Industrial Development in Marengo County.

Any provision of the Constitution of Alabama or amendments thereto to the contrary notwithstanding, the legislature by general or local law may authorize, provide for and regulate the formation and operation in Marengo county of public corporations authorized to engage in promoting the industrial development of Marengo county and the municipalities therein and particularly the development and commercial use of the inland waterways in such county. Any such law may prescribe the powers and authority of any corporation formed thereunder, which may include, but shall not be limited to the following: the authority to acquire, construct, operate, improve, and finance wharves, stocks, warehouses and other port and related facilities in Marengo county; to apply for permission to operate a foreign trade zone and to establish, operate and maintain such a zone; to exercise the power of eminent domain; to borrow money for any of its corporate purposes and issue interest-bearing revenue bonds and other securities, but such corporation shall not have authority to create a debt against the state, Marengo county or any municipality or other political subdivision of Marengo county. The act may authorize Marengo county or any municipality or other political subdivision, public corporation, agency or instrumentality of Marengo county to aid and cooperate with the corporation authorized in the act, and with or without consideration to transfer any port facilities or other property to any corporation organized under such act. Such law may exempt any corporation organized pursuant to it from some or all taxation by the state, Marengo county or any municipality in Marengo county; from tort liability; and from the payment of certain fees of public officers.