HB 0619

CS

CHAMBER ACTION

1	The Local Government Council recommends the following:
2
3	Council/Committee Substitute
4	Remove the entire bill and insert:
5	A bill to be entitled
6	An act relating to the Ocean Highway and Port Authority,
7	Nassau County; codifying, reenacting, amending, and
8	repealing special acts of the Ocean Highway and Port
9	Authority; providing for its membership, terms of office,
10	officers, quorum, and meetings; defining the powers and
11	duties of the authority; providing for compensation of
12	authority members; authorizing the issuance of bonds and
13	other instruments of indebtedness; providing for road and
14	other projects; repealing chapters 21418 (1941), 24733
15	(1947), 26048 (1949), 27763 (1951), 30290 (1955), 67-1737,
16	67-1739, 67-1748, 69-1328, 83-471, 83-474, 84-486, 86-371,
17	87-439, and 91-347, Laws of Florida; providing an
18	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 Ocean Highway and Port Authority. It is the
25	intent of the Legislature in enacting this law to provide a
26	single, comprehensive special act charter for the district,
27	including all current legislative authority granted to the
28	district by its several legislative enactments and any
29	additional authority granted by this act.
30	Section 2.  Chapters 21418 (1941), 24733 (1947), 26048
31	(1949), 27763 (1951), 30290 (1955), 67-1737, 67-1739, 67-1748,
32	69-1328, 83-471, 83-474, 84-486, 86-371, 87-439, and 91-347,
33	Laws of Florida, are codified, reenacted, amended, and repealed
34	as herein provided.
35	Section 3.  The Ocean Highway and Port Authority is
36	reenacted, and the charter for the district is re-created and
37	reenacted to read:
38	Section 1.  Popular name; status.--This act may be cited as
39	the Charter of the Ocean Highway and Port Authority.
40	Section 2.  Definitions.--As used in this act:
41	(1)  "Authority" means the Ocean Highway and Port Authority
42	created in section 3 of this act.
43	(2)  "Board" means the board created in section 3 of this
44	act.
45	Section 3.  Authority created; election of board; terms;
46	vacancies; officers.--There is hereby created in the County of
47	Nassau a port authority to be known as "Ocean Highway and Port
48	Authority," an independent special district, to be governed by a
49	board of port commissioners consisting of five members serving
50	staggered terms of 4 years each. There shall be five port
51	commissioners' districts, which shall be numbered one through
52	five, inclusive, and shall be congruent with the Nassau County
53	county commissioners' districts. The port commissioners'
54	districts shall be numbered in such a fashion that port
55	commissioner district one shall include the same geographical
56	area as Nassau County county commissioners' district number one,
57	port commissioner district two shall include the same
58	geographical area as Nassau County county commissioners'
59	district number two, port commissioner district three shall
60	include the same geographical area as Nassau County county
61	commissioners' district number three, port commissioner district
62	four shall include the same geographical area as Nassau County
63	county commissioners' district number four, and port
64	commissioner district five shall include the same geographical
65	area as Nassau County county commissioners' district number
66	five. There shall be one port commissioner for each of such port
67	commissioners' districts, who shall reside in each district and
68	who shall be elected by the qualified electors of Nassau County.
69	At each general election, successors to the members of the board
70	whose terms are about to expire shall be elected for terms of 4
71	years each. Vacancies on the board resulting from resignation,
72	death, removal, or otherwise shall be filled by appointment by
73	the board, the appointee to hold office until the next following
74	general election, when such vacancy shall be filled for the
75	unexpired term by election in the manner herein prescribed. The
76	members of the board shall qualify by taking an oath of office
77	on the second Tuesday following their election in the manner
78	required by county officers. The board shall reorganize by
79	selection of one of its members to act as chair and one of its
80	members to act as vice chair and shall also appoint a secretary
81	and a treasurer, but the same member may be designated to act as
82	secretary and treasurer. The treasurer shall give bond, the
83	amount, terms, and conditions of which shall be fixed and may be
84	revised from time to time by the board.
85	Section 4.  Adoption of rules and bylaws; quorum; funds of
86	authority; withdrawal; investment.--The board may make and adopt
87	such rules, bylaws, and regulations for its own guidance and for
88	the conduct of its affairs as it may deem necessary and
89	expedient. A majority of the members of the board in office
90	shall constitute a quorum and any motion or resolution of the
91	board shall be effective upon approval by a majority vote of the
92	members present at the meeting at which such motion or
93	resolution is presented. The board shall have the exclusive
94	control of the revenues derived from the public works,
95	improvements, and facilities acquired, constructed, or owned and
96	operated by the port authority, and of the expenditure thereof,
97	and shall designate a bank or banks in which such revenues or
98	other funds of the authority shall be deposited and the manner
99	of withdrawing the same by warrants, checks, or vouchers. The
100	board may cause the available funds of the authority to be
101	invested in real estate mortgages and bonds and may sell such
102	investments when deemed advisable.
103	Section 5.  Salaries of commissioners, port director,
104	agents, and employees; retirement plan; health insurance
105	plan.--Each member of the board shall receive a salary not to
106	exceed $24,000 per annum as may be fixed from time to time by
107	the board. The board may employ a port director, who shall be
108	the administrative officer of the port authority and shall
109	perform such duties as the board may determine. The compensation
110	of the port director shall be fixed by the board and shall be
111	paid from the revenues of the port authority. The board may
112	appoint such other agents and employees as may be necessary and
113	fix their compensation, which shall be paid from the revenues of
114	the port authority. The board may institute an actuarially sound
115	retirement plan. The board may also establish a health insurance
116	plan for those members who choose to participate. These plans
117	shall be funded from the revenues of the port authority.
118	Section 6.  Corporate powers; vesting of state lands in
119	authority.--The authority shall constitute a body politic and
120	corporate and a political subdivision of the state having the
121	corporate title of "Ocean Highway and Port Authority"; it may
122	adopt and use a corporate seal and alter the same; it may
123	contract and be contracted with; and it may sue and be sued in
124	its corporate name and may plead and be impleaded in all of the
125	courts of the state and the courts of the United States having
126	jurisdiction over it. The state hereby grants unto the authority
127	the necessary lands, easements, rights-of-way, and riparian
128	rights to lands that may be vested in the state or in any of its
129	departments or instrumentalities for the purpose of carrying out
130	the purposes and powers of the authority.
131	Section 7.  Specific powers.--The authority shall have the
132	following powers, in addition to all other powers conferred by
133	this act:
134	(1)  To acquire by grant, purchase, gift, condemnation,
135	exchange, or otherwise all property, real or personal, or any
136	estate, right, or interest therein, which by resolution of its
137	board shall be determined to be necessary for the purposes of
138	the authority, and to improve, maintain, sell, lease, convey,
139	exchange, or otherwise dispose of the same or any part thereof,
140	or any interest or estate therein, upon such terms and
141	conditions as the authority shall by resolution determine. The
142	power of condemnation provided above may be exercised by the
143	authority directly, as an agency of the County of Nassau, or may
144	be exercised by the County of Nassau, for and on behalf of the
145	authority. Such power of condemnation shall be exercised and
146	carried out in the manner provided by the general laws of the
147	state.
148	(2)  To lay out, construct, condemn, purchase, own,
149	acquire, add to, extend, enlarge, maintain, conduct, operate,
150	build, equip, manage, furnish, replace, enlarge, improve, lease,
151	sell, regulate, finance, control, repair, and establish office
152	and administrative buildings to be used and occupied in whole or
153	in part by the authority, wharves, docks, slips, channels,
154	jetties, piers, quays, terminals, sidings, shipyards, marine
155	railways, terminal facilities, harbors, ports, waterways, moles,
156	canals, cold storage plants, terminal icing plants,
157	refrigerating plants, precooling plants, locks, tidal basins,
158	trainways, cableways, anchorage areas, depots, warehouses,
159	industrial parks, industrial and manufacturing plants,
160	commercial, business, residential, mercantile, and other related
161	projects, motels, conveyors, appliances for economical handling,
162	storage, and transportation of freight and the handling of
163	passenger traffic, and all other harbor improvements and
164	facilities which by resolution the board of commissioners may
165	determine to be necessary; and to perform all customary
166	services, including the handling, weighing, measuring,
167	regulation, control, inspection, and reconditioning of all
168	commodities and cargoes received or shipped through any port or
169	harbor within the jurisdiction of the authority.
170	(3)  Subject to the jurisdiction of the United States of
171	America and the state, to improve and develop Fernandina Harbor
172	and all navigable and nonnavigable waters within the County of
173	Nassau; to create and improve for harbor purposes any waterways
174	within or adjacent to the county; to regulate and control all
175	such waters and all natural or artificial waterways within the
176	county; to straighten, widen, deepen, and otherwise improve any
177	and all waters, watercourses, inlets, bays, lakes, or streams,
178	whether navigable or not, located within the county; to
179	construct inlets and turning basins and to dredge and deepen any
180	natural or artificial waterways within the county; to apply for
181	permission from the Government of the United States of America
182	to create, improve, regulate, and control all such waters and
183	natural and artificial waterways within the county and to
184	construct and maintain such canals, slips, turning basins, and
185	channels upon such terms and conditions as may be required by
186	the United States of America; and to enact, adopt, and
187	establish, by resolution, rules and regulations for the complete
188	exercise of jurisdiction and control over all waters and any
189	port within the jurisdiction of the authority.
190	(4)  To make any and all applications required by the
191	Treasury Department and other departments or agencies of the
192	United States Government as a condition precedent to the
193	establishment within the County of Nassau of a free port or area
194	for the reception from foreign countries of articles of commerce
195	and the handling, processing, and delivery thereof into foreign
196	commerce free from the payment of customs duties and to enter
197	into any agreements and payments required by such departments or
198	agencies in connection therewith and to make like applications,
199	agreements, and payments with respect to the establishment
200	within the county of one or more bonded warehouses.
201	(5)  To fix rates of wharfage, dockage, warehousing,
202	storage, and port and terminal charges and rates and charges for
203	the use of all improvements, port, or harbor facilities located
204	within the county and owned or operated by the authority.
205	(6)  To lay out, construct, condemn, purchase, own,
206	acquire, add to, maintain, conduct, operate, build, equip,
207	manage, replace, enlarge, improve, regulate, control, repair,
208	and establish roads, ferries, either separately or as parts of
209	roads, streets, alleys, parks, boulevards, viaducts, tunnels,
210	causeways, bridges, and other transportation facilities within
211	Nassau County, extending beyond Nassau County, or extending to
212	or into the State of Georgia and may avail of any applicable
213	federal law with respect to any such roads, ferries, streets,
214	alleys, parks, boulevards, viaducts, tunnels, causeways,
215	bridges, and other transportation facilities in the construction
216	and operation thereof and the charging of tolls and fees for the
217	services and facilities thereof; to lay out, construct, condemn,
218	purchase, own, acquire, add to, maintain, conduct, operate,
219	build, equip, manage, replace, enlarge, improve, regulate,
220	control, repair, and establish hotels, radio stations, and any
221	and all recreational facilities, including yacht basins, docks,
222	piers, wharves, fishing piers, public beaches, beach casinos,
223	cabanas, pavilions, entertainment and eating places, swimming
224	pools, bath houses, stadiums, athletic fields, parks, concert
225	halls, auditoriums, golf courses, playgrounds, parking lots,
226	gardens, conservatories, and all necessary or convenient
227	appurtenances to any or all of same; and to lay out, construct,
228	condemn, purchase, own, acquire, add to, maintain, conduct,
229	operate, build, equip, manage, extend, replace, enlarge,
230	improve, regulate, control, repair, and establish any works or
231	property, real or personal, for supplying public utility
232	services, including electricity, gas, water, sewer, and local
233	transportation within and without Nassau County or in Baker
234	County or Duval County, and to use the streets, roads, avenues,
235	and other public places in connection therewith, provided that
236	no such utility properties shall be acquired, constructed,
237	owned, operated, or maintained by such port authority within the
238	limits of any incorporated city or town unless and until the
239	governing body of such city or town shall have by appropriate
240	ordinance consented thereto. The authority is hereby authorized
241	and empowered to establish, charge, and collect necessary and
242	reasonable fees, admissions, tolls, rates, rentals, and charges
243	for any or all of the services or facilities of any works,
244	undertakings, or properties. The authority is authorized to
245	finance the cost of any such project, in whole or in part, from
246	the proceeds of revenue obligations issued pursuant to this act.
247	(7)  The authority shall constitute a "state public body"
248	within the meaning and application of the Housing Cooperation
249	Law, as now contained under chapter 422, Florida Statutes, or as
250	the Housing Cooperation Law may hereafter be amended or revised,
251	and the authority, in its corporate name, is hereby authorized
252	and empowered to perform and carry out all of the duties,
253	functions, and purposes of the Housing Cooperation Law as now
254	provided or as may hereafter be amended.
255	(8)  To exercise such police powers as may be necessary for
256	the effective control, regulation, and protection of the
257	improvements, works, and facilities and for the effective
258	exercise of its jurisdiction over the improvements and
259	facilities. The terms "improvements," "works," "projects,"
260	"undertakings," "services," and "facilities," wherever used in
261	this act, shall be deemed to include any one or more of the
262	objects or purposes concerning which power is granted by this
263	section to the authority.
264	(9)  To borrow money on the anticipated receipt of funds
265	from any source and in evidence thereof issue notes, warrants,
266	or debentures bearing interest at a rate not exceeding the
267	maximum rate authorized by law and maturing not more than 5
268	years from date of issue, subject, however, to any limitation
269	and restrictions on the issuance thereof which may be contained
270	in the proceedings under which any bonds, certificates, or other
271	obligations are authorized to be issued under this act.
272	Section 8.  Purposes.--The purposes for which the authority
273	is by this act created and which it is authorized to carry out
274	are hereby declared to be public purposes of benefit to the
275	citizens of the County of Nassau and the state.
276	Section 9.  Transactions authorized with public entities
277	and agencies.--The authority shall have power to apply for and
278	to accept grants or loans from or to enter into any contracts or
279	agreements deemed advisable with the United States of America or
280	any agency or instrumentality thereof, the State of Florida or
281	any agency or instrumentality thereof, the State of Georgia or
282	any agency or instrumentality thereof, or any other political
283	subdivision, public body, or agency concerning any of the powers
284	conferred in this act and to comply with any conditions or
285	restrictions imposed in connection with such grants or loans or
286	covenants in connection therewith and further to enter into
287	covenants and agreements with the holders of any bonds,
288	certificates, or obligations issued by the authority concerning
289	the use and disposition of any grants or loans received by it
290	from any such parties.
291	Section 10.  Tax exemption.--As long as the authority shall
292	own the works, undertakings, and properties provided for in this
293	act, all properties of the authority, real or personal, and all
294	revenues and income derived from the services and facilities of
295	the authority shall be exempt from all taxation by the state or
296	by any county, municipality, or political subdivision thereof.
297	Bonds, certificates, or other obligations issued pursuant to
298	this act shall, together with the income thereon, be exempt from
299	all taxation by the state or any county, municipality, or other
300	political subdivision thereof.
301	Section 11.  Eminent domain.--In order to carry out any of
302	the purposes provided in this act, the authority shall have
303	power to acquire by condemnation any properties necessary
304	therefor either directly, as an agency of the County of Nassau,
305	or through the County of Nassau, acting for and on behalf of the
306	Ocean Highway and Port Authority. All property so acquired by
307	condemnation as provided herein shall be acquired in the manner
308	provided for the exercise of eminent domain by the general laws
309	of the state.
310	Section 12.  No state control or jurisdiction over
311	authority.--It shall not be necessary for the authority to
312	obtain any certificate of convenience or necessity, franchise,
313	license, permit, or other authorization from the State of
314	Florida or any bureau, board, commission, or other like
315	instrumentality thereof or from any county, municipality, or
316	political subdivision of the State of Florida, and this act
317	shall be full and complete authority for the powers granted in
318	this act. The rates, rentals, tolls, and other revenues and
319	income of the authority and its contracts, agreements, and acts
320	shall not be subject to regulation by the State of Florida or by
321	any board, body, agency, or political subdivision thereof.
322	Section 13.  Use of state rights-of-way, easements, lands
323	under water, etc.--The authority shall be authorized to use any
324	right-of-way, easement, lands under water, or other similar
325	property right necessary, convenient, or desirable in connection
326	with the construction, acquisition, improvement, operation, or
327	maintenance of such works or undertakings held by the state or
328	any political subdivision thereof, and the state hereby consents
329	to such use whenever necessary to carry out the powers provided
330	in this act.
331	Section 14.  Acquisition of property in State of
332	Georgia.--The authority shall be authorized to acquire any
333	lands, buildings, or properties, real or personal, located
334	within the State of Georgia as shall be necessary or convenient
335	or desirable in connection with the construction, acquisition,
336	or improvement of any of such works or undertakings located in
337	part within the State of Georgia and to exercise generally such
338	powers and rights with respect to any of such properties, works,
339	or undertakings located within the State of Georgia as shall be
340	agreed upon between the authority and the State of Georgia or
341	the appropriate board, agency, or political subdivision thereof.
342	Section 15.  Acts, contracts, agreements validated.--All
343	contracts and agreements heretofore executed or entered into by
344	the authority, and all proceedings or acts of the authority
345	heretofore taken or had, prior to June 13, 1949 (the effective
346	date of chapter 26048 (1949), Laws of Florida), be and the same
347	are hereby in all respects ratified, confirmed, and validated as
348	valid and legally binding contracts, agreements, proceedings,
349	and acts of the authority.
350	Section 16.  Issuance of bonds or certificates; conditions,
351	terms, procedures.--
352	(1)  The authority is hereby authorized to issue negotiable
353	revenue bonds or negotiable revenue certificates to finance or
354	refinance, in whole or in part, the cost of any of the works,
355	undertakings, improvements, or facilities expressed in this act
356	and to pledge to the payments of the bonds or certificates and
357	the interest thereon all or any part of the revenues of any one
358	or more of such works, undertakings, improvements, or facilities
359	and, if authorized at an election in the manner required by the
360	State Constitution, may mortgage or pledge any of its real
361	estate, personal property, or franchises to secure the payment
362	of the bonds or certificates issued for money borrowed to
363	finance such works, undertakings, improvements, or facilities.
364	The authority shall have power to make all contracts, execute
365	all instruments, and do all things necessary or convenient in
366	the exercise of the powers herein granted, or in the performance
367	of its covenants and duties, or in order to secure the payment
368	of such bonds or certificates, provided no encumbrance,
369	mortgage, or pledge of property of the authority (unless
370	authorized at an election as above provided) or of the County of
371	Nassau or of any municipality or district therein is created
372	hereby, and provided no debt on the credit of the state, of the
373	County of Nassau, or of any municipality is incurred in any
374	manner for any purpose. Such revenue bonds or certificates shall
375	bear interest at such rate or rates, not exceeding the maximum
376	rate authorized by law, payable semiannually, may bear such date
377	or dates, may mature at such time or times, not exceeding 40
378	years from their respective dates, may be payable at such place
379	or places, may contain such registration privileges, may be
380	subject to such terms of redemption, may be executed in such
381	manner, may contain such terms, covenants, and conditions, and
382	may be in such form, either coupon or registered, as the
383	resolution authorizing the issuance thereof may provide.
384	Whenever the authority has issued its revenue bonds or
385	certificates, the rates of fees, admissions, tolls, rentals, or
386	other charges for any or all of the services or facilities of
387	the works, undertakings, or properties shall be continuously
388	fixed and collected so that the revenues therefrom after payment
389	of all costs of maintenance, operation, and replacements will be
390	sufficient to pay the interest on and meet the sinking fund
391	charges and principal payments of such revenue bonds or
392	certificates as the same become due. Such revenue bonds or
393	certificates may be sold, all at one time or in blocks from time
394	to time, at public or private sale, or if refunding revenue
395	bonds or certificates may also be delivered in exchange for the
396	outstanding obligations to be refunded thereby, in such manner
397	as the authority shall determine, and at such price or prices
398	not, however, less than 95 percent of the par value thereof.
399	Such revenue bonds or certificates, or any part thereof, may
400	also be issued in payment for any improvements, works, projects,
401	undertakings, or facilities for the account of which they have
402	been authorized, at the price or prices provided above in this
403	section, and upon such terms and conditions as the authority
404	shall by resolution determine. Pending the preparation and
405	execution of any such revenue bonds or certificates, temporary
406	or interim bonds or certificates may be issued with or without
407	interest coupons as may be provided in the resolution
408	authorizing the issuance thereof. Notwithstanding the form or
409	tenor thereof and in the absence of any express recital on the
410	face thereof that it is nonnegotiable, each such revenue bond
411	and certificate shall be a negotiable instrument within the
412	meaning and application of the laws of Florida.
413	(2)  The cost of any of the improvements, works, projects,
414	undertakings, or facilities provided for in this act shall be
415	deemed to include, without being limited to, engineering,
416	architectural, and legal expenses; interest on bonds or
417	certificates prior to, during, and until 6 months after the
418	completion of the construction of such improvements, works,
419	projects, undertakings, or facilities; the amounts deemed
420	necessary and advisable for the first two principal maturities
421	of bonds or certificates, or part thereof, or as an initial
422	reserve fund for debt services on such bonds or certificates;
423	the fees of fiscal, financial, and legal advisers or other
424	experts which the authority is hereby authorized to employ; a
425	reasonable amount of working funds; and such other costs and
426	expenses as are necessary in connection with the construction
427	and establishment of such improvements, works, projects,
428	undertakings, or facilities and the financing thereof authorized
429	by this act.
430	Section 17.  Elections authorizing.--Any election required
431	by this act to be held to authorize the borrowing of money or
432	the issuance of bonds or certificates secured in whole or in
433	part by a mortgage, pledge, or other encumbrance of or upon
434	property owned, held, or controlled by the authority shall be
435	called by resolution of the board and the board shall canvass
436	the returns and declare the result. In other respects, such
437	election shall be held and conducted in the manner provided by
438	the general laws of Florida applicable to the holding and
439	conducting of elections under the provisions of Section 12 of
440	Article VII of the State Constitution.
441	Section 18.  Validity of bonds preserved.--Revenue bonds or
442	certificates issued under this act, and the coupons if any
443	attached thereto, executed by the officers in office on the date
444	of execution thereof shall be valid and binding notwithstanding
445	that before the delivery thereof and payment therefor any or all
446	of the persons whose signatures appear thereon shall have ceased
447	to be officers of the authority. The validity of the revenue
448	bonds or certificates shall not be dependent on or affected by
449	the validity or legality of any proceedings relating to the
450	acquisition, establishment, construction, or improvement of any
451	of the works, undertakings, or facilities to finance which such
452	bonds or certificates are issued. The resolution providing for
453	the issuance of the revenue bonds or certificates may provide
454	that they shall contain a recital to the effect that they are
455	issued pursuant to this act, which recital shall be conclusive
456	evidence of their validity. The authority to issue any bonds or
457	certificates under the provisions of this act and the validity
458	thereof may be determined in proceedings in the circuit court
459	for the validation thereof in the manner provided by general
460	law.
461	Section 19.  Covenants and conditions of bonds or
462	certificates.--
463	(1)  Any resolution authorizing the issuance of bonds or
464	certificates under this act, or a separate resolution, may
465	contain covenants as to rates, fees, or charges to be made for
466	the services, facilities, or commodities furnished or produced
467	by any of the projects operated and maintained under the
468	authority of this act; the use and disposition of the revenues
469	thereof; the creation and maintenance of reserves of sinking
470	funds and the regulation, use, and disposition thereof; the
471	purpose or purposes to which the proceeds of the sale of bonds
472	or certificates may be applied and the use and disposition of
473	such proceeds; events constituting default and the rights and
474	liabilities arising thereon and the terms and conditions upon
475	which the holders of bonds or certificates issued under this act
476	may bring any suit or action thereon or on the coupons
477	appurtenant thereto; the issuance of other or additional bonds
478	or certificates payable from or constituting a charge against
479	the revenues of any or all of such projects; the insurance to be
480	carried upon such projects and the use and disposition of
481	insurance moneys; books of account and the inspection and audit
482	thereof; the terms and conditions upon which any and all of the
483	revenue bonds or certificates shall become, or may be declared,
484	due before maturity and as to the terms and conditions upon
485	which any such declaration and its consequences may be waived;
486	the rights, liabilities, powers, and duties arising upon the
487	breach by the authority of any covenants, conditions, or
488	obligations; the vesting in a trustee or trustees the right to
489	enforce any covenant made to secure or to pay the bonds or
490	certificates and relating to the powers and duties of such
491	trustees and the limitations of liabilities thereof and as to
492	the terms and conditions upon which the holders of the bonds or
493	certificates or any specified portion or percentage of them may
494	enforce any covenant made under this act or duties imposed
495	hereby; procedure by which the terms of any resolution
496	authorizing bonds or certificates or any other contract with
497	holders thereof, including an indenture of trust or similar
498	instrument, may be amended or abrogated and, as to the amount of
499	bonds or certificates, the holders of which must consent thereto
500	and the manner in which such consent may be given; the manner of
501	collecting the rates, fees, or charges for the services,
502	facilities, or commodities furnished or produced by any of the
503	projects referred to in this act.
504	(2)  Nothing in this section or in any other section of
505	this act shall be deemed in any way to authorize the authority
506	to do anything in any manner or for any purpose which would
507	result in the creation or incurring of a debt or the issuance of
508	any instrument which would constitute a bond or debt within the
509	meaning of any provision, limitation, or restriction of the
510	State Constitution relating to the creation or incurring of a
511	debt or the issuance of bonds payable from taxes on property,
512	except in the manner authorized by and subject to the provisions
513	of the State Constitution.
514	Section 20.  Security for revenue bonds.--Revenue bonds or
515	certificates issued under this act, unless other provision for
516	the security or payment thereof shall be approved by the
517	qualified electors who are freeholders residing in Nassau County
518	in the manner provided by the State Constitution, shall not be
519	payable from, or charged upon, any funds other than the revenues
520	pledged to the payment thereof, nor shall the County of Nassau
521	or any political subdivision or taxing district therein be
522	subject to any pecuniary liability thereon, and no holder or
523	holders of such bonds or certificates shall ever have the right
524	to compel any exercise of the taxing power of the County of
525	Nassau or of any political subdivision or taxing district
526	therein to pay any such bonds or certificates or the interest
527	thereon or to enforce payment thereof against any property in
528	the county, nor shall any such bond or certificate constitute a
529	charge, lien, or encumbrance, legal or equitable, upon any
530	property in the county. Each such bond or certificate which
531	shall not have been authorized at an election as provided in
532	section 17 shall recite in substance that such bond or
533	certificate, including interest thereon, is payable solely from
534	the revenues pledged to the payment thereof and that the holder
535	of the bond or certificate shall have no recourse to the power
536	of taxation.
537	Section 21.  Rights of bondholders.--
538	(1)  Subject to any contractual limitation binding upon the
539	holders of any issue of bonds or certificates or upon the
540	trustee therefor, any holder of bonds or certificates or trustee
541	therefor shall have the right and power, for the equal benefit
542	and protection of all holders of bonds or certificates similarly
543	situated:
544	(a)  By mandamus or other suit, action, or proceeding at
545	law or in equity to enforce his or her rights against the
546	authority and any of its officers, agents, and employees and to
547	require and compel the authority or such officers, agents, or
548	employees to perform and carry out its and their duties and
549	obligations under this act and its and their covenants and
550	agreements with holders of such bonds or certificates.
551	(b)  By action or suit in equity to require the authority
552	and the board to account as if they were the trustee of an
553	express trust.
554	(c)  By any action or suit in equity to enjoin any acts or
555	things which may be unlawful or in violation of the rights of
556	the holders of the bonds or certificates.
557	(d)  To bring suit upon the bonds or certificates or the
558	interest coupons appurtenant thereto, subject to the provisions
559	of this act.
560	(2)  No right or remedy conferred by this act upon any
561	holder of bonds or certificates, or upon any trustee therefor,
562	is intended to be exclusive of any other right or remedy, but
563	each such right or remedy is cumulative and in addition to every
564	other right or remedy and may be exercised without exhausting
565	and without regard to any other remedy conferred by this act or
566	by any other law.
567	Section 22.  Bonds of authority constitute legal
568	securities.--Notwithstanding any provisions of any other law or
569	laws to the contrary, all bonds, certificates, or other
570	obligations issued pursuant to this act shall constitute legal
571	investments for savings banks, banks, trust companies,
572	executors, administrators, trustees, guardians, and other
573	fiduciaries and for any board, body, or instrumentality of the
574	State of Florida, or of any county, municipality, or other
575	political subdivision thereof, and all bonds, certificates, or
576	other obligations issued pursuant to this act shall be and
577	constitute securities which may be deposited as security for
578	deposits of state and municipal funds.
579	Section 23.  Receivership of authority.--The authority may
580	covenant in the proceedings authorizing any bonds, certificates,
581	or other obligations pursuant to this act that in the event of a
582	default in the payment of the principal of or interest thereon
583	or in the performance of any obligations or duties imposed upon
584	the authority by this act or by any covenant or agreement
585	entered into with the holders of any bonds, certificates, or
586	other obligations that any holder or holders thereof (unless the
587	proceedings authorizing the issuance of such bonds,
588	certificates, or other obligations shall limit the right to the
589	appointment of a receiver to a specified number or percentage of
590	such holders), either acting for himself, herself, or themselves
591	alone or also acting for all other holders of such bonds,
592	certificates, or other obligations, shall be entitled as of
593	right to the appointment of a receiver of the property and
594	facilities of the authority financed by the issuance of such
595	bonds, certificates, or other obligations. Jurisdiction is
596	hereby conferred upon the Circuit Courts of the State of Florida
597	in any action brought for the appointment of a receiver, and
598	such receiver is hereby authorized upon his or her appointment
599	to take over the operation, management, and control of such
600	properties and facilities and to collect the income and revenues
601	therefrom to the same extent and in the same manner as the
602	authority is authorized to do. Such receiver shall so operate,
603	manage, and control such properties or facilities under the
604	supervision and direction of the court, and such operation,
605	management, and control shall be in the name of the authority
606	and shall be so managed, operated, and controlled by such court
607	and its receivers for the joint protection and benefit of such
608	authority and the holders of such bonds, certificates, or other
609	obligations. The fees or other expenses of such receiver and of
610	the person or persons making application for the appointment
611	thereof, subject to court approval, shall be a first lien on the
612	revenues and income of such properties and facilities as long as
613	they are in the control of such receiver, and the remainder of
614	such revenues and income shall be applied in conformity, as
615	nearly as may be, with the provisions of the proceedings
616	authorizing the issuance of such revenue bonds, certificates, or
617	other obligations. When all defaults of the authority shall have
618	been cured and made good, such receivership shall be terminated
619	by the court appointing such receiver.
620	Section 24.  Refunding bonds.--The authority may at any
621	time issue refunding bonds, certificates, or obligations under
622	the provisions of this act to pay, fund, or refund maturing
623	obligations, or obligations redeemable prior to maturity, or
624	obligations not matured when the holders thereof consent to such
625	refunding. All of the applicable provisions of this act shall
626	apply to such refunding bonds, and the authority may further by
627	resolution confer upon the holders of such refunding bonds,
628	certificates, or other obligations all rights, powers, and
629	remedies to which the holders would be entitled if they were the
630	owners and had possession of the original bonds, certificates,
631	or other obligations being refunded, including, but not being
632	limited to, the preservation of the lien of such original bonds,
633	certificates, or other obligations on the properties, revenues,
634	and income of the authority without extinguishment, impairment,
635	or diminution thereof. In the event the authority exercises the
636	powers conferred by this section, each refunding bond,
637	certificate, or other obligation shall contain a recital to the
638	effect that the holder thereof has been granted the additional
639	security provided for in this section and each bond,
640	certificate, or other obligation refinanced by such refunding
641	bonds, certificates, or other obligations shall be kept intact
642	and shall not be canceled or destroyed until such refunding
643	bonds, certificates, or other obligations, and the interest
644	thereon, have been finally paid and discharged, and each shall
645	be stamped with a legend to the effect that such bond,
646	certificate, or other obligation has been refinanced pursuant to
647	this act.
648	Section 25.  State covenants with debtors.--The State of
649	Florida hereby covenants with the holders of any bonds,
650	certificates, or other obligations issued pursuant to this act,
651	and the interest coupons appertaining thereto, that it will not
652	in any manner limit or alter the power and obligation vested by
653	this act in the authority to fix, establish, and collect, in the
654	manner provided in this act, such fees, tolls, rentals, or other
655	charges for the facilities and services of the works and
656	undertakings authorized by this act, as will always be
657	sufficient to pay the expenses of operation, maintenance, and
658	repair of such works or undertakings, the principal of and
659	interest on all bonds, certificates, or other obligations issued
660	to finance such works or undertakings, including reserves
661	therefor, and to comply fully with and fulfill the terms of all
662	agreements and covenants made by the authority with the holders
663	of such bonds, certificates, or other obligations until all such
664	bonds, certificates, or other obligations, together with all
665	interest accrued or to accrue thereon, are fully paid and
666	discharged or adequate provision made for the payment and
667	discharge thereof.
668	Section 26.  Paper mill; acquisition and construction.--It
669	is hereby found, determined, and declared that:
670	(1)  The continued development of commerce and industry in
671	economic stability and promotion of the general welfare of
672	Nassau County is a joint responsibility of the state, Nassau
673	County, the authority, and other political subdivisions located
674	within such county.
675	(2)  The acquisition, extension, expansion, enlargement,
676	construction, and equipping by the authority of a pulp and paper
677	mill and related facilities to be leased for operation to a
678	private corporation are in part a discharge of such
679	responsibility and constitute a public purpose for the financing
680	of which revenue obligations of the port authority may be
681	issued.
682	Section 27.  Authorization.--The authority is authorized to
683	acquire, construct, extend, expand, enlarge and equip a pulp and
684	paper mill and related facilities, including, but not limited
685	to, buildings, site improvements, fixtures, machinery and
686	equipment.
687	Section 28.  Authority to lease.--The authority is
688	authorized to lease for operation such pulp and paper mill and
689	related facilities for a term not exceeding 40 years to a
690	private corporation.
691	Section 29.  Issuance of revenue bonds; authorization.--The
692	authority is authorized to provide by resolution at one time or
693	from time to time for the issuance of revenue bonds of the port
694	authority for the purpose of paying all or a part of the cost of
695	such pulp and paper mill and related facilities, as authorized
696	in section 27. The principal of and interest on such bonds shall
697	be payable from the rentals received by the port authority
698	pursuant to lease agreements entered into between the port
699	authority and such private corporation pursuant to the authority
700	granted under section 28 and from such funds legally available
701	for such purpose. The provisions of this act not found in this
702	section, except insofar as the same are inconsistent with
703	provisions of this act, shall apply in all respects to the
704	authorization, issuance, sale, and delivery of the revenue bonds
705	herein authorized.
706	Section 30.  Oil refinery; acquisition and
707	construction.--It is determined and declared that:
708	(1)  The continued development of commerce in economic
709	stability and promotion of the general welfare of Nassau County
710	is a joint responsibility of the state, Nassau County, the
711	authority, and other political subdivisions located within such
712	county.
713	(2)  The acquisition, construction, and equipping by the
714	authority of an oil refinery and related facilities to be leased
715	for operation to a private corporation are in part a discharge
716	of such responsibility and constitute a public purpose for the
717	financing of which revenue obligations of the port authority may
718	be issued.
719	Section 31.  Authorization.--The authority is authorized to
720	acquire, construct, and equip an oil refinery and related
721	facilities, including, but not limited to, buildings, site
722	improvements, fixtures, machinery, and equipment.
723	Section 32.  Lease authorized.--The authority is authorized
724	to lease for operation such oil refinery and related facilities
725	for a term not exceeding 40 years to a private corporation.
726	Section 33.  Issuance of revenue bonds.--The authority is
727	authorized to provide by resolution at one time or from time to
728	time for the issuance of revenue bonds of the authority for the
729	purpose of paying all or a part of the cost of such oil refinery
730	and related facilities, as hereinabove more particularly
731	described. The principal of and interest on such bonds shall be
732	payable from the rentals received by the port authority pursuant
733	to lease agreements entered into between the port authority and
734	such private corporation pursuant to the authority granted under
735	this section and from such other funds legally available for
736	such purpose. The provisions of this act, except insofar as the
737	same are inconsistent with the provisions of this section, shall
738	apply in all respects to the authorization, issuance, sale, and
739	delivery of the revenue bonds herein authorized.
740	Section 34.  Turnpike toll road; authority to
741	construct.--The authority shall have power to construct a
742	turnpike project or toll road from a point or points in the City
743	of Fernandina Beach, Nassau County, as the southeastern terminus
744	and from a point or points within 1 mile northerly of the
745	intersection of U.S. Highway Number 17 and State Highway Number
746	200 at Yulee, Nassau County, as the southwestern terminus, which
747	southwestern terminus shall not cross over, under, or extend
748	westerly of U.S. Highway Number 17, to a point or points in the
749	vicinity of Brunswick, Georgia, as its northerly terminus, or
750	any part or parts thereof.
751	Section 35.  Sale of bonds authorized.--Such turnpike
752	project or toll road referred to in section 34, or any part or
753	parts thereof, may be constructed and financed by the Ocean
754	Highway and Port Authority in the manner provided in this act,
755	and other statutes relating to the authority. It is the express
756	intention of this section that the authority may construct and
757	finance the turnpike project or toll road in its entirety at the
758	general locations referred to in section 34, or any part or
759	parts thereof, either at one time or separately from time to
760	time, and that the exact locations of the routes and termini of
761	the turnpike project or toll road, or any part or parts thereof,
762	shall be determined in the administrative discretion of the
763	authority, and that such determination of such exact routes and
764	termini shall not be required prior to the authorization,
765	validation, or sale of any bonds or other obligations issued by
766	the authority to finance the turnpike or toll road, or any part
767	or parts thereof.
768	Section 36.  Lease-purchase agreements; generally.--The
769	authority shall have power, in addition to all other powers of
770	the authority under any other law or laws, to construct,
771	acquire, improve, operate, and maintain revenue-producing
772	projects located partly within the State of Florida and partly
773	within the State of Georgia. The term "revenue-producing
774	projects" as used in this article shall mean toll roads, bridges
775	and approaches thereto, ferries, causeways, or any other
776	revenue-producing projects which the authority is authorized by
777	any law or laws, including this act, to construct or acquire,
778	which are located partly within the State of Florida and partly
779	within the State of Georgia. In order to finance the
780	construction, acquisition, or improvement of the revenue-
781	producing projects located partly within the State of Florida
782	and partly within the State of Georgia, the authority shall have
783	power to issue its revenue bonds or other obligations in the
784	manner provided in this act; and any such revenue bonds or other
785	obligations issued for the purposes provided in this act may
786	contain all of the conditions and terms provided for in the
787	statutes referred to or in any other law or laws applicable to
788	the authority.
789	Section 37.  Lease-purchase agreements; authorized with
790	States of Florida and Georgia.--The authority is hereby
791	authorized to enter into lease-purchase agreements or other
792	agreements with the Florida Department of Transportation
793	relating to any part or parts of such revenue-producing projects
794	located within the State of Florida, and into lease-purchase
795	agreements or other agreements with the state highway department
796	of Georgia, or any other agency, board, or instrumentality of
797	the State of Georgia, relating to any part or parts of such
798	revenue-producing projects located within the State of Georgia.
799	The lease-purchase agreements or other agreements shall be in
800	such form, shall be for such periods of time, and shall contain
801	such other terms and provisions as shall be agreed upon among
802	the authority, the Florida Department of Transportation, and the
803	state highway department of Georgia, or any other agency, board,
804	or instrumentality of the State of Georgia.
805	Section 38.  Florida Department of Transportation
806	authorized to contract by lease-purchase.--The Florida
807	Department of Transportation is hereby authorized to enter into
808	lease-purchase agreements or other agreements with the authority
809	relating to any part or parts of such revenue-producing projects
810	located within the State of Florida and is further authorized,
811	as part of the consideration (for such lease-purchase agreements
812	or other agreements), to covenant and agree with the authority
813	to pay all the cost of operation, maintenance, and repair of the
814	part or parts of the revenue-producing projects located within
815	the State of Florida, during the term of such lease-purchase
816	agreements or other agreements.
817	Section 39.  Legality of lease-purchase agreements, bonds,
818	and other agreements; received; rights of bondholders.--
819	(1)  Any lease-purchase agreement or other agreement
820	entered into between the authority and the Florida Department of
821	Transportation relating to any part or parts of such revenue-
822	producing projects located within the State of Florida pursuant
823	to this act shall not be subject to the provisions of any other
824	law or laws, general or special, of the State of Florida
825	relating to lease-purchase agreements, and the authority and the
826	Florida Department of Transportation may, in the lease-purchase
827	agreements or other agreements, enter into such terms and
828	conditions relative to the operation, control, and management of
829	such revenue-producing projects located partly within the State
830	of Florida and partly within the State of Georgia as shall be
831	deemed advisable and necessary, including the payment of all
832	rentals or other payments due under such lease-purchase
833	agreements or other agreements to a bank or trust company as
834	trustee. The authority and the Florida Department of
835	Transportation may further enter into covenants and agreements
836	in the lease-purchase agreements or other agreements in order to
837	better secure the holders of any revenue bonds issued by the
838	authority and to obtain greater marketability of the revenue
839	bonds, relating to the following matters:
840	(a)  The deposit with a bank or trust company, as trustee,
841	of the proceeds of bonds issued by the authority to finance the
842	acquisition, construction, or improvement of the revenue-
843	producing projects.
844	(b)  The maintenance of fees, tolls, rentals, or other
845	charges for the use of the services and facilities of the
846	revenue-producing projects.
847	(c)  The pledging to the holders of revenue bonds or other
848	obligations issued pursuant to this act of all or any part of
849	the fees, tolls, rentals, or other charges derived from the
850	operation of the revenue-producing projects.
851	(d)  The deposit with a bank or trust company, as trustee,
852	of all or any part of the fees, tolls, rentals, or other charges
853	derived from the operation of such revenue-producing projects,
854	and the use and application thereof.
855	(e)  The rank and priority between any revenue bonds or
856	other obligations issued by the authority for the construction,
857	acquisition, or improvement of the revenue-producing projects.
858	(f)  The payment of all or any part of the cost of
859	operation, maintenance, and repair of the revenue-producing
860	projects.
861	(g)  Covenants or agreements with the state highway
862	department of the State of Georgia, or any other agency, board,
863	or instrumentality of the State of Georgia, relating to such
864	revenue-producing projects which are authorized by this section
865	or any other law or laws of the State of Florida or the State of
866	Georgia.
867	(h)  The appointment of a receiver for the revenue-
868	producing projects and the manner and terms of appointment
869	thereof and the rights of the holders of revenue bonds or other
870	obligations issued under the provisions of this section relative
871	thereto.
872	(i)  Any other covenants, terms, and conditions which in
873	the opinion of the authority are necessary or advisable.
874	(2)  All such covenants and agreements of the Florida
875	Department of Transportation and the authority shall be and
876	constitute valid and legally binding obligations of the
877	authority and the Florida Department of Transportation and shall
878	be fully enforceable by the holders of any of the revenue bonds
879	or other obligations, or the interest coupons appertaining
880	thereto, in any court of competent jurisdiction in the state.
881	Section 40.  Other projects not to affect undertakings
882	under this act.--The provisions of this act shall not in any
883	manner affect any lease-purchase agreements entered into between
884	the authority and the Florida Department of Transportation
885	relative to any projects which are located wholly within the
886	state, and the general laws of the state or any other special
887	acts applicable thereto shall remain in full force and effect
888	for any such projects located wholly within the state. It is the
889	express intention of this act, however, that no other general or
890	special law of the state relative to lease-purchase agreements
891	shall have any application to revenue-producing projects located
892	partly within the state and partly within the State of Georgia
893	which are financed by the authority under the provisions of this
894	act.
895	Section 4.  Chapters 21418 (1941), 24733 (1947), 26048
896	(1949), 27763 (1951), 30290 (1955), 67-1737, 67-1739, 67-1748,
897	69-1328, 83-471, 83-474, 84-486, 86-371, 87-439, and 91-347,
898	Laws of Florida, are repealed.
899	Section 5.  This act shall take effect upon becoming a law.

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