§ A3-5. Powers of the authority.

The authority is hereby authorized and empowered:

(a)

To adopt bylaws for the regulation of its affairs and the conduct of its business.

(b)

To adopt an official seal and alter the same at pleasure.

(c)

To maintain an office at such place or places as it may designate.

(d)

To sue and be sued in its own name, plead and be impleaded.

(e)

To acquire, lease as lessee or lessor, construct, reconstruct, improve, extend, enlarge, equip, repair, maintain and operate any airport facilities.

(f)

To lease as lessor for other than airport purposes or to sell or otherwise dispose of any land or other airport facilities which it has determined are no longer used or useful for airport purposes, subject, however, to any limitations which may be imposed on such leasing or disposition by any bonds issued by the authority hereunder or by any proceedings taken in connection with the issuance of such bonds or by any contracts entered into hereunder.

(g)

To issue bonds of the authority as hereinafter provided to pay the cost of such acquisition, construction, reconstruction, improvement, extension, enlargement or equipment.

(h)

To issue refunding bonds of the authority as hereinafter provided.

(i)

To combine any airport facilities for the purpose of operation and financing.

(j)

To fix and revise from time to time and to collect rates, fees and other charges for the use of or for the services furnished by any airport facilities.

(k)

To acquire in the name of the authority by gift, purchase or the exercise of the right of eminent domain in accordance with the laws of the State of Florida which may be applicable to the exercise of such powers by counties or municipalities, including, without limitation, the leasehold interest of lessees under leases made by the authority as lessor, and to acquire such personal property, as it may deem necessary in connection with the acquisition, construction, reconstruction, improvement, extension, enlargement, equipment, operation, maintenance or repair of any airport facilities, and to hold and dispose of all such real and personal property under its control. The power granted herein, and under subsection (e) for acquisition of lands, is limited to lands and interests therein needed for airport purposes for the Dunnellon Airport, provided, however, that such limitation shall not apply to any other lands or interests therein if:

(1)

The acquisition is for a general aviation facility which is not acquired for purposes of accommodating major certified air carriers, and the acquisition is approved by resolution of Marion County, or

(2)

The acquisition is for use by major certified air carriers and the acquisition has been approved in a referendum of electors in Marion County.

(l)

To exercise the right of eminent domain in accordance with the provisions of chapter 74, Florida Statutes, as from time to time amended, or any successor statutes, in the same manner as therein provided for the acquiring of right-of-way for the state highway system and to take title to lands in fee simple absolute or such lesser estate as may be specified in the declaration of taking, upon the deposit of such sum as the court shall determine will fully secure and fully compensate the persons lawfully entitled to compensation.

(m)

To make and enter into all contracts and agreements necessary or incidental to the performance of its duties and the execution of its powers under this act [article] including a trust agreement or trust agreements securing any bonds issued hereunder, and to employ such consulting and other engineers, superintendents, managers, construction and financial experts, accountants and attorneys, and such employees and agents as may, in the judgment of the authority, be deemed necessary, and to fix and pay their compensation, and with regard to such superintendents, managers, accountants, and employees to provide for deferred compensation, health, accident, and disability payments, and other fringe benefits, and to remove any employee at any time upon such notice as the authority shall deem fair and reasonable by a majority vote of the members of the authority; provided, however, that all such expenses shall be payable solely from funds made available under the provisions of this act [article].

(n)

To accept grants of money or materials or property of any kind for any airport facilities from any federal or state agency, political subdivision or other public body or from any private agency or individual, upon such terms and conditions as may be imposed and to enter into contracts and grants agreements with the federal aviation agency, or any successor or successors thereof, and with the State of Florida or any of its agencies, in the capacity of sponsor or cosponsor of any airport development project involving the acquisition, construction, reconstruction, improvement, extension, enlargement or equipment of any airport facilities owned or operated by the authority, pursuant to any federal or state law providing for aid to airports.

(o)

To make purchase money mortgages on any additional property purchased by the authority, or to purchase property subject to mortgages, provided, however, that the security instrument evidencing any such mortgage shall expressly limit and confine the lien of the mortgage to the property so purchased.

(p)

To borrow money from time to time, and to procure one or more lines of credit from time to time in furtherance thereof, for any corporate purpose of the authority and to secure any such loan by executing a promissory note or notes in the name of the authority pledging any revenues of the authority, provided that any such promissory note shall be, and shall state on its face that it is subordinate and subject in right to payment from the revenues of any airport facilities (but not subordinate and subject in right to payment from federal or state grants unless so provided in any resolution or trust agreement as mentioned hereinafter) to all bonds and bond anticipation notes theretofore or thereafter issued by the authority pursuant to this act [article] or any other statute for the purpose of paying the cost of acquiring, constructing, reconstructing, improving, extending, enlarging or equipping any airport facilities, except to the extent otherwise provided in any resolution or trust agreement authorizing or securing, respectively, said bonds or bond anticipation notes.

(q)

To exercise and perform all of the powers and prerogatives conferred upon "political subdivisions" by chapter 333, Florida Statutes, as from time to time amended, or any successor statute, with respect to the adoption, promulgation and enforcement of airport zoning regulations under the provisions of said chapter, and that when, as, and if the authority shall adopt or promulgate or cause to be adopted or promulgated airport zoning regulations pursuant to said chapter, the regulations so adopted shall supersede the regulations theretofore adopted by the airport zoning board of Marion County, insofar as such regulations of the said airport zoning board of Marion County pertain to the Dunnellon Airport.

(r)

To construct, maintain, operate, lease and regulate motor vehicle parking facilities for the agents, employees, guests and business invitees of the authority or its tenants and the visiting public. The authority may enter into lease and franchise agreements with private persons or corporations as tenants or operators of such facilities upon such terms and for such periods of time as the authority may deem appropriate. The authority shall hold a public hearing, after the publication of a notice of such hearing in a newspaper of general circulation in Marion County at least one time no less than ten (10) nor more than twenty-five (25) days prior to such hearing to:

(1)

Consider the establishment of rates or fees, if any, which shall be charged to persons who utilize any such parking facility or

(2)

Consider any subsequent revisions therein which increase such rates or fees.

The authority is authorized to pledge the income and revenues derived from such leases and franchise agreements as security for the repayment of loans extended to the authority or as security for the payment of any bonds of the authority issued pursuant to section 5 of this act [section A3-7] as it may deem necessary or desirable from time to time.

(s)

To adopt a budget prior to September 30 of each year for the ensuring fiscal year commencing on October 1. The budget after adoption, may be amended or altered only by action of the authority taken at a regular or special meeting. In any fiscal year, the authority shall not authorize the expenditure of authority funds in excess of those budgeted, except to the extent that the actual or anticipated receipts exceed the budgeted income. All checks for disbursement of funds of the authority shall be signed by the chairman or in the absence of the chairman by the vice-chairman. The authority, through its bylaws, shall establish the procedure for determining the "absence" of the chairman for purposes of signing of checks by the vice-chairman.

(t)

To employ an airport manager to manage the Dunnellon Airport.

(u)

To do all acts and things necessary or convenient to carry out the powers granted by this act [article].

(Laws of Fla., Ch. 81-436, § 5)