HB 0619

1	A bill to be entitled
2	An act relating to the Nassau County Ocean Highway and Port
3	Authority; codifying, reenacting, amending, and repealing
4	special acts of the Nassau County Ocean Highway and Port
5	Authority; providing for its membership, terms of office,
6	officers, quorum, and meetings; defining the powers and duties
7	of the authority; providing for compensation of authority
8	members; authorizing the issuance of bonds and other
9	instruments of indebtedness; providing for road and other
10	projects; repealing chapters 21418 (1941), 24733 (1947), 27763
11	(1951), 30290 (1955), 67-1737, 67-1739, 67-1748, 69-1328, 83-
12	471, 83-474, 84-486, 86-371, 87-439, and 91-347, Laws of
13	Florida; providing an effective date.
14
15	Be It Enacted by the Legislature of the State of Florida:
16
17	Section 1.  Pursuant to section 189.429, Florida Statutes,
18	this act constitutes the codification of all special acts
19	relating to the Nassau County Ocean Highway and Port Authority.
20	It is the intent of the Legislature in enacting this law to
21	provide a single, comprehensive special act charter for the
22	district, including all current legislative authority granted to
23	the district by its several legislative enactments and any
24	additional authority granted by this act.
25	Section 2.  Chapters 21418 (1941), 24733 (1947), 27763
26	(1951), 30290 (1955), 67-1737, 67-1739, 67-1748, 69-1328, 83-471,
27	83-474, 84-486, 86-371, 87-439, and 91-347, Laws of Florida, are
28	codified, reenacted, amended, and repealed as herein provided.
29	Section 3.  The Nassau County Ocean Highway and Port
30	Authority is reenacted, and the charter for the district is re-
31	created and reenacted to read:
32	Section 1.  Popular name; status.--This act may be cited as
33	the Charter of the Nassau County Ocean Highway and Port
34	Authority.
35	Section 2.  Definitions.--As used in this act:
36	(1)  "Authority" means the Ocean Highway and Port Authority
37	created in section 3 of this act.
38	(2)  "Board" means the board created in section 3 of this
39	act.
40	Section 3.  Authority created; election of board; terms;
41	vacancies; officers.--There is hereby created in the County of
42	Nassau a port authority to be known as "Ocean Highway and Port
43	Authority," to be governed by a board of port commissioners
44	consisting of five members serving staggered terms of 4 years
45	each. There shall be five port commissioners' districts, which
46	shall be numbered one through five, inclusive, and shall be
47	congruent with the Nassau County county commissioners' districts.
48	The port commissioners' districts shall be numbered in such a
49	fashion that port commissioner district one shall include the
50	same geographical area as Nassau County county commissioners'
51	district number one, port commissioner district two shall include
52	the same geographical area as Nassau County county commissioners'
53	district number two, port commissioner district three shall
54	include the same geographical area as Nassau County county
55	commissioners' district number three, port commissioner district
56	four shall include the same geographical area as Nassau County
57	county commissioners' district number four, and port commissioner
58	district five shall include the same geographical area as Nassau
59	County county commissioners' district number five. There shall be
60	one port commissioner for each of such port commissioners'
61	districts, who shall reside in each district and who shall be
62	elected by the qualified electors of Nassau County. At each
63	general election, successors to the members of the board whose
64	terms are about to expire shall be elected for terms of 4 years
65	each. Vacancies on the board resulting from resignation, death,
66	removal, or otherwise shall be filled by appointment by the
67	board, the appointee to hold office until the next following
68	general election, when such vacancy shall be filled for the
69	unexpired term by election in the manner herein prescribed. The
70	members of the board shall qualify by taking an oath of office on
71	the second Tuesday following their election in the manner
72	required by county officers. The board shall reorganize by
73	selection of one of its members to act as chair and one of its
74	members to act as vice chair and shall also appoint a secretary
75	and a treasurer, but the same member may be designated to act as
76	secretary and treasurer. The treasurer shall give bond, the
77	amount, terms, and conditions of which shall be fixed and may be
78	revised from time to time by the board.
79	Section 4.  Adoption of rules and bylaws; quorum; funds of
80	authority; withdrawal; investment.--The board may make and adopt
81	such rules, bylaws, and regulations for its own guidance and for
82	the conduct of its affairs as it may deem necessary and
83	expedient. A majority of the members of the board in office shall
84	constitute a quorum and any motion or resolution of the board
85	shall be effective upon approval by a majority vote of the
86	members present at the meeting at which such motion or resolution
87	is presented. The board shall have the exclusive control of the
88	revenues derived from the public works, improvements, and
89	facilities acquired, constructed, or owned and operated by the
90	port authority, and of the expenditure thereof, and shall
91	designate a bank or banks in which such revenues or other funds
92	of the authority shall be deposited and the manner of withdrawing
93	the same by warrants, checks, or vouchers. The board may cause
94	the available funds of the authority to be invested in real
95	estate mortgages and bonds and may sell such investments when
96	deemed advisable.
97	Section 5.  Salaries of commissioners, port director,
98	agents, and employees; retirement plan; health insurance
99	plan.--Each member of the board shall receive a salary not to
100	exceed $24,000 per annum as may be fixed from time to time by the
101	board. The board may employ a port director, who shall be the
102	administrative officer of the port authority and shall perform
103	such duties as the board may determine. The compensation of the
104	port director shall be fixed by the board and shall be paid from
105	the revenues of the port authority. The board may appoint such
106	other agents and employees as may be necessary and fix their
107	compensation, which shall be paid from the revenues of the port
108	authority. The board may institute an actuarially sound
109	retirement plan. The board may also establish a health insurance
110	plan for those members who choose to participate. These plans
111	shall be funded from the revenues of the port authority.
112	Section 6.  Corporate powers; vesting of state lands in
113	authority.--The authority shall constitute a body politic and
114	corporate and a political subdivision of the state having the
115	corporate title of "Ocean Highway and Port Authority"; it may
116	adopt and use a corporate seal and alter the same; it may
117	contract and be contracted with; and it may sue and be sued in
118	its corporate name and may plead and be impleaded in all of the
119	courts of the state and the courts of the United States having
120	jurisdiction over it. The state hereby grants unto the authority
121	the necessary lands, easements, rights-of-way, and riparian
122	rights to lands that may be vested in the state or in any of its
123	departments or instrumentalities for the purpose of carrying out
124	the purposes and powers of the authority.
125	Section 7.  Specific powers.--The authority shall have the
126	following powers, in addition to all other powers conferred by
127	this act:
128	(1)  To acquire by grant, purchase, gift, condemnation,
129	exchange, or otherwise all property, real or personal, or any
130	estate, right, or interest therein, which by resolution of its
131	board shall be determined to be necessary for the purposes of the
132	authority, and to improve, maintain, sell, lease, convey,
133	exchange, or otherwise dispose of the same or any part thereof,
134	or any interest or estate therein, upon such terms and conditions
135	as the authority shall by resolution determine. The power of
136	condemnation provided above may be exercised by the authority
137	directly, as an agency of the County of Nassau, or may be
138	exercised by the County of Nassau, for and on behalf of the
139	authority. Such power of condemnation shall be exercised and
140	carried out in the manner provided by the general laws of the
141	state.
142	(2)  To lay out, construct, condemn, purchase, own, acquire,
143	add to, extend, enlarge, maintain, conduct, operate, build,
144	equip, manage, furnish, replace, enlarge, improve, lease, sell,
145	regulate, finance, control, repair, and establish office and
146	administrative buildings to be used and occupied in whole or in
147	part by the authority, wharves, docks, slips, channels, jetties,
148	piers, quays, terminals, sidings, shipyards, marine railways,
149	terminal facilities, harbors, ports, waterways, moles, canals,
150	cold storage plants, terminal icing plants, refrigerating plants,
151	precooling plants, locks, tidal basins, trainways, cableways,
152	anchorage areas, depots, warehouses, industrial parks, industrial
153	and manufacturing plants, commercial, business, residential,
154	mercantile, and other related projects, motels, conveyors,
155	appliances for economical handling, storage, and transportation
156	of freight and the handling of passenger traffic, and all other
157	harbor improvements and facilities which by resolution the board
158	of commissioners may determine to be necessary; and to perform
159	all customary services, including the handling, weighing,
160	measuring, regulation, control, inspection, and reconditioning of
161	all commodities and cargoes received or shipped through any port
162	or harbor within the jurisdiction of the authority.
163	(3)  Subject to the jurisdiction of the United States of
164	America and the state, to improve and develop Fernandina Harbor
165	and all navigable and nonnavigable waters within the County of
166	Nassau; to create and improve for harbor purposes any waterways
167	within or adjacent to the county; to regulate and control all
168	such waters and all natural or artificial waterways within the
169	county; to straighten, widen, deepen, and otherwise improve any
170	and all waters, watercourses, inlets, bays, lakes, or streams,
171	whether navigable or not, located within the county; to construct
172	inlets and turning basins and to dredge and deepen any natural or
173	artificial waterways within the county; to apply for permission
174	from the Government of the United States of America to create,
175	improve, regulate, and control all such waters and natural and
176	artificial waterways within the county and to construct and
177	maintain such canals, slips, turning basins, and channels upon
178	such terms and conditions as may be required by the United States
179	of America; and to enact, adopt, and establish, by resolution,
180	rules and regulations for the complete exercise of jurisdiction
181	and control over all waters and any port within the jurisdiction
182	of the authority.
183	(4)  To make any and all applications required by the
184	Treasury Department and other departments or agencies of the
185	United States Government as a condition precedent to the
186	establishment within the County of Nassau of a free port or area
187	for the reception from foreign countries of articles of commerce
188	and the handling, processing, and delivery thereof into foreign
189	commerce free from the payment of customs duties and to enter
190	into any agreements and payments required by such departments or
191	agencies in connection therewith and to make like applications,
192	agreements, and payments with respect to the establishment within
193	the county of one or more bonded warehouses.
194	(5)  To fix rates of wharfage, dockage, warehousing,
195	storage, and port and terminal charges and rates and charges for
196	the use of all improvements, port, or harbor facilities located
197	within the county and owned or operated by the authority.
198	(6)  To lay out, construct, condemn, purchase, own, acquire,
199	add to, maintain, conduct, operate, build, equip, manage,
200	replace, enlarge, improve, regulate, control, repair, and
201	establish roads, ferries, either separately or as parts of roads,
202	streets, alleys, parks, boulevards, viaducts, tunnels, causeways,
203	bridges, and other transportation facilities within Nassau
204	County, extending beyond Nassau County, or extending to or into
205	the State of Georgia and may avail of any applicable federal law
206	with respect to any such roads, ferries, streets, alleys, parks,
207	boulevards, viaducts, tunnels, causeways, bridges, and other
208	transportation facilities in the construction and operation
209	thereof and the charging of tolls and fees for the services and
210	facilities thereof; to lay out, construct, condemn, purchase,
211	own, acquire, add to, maintain, conduct, operate, build, equip,
212	manage, replace, enlarge, improve, regulate, control, repair, and
213	establish hotels, radio stations, and any and all recreational
214	facilities, including yacht basins, docks, piers, wharves,
215	fishing piers, public beaches, beach casinos, cabanas, pavilions,
216	entertainment and eating places, swimming pools, bath houses,
217	stadiums, athletic fields, parks, concert halls, auditoriums,
218	golf courses, playgrounds, parking lots, gardens, conservatories,
219	and all necessary or convenient appurtenances to any or all of
220	same; and to lay out, construct, condemn, purchase, own, acquire,
221	add to, maintain, conduct, operate, build, equip, manage, extend,
222	replace, enlarge, improve, regulate, control, repair, and
223	establish any works or property, real or personal, for supplying
224	public utility services, including electricity, gas, water,
225	sewer, and local transportation within and without Nassau County
226	or in Baker County or Duval County, and to use the streets,
227	roads, avenues, and other public places in connection therewith,
228	provided that no such utility properties shall be acquired,
229	constructed, owned, operated, or maintained by such port
230	authority within the limits of any incorporated city or town
231	unless and until the governing body of such city or town shall
232	have by appropriate ordinance consented thereto. The authority is
233	hereby authorized and empowered to establish, charge, and collect
234	necessary and reasonable fees, admissions, tolls, rates, rentals,
235	and charges for any or all of the services or facilities of any
236	works, undertakings, or properties. The authority is authorized
237	to finance the cost of any such project, in whole or in part,
238	from the proceeds of revenue obligations issued pursuant to this
239	act.
240	(7)  The authority shall constitute a "state public body"
241	within the meaning and application of the Housing Cooperation
242	Law, as now contained under chapter 422, Florida Statutes, or as
243	the Housing Cooperation Law may hereafter be amended or revised,
244	and the authority, in its corporate name, is hereby authorized
245	and empowered to perform and carry out all of the duties,
246	functions, and purposes of the Housing Cooperation Law as now
247	provided or as may hereafter be amended.
248	(8)  To exercise such police powers as may be necessary for
249	the effective control, regulation, and protection of the
250	improvements, works, and facilities and for the effective
251	exercise of its jurisdiction over the improvements and
252	facilities. The terms "improvements," "works," "projects,"
253	"undertakings," "services," and "facilities," wherever used in
254	this act, shall be deemed to include any one or more of the
255	objects or purposes concerning which power is granted by this
256	section to the authority.
257	(9)  To borrow money on the anticipated receipt of funds
258	from any source and in evidence thereof issue notes, warrants, or
259	debentures bearing interest at a rate not exceeding the maximum
260	rate authorized by law and maturing not more than 5 years from
261	date of issue, subject, however, to any limitation and
262	restrictions on the issuance thereof which may be contained in
263	the proceedings under which any bonds, certificates, or other
264	obligations are authorized to be issued under this act.
265	Section 8.  Purposes.--The purposes for which the authority
266	is by this act created and which it is authorized to carry out
267	are hereby declared to be public purposes of benefit to the
268	citizens of the County of Nassau and the state.
269	Section 9.  Transactions authorized with public entities and
270	agencies.--The authority shall have power to apply for and to
271	accept grants or loans from or to enter into any contracts or
272	agreements deemed advisable with the United States of America or
273	any agency or instrumentality thereof, the State of Florida or
274	any agency or instrumentality thereof, the State of Georgia or
275	any agency or instrumentality thereof, or any other political
276	subdivision, public body, or agency concerning any of the powers
277	conferred in this act and to comply with any conditions or
278	restrictions imposed in connection with such grants or loans or
279	covenants in connection therewith and further to enter into
280	covenants and agreements with the holders of any bonds,
281	certificates, or obligations issued by the authority concerning
282	the use and disposition of any grants or loans received by it
283	from any such parties.
284	Section 10.  Tax exemption.--As long as the authority shall
285	own the works, undertakings, and properties provided for in this
286	act, all properties of the authority, real or personal, and all
287	revenues and income derived from the services and facilities of
288	the authority shall be exempt from all taxation by the state or
289	by any county, municipality, or political subdivision thereof.
290	Bonds, certificates, or other obligations issued pursuant to this
291	act shall, together with the income thereon, be exempt from all
292	taxation by the state or any county, municipality, or other
293	political subdivision thereof.
294	Section 11.  Eminent domain.--In order to carry out any of
295	the purposes provided in this act, the authority shall have power
296	to acquire by condemnation any properties necessary therefor
297	either directly, as an agency of the County of Nassau, or through
298	the County of Nassau, acting for and on behalf of the Nassau
299	County Ocean Highway and Port Authority. All property so acquired
300	by condemnation as provided herein shall be acquired in the
301	manner provided for the exercise of eminent domain by the general
302	laws of the state.
303	Section 12.  No state control or jurisdiction over
304	authority.--It shall not be necessary for the authority to obtain
305	any certificate of convenience or necessity, franchise, license,
306	permit, or other authorization from the State of Florida or any
307	bureau, board, commission, or other like instrumentality thereof
308	or from any county, municipality, or political subdivision of the
309	State of Florida, and this act shall be full and complete
310	authority for the powers granted in this act. The rates, rentals,
311	tolls, and other revenues and income of the authority and its
312	contracts, agreements, and acts shall not be subject to
313	regulation by the State of Florida or by any board, body, agency,
314	or political subdivision thereof.
315	Section 13.  Use of state rights-of-way, easements, lands
316	under water, etc.--The authority shall be authorized to use any
317	right-of-way, easement, lands under water, or other similar
318	property right necessary, convenient, or desirable in connection
319	with the construction, acquisition, improvement, operation, or
320	maintenance of such works or undertakings held by the state or
321	any political subdivision thereof, and the state hereby consents
322	to such use whenever necessary to carry out the powers provided
323	in this act.
324	Section 14.  Acquisition of property in State of
325	Georgia.--The authority shall be authorized to acquire any lands,
326	buildings, or properties, real or personal, located within the
327	State of Georgia as shall be necessary or convenient or desirable
328	in connection with the construction, acquisition, or improvement
329	of any of such works or undertakings located in part within the
330	State of Georgia and to exercise generally such powers and rights
331	with respect to any of such properties, works, or undertakings
332	located within the State of Georgia as shall be agreed upon
333	between the authority and the State of Georgia or the appropriate
334	board, agency, or political subdivision thereof.
335	Section 15.  Acts, contracts, agreements validated.--All
336	contracts and agreements heretofore executed or entered into by
337	the authority, and all proceedings or acts of the authority
338	heretofore taken or had, be and the same are hereby in all
339	respects ratified, confirmed, and validated as valid and legally
340	binding contracts, agreements, proceedings, and acts of the
341	authority.
342	Section 16.  Issuance of bonds or certificates; conditions,
343	terms, procedures.--
344	(1)  The authority is hereby authorized to issue negotiable
345	revenue bonds or negotiable revenue certificates to finance or
346	refinance, in whole or in part, the cost of any of the works,
347	undertakings, improvements, or facilities expressed in this act
348	and to pledge to the payments of the bonds or certificates and
349	the interest thereon all or any part of the revenues of any one
350	or more of such works, undertakings, improvements, or facilities
351	and, if authorized at an election in the manner required by the
352	State Constitution, may mortgage or pledge any of its real
353	estate, personal property, or franchises to secure the payment of
354	the bonds or certificates issued for money borrowed to finance
355	such works, undertakings, improvements, or facilities. The
356	authority shall have power to make all contracts, execute all
357	instruments, and do all things necessary or convenient in the
358	exercise of the powers herein granted, or in the performance of
359	its covenants and duties, or in order to secure the payment of
360	such bonds or certificates, provided no encumbrance, mortgage, or
361	pledge of property of the authority (unless authorized at an
362	election as above provided) or of the County of Nassau or of any
363	municipality or district therein is created hereby, and provided
364	no debt on the credit of the state, of the County of Nassau, or
365	of any municipality is incurred in any manner for any purpose.
366	Such revenue bonds or certificates shall bear interest at such
367	rate or rates, not exceeding the maximum rate authorized by law,
368	payable semiannually, may bear such date or dates, may mature at
369	such time or times, not exceeding 40 years from their respective
370	dates, may be payable at such place or places, may contain such
371	registration privileges, may be subject to such terms of
372	redemption, may be executed in such manner, may contain such
373	terms, covenants, and conditions, and may be in such form, either
374	coupon or registered, as the resolution authorizing the issuance
375	thereof may provide. Whenever the authority has issued its
376	revenue bonds or certificates, the rates of fees, admissions,
377	tolls, rentals, or other charges for any or all of the services
378	or facilities of the works, undertakings, or properties shall be
379	continuously fixed and collected so that the revenues therefrom
380	after payment of all costs of maintenance, operation, and
381	replacements will be sufficient to pay the interest on and meet
382	the sinking fund charges and principal payments of such revenue
383	bonds or certificates as the same become due. Such revenue bonds
384	or certificates may be sold, all at one time or in blocks from
385	time to time, at public or private sale, or if refunding revenue
386	bonds or certificates may also be delivered in exchange for the
387	outstanding obligations to be refunded thereby, in such manner as
388	the authority shall determine, and at such price or prices not,
389	however, less than 95 percent of the par value thereof. Such
390	revenue bonds or certificates, or any part thereof, may also be
391	issued in payment for any improvements, works, projects,
392	undertakings, or facilities for the account of which they have
393	been authorized, at the price or prices provided above in this
394	section, and upon such terms and conditions as the authority
395	shall by resolution determine. Pending the preparation and
396	execution of any such revenue bonds or certificates, temporary or
397	interim bonds or certificates may be issued with or without
398	interest coupons as may be provided in the resolution authorizing
399	the issuance thereof. Notwithstanding the form or tenor thereof
400	and in the absence of any express recital on the face thereof
401	that it is nonnegotiable, each such revenue bond and certificate
402	shall be a negotiable instrument within the meaning and
403	application of the laws of Florida.
404	(2)  The cost of any of the improvements, works, projects,
405	undertakings, or facilities provided for in this act shall be
406	deemed to include, without being limited to, engineering,
407	architectural, and legal expenses; interest on bonds or
408	certificates prior to, during, and until 6 months after the
409	completion of the construction of such improvements, works,
410	projects, undertakings, or facilities; the amounts deemed
411	necessary and advisable for the first two principal maturities of
412	bonds or certificates, or part thereof, or as an initial reserve
413	fund for debt services on such bonds or certificates; the fees of
414	fiscal, financial, and legal advisers or other experts which the
415	authority is hereby authorized to employ; a reasonable amount of
416	working funds; and such other costs and expenses as are necessary
417	in connection with the construction and establishment of such
418	improvements, works, projects, undertakings, or facilities and
419	the financing thereof authorized by this act.
420	Section 17.  Elections authorizing.--Any election required
421	by this act to be held to authorize the borrowing of money or the
422	issuance of bonds or certificates secured in whole or in part by
423	a mortgage, pledge, or other encumbrance of or upon property
424	owned, held, or controlled by the authority shall be called by
425	resolution of the board and the board shall canvass the returns
426	and declare the result. In other respects, such election shall be
427	held and conducted in the manner provided by the general laws of
428	Florida applicable to the holding and conducting of elections
429	under the provisions of Section 12 of Article VII of the State
430	Constitution.
431	Section 18.  Validity of bonds preserved.--Revenue bonds or
432	certificates issued under this act, and the coupons if any
433	attached thereto, executed by the officers in office on the date
434	of execution thereof shall be valid and binding notwithstanding
435	that before the delivery thereof and payment therefor any or all
436	of the persons whose signatures appear thereon shall have ceased
437	to be officers of the authority. The validity of the revenue
438	bonds or certificates shall not be dependent on or affected by
439	the validity or legality of any proceedings relating to the
440	acquisition, establishment, construction, or improvement of any
441	of the works, undertakings, or facilities to finance which such
442	bonds or certificates are issued. The resolution providing for
443	the issuance of the revenue bonds or certificates may provide
444	that they shall contain a recital to the effect that they are
445	issued pursuant to this act, which recital shall be conclusive
446	evidence of their validity. The authority to issue any bonds or
447	certificates under the provisions of this act and the validity
448	thereof may be determined in proceedings in the circuit court for
449	the validation thereof in the manner provided by general law.
450	Section 19.  Covenants and conditions of bonds or
451	certificates.--
452	(1)  Any resolution authorizing the issuance of bonds or
453	certificates under this act, or a separate resolution, may
454	contain covenants as to rates, fees, or charges to be made for
455	the services, facilities, or commodities furnished or produced by
456	any of the projects operated and maintained under the authority
457	of this act; the use and disposition of the revenues thereof; the
458	creation and maintenance of reserves of sinking funds and the
459	regulation, use, and disposition thereof; the purpose or purposes
460	to which the proceeds of the sale of bonds or certificates may be
461	applied and the use and disposition of such proceeds; events
462	constituting default and the rights and liabilities arising
463	thereon and the terms and conditions upon which the holders of
464	bonds or certificates issued under this act may bring any suit or
465	action thereon or on the coupons appurtenant thereto; the
466	issuance of other or additional bonds or certificates payable
467	from or constituting a charge against the revenues of any or all
468	of such projects; the insurance to be carried upon such projects
469	and the use and disposition of insurance moneys; books of account
470	and the inspection and audit thereof; the terms and conditions
471	upon which any and all of the revenue bonds or certificates shall
472	become, or may be declared, due before maturity and as to the
473	terms and conditions upon which any such declaration and its
474	consequences may be waived; the rights, liabilities, powers, and
475	duties arising upon the breach by the authority of any covenants,
476	conditions, or obligations; the vesting in a trustee or trustees
477	the right to enforce any covenant made to secure or to pay the
478	bonds or certificates and relating to the powers and duties of
479	such trustees and the limitations of liabilities thereof and as
480	to the terms and conditions upon which the holders of the bonds
481	or certificates or any specified portion or percentage of them
482	may enforce any covenant made under this act or duties imposed
483	hereby; procedure by which the terms of any resolution
484	authorizing bonds or certificates or any other contract with
485	holders thereof, including an indenture of trust or similar
486	instrument, may be amended or abrogated and, as to the amount of
487	bonds or certificates, the holders of which must consent thereto
488	and the manner in which such consent may be given; the manner of
489	collecting the rates, fees, or charges for the services,
490	facilities, or commodities furnished or produced by any of the
491	projects referred to in this act.
492	(2)  Nothing in this section or in any other section of this
493	act shall be deemed in any way to authorize the authority to do
494	anything in any manner or for any purpose which would result in
495	the creation or incurring of a debt or the issuance of any
496	instrument which would constitute a bond or debt within the
497	meaning of any provision, limitation, or restriction of the State
498	Constitution relating to the creation or incurring of a debt or
499	the issuance of bonds payable from taxes on property, except in
500	the manner authorized by and subject to the provisions of the
501	State Constitution.
502	Section 20.  Security for revenue bonds.--Revenue bonds or
503	certificates issued under this act, unless other provision for
504	the security or payment thereof shall be approved by the
505	qualified electors who are freeholders residing in Nassau County
506	in the manner provided by the State Constitution, shall not be
507	payable from, or charged upon, any funds other than the revenues
508	pledged to the payment thereof, nor shall the County of Nassau or
509	any political subdivision or taxing district therein be subject
510	to any pecuniary liability thereon, and no holder or holders of
511	such bonds or certificates shall ever have the right to compel
512	any exercise of the taxing power of the County of Nassau or of
513	any political subdivision or taxing district therein to pay any
514	such bonds or certificates or the interest thereon or to enforce
515	payment thereof against any property in the county, nor shall any
516	such bond or certificate constitute a charge, lien, or
517	encumbrance, legal or equitable, upon any property in the county.
518	Each such bond or certificate which shall not have been
519	authorized at an election as provided in section 17 shall recite
520	in substance that such bond or certificate, including interest
521	thereon, is payable solely from the revenues pledged to the
522	payment thereof and that the holder of the bond or certificate
523	shall have no recourse to the power of taxation.
524	Section 21.  Rights of bondholders.--
525	(1)  Subject to any contractual limitation binding upon the
526	holders of any issue of bonds or certificates or upon the trustee
527	therefor, any holder of bonds or certificates or trustee therefor
528	shall have the right and power, for the equal benefit and
529	protection of all holders of bonds or certificates similarly
530	situated:
531	(a)  By mandamus or other suit, action, or proceeding at law
532	or in equity to enforce his or her rights against the authority
533	and any of its officers, agents, and employees and to require and
534	compel the authority or such officers, agents, or employees to
535	perform and carry out its and their duties and obligations under
536	this act and its and their covenants and agreements with holders
537	of such bonds or certificates.
538	(b)  By action or suit in equity to require the authority
539	and the board to account as if they were the trustee of an
540	express trust.
541	(c)  By any action or suit in equity to enjoin any acts or
542	things which may be unlawful or in violation of the rights of the
543	holders of the bonds or certificates.
544	(d)  To bring suit upon the bonds or certificates or the
545	interest coupons appurtenant thereto, subject to the provisions
546	of this act.
547	(2)  No right or remedy conferred by this act upon any
548	holder of bonds or certificates, or upon any trustee therefor, is
549	intended to be exclusive of any other right or remedy, but each
550	such right or remedy is cumulative and in addition to every other
551	right or remedy and may be exercised without exhausting and
552	without regard to any other remedy conferred by this act or by
553	any other law.
554	Section 22.  Bonds of authority constitute legal
555	securities.--Notwithstanding any provisions of any other law or
556	laws to the contrary, all bonds, certificates, or other
557	obligations issued pursuant to this act shall constitute legal
558	investments for savings banks, banks, trust companies, executors,
559	administrators, trustees, guardians, and other fiduciaries and
560	for any board, body, or instrumentality of the State of Florida,
561	or of any county, municipality, or other political subdivision
562	thereof, and all bonds, certificates, or other obligations issued
563	pursuant to this act shall be and constitute securities which may
564	be deposited as security for deposits of state and municipal
565	funds.
566	Section 23.  Receivership of authority.--The authority may
567	covenant in the proceedings authorizing any bonds, certificates,
568	or other obligations pursuant to this act that in the event of a
569	default in the payment of the principal of or interest thereon or
570	in the performance of any obligations or duties imposed upon the
571	authority by this act or by any covenant or agreement entered
572	into with the holders of any bonds, certificates, or other
573	obligations that any holder or holders thereof (unless the
574	proceedings authorizing the issuance of such bonds, certificates,
575	or other obligations shall limit the right to the appointment of
576	a receiver to a specified number or percentage of such holders),
577	either acting for himself, herself, or themselves alone or also
578	acting for all other holders of such bonds, certificates, or
579	other obligations, shall be entitled as of right to the
580	appointment of a receiver of the property and facilities of the
581	authority financed by the issuance of such bonds, certificates,
582	or other obligations. Jurisdiction is hereby conferred upon the
583	Circuit Courts of the State of Florida in any action brought for
584	the appointment of a receiver, and such receiver is hereby
585	authorized upon his or her appointment to take over the
586	operation, management, and control of such properties and
587	facilities and to collect the income and revenues therefrom to
588	the same extent and in the same manner as the authority is
589	authorized to do. Such receiver shall so operate, manage, and
590	control such properties or facilities under the supervision and
591	direction of the court, and such operation, management, and
592	control shall be in the name of the authority and shall be so
593	managed, operated, and controlled by such court and its receivers
594	for the joint protection and benefit of such authority and the
595	holders of such bonds, certificates, or other obligations. The
596	fees or other expenses of such receiver and of the person or
597	persons making application for the appointment thereof, subject
598	to court approval, shall be a first lien on the revenues and
599	income of such properties and facilities as long as they are in
600	the control of such receiver, and the remainder of such revenues
601	and income shall be applied in conformity, as nearly as may be,
602	with the provisions of the proceedings authorizing the issuance
603	of such revenue bonds, certificates, or other obligations. When
604	all defaults of the authority shall have been cured and made
605	good, such receivership shall be terminated by the court
606	appointing such receiver.
607	Section 24.  Refunding bonds.--The authority may at any time
608	issue refunding bonds, certificates, or obligations under the
609	provisions of this act to pay, fund, or refund maturing
610	obligations, or obligations redeemable prior to maturity, or
611	obligations not matured when the holders thereof consent to such
612	refunding. All of the applicable provisions of this act shall
613	apply to such refunding bonds, and the authority may further by
614	resolution confer upon the holders of such refunding bonds,
615	certificates, or other obligations all rights, powers, and
616	remedies to which the holders would be entitled if they were the
617	owners and had possession of the original bonds, certificates, or
618	other obligations being refunded, including, but not being
619	limited to, the preservation of the lien of such original bonds,
620	certificates, or other obligations on the properties, revenues,
621	and income of the authority without extinguishment, impairment,
622	or diminution thereof. In the event the authority exercises the
623	powers conferred by this section, each refunding bond,
624	certificate, or other obligation shall contain a recital to the
625	effect that the holder thereof has been granted the additional
626	security provided for in this section and each bond, certificate,
627	or other obligation refinanced by such refunding bonds,
628	certificates, or other obligations shall be kept intact and shall
629	not be canceled or destroyed until such refunding bonds,
630	certificates, or other obligations, and the interest thereon,
631	have been finally paid and discharged, and each shall be stamped
632	with a legend to the effect that such bond, certificate, or other
633	obligation has been refinanced pursuant to this act.
634	Section 25.  State covenants with debtors.--The State of
635	Florida hereby covenants with the holders of any bonds,
636	certificates, or other obligations issued pursuant to this act,
637	and the interest coupons appertaining thereto, that it will not
638	in any manner limit or alter the power and obligation vested by
639	this act in the authority to fix, establish, and collect, in the
640	manner provided in this act, such fees, tolls, rentals, or other
641	charges for the facilities and services of the works and
642	undertakings authorized by this act, as will always be sufficient
643	to pay the expenses of operation, maintenance, and repair of such
644	works or undertakings, the principal of and interest on all
645	bonds, certificates, or other obligations issued to finance such
646	works or undertakings, including reserves therefor, and to comply
647	fully with and fulfill the terms of all agreements and covenants
648	made by the authority with the holders of such bonds,
649	certificates, or other obligations until all such bonds,
650	certificates, or other obligations, together with all interest
651	accrued or to accrue thereon, are fully paid and discharged or
652	adequate provision made for the payment and discharge thereof.
653	Section 26.  Paper mill; acquisition and construction.--It
654	is hereby found, determined, and declared that:
655	(1)  The continued development of commerce and industry in
656	economic stability and promotion of the general welfare of Nassau
657	County is a joint responsibility of the state, Nassau County, the
658	authority, and other political subdivisions located within such
659	county.
660	(2)  The acquisition, extension, expansion, enlargement,
661	construction, and equipping by the authority of a pulp and paper
662	mill and related facilities to be leased for operation to a
663	private corporation are in part a discharge of such
664	responsibility and constitute a public purpose for the financing
665	of which revenue obligations of the port authority may be issued.
666	Section 27.  Authorization.--The authority is authorized to
667	acquire, construct, extend, expand, enlarge and equip a pulp and
668	paper mill and related facilities, including, but not limited to,
669	buildings, site improvements, fixtures, machinery and equipment.
670	Section 28.  Authority to lease.--The authority is
671	authorized to lease for operation such pulp and paper mill and
672	related facilities for a term not exceeding 40 years to a private
673	corporation.
674	Section 29.  Issuance of revenue bonds; authorization.--The
675	authority is authorized to provide by resolution at one time or
676	from time to time for the issuance of revenue bonds of the port
677	authority for the purpose of paying all or a part of the cost of
678	such pulp and paper mill and related facilities, as authorized in
679	section 27. The principal of and interest on such bonds shall be
680	payable from the rentals received by the port authority pursuant
681	to lease agreements entered into between the port authority and
682	such private corporation pursuant to the authority granted under
683	section 28 and from such funds legally available for such
684	purpose. The provisions of this act not found in this section,
685	except insofar as the same are inconsistent with provisions of
686	this article, shall apply in all respects to the authorization,
687	issuance, sale, and delivery of the revenue bonds herein
688	authorized.
689	Section 30.  Oil refinery; acquisition and construction.--It
690	is determined and declared that:
691	(1)  The continued development of commerce in economic
692	stability and promotion of the general welfare of Nassau County
693	is a joint responsibility of the state, Nassau County, the
694	authority, and other political subdivisions located within such
695	county.
696	(2)  The acquisition, construction, and equipping by the
697	authority of an oil refinery and related facilities to be leased
698	for operation to a private corporation are in part a discharge of
699	such responsibility and constitute a public purpose for the
700	financing of which revenue obligations of the port authority may
701	be issued.
702	Section 31.  Authorization.--The authority is authorized to
703	acquire, construct, and equip an oil refinery and related
704	facilities, including, but not limited to, buildings, site
705	improvements, fixtures, machinery, and equipment.
706	Section 32.  Lease authorized.--The authority is authorized
707	to lease for operation such oil refinery and related facilities
708	for a term not exceeding 40 years to a private corporation.
709	Section 33.  Issuance of revenue bonds.--The authority is
710	authorized to provide by resolution at one time or from time to
711	time for the issuance of revenue bonds of the authority for the
712	purpose of paying all or a part of the cost of such oil refinery
713	and related facilities, as hereinabove more particularly
714	described. The principal of and interest on such bonds shall be
715	payable from the rentals received by the port authority pursuant
716	to lease agreements entered into between the port authority and
717	such private corporation pursuant to the authority granted under
718	this section and from such other funds legally available for such
719	purpose. The provisions of this act, except insofar as the same
720	are inconsistent with the provisions of this section, shall apply
721	in all respects to the authorization, issuance, sale, and
722	delivery of the revenue bonds herein authorized.
723	Section 34.  Turnpike toll road; authority to
724	construct.--The authority shall have power to construct a
725	turnpike project or toll road from a point or points in the City
726	of Fernandina Beach, Nassau County, as the southeastern terminus
727	and from a point or points within 1 mile northerly of the
728	intersection of U.S. Highway Number 17 and State Highway Number
729	200 at Yulee, Nassau County, as the southwestern terminus, which
730	southwestern terminus shall not cross over, under, or extend
731	westerly of U.S. Highway Number 17, to a point or points in the
732	vicinity of Brunswick, Georgia, as its northerly terminus, or any
733	part or parts thereof.
734	Section 35.  Sale of bonds authorized.--Such turnpike
735	project or toll road referred to in section 34, or any part or
736	parts thereof, may be constructed and financed by the Ocean
737	Highway and Port Authority in the manner provided in this act,
738	and other statutes relating to the authority. It is the express
739	intention of this section that the authority may construct and
740	finance the turnpike project or toll road in its entirety at the
741	general locations referred to in section 34, or any part or parts
742	thereof, either at one time or separately from time to time, and
743	that the exact locations of the routes and termini of the
744	turnpike project or toll road, or any part or parts thereof,
745	shall be determined in the administrative discretion of the
746	authority, and that such determination of such exact routes and
747	termini shall not be required prior to the authorization,
748	validation, or sale of any bonds or other obligations issued by
749	the authority to finance the turnpike or toll road, or any part
750	or parts thereof.
751	Section 36.  Lease-purchase agreements; generally.--The
752	authority shall have power, in addition to all other powers of
753	the authority under any other law or laws, to construct, acquire,
754	improve, operate, and maintain revenue-producing projects located
755	partly within the State of Florida and partly within the State of
756	Georgia. The term "revenue-producing projects" as used in this
757	article shall mean toll roads, bridges and approaches thereto,
758	ferries, causeways, or any other revenue-producing projects which
759	the authority is authorized by any law or laws, including this
760	act, to construct or acquire, which are located partly within the
761	State of Florida and partly within the State of Georgia. In order
762	to finance the construction, acquisition, or improvement of the
763	revenue-producing projects located partly within the State of
764	Florida and partly within the State of Georgia, the authority
765	shall have power to issue its revenue bonds or other obligations
766	in the manner provided in this act; and any such revenue bonds or
767	other obligations issued for the purposes provided in this act
768	may contain all of the conditions and terms provided for in the
769	statutes referred to or in any other law or laws applicable to
770	the authority.
771	Section 37.  Lease-purchase agreements; authorized with
772	States of Florida and Georgia.--The authority is hereby
773	authorized to enter into lease-purchase agreements or other
774	agreements with the Florida Department of Transportation relating
775	to any part or parts of such revenue-producing projects located
776	within the State of Florida, and into lease-purchase agreements
777	or other agreements with the state highway department of Georgia,
778	or any other agency, board, or instrumentality of the State of
779	Georgia, relating to any part or parts of such revenue-producing
780	projects located within the State of Georgia. The lease-purchase
781	agreements or other agreements shall be in such form, shall be
782	for such periods of time, and shall contain such other terms and
783	provisions as shall be agreed upon among the authority, the
784	Florida Department of Transportation, and the state highway
785	department of Georgia, or any other agency, board, or
786	instrumentality of the State of Georgia.
787	Section 38.  Florida Department of Transportation authorized
788	to contract by lease-purchase.--The Florida Department of
789	Transportation is hereby authorized to enter into lease-purchase
790	agreements or other agreements with the authority relating to any
791	part or parts of such revenue-producing projects located within
792	the State of Florida and is further authorized, as part of the
793	consideration (for such lease-purchase agreements or other
794	agreements), to covenant and agree with the authority to pay all
795	the cost of operation, maintenance, and repair of the part or
796	parts of the revenue-producing projects located within the State
797	of Florida, during the term of such lease-purchase agreements or
798	other agreements.
799	Section 39.  Legality of lease-purchase agreements, bonds,
800	and other agreements; received; rights of bondholders.--
801	(1)  Any lease-purchase agreement or other agreement entered
802	into between the authority and the Florida Department of
803	Transportation relating to any part or parts of such revenue-
804	producing projects located within the State of Florida pursuant
805	to this act shall not be subject to the provisions of any other
806	law or laws, general or special, of the State of Florida relating
807	to lease-purchase agreements, and the authority and the Florida
808	Department of Transportation may, in the lease-purchase
809	agreements or other agreements, enter into such terms and
810	conditions relative to the operation, control, and management of
811	such revenue-producing projects located partly within the State
812	of Florida and partly within the State of Georgia as shall be
813	deemed advisable and necessary, including the payment of all
814	rentals or other payments due under such lease-purchase
815	agreements or other agreements to a bank or trust company as
816	trustee. The authority and the Florida Department of
817	Transportation may further enter into covenants and agreements in
818	the lease-purchase agreements or other agreements in order to
819	better secure the holders of any revenue bonds issued by the
820	authority and to obtain greater marketability of the revenue
821	bonds, relating to the following matters:
822	(a)  The deposit with a bank or trust company, as trustee,
823	of the proceeds of bonds issued by the authority to finance the
824	acquisition, construction, or improvement of the revenue-
825	producing projects.
826	(b)  The maintenance of fees, tolls, rentals, or other
827	charges for the use of the services and facilities of the
828	revenue-producing projects.
829	(c)  The pledging to the holders of revenue bonds or other
830	obligations issued pursuant to this act of all or any part of the
831	fees, tolls, rentals, or other charges derived from the operation
832	of the revenue-producing projects.
833	(d)  The deposit with a bank or trust company, as trustee,
834	of all or any part of the fees, tolls, rentals, or other charges
835	derived from the operation of such revenue-producing projects,
836	and the use and application thereof.
837	(e)  The rank and priority between any revenue bonds or
838	other obligations issued by the authority for the construction,
839	acquisition, or improvement of the revenue-producing projects.
840	(f)  The payment of all or any part of the cost of
841	operation, maintenance, and repair of the revenue-producing
842	projects.
843	(g)  Covenants or agreements with the state highway
844	department of the State of Georgia, or any other agency, board,
845	or instrumentality of the State of Georgia, relating to such
846	revenue-producing projects which are authorized by this section
847	or any other law or laws of the State of Florida or the State of
848	Georgia.
849	(h)  The appointment of a receiver for the revenue-producing
850	projects and the manner and terms of appointment thereof and the
851	rights of the holders of revenue bonds or other obligations
852	issued under the provisions of this section relative thereto.
853	(i)  Any other covenants, terms, and conditions which in the
854	opinion of the authority are necessary or advisable.
855	(2)  All such covenants and agreements of the Florida
856	Department of Transportation and the authority shall be and
857	constitute valid and legally binding obligations of the authority
858	and the Florida Department of Transportation and shall be fully
859	enforceable by the holders of any of the revenue bonds or other
860	obligations, or the interest coupons appertaining thereto, in any
861	court of competent jurisdiction in the state.
862	Section 40.  Other projects not to affect undertakings under
863	this act.--The provisions of this act shall not in any manner
864	affect any lease-purchase agreements entered into between the
865	authority and the Florida Department of Transportation relative
866	to any projects which are located wholly within the state, and
867	the general laws of the state or any other special acts
868	applicable thereto shall remain in full force and effect for any
869	such projects located wholly within the state. It is the express
870	intention of this act, however, that no other general or special
871	law of the state relative to lease-purchase agreements shall have
872	any application to revenue-producing projects located partly
873	within the state and partly within the State of Georgia which are
874	financed by the authority under the provisions of this act.
875	Section 4.  Chapters 21418 (1941), 24733 (1947), 27763
876	(1951), 30290 (1955), 67-1737, 67-1739, 67-1748, 69-1328, 83-
877	471, 83-474, 84-486, 86-371, 87-439, and 91-347, Laws of
878	Florida, are repealed.
879	Section 5.  This act shall take effect upon becoming a law.

CODING: Words stricken are deletions; words underlined are additions.