Fla. Stat. 338.229
Pledge to bondholders not to restrict certain rights of department

The state does pledge to, and agree with, the holders of the bonds issued pursuant to ss. 338.22-338.241 that the state will not limit or restrict the rights vested in the department to construct, reconstruct, maintain, and operate any turnpike project as defined in ss. 338.22-338.241 or to establish and collect such tolls or other charges as may be convenient or necessary to produce sufficient revenues to meet the expenses of maintenance and operation of the turnpike system and to fulfill the terms of any agreements made with the holders of bonds authorized by this act and that the state will not in any way impair the rights or remedies of the holders of such bonds until the bonds, together with interest on the bonds, are fully paid and discharged. In implementing this section, the department is specifically authorized to provide for further restrictions on the sale, transfer, lease, or other disposition or operation of any portion of the turnpike system which reduces the revenue available for payment to bondholders.

Source: Section 338.229 — Pledge to bondholders not to restrict certain rights of department, https://www.­flsenate.­gov/Laws/Statutes/2024/0338.­229 (accessed Aug. 7, 2025).

338.01
Authority to establish and regulate limited access facilities 338.04
Acquisition of property and property rights for limited access facility and service roads 338.22
Florida Turnpike Enterprise Law 338.26
Alligator Alley toll road 338.151
Authority of the department to establish tolls on the State Highway System 338.155
Payment of toll on toll facilities required 338.161
Authority of department or toll agencies to advertise and promote electronic toll collection 338.165
Continuation of tolls 338.166
High-occupancy toll lanes or express lanes 338.221
Definitions 338.222
Department of Transportation sole governmental entity to acquire, construct, or operate turnpike projects 338.223
Proposed turnpike projects 338.225
Taking of public road for feeder road 338.227
Turnpike revenue bonds 338.228
Bonds not debts or pledges of credit of state 338.229
Pledge to bondholders not to restrict certain rights of department 338.231
Turnpike tolls, fixing 338.232
Continuation of tolls upon provision for payment of bondholders and assumption of maintenance by department 338.234
Granting concessions or selling along the turnpike system 338.235
Contracts with department for provision of services on the turnpike system 338.236
Staging areas for emergencies 338.237
Municipal signs on the turnpike system rights-of-way 338.239
Traffic control on the turnpike system 338.241
Cash reserve requirement 338.2215
Florida Turnpike Enterprise 338.2216
Florida Turnpike Enterprise 338.2275
Approved turnpike projects 338.2276
Western Beltway turnpike project 338.2511
Deposit and use of funds in Toll Facilities Revolving Trust Fund

Current through Fall 2025

§ 338.229. Pledge to bondholders not to restrict certain rights of department's source at flsenate​.gov