The board of supervisors of any county in which there has been created a county port authority or county development commission as provided in this chapter, acting through its county port authority or county development commission, shall have the following additional powers and authority:
To set aside or lease all or portions of said harbor facilities, wharves, docks, sheds, warehouses, elevators, compresses, floating dry docks, graving docks, marine railways, tugboats or any necessary or useful improvements for special purposes for a term not exceeding ninety-nine (99) years.
To sell, lease or otherwise dispose of tourism facilities, service facilities, shipyards, shipbuilding facilities, machinery and equipment, dredges, facilities and land acquired for industrial or harbor operations to individuals, firms or corporations, public or private, for industrial operations on such terms and conditions and with such safeguards as will best promote and protect the public interest, and they are hereby authorized to transfer possession and/or title to any part of all of such facilities and lands by deed, lease, contract or other customary business instrument; however, no such lease of land or facilities acquired for industrial operations shall be executed for a term in excess of ninety-nine (99) years from its date, and before the execution of the same any such deed, conveyance, lease, contract or other disposition shall be authorized by the affirmative vote of at least two-thirds (2/3) of the membership of such port authority or development commission by order or resolution entered on its minutes, which order or resolution shall set forth the substantial terms of such deed, conveyance, lease, contract or other disposition.
In the letting of contracts and in the advertisement for bids thereon, for the development, construction, repair, maintenance or operation of any structures, facilities and lands required pursuant to any of the provisions of this chapter, the board of supervisors and the county port authority shall comply with all of the requirements of the general laws of the State of Mississippi governing the advertisement for bids and the letting of contracts by county boards of supervisors. In the event title to any such lands under jurisdiction of the port authority or development commission is in the name of the county, no such transaction shall be consummated until and unless the same be authorized by proper resolution of the port authority or development commission and of the county, in which event the county shall join the port authority or development commission in the execution of such instrument. Any such sale or lease may be executed upon such terms and conditions and for such monetary rental or other consideration as may be found adequate and approved by the county port authority or county development commission and the board of supervisors in orders or resolutions authorizing the same. Any covenants and obligations of the lessee or purchaser to make expenditures in determined amounts and within such time or times for improvements to be erected on the land by such lessee or purchaser and to conduct thereon industrial operations in such aggregate payroll amounts and for such period of time or times as may be determined and defined in such lease or conveyance, and to give preference in employment where practicable to qualified residents of the port of entry and of the county and/or state in which such port is situated, shall, if included in such lease or conveyance, constitute and be deemed sufficient consideration for the execution of any such lease or conveyance in the absence of a monetary rental or other considerations; any such lease may contain reasonable provisions giving the lessee the right to remove its or his improvements upon termination of the lease. Where the rentals provided in the lease will be sufficient to fully retire the cost of the particular facility or where the monetary consideration for a deed is sufficient to fully repay the cost of land acquired for industrial operations described in said deed, contracts for construction, repairs, maintenance and operation of the facility or for the sale of the land, may be negotiated and consummated without the necessity of advertising and obtaining competitive bids therefor. Such county, acting through the port authority or development commission, shall have the right to reclaim submerged lands for such purposes and shall also have the right to acquire by eminent domain proceedings, purchase or otherwise, any land or estate therein or property and rights that may be necessary for the purposes of this chapter, provided that land acquired for industrial operations by eminent domain shall be leased or shall be sold only with such provisions in the deed or lease as shall ensure that the use of the land shall be beneficial to the carrying out of the purposes of this chapter and the promotion of commerce through said port. The county, acting through the port authority or development commission, shall have no authority or power to acquire without the consent of the owner thereof any property operated or used for port, harbor or industrial operations, or for such purposes as the county, acting through the port authority or development commission, is authorized to acquire and use such property for, where such property has been sold or leased by the county, acting through the port authority or development commission, to any person, firm or corporation for industrial operations as provided in this chapter. In the exercise of eminent domain, the county, acting through the port authority or development commission, shall determine the amount and character of the land or estate therein thus to be acquired and the public necessity for such exercise and their determination shall be conclusive and shall not be subject to attack in the absence of manifold abuse of discretion or fraud on the part of said county in making such determination and said county, acting through the port authority or development commission, shall have all powers and authority vested in persons or corporations having the right of eminent domain by Sections 11-27-1 through 11-27-49 and all other statutes pertinent thereto.
To accept assurances and other agreements from persons, firms and corporations who are benefited by any action of the port authority pursuant to this chapter, including agreements to save the county harmless on account of any assurances given by the county to the United States of America or any agency thereof, including the Secretary of the Army, and to enter into contracts with such persons, firms or corporations relative to the future development and use of property owned by such persons, firms or corporations.
To obligate the county by contract with persons, firms and corporations owning or agreeing to purchase property in the area benefited by any action of the port authority under the provisions of this chapter for the construction, development, improvement or expansion of channels and other navigation projects by the county at its expense and the continued maintenance and operation thereof by the county at its expense for a period of time not to exceed ninety-nine (99) years, or so long as any such person, firm or corporation continues to use said property for industrial operations.
To obtain liability insurance as deemed appropriate for the needs of the port authority or development commission. If liability insurance is in effect, the port authority or development commission may be sued by anyone affected to the extent of such insurance carried; however, immunity from suit is waived only to the extent of such liability insurance carried, and a judgment creditor shall have recourse only to the proceeds or right to proceeds of such liability insurance.
To invest funds credited to the county development commission. A county development commission is vested with authority to designate depositories of its funds and to deposit its funds in insured, interest-bearing accounts or securities guaranteed by the good faith of the United States Treasury. All funds in excess of ninety (90) days' operating expenses, to the extent practicable, shall be invested in United States Treasury bills, interest-bearing accounts insured by the Federal Deposit Insurance Corporation, or other securities of the United States Government including United States Treasury bills, notes and bonds, federal agency securities, mortgage-backed securities guaranteed as to repayment of principal by the United States Government, or repurchase agreements and mutual funds invested in obligations of the United States Government or its agencies and repurchase agreements fully collateralized by such obligations.