Section 5. - Additional powers of the city.

In addition to powers which the city may now have and in addition to the power granted in section 4, the city shall have the power under this act: (1) To finance, construct, acquire, improve, maintain, and operate or contract with persons, firms, or corporations for the financing, construction, acquisition, improvement, operation, maintenance, or ownership of a solid waste disposal and resource recovery system within the territorial boundaries of the city and to acquire by gift, purchase, or the exercise of the power of eminent domain lands or rights in lands and any other property, real or personal, tangible or intangible, necessary for such purposes. (2) To operate and maintain or provide for the construction, operation, and maintenance of such solid waste disposal and resource system or any portion thereof for its own use and for the use and benefit of persons within the area affected by this act or territory adjacent thereto who shall use such facilities and services and to enter into long-term contracts or agreements for the disposal of solid waste and resource recovery with any such persons. (3) To exercise all powers in connection with the authorization, issuance, and sale of bonds, notes, or other evidences of indebtedness as are conferred by parts I, II, and III of chapter 159, Florida Statutes, or part II of chapter 166, Florida Statutes, or both, or any other statute of general applicability hereinafter enacted relating to the issuance of debt obligations by cities, counties, or other political subdivisions of the state for the purpose of paying or refinancing all or part of the cost of any one or more self-liquidating projects, or any combination thereof as a single project, which are a part of the city's solid waste disposal and resource recovery system. The principal and interest of such bonds, notes, or other evidences of indebtedness shall be payable from the revenues derived from the operation of the system and from any other special funds, other than ad valorem tax revenues, as may be provided in connection with the issuance thereof. The bonds, notes, or other evidences of indebtedness of each issue shall be dated, may or may not bear interest which shall be at a rate or rates (which may be fixed or any vary from time to time in accordance with a specified formula or method of determination) not exceeding amounts allowable by general law in effect at the time of the issuance of each series, shall mature at one time or at times not exceeding 40 years from their date or dates of issuance as may be determined by the city and may be made redeemable before maturity at the option of the city at such price or prices and under such terms and conditions as may be fixed by the city prior to the issuance of tile bonds, notes, or other evidences of indebtedness. The city shall determine the form of the bonds, notes, or other evidences of indebtedness and the interest coupons if any, to be attached thereto and the manner of executing the bonds, notes, or other evidences of indebtedness and coupons, and shall fix the denomination or denominations of the bonds, notes, or other evidences of indebtedness and the place or places of payment of the principal and interest, which may be at any bank or trust company within or without the state. If any officer whose signature or a facsimile of whose signature appears on any bonds, notes, or other evidences of indebtedness or coupons ceases to be such officer before the delivery of such bonds, notes, or other evidences of indebtedness, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes as if he had remained in office until such delivery. Such bonds, notes, or other evidences of indebtedness shall have and are hereby declared to be and to have all the qualities and incidents of negotiable instruments under the Uniform Commercial Code of the state. Provision may be made for the registration of any of the bonds, notes, or other evidences of indebtedness in the name of the owner as to principal alone or as to both principal and interest and for the reconversion of any of the bonds, notes, or other evidences of indebtedness registered as to both principal and interest into coupon bonds, notes, or other evidences of indebtedness. Such bonds, notes, or other evidences of indebtedness may be issued without regard to any limitation on indebtedness prescribed by any other law and shall not be included in the amount of bonds, notes, or other indebtedness which the city may be authorized to issue under any statute or charter. The city may sell such bonds, notes, or other evidences of indebtedness in such manner and for such price as it may determine to be in the best interests of the city, subject to the restrictions of any general law in effect at the time of sale. Prior to the preparation of definitive bonds, notes, or other evidences of indebtedness, the city may, under like restrictions, issue interim receipts, interim certificates, or temporary bonds, with or without coupons, exchangeable for definitive bonds, notes, or other evidences of indebtedness when such bonds, notes, or other evidences of indebtedness have been executed and are available for delivery and may issue bond anticipation notes pursuant to s. 215.431, Florida Statutes. The city may also provide for the replacement of any bonds, notes, or other evidences of indebtedness which shall become mutilated, or be destroyed or lost. Such bonds, notes, or other evidences of indebtedness may be issued without any other proceedings or the happening of any conditions or events other than those proceedings, conditions or events which are specifically required herein. (4) In the discretion of the city, each or any issue of such bonds, notes, or other evidences of indebtedness may be secured pursuant to an ordinance or resolution or by a trust agreement by and between the city and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. Such ordinance, resolution, or trust agreement may pledge or assign any revenues, securities, contract rights, or other personal property, but in the case of a city-owned facility shall not convey or mortgage any project or any part thereof. Any pledge of revenues, securities, contract rights, or other personal property made in such ordinance, resolution, or trust agreement shall be valid and binding from the date the pledge is made and the revenues, securities, contract rights. or other personal property so pledged shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the city without regard to whether said parties have notice of the lien. Such ordinance, resolution, or trust agreement may contain such provisions for protecting and enforcing the rights and remedies of the holders of the bonds, notes, or other evidences of indebtedness as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the city and the legislative body of the city in relation to the acquisition, construction, improvement, maintenance, operation, repair, and insurance of the facilities and the custody, safeguarding, and application of all moneys. It shall be lawful for any bank or trust company formed under the laws of any state or the United States to act as such trustees and to furnish such indemnifying bonds or to pledge such securities as may be required by the city. Such ordinance, resolution, or trust agreement may set forth the rights and remedies of the holders of the bonds, notes, or other evidences of indebtedness and of the trustee, if any, and may restrict the individual right of action by holders of the bonds, notes, or other evidences of indebtedness as is customary in trust agreements or trust indentures securing bonds or debentures of corporations. In addition to the foregoing, such ordinance, resolution, or trust agreement may contain such other provisions as the city may deem reasonable and proper for the security of holders of the bonds, notes, or other evidences of indebtedness. Except as otherwise provided herein, the city may provide, by such ordinance, resolution, or trust agreement, for the payment of the proceeds of the sale of the bonds, notes, or other evidences of indebtedness and the revenues of the facilities to such officer, board, or depository as it may determine for the custody thereof and for the method of disbursement thereof with such safeguards and restrictions as it may determine. All expenses in carrying out such ordinance, resolution, or trust agreement may be treated as a part of the cost of operation of the facilities affected by such ordinance, resolution, or trust agreement. (5) To employ and to enter into agreements and contracts with consultants, advisers, engineers, attorneys, or fiscal, financial, or other experts for the planning, preparation, supervision, and financing of such solid waste disposal and resource recovery system or any part thereof upon such terms and conditions as to compensation and otherwise as the governing body of the city shall deem reasonable and proper. (6) To enter into contracts for the sale of resources recovered and energy generated in operation of the solid waste disposal and resource recovery system. (7) To use any rights-of-way, easements, or other similar property rights, necessary or convenient, in connection with the construction, acquisition, improvements, operation, or maintenance of such solid waste disposal and resource recovery system held by the state or any local agency thereof, and the state hereby consents to such use whenever necessary to carry out the purposes of this act to the extent such use by the city does not interfere with the existing public purpose. (8) To grant exclusive or nonexclusive franchises to persons for the financing, ownership, improvement, construction, acquisition, operation, maintenance, or ownership of such solid waste disposal and resource recovery system for a term not exceeding 40 years; provide for the issuance of licenses or permits to persons for the collection of solid waste in the area affected by this act; impose such conditions on said franchises as shall include, but not be limited to, standards of service, rate regulation, area of population, and franchise fee for privilege of operating under the franchise; provide that the franchise shall have no value as to the unexpired term of the franchise in the event of revocation; provide in such franchise agreement the right of acquisition by condemnation; impose such other conditions on said franchise as shall be reasonable and necessary; and issue industrial development bonds to assist in the construction and acquisition of such facilities pursuant to part II of chapter 159, Florida Statutes. (9) To adopt and enforce all ordinances necessary or convenient to carry out the purposes of this act. (Laws of Fla., Ch. 89-512, § 2)