HB 0619

CS

CHAMBER ACTION

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33	Laws of Florida, are codified, reenacted, amended, and repealed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

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