CHAPTER
30
FREEPORT, GRAND BAHAMA |
ARRANGEMENT OF
SECTIONS |
SECTION |
|
|
Affixation of Public Seal. |
|
SCHEDULE. |
CHAPTER 30 |
FREEPORT, GRAND
BAHAMA |
An Act to
authorise the entering into of an agreement with the Grand Bahama Port
Authority Limited and the Grand Bahama Development Company Limited for the
carrying out by them of certain developmental works in the Freeport area and to
continue in that area the exemption from real property tax for a period of
twenty-two years. | 35 of 1993
15 of 1994 |
[Commencement 31st
December, 1993] |
1. This Act may be cited as the Freeport, Grand Bahama
Act, 1993. | Short title. |
2. The Governor-General is hereby authorised at any time
within six months after the coming into operation of 'this Act
to enter into an agreement, substantially in the form set out in the Schedule
with the Grand Bahama Port Authority Limited and the Grand Bahama Development
Company Limited, both being companies incorporated under the stature laws of
The Bahamas. | Conclusion of Agreement. |
3. The Public Seal of the Commonwealth of The Bahamas
shall be affixed to the said agreement. | Affixation of Public Seal. |
4. Clause 2 of the Agreement shall subject to clause 3
thereof have the force of law. | Force of law. |
SCHEDULE (Section 2) |
The Commonwealth
of The Bahamas |
New Providence. |
This
AGREEMENT made the ......................... day of ........................,
1994 BETWEEN his Excellency Sir Clifford Darling, Governor-General acting for
and on behalf of the Government of the Commonwealth of The Bahamas (who and
whose successors in office for the time being are hereinafter included in the
term "Government") of the one part |
AND the
Grand Bahama Port Authority Limited and the Grand Bahama Development Company
Limited, both being companies incorporated under the statute laws of The Bahamas
and carrying on business within The Bahamas (hereinafter referred to as
"the Companies" which expression where the context admits shall
include their respective assigns) of the other |
WHEREAS- |
(A) The
Government and the Grand Bahama Port Authority entered into three Agreements
dated the 4th day of August, 1955, the 11th day of July, 1960 and the 1st day
of March, 1966, respectively whereby for a period of thirty-five (35) years
from the 4th day of August, 1955 no real property taxes or rates and no real
property levies (whether capital or periodic) of any kind shall be levied,
charged or collected by the Government within the Port Area or upon or against
any Land, building or structure within the Port Area as defined in the
aforementioned Agreement dated 4th August, 1955. |
(B) By the
Hawksbill Creek, Grand Bahama (Deep Water Harbour and Industrial Area)
(Extension of Tax Exemption Period) Act, 1992 the aforementioned exemption
period of thirty-five (35) years that ended on the 4th day of August, 1990 was extended
until the 4th day of August, 1993. |
(C) The
Government is satisfied that it is desirable for the purposes of encouraging
and facilitating further development on the Island of Grand Bahama with the
accompanying creation of employment opportunities on the Island of Grand Bahama
that there should continue to be enjoyed within the said Port Area the
aforementioned exemption from real property tax for a further period of
twenty-two (22) years from the 4th day of August, 1993 in consideration of the
Companies undertaking to carry out in a timely manner certain works of
development in the Port Area. |
NOW THIS AGREEMENT
made in consideration of its premises WITNESSETH as follows- |
1. The Companies
covenant with the Government that unless prevented from so doing by Act of God,
insurrection, riot ,civil commotion, war or warlike operations, strikes,
lockouts, force majeure, or any unforeseen or extraordinary
circumstances which may reasonably be considered to be beyond the control of
the Companies they shall jointly and severally carry out or cause to be carried
out on their behalf in an efficient diligent and timely manner the several
works and undertakings set out in the Schedule. |
2. That for a
period of twenty-two (22) years from the 4th day of August, 1993 no real
property taxes or rates and no real property levies (whether capital or
periodic) of any kind shall be levied, charged or collected by the Government
within the Port Area or upon or against any land, building or structure within
the Port Area. |
3. (1) It is
hereby mutually agreed that if the Companies shall fail to carry out and
complete any of the works or undertakings on their part contained in the
Schedule pursuant to their covenant under clause 1 the exemption granted under
clause 26 shall cease unless the Government and the Companies otherwise in
writing agree. |
(2) Where no date
is specified in the Schedule for the carrying out of a work or undertaking the.
Government shall give notice in writing to the Companies requiring them to
remedy their neglect within 30 days and where the Government is satisfied that
the neglect persist after the expiration of the period the Government shall by
further notice specify the continued neglect and thereupon as from the date of
that further notice the exemption conferred by clause 2 shall cease. |
4. For the
purposes of this Agreement "Port Area" has the same meaning as that
given to the expression for the purposes of the Agreements set out in Chapters
261 and 262 of the 2000 Statute Laws of The Bahamas. |
5. This Agreement
shall be construed and interpreted according to the Laws of The Bahamas. |
SCHEDULE (Clause 1) |
WORKS AND
UNDERTAKING |
1. Build and
complete with appropriate landscaping at a minimum cost of two million dollars
a centre for the administration of justice comprising facilities for the
accommodation of the sittings of the Supreme Court and Magistrates Court. |
2. Contribute by
way of two equal instalments the first to be made by the 15th February, 1994
and the other by 1st August, 1994 the sum of seven million dollars towards the
construction of facilities for two high schools to be built by the Government
on mutually agreed sites in the Port Area that are to be donated by the
Companies. |
3. Make an annual
payment to the Treasurer for the purpose of defraying the administrative
expenses incurred by the Government in the Port Area of the sum of Five hundred
thousand dollars for a period of five years and to carry out with the
Government a review in the fifth year of this undertaking. |
4. Fund the
construction and completion, in the Port Area by 1996 of a children's library
and thereafter to maintain the facility in a reasonable manner. |
5. Fund the
construction and establishment by 1995 of an arts and crafts teaching centre
and thereafter undertake the maintenance of the centre in the Port Area. |
6. Construct a
modern multi-purpose sports track and field facility, including a regulated
athletic track, on land in the Port Area by 1996. |
7. Construct within
ninety (90) days of the signing of this Agreement a fruit, vegetables and fish
vendors' complex on the grounds of the existing produce exchange cost of which
to be equally borne between the Government and the Companies. |
8. Assume by the
end of the year 1996 the responsibility for and the upgrading of the existing
potable water distribution system to Eight Mile Rock and to the western
settlements of Grand Bahama. |
9. Promote home
porting and container port facility at Freeport Harbour. |
10. Construct or
cause to be constructed beachfront cottages to promote second home investment
in the Port Area. |
11. Assist in the
creation of local Government in Grand Bahama. |
12. Donate land
within the Port Area for a new and adequate hospital in Grand Bahama. |
13. Promote the
development of an International University. |
14. Carry out
measures that are necessary to address erosion of public beaches in Grand
Bahama. |
15. Conduct a
feasibility study to determine water allocation for development purposes in the
Port Area. |
16. Introduce
additional environmental frameworks for development. |
17. Update the Master
Land Use plan for the Port Area. |
18. Establish an
organization to promote Grand Bahama internationally. |
19. Upgrade Freeport
into a garden city in keeping with the Government's "Beautiful Bahamas
Programme". |
20. Assume
responsibility for the maintenance and upkeep of Queens Highway in the Port
Area that is from the High Rock Settlement to Eight Mile Rock. |
21. Donate adequate
land for a Police Headquarters in the Port Area. |