Sarasota and Manatee Counties; Creates University Town Center Improvement District, independent special taxing district, in Sarasota & Manatee Counties; provides purposes of district; establishes jurisdictional boundaries of district; provides powers of district; creates Board of Supervisors; provides for organization, powers, duties, terms of office, & compensation of board; provides for landowners' meetings & election of supervisors; provides ad valorem & non-ad valorem assessments; provides for issuance of bonds; provides minimum charter requirements; provides boundaries changes; provides severability.