§ 20-16-1. Short Title
This chapter shall be known and may be cited as the “Georgia Higher Education Facilities Authority Act.” History. Code 1981, § 20-16-1 , enacted by Ga. L. 2006, p. 783, § 1/SB 562.
§ 20-16-10. Bonds Do Not Create a Debt of the State; Recitals on Face of Bonds
Revenue bonds issued under this chapter shall not be deemed to constitute a debt of the state or a pledge of the faith and credit of the state, but such bonds shall be payable solely from the property provided for in Code Section 20-16-5; and the issuance of such revenue bonds shall not directly, indirectly, […]
§ 20-16-11. Investment in Bonds by Public Officers and Public Bodies
The bonds authorized in this chapter are made securities in which all public officers and public bodies of this state and all municipalities and all political subdivisions; all insurance companies and associations and other persons carrying on an insurance business; all banks, bankers, trust companies, savings banks, and savings associations, including savings and loan associations, […]
§ 20-16-12. Bonds and Income Therefrom Exempt From Taxation
The creation of the authority and the carrying out of its corporate purpose is in all respects for the benefit of the people of this state and is a public purpose, and the authority will be performing an essential governmental function in the exercise of the power conferred upon it by this chapter; and this […]
§ 20-16-13. Attorney General to Provide Legal Services for the Authority; Accountability
The Attorney General shall provide legal services for the authority and in connection therewith the provisions of Code Sections 45-15-13 through 45-15-16 shall be fully applicable. The members of the authority shall be accountable in all respects as trustees. The authority shall keep suitable books and records of all actions and transactions and shall submit […]
§ 20-16-14. Jurisdiction
Any action to protect or enforce any rights under this chapter shall be brought in the Superior Court of Fulton County; and any action pertaining to validation of any bonds issued under this chapter shall likewise be brought in such court, which shall have exclusive, original jurisdiction of such actions. History. Code 1981, § 20-16-14 […]
§ 20-16-15. Funds Received Pursuant to This Chapter to Be Held in Trust
All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of revenue bonds, as grants or other contributions, or as revenues, rents, and earnings, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. History. Code 1981, § 20-16-15 , enacted […]
§ 20-16-16. Additional and Alternative Method
This chapter shall be deemed to provide an additional and alternative method for the doing of the things authorized by this chapter, shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of any powers now existing. History. Code 1981, § 20-16-16 , enacted […]
§ 20-16-17. Liberal Construction of Chapter
This chapter, being for the welfare of the state and its inhabitants, shall be liberally construed to effect its purposes. History. Code 1981, § 20-16-17 , enacted by Ga. L. 2006, p. 783, § 1/SB 562.
§ 20-16-18. Creation of Georgia Higher Education Facilities Authority Committee
There is created as a joint committee of the General Assembly the Georgia Higher Education Facilities Authority Committee to be composed of five members of the House of Representatives appointed by the Speaker of the House, two of whom shall be members of the minority party, five members of the Senate appointed by the Senate […]
§ 20-16-2. Definitions; “Self-Liquidating” Projects
As used in this chapter, the term: “Authority” means the Georgia Higher Education Facilities Authority. “Board of regents” means the Board of Regents of the University System of Georgia. Reserved. “Bonds” or “revenue bonds” means any bonds issued by the authority under this chapter, including refunding bonds. “Construction” means construction, renovation, improvement, rehabilitation, or restoration. […]
§ 20-16-3. Georgia Higher Education Facilities Authority Created; Appointment of Members; Terms of Office; Officers
There is created a body corporate and politic to be known as the Georgia Higher Education Facilities Authority, which shall be deemed to be an instrumentality of this state and a public corporation; and by that name, style, and title such body may contract and be contracted with, bring and defend actions, and implead and […]
§ 20-16-4. Powers
The authority shall have power: To have a seal and alter it at pleasure; To acquire by purchase, lease, or otherwise and to hold, lease, and dispose of real and personal property of every kind and character for its corporate purposes; To acquire in its own name by purchase, on such terms and conditions, and […]
§ 20-16-5. Revenue Bonds
Revenue bonds issued by the authority shall be paid solely from the property (including, but not limited to, real property, fixtures, personal property, revenues, or other funds) pledged, mortgaged, conveyed, assigned, hypothecated, or otherwise encumbered to secure or to pay such bonds. No revenue bonds shall be issued by the authority under this chapter unless […]
§ 20-16-6. Confirmation and Validation of Bonds; Exchangeability and Transferability; Certificate of Validation
Bonds of the authority shall be confirmed and validated in accordance with the procedure of Article 3 of Chapter 82 of Title 36. Bonds issued by the authority may be in such form, either coupon or fully registered, or both coupon and fully registered, and may be subject to such exchangeability and transferability provisions, as […]
§ 20-16-7. Provisions of Agreements or Instruments; Use of Bond Proceeds; Subsequent Bond Issues; Issuance of Bond Anticipation Notes
Subject to the limitations and procedures provided by this Code section and by Code Section 20-16-6, the agreements or instruments executed by the authority may contain such provisions not inconsistent with law as shall be determined by the members of the authority. The proceeds derived from the sale of all bonds issued by the authority […]
§ 20-16-8. Sale of Bonds
The authority may sell its bonds in such manner and for such price as it may determine to be for the best interests of the authority. Whenever the authority shall determine to issue its bonds, it shall request the Georgia State Financing and Investment Commission to approve the bonds and carry out other services for […]
§ 20-16-9. Timing of Issuance of Revenue Bonds
Revenue bonds may be issued without any other proceedings or the happening of any other conditions or things than those proceedings, conditions, and things which are specified or required by this chapter. In the discretion of the authority, revenue bonds of a single issue may be issued for the purpose of paying the cost of […]