The Santa Rosa Bay Bridge Authority is asking Florida Gov. Rick Scott and the Santa Rosa County Commission to add new members so it can keep meeting.
The board, which has $131.2 million of debt in default, has four members and all of them must show up and vote affirmatively to conduct any business. A full board would be seven members appointed by Scott and the County Commission.
The agency, which met last week, also agreed to request funding for an audit from the trustee, Bank of New York Mellon. The Bridge Authority has not had an audit since 2000 due to the lack of funding. The next meeting date is July 10.
Bonds sold in 1996 were used to build the Garcon Point toll road in northwest Florida. It never met traffic projections and reserves were used to help make debt-service payments until the first payment default occurred on July 1, 2011. In January, BNY Mellon accelerated debt payments due to ongoing defaults.