This is the Billy Bowlegs Festival
weekend. The Friday fireworks are over, but there will be more tomorrow and a bloody parade on Monday that will totally screw-up driving.
The Chamber of Commerce feels that there needs to be something to combat Pensacola's festivals, so they created this "local legend" about a pirate seizing the town. The pirate is probably real, but the town didn't exist for a century after the guy died. Given that the Capone mob used to come down here during the Winter, it is highly unlikely that the locals would have done anything but welcome Bowlegs in hopes of selling him some property that was "only temporarily under water".
[I don't find fireworks fun. I don't like being around exploding gunpowder. Large flashes of light and loud sounds do not make me happy.]