The fiscal year of the authority shall commence on October 1 of each year and end
on the following September 30. The authority shall prepare and submit its budget to
the council of the City of Jacksonville on or before July 1 for the ensuing fiscal
year. The council, consistent with the provisions of the Charter of the City of Jacksonville,
may increase or decrease the appropriation (budget) requested by the authority on
a total basis or a line-by-line basis; however, the appropriation for construction,
reconstruction, enlargement, expansion, improvement, or development of any project
or projects authorized to be undertaken by the former Jacksonville Port Authority
and the authority shall not be reduced below the amount required under the terms and
provisions of any outstanding bonds.
(Laws of Fla., Ch. 2004-464, § 1)
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