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| 1 | CHAMBER ACTION | ||
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| 3 | |||
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| 6 | The Committee on Local Government & Veterans' Affairs recomends | ||
| 7 | the following: | ||
| 8 | |||
| 9 | Committee Substitute | ||
| 10 | Remove the entire bill and insert: | ||
| 11 | A bill to be entitled | ||
| 12 | An act relating to the Manatee County Port Authority; | ||
| 13 | codifying, reenacting, amending, and repealing special | ||
| 14 | acts related to the Port Authority; providing a charter; | ||
| 15 | providing for formation as a dependent special district; | ||
| 16 | providing for the operation of the port authority; | ||
| 17 | providing for powers, functions, and duties; providing for | ||
| 18 | construction and effect; providing an effective date. | ||
| 19 | |||
| 20 | Be It Enacted by the Legislature of the State of Florida: | ||
| 21 | |||
| 22 | Section 1. Pursuant to section 189.429, Florida Statutes, | ||
| 23 | this act constitutes the codification of all special acts | ||
| 24 | relating to the Manatee County Port Authority. It is the intent | ||
| 25 | of the Legislature to provide a single, comprehensive special | ||
| 26 | act charter for the district including all current legislative | ||
| 27 | authority granted to the district by its several legislative | ||
| 28 | enactments as herein provided, and any additional authority | ||
| 29 | granted by this act and chapters 189 and 315, Florida Statutes, | ||
| 30 | as the same may be amended from time to time. It is further the | ||
| 31 | intent of this act to preserve all district authority. | ||
| 32 | Section 2. Chapters 67-1681, 69-1277, 69-1279, 74-532, and | ||
| 33 | 75-428, Laws of Florida, relating to the Manatee County Port | ||
| 34 | Authority, are codified, reenacted, amended, and repealed as | ||
| 35 | provided herein. | ||
| 36 | Section 3. The Manatee County Port Authority is re-created | ||
| 37 | and reenacted to read: | ||
| 38 | Section 1. District formation ratified, restated, and | ||
| 39 | approved.--The Manatee County Port Authority (Port Authority) as | ||
| 40 | initially established pursuant to chapter 67-1681, Laws of | ||
| 41 | Florida, and thereafter amended as provided by special acts of | ||
| 42 | the Legislature, is ratified, confirmed, and approved. | ||
| 43 | Section 2. Establishment.--The Port Authority, a dependent | ||
| 44 | special district, is established for all purposes set forth in | ||
| 45 | this act and chapters 189 and 315, Florida Statutes, as the same | ||
| 46 | may be amended from time to time. This charter may be amended | ||
| 47 | only by special act of the Legislature. | ||
| 48 | Section 3. Popular name.--This charter shall be known and | ||
| 49 | may be cited as the Manatee County Port Authority Act. | ||
| 50 | Section 4. Definitions.--As used in this charter, the | ||
| 51 | following words and terms shall have the following meanings: | ||
| 52 | (1) “Port Authority” shall mean the Board of County | ||
| 53 | Commissioners of Manatee County, Florida, acting as a Manatee | ||
| 54 | County Port Authority. When conducting business as a Port | ||
| 55 | Authority, the board of county commissioners shall use the name | ||
| 56 | of Manatee County Port Authority. | ||
| 57 | (2) “Port facilities” shall mean and shall include harbor, | ||
| 58 | shipping, and port facilities and improvements of every kind, | ||
| 59 | nature, and description, including, but not limited to, | ||
| 60 | channels, turning basins, jetties, breakwaters, public landings, | ||
| 61 | wharves, docks, markets, parks, recreational facilities, | ||
| 62 | structures, buildings, piers, storage facilities, public | ||
| 63 | buildings and plazas, anchorages, utilities, bridges, tunnels, | ||
| 64 | roads, railroads, causeways, port-related aviation facilities | ||
| 65 | such as helipads, and any and all property and facilities | ||
| 66 | necessary or useful in connection with the foregoing, and any | ||
| 67 | one or more of any combination thereof and any extension, | ||
| 68 | addition, betterment, or improvement of any thereof. | ||
| 69 | (3) “Cost” as applied to any port facilities shall mean | ||
| 70 | and shall include the cost of acquisition or construction, the | ||
| 71 | cost of all labor, materials, machinery, and equipment, the cost | ||
| 72 | of all lands, property, rights, easements, and franchises | ||
| 73 | acquired, financing charges, interest prior to and during | ||
| 74 | construction and for 1 year after completion of construction, | ||
| 75 | cost of plans and specifications, surveys and estimates of cost | ||
| 76 | and of revenues, cost of engineering and legal services, all | ||
| 77 | other expenses necessary or incident to determining the | ||
| 78 | feasibility or practicability of such construction, the cost of | ||
| 79 | acquiring or improving, enlarging, and extending existing port | ||
| 80 | facilities and preparing the same for sale or lease to provide | ||
| 81 | funds for financing port facilities under the provisions of this | ||
| 82 | charter, if in the determination of the governing body, such | ||
| 83 | acquisition, such improvement, enlargement, and extension, or | ||
| 84 | such preparation for sale or lease are necessary to such | ||
| 85 | financing, administrative expenses, and such other expenses as | ||
| 86 | may be necessary or incident to any financing herein authorized. | ||
| 87 | Any obligation or expense heretofore or hereafter incurred by | ||
| 88 | Manatee County and/or the Manatee County Port Authority in | ||
| 89 | connection with any of the foregoing items of cost may be | ||
| 90 | regarded as a part of such cost and reimbursed to Manatee County | ||
| 91 | and/or the Manatee County Port Authority out of the proceeds of | ||
| 92 | port facilities bonds issued under the provisions of this | ||
| 93 | charter. | ||
| 94 | Section 5. Public purpose declared.--It is hereby | ||
| 95 | determined and declared that each and all of the powers | ||
| 96 | conferred by this charter and the exercise thereof are proper | ||
| 97 | public and county purposes. | ||
| 98 | Section 6. Grant of powers.--The Port Authority, in | ||
| 99 | addition to any and all powers granted to it by section 315.03, | ||
| 100 | Florida Statutes, other laws, general, local or special, is | ||
| 101 | hereby authorized and empowered: | ||
| 102 | (1) To acquire by purchase, grant, gift, or lease, or by | ||
| 103 | the exercise of the right of eminent domain, and to hold and | ||
| 104 | dispose of any property, real or personal, tangible or | ||
| 105 | intangible, or any right or interest in any such property, for | ||
| 106 | or in connection with any port facilities, whether or not | ||
| 107 | subject to mortgage, liens, charges, or other encumbrances. | ||
| 108 | (2) To construct within Manatee County any bridge, tunnel, | ||
| 109 | road, or railroad lines, or any combination thereof, to, from, | ||
| 110 | or between any port facilities. | ||
| 111 | (3) To sell at public or private sale or lease for public | ||
| 112 | or private purposes all or any portion of any port facilities | ||
| 113 | now or hereafter owned, including any such facilities as | ||
| 114 | extended, enlarged, or improved, and all or any portion of any | ||
| 115 | property improved, created, extended, or enlarged under the | ||
| 116 | authority of this law, on such terms and subject to such | ||
| 117 | conditions as the Port Authority shall determine to be in the | ||
| 118 | best interests of the Port Authority. | ||
| 119 | (4) To accept loans or grants of money or materials or | ||
| 120 | property at any time from the United States or the State of | ||
| 121 | Florida or any agency, instrumentality, or subdivision thereof, | ||
| 122 | upon such terms and conditions as the United States, the State | ||
| 123 | of Florida, or such agency, instrumentality, or subdivision may | ||
| 124 | impose. | ||
| 125 | (5) To operate and maintain, and to fix and collect rates, | ||
| 126 | rentals, fees, and other charges for any of the services and | ||
| 127 | facilities now or hereafter acquired, owned, or constructed by | ||
| 128 | the Port Authority. | ||
| 129 | (6) To lease or rent or contract with others for the | ||
| 130 | operation of all or any part of any port facilities now or | ||
| 131 | hereafter acquired, owned, or constructed by the Port Authority, | ||
| 132 | on such terms and for such period or periods and subject to such | ||
| 133 | conditions as the Port Authority shall determine to be in the | ||
| 134 | best interests of the Port Authority. | ||
| 135 | (7) To contract debts for the acquisition or construction | ||
| 136 | of any port facilities or for any other purposes of this law, to | ||
| 137 | borrow money, to make advances, and to issue bonds or other | ||
| 138 | obligations to finance all or any part of such acquisition or | ||
| 139 | construction or in the carrying out of any other purposes of | ||
| 140 | this charter. | ||
| 141 | (8) To contract with the United States or the State of | ||
| 142 | Florida or any agency or instrumentality thereof or with any | ||
| 143 | public body or political subdivision or with any private person, | ||
| 144 | firm, or corporation with reference to any of the powers hereby | ||
| 145 | granted. | ||
| 146 | (9) To have and to exercise all of the powers, rights, and | ||
| 147 | authority now vested by the Statutes of the State of Florida in | ||
| 148 | the office of the Board of Pilot Commissioners. | ||
| 149 | (10) To appoint, regulate, control, and prescribe the | ||
| 150 | powers, duties, and compensation of harbor masters. | ||
| 151 | (11) To appoint and license such number of pilots as the | ||
| 152 | Port Authority shall, in its sole discretion, determine to be | ||
| 153 | necessary to properly conduct the business of the port. Provided | ||
| 154 | that nothing contained herein shall be construed as prohibiting | ||
| 155 | the Port Authority from appointing and licensing pilots who at | ||
| 156 | the time of appointment are also serving any other port on Tampa | ||
| 157 | Bay. | ||
| 158 | (12) To publicize, advertise, and promote the activities | ||
| 159 | and projects authorized by this act, to make known to users, | ||
| 160 | potential users, and public in general, the advantages, | ||
| 161 | facilities, resources, products, attractions, and attributes of | ||
| 162 | the activities and projects authorized by this charter; to | ||
| 163 | further create a favorable climate of opinion concerning the | ||
| 164 | activities and projects authorized and indicated by this | ||
| 165 | charter; to cooperate, including the grant or expenditure of | ||
| 166 | funds, to and with other agencies, both public and private, in | ||
| 167 | accomplishing the purposes enumerated and indicted by this | ||
| 168 | charter; and in furtherance thereof, to authorize reasonable | ||
| 169 | expenditures by supporting voucher to be filed for audit for the | ||
| 170 | purposes herein enumerated, including, but not limited to, | ||
| 171 | meals, hospitality, and entertainment of persons in the interest | ||
| 172 | of promoting and engendering good will towards the activities | ||
| 173 | and projects herein authorized. | ||
| 174 | (13) To perform any of the acts hereby authorized through | ||
| 175 | or by means of its own officers, agents, or employees or by | ||
| 176 | contract. | ||
| 177 | (14) To do all acts and things and to enter into all | ||
| 178 | contracts and agreements necessary or convenient to carry out | ||
| 179 | the purposes of this law. | ||
| 180 | Section 7. Contracts for borrowing of money.—Pursuant to | ||
| 181 | chapter 315, Florida Statutes, and this charter, the Port | ||
| 182 | Authority may contract with any person, firm, corporation, or | ||
| 183 | public body or with the United States or any agency or | ||
| 184 | instrumentality thereof for the borrowing of money for paying | ||
| 185 | all or any part of the cost of any one or more port facilities, | ||
| 186 | and any such contract may contain such terms, conditions, or | ||
| 187 | provisions as the Port Authority may determine not in conflict | ||
| 188 | with the provisions of this charter or chapter 315, Florida | ||
| 189 | Statutes. The provisions of section 13 of this charter | ||
| 190 | applicable to bonds shall be applicable also to contracts | ||
| 191 | entered into under the above provisions of this section. Any | ||
| 192 | such contract may be hypothecated by the Port Authority and the | ||
| 193 | Port Authority may borrow money under such terms and conditions | ||
| 194 | as it shall determine in anticipation of the receipt of funds | ||
| 195 | under such contract. | ||
| 196 | Section 8. Exemption from taxation.--As adequate port | ||
| 197 | facilities are essential for the welfare of the inhabitants and | ||
| 198 | the industrial and commercial development of the area within or | ||
| 199 | served by the Port Authority, and as the exercise of the powers | ||
| 200 | conferred by this charter to effect such purposes constitute the | ||
| 201 | performance of proper public and governmental functions, and as | ||
| 202 | such port facilities constitute public property and are used for | ||
| 203 | public purposes, the Port Authority shall not be required to pay | ||
| 204 | any state, county, municipal, or other taxes or assessments | ||
| 205 | thereof, or upon the income therefrom, and any bonds issued | ||
| 206 | under the provisions of this charter, their transfer and the | ||
| 207 | income therefrom, including any profit made on the sale thereof, | ||
| 208 | shall at all times be free from taxation within the state. | ||
| 209 | Section 9. Resolutions authorized.--All action required or | ||
| 210 | authorized to be taken under the provisions of this charter or | ||
| 211 | chapter 315, Florida Statutes, by the Port Authority may be by | ||
| 212 | resolution, which resolution may be adopted at the meeting of | ||
| 213 | the Port Authority at which such resolution is introduced and | ||
| 214 | shall take effect immediately upon such adoption. Except as | ||
| 215 | otherwise provided in this charter, no resolution under this | ||
| 216 | charter need be published or posted, nor shall any such | ||
| 217 | resolution require for its passage more than a majority of all | ||
| 218 | the members of the Port Authority then in office. | ||
| 219 | Section 10. Liberal construction.--This charter, being | ||
| 220 | necessary for the welfare of the inhabitants of the state, shall | ||
| 221 | be liberally construed to effect the purposes thereof. | ||
| 222 | Section 11. Chapter cumulative.--This charter shall be | ||
| 223 | deemed to provide an additional and alternative method for the | ||
| 224 | doing of the things authorized hereby and shall be regarded as | ||
| 225 | supplemental and additional to the powers conferred by any other | ||
| 226 | law, and shall not be regarded as in derogation of any powers | ||
| 227 | now existing. Bonds may be issued and any other action may be | ||
| 228 | taken hereunder notwithstanding that any other law may provide | ||
| 229 | for the issuance of bonds for like purposes or the taking of | ||
| 230 | like action and without regard to the requirements, | ||
| 231 | restrictions, or procedural provisions contained in any other | ||
| 232 | law. | ||
| 233 | Section 12. Bonds.--Pursuant to chapter 315, Florida | ||
| 234 | Statutes, and this charter, the Port Authority is hereby | ||
| 235 | authorized to provide by resolution, at one time or from time to | ||
| 236 | time, for the issuance of bonds for the purpose of paying all or | ||
| 237 | a part of the cost of any one or more port facilities. The bonds | ||
| 238 | of each issue or series shall be dated, shall bear interest, and | ||
| 239 | shall mature at such time or times not exceeding 40 years from | ||
| 240 | their date or dates, as may be determined by the Port Authority, | ||
| 241 | and may be made redeemable before maturity, at the option of the | ||
| 242 | Port Authority, at such price or prices and under such terms and | ||
| 243 | conditions as may be fixed by the Port Authority prior to the | ||
| 244 | issuance of the bonds. The Port Authority shall determine the | ||
| 245 | form of the bonds, including any interest coupons to be attached | ||
| 246 | thereto, and the manner or execution of the bonds, and shall fix | ||
| 247 | the denomination or denominations of the bonds, and the place or | ||
| 248 | places of payment of principal and interest, which may be at any | ||
| 249 | bank or trust company within or without the state. In case any | ||
| 250 | officer whose signature or a facsimile of whose signature shall | ||
| 251 | appear on the bonds or coupons shall cease to be such officer | ||
| 252 | before the delivery of such bonds, such signature or such | ||
| 253 | facsimile shall nevertheless be valid and sufficient for all | ||
| 254 | purposes the same as if he or she had remained in office until | ||
| 255 | such delivery, and any bond may bear the facsimile signature of, | ||
| 256 | or may be signed by, such persons as at the actual time of the | ||
| 257 | execution of such bond shall be the proper officers to sign such | ||
| 258 | bond, although at the date of such bond such persons may not | ||
| 259 | have been such officers. Notwithstanding any other provisions of | ||
| 260 | this charter or any recitals in any bonds issued under the | ||
| 261 | provisions of this charter, all such bonds shall be deemed to be | ||
| 262 | negotiable instruments under the laws of Florida. The bonds may | ||
| 263 | be issued in coupon or in registered form, or both, as the Port | ||
| 264 | Authority may determine, and provision may be made for the | ||
| 265 | registration of any coupon bonds as to principal alone and also | ||
| 266 | as to both principal and interest, for the reconversion into | ||
| 267 | couponed bonds of any bonds registered as to both principal and | ||
| 268 | interest, and for the interchange of coupon and registered | ||
| 269 | bonds. The issuance of such bonds shall not be subject to any | ||
| 270 | limitation or conditions contained in any other law, and any | ||
| 271 | bonds issued under this charter shall not be considered in | ||
| 272 | computing the amount of indebtedness which Manatee County or the | ||
| 273 | Port Authority may incur under any other law. The Port Authority | ||
| 274 | may sell such bonds in such manner, either at public or private | ||
| 275 | sale and for such price, as it may determine to be for the best | ||
| 276 | interest of the Port Authority. Prior to the delivery of | ||
| 277 | definitive bonds, the Port Authority may, under like | ||
| 278 | restrictions, issue interim receipts or temporary bonds, with or | ||
| 279 | without coupons, exchangeable for definitive bonds when such | ||
| 280 | bonds have been executed and are available for delivery. The | ||
| 281 | Port Authority may also provide for the replacement of any bonds | ||
| 282 | which have become mutilated or destroyed or lost. Bonds may be | ||
| 283 | issued under the provisions of this charter without obtaining | ||
| 284 | the consent of any commission, board, bureau, or agency of the | ||
| 285 | state, and without any other proceeding or the happening of any | ||
| 286 | other condition or thing than those proceedings, conditions, or | ||
| 287 | things which are specifically required by this charter. | ||
| 288 | Section 13. Source of payment and security for bonds.--The | ||
| 289 | Port Authority may provide that bonds issued under the | ||
| 290 | provisions of this charter or chapter 315, Florida Statutes, | ||
| 291 | shall be payable from and secured by a pledge of any one or more | ||
| 292 | of the following sources: | ||
| 293 | (1) Revenues of any one or more port facilities now owned | ||
| 294 | or hereafter acquired or constructed by the Port Authority. | ||
| 295 | (2) Proceeds of the sale or lease of all or any part of | ||
| 296 | any port facilities now or hereafter owned by the Port Authority | ||
| 297 | as such facilities may be extended, enlarged, or improved, or of | ||
| 298 | any property improved, created, extended, or enlarged or | ||
| 299 | prepared for sale or lease under the authority of this charter. | ||
| 300 | (3) Any money received by the Port Authority from the | ||
| 301 | United States or any agency or instrumentality thereof in | ||
| 302 | connection with any port facilities or in repayment of any | ||
| 303 | advances made by the Port Authority for all or any part of the | ||
| 304 | cost of any port facilities. | ||
| 305 | (4) Any funds received or to be received from the State of | ||
| 306 | Florida under authority of chapter 315, Florida Statutes. The | ||
| 307 | Legislature does hereby covenant with the holders of bonds | ||
| 308 | issued pursuant to the provisions of this law that it will not | ||
| 309 | enact any law which will repeal, impair or amend, in any manner, | ||
| 310 | the rights of such holders or the security of the taxes | ||
| 311 | collected from the operation of pari-mutuel pools which may be | ||
| 312 | pledged to the payment of the principal or of interest on such | ||
| 313 | bonds and the redemption premium, if any. | ||
| 314 | The board of county commissioners may provide that such | ||
| 315 | bonds shall be additionally secured by the full faith credit and | ||
| 316 | taxing power of said Manatee County and that the county shall be | ||
| 317 | irrevocably and unconditionally obligated to levy ad valorem | ||
| 318 | taxes upon all taxable property within said county without limit | ||
| 319 | as to rate or amount for the payment of the principal of and | ||
| 320 | interest on said bonds to the full extent that the revenues or | ||
| 321 | other funds pledged for such principal and interest on said | ||
| 322 | bonds by the authority are insufficient therefor. No pledge of | ||
| 323 | the full faith and credit of said county for the payment of the | ||
| 324 | principal of and interest on said bonds shall be made, however, | ||
| 325 | until the same shall have been approved by the qualified | ||
| 326 | electors who are freeholders residing in said county in the | ||
| 327 | manner provided in the constitution and statutes of the State of | ||
| 328 | Florida. The Port Authority may additionally secure any such | ||
| 329 | bonds by a mortgage or other encumbrance, subject to such terms | ||
| 330 | and conditions as it shall provide, upon all or any part of any | ||
| 331 | port facilities now or hereafter owned by the Port Authority, as | ||
| 332 | such facilities may be extended, enlarged, or improved, or of | ||
| 333 | any property of the Port Authority improved, created, extended, | ||
| 334 | or enlarged or prepared for sale or lease under the authority of | ||
| 335 | this charter, and the Port Authority is hereby authorized to | ||
| 336 | sell at public or private sale, or lease any such port | ||
| 337 | facilities or property, subject to such terms and conditions and | ||
| 338 | for such price, payable at one time or from time to time in | ||
| 339 | installments as the Port Authority may provide, and to apply the | ||
| 340 | proceeds of any such sale or lease, after paying all costs in | ||
| 341 | connection therewith, to payment of the cost of any port | ||
| 342 | facilities financed under the provisions of this law or to the | ||
| 343 | payment of the principal or of the interest or redemption | ||
| 344 | premiums on any bonds issued hereunder or to the payment of any | ||
| 345 | other obligation or obligations herein authorized. | ||
| 346 | Section 14. Refunding bonds.—Pursuant to chapter 315, | ||
| 347 | Florida Statutes, and this charter, the Port Authority is hereby | ||
| 348 | authorized by resolution to provide for the issuance of | ||
| 349 | refunding bonds of the Port Authority for the purpose of | ||
| 350 | refunding any bonds then outstanding which shall have been | ||
| 351 | issued under the provisions of this charter or which shall have | ||
| 352 | been issued to provide funds for the payment of the cost of any | ||
| 353 | port facilities under the provision of any other charter, | ||
| 354 | including the payment of any redemption premium thereof and any | ||
| 355 | interest accrued or to accrue to the date of redemption of such | ||
| 356 | bonds, and, if deemed advisable by the Port Authority, for the | ||
| 357 | additional purpose of acquiring or constructing additional port | ||
| 358 | facilities. The issuance of such bonds, the maturities and other | ||
| 359 | details thereof, the rights of the holders thereof, and the | ||
| 360 | rights, duties, and obligations of the Port Authority in respect | ||
| 361 | of the same, shall be governed by the provisions of this charter | ||
| 362 | insofar as the same may be applicable. | ||
| 363 | Section 15. Trust agreement or resolution.--In the | ||
| 364 | discretion of the Port Authority, any bonds issued under the | ||
| 365 | provisions of chapter 315, Florida Statutes, or this charter may | ||
| 366 | be secured by a trust agreement by and between the Port | ||
| 367 | Authority and a corporate trustee, which may be any trust | ||
| 368 | company or bank having the powers of a trust company within or | ||
| 369 | without the state. Such trust agreement or the resolution | ||
| 370 | providing for the issuance of such bonds may contain such | ||
| 371 | provisions for protecting and enforcing the rights and remedies | ||
| 372 | of the bondholders as may be reasonable and proper and not in | ||
| 373 | violation of law, including covenants setting forth the duties | ||
| 374 | of the Port Authority in relation to the acquisition of property | ||
| 375 | and the acquisition, construction, improvement, maintenance, | ||
| 376 | repair, lease, operating, and insurance of any port facilities | ||
| 377 | in connection with which such bonds shall have been authorized, | ||
| 378 | the custody, safeguarding, or application of all moneys, and | ||
| 379 | conditions or limitations with respect to the issuance of | ||
| 380 | additional bonds. It shall be lawful for any bank or trust | ||
| 381 | company incorporated under the laws of Florida which may act as | ||
| 382 | depositary of the proceeds of bonds or of revenue or other funds | ||
| 383 | to furnish such indemnifying bonds or to pledge such securities | ||
| 384 | as may be required by the Port Authority. Any such trust | ||
| 385 | agreement or resolution may set forth the rights and remedies of | ||
| 386 | the bondholders and of the trustee under any such trust | ||
| 387 | agreement, and may restrict the individual right of action by | ||
| 388 | bondholders. In addition to the foregoing, any such trust | ||
| 389 | agreement or resolution may contain such other provisions as the | ||
| 390 | Port Authority may deem reasonable and proper for the security | ||
| 391 | of the bondholders. All expenses incurred in carrying out the | ||
| 392 | provisions of such trust agreement or resolution shall be | ||
| 393 | treated as a part of the cost of the operation of the port | ||
| 394 | facilities. | ||
| 395 | Section 16. Status as legal investments.--Bonds issued | ||
| 396 | under the provisions of chapter 315, Florida Statutes, or this | ||
| 397 | charter are hereby made securities in which all public officers | ||
| 398 | and public bodies of the state and its political subdivisions, | ||
| 399 | all insurance companies, trust companies, banking associations, | ||
| 400 | investment companies, executors, administrators, trustees, and | ||
| 401 | other fiduciaries may properly and legally invest funds, | ||
| 402 | including capital in their control or belonging to them. Such | ||
| 403 | bonds are hereby made securities which may properly and legally | ||
| 404 | be deposited with and received by any state or county officer or | ||
| 405 | any agency or political subdivision of the state for any purpose | ||
| 406 | for which the deposit of bonds or obligations of Manatee County | ||
| 407 | is now or may hereafter be authorized by law. | ||
| 408 | Section 17. Remedies of bondholders.--Any holder of bonds | ||
| 409 | issued under the provisions of this charter or any of the | ||
| 410 | coupons appertaining thereto, and the trustee under any trust | ||
| 411 | agreement, except to the extent the rights herein given may be | ||
| 412 | restricted by such trust agreement or the resolution authorizing | ||
| 413 | the issuance of such bonds may, either at law or in equity, by | ||
| 414 | suit, action, mandamus, or other proceedings, protect and | ||
| 415 | enforce any and all rights under the laws of the state or | ||
| 416 | granted hereunder or under such trust agreement or resolution, | ||
| 417 | and may enforce and compel the performance of all duties | ||
| 418 | required by this charter or by bank trust agreement or | ||
| 419 | resolution to be performed by the Port Authority or by any | ||
| 420 | officer thereof, including the fixing, charging, and collecting | ||
| 421 | of rates, rentals, and other charges. | ||
| 422 | Section 4. This act shall be construed as remedial and | ||
| 423 | shall be liberally construed to promote the purpose for which it | ||
| 424 | is intended. | ||
| 425 | Section 5. In the event that any part of this act should | ||
| 426 | be held void for any reason, such holding shall not affect any | ||
| 427 | other part thereof. | ||
| 428 | Section 6. Chapters 67-1681, 69-1277, 69-1279, 74-532, and | ||
| 429 | 75-428, Laws of Florida, are repealed. | ||
| 430 | Section 7. This act shall take effect upon becoming a law. | ||
| 431 | |||