Governor Rick Scott on Wednesday signed a bill abolishing the Carrabelle Port and Airport Authority.
The Authority was created in 1986 to oversee development at the Carrabelle airport and and once played a major role in the development of Timber Island.
But the authority has been inactive for 16 years.
The City of requested that the Port Authority be dissolved because its not really needed anymore and reactivating it would be expensive for the city.
The move was supported by the Franklin County Commission.
The bill signed by the governor this week officially abolished the authority and transfers all of its assets and liabilities to the City of Carrabelle.