§ 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 […]
§ 20-16-1. 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.
§ 20-16-2. 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. […]