d''-.orr 1: s'h heir ir11's. aul the !!-run of !|tv !!-.:y11un will se:r v!diksi 10 ihe limi -b of jhe Turn|-.k: .\ct ma os she im!ctoire. .1 [nica st ..o el>c l'M [tmals & re erirl lo:,kr :he e.ias s1.ilul,' ;.d c.or1 sler,ion.fr.nu 1:Men:1 in:.s:ar :.x, 1~:1-kr tiis T iropit.c .\ci. Se I"n1 Banl,. 13rir I.:::ader an:1 en-rz.e.ae 110 rrir.a.1 iis hui.es .00 pndi in:tde u:1 ihr r:ta thereoil are railld (nr..1 L:Nation, u sibir> 10 51:lte of Finrill;s. 5. The tot 100"!.:ee !rt;a jove-.mitle. !".d--r 1hr in--em previal:, ei Firi.l.1 1;m, [ur bru'.|:/ 3:ts :a;;s I;1:i!<-. too.-l --ruir 6 s. s:11-t e ::ed !..:-.i.. .4:,.In.1., i :5-.. m.1:1 r. 1 -;a. --. i..-1: uwe cruity:.1: .-. innit:Iner :toornith>:1:-, :9|-.01 ,ifames. rv. eill''r:s planl .-3. I r11,1-. s .:::n| 1:09 r lisluti.iro:. in ,acle ,%ite. \\ b;ite l-s.:1-.la:til e:-.--e-.11-.el '' l-| 's-::i ': :--::!|11 in ;:'.r.''-'s 1. 41:':| i l s-!1r || -0 1.' '':: :--.-.'il a:,iis [5:0-1 innt it .E voien are roul:tr sul I.r<,ier Wi-:tailt-1; er'an.;tropyeiChi-opinian inav aallva.:i!rr...3 ihr l'sa I5-18". Er it.--: ".I.m.::U.d's trillt t|rlit rrie-. OI sich li