§ 31-7-78. Issuance and Sale of Negotiable Revenue Anticipation Certificates
Every authority is authorized to provide by resolution for the issuance and sale of negotiable revenue anticipation certificates for the purpose of: Paying all or any part of the cost of the acquisition, construction, alteration, repair, modernization, and other charges incident thereto in connection with any facilities or project; Paying all or any part of […]
§ 31-7-79. Liability on Revenue Certificates; Tax Exemption
Neither the members of an authority nor any person executing certificates on behalf of an authority shall be personally liable thereon by reason of the issuance thereof. The certificates and other obligations of an authority shall not be, and shall so state on the face thereof, a debt of the city, the county, the state […]
§ 31-7-80. Form and Contents of Revenue Certificates; Validity of Signatures Thereon
Certificates of an authority shall be authorized by its resolution and may be issued in one or more series and shall bear such date or dates; mature at such time or times; bear interest at such rate or rates not exceeding 9 percent per annum; be in such denomination or denominations; be in such form, […]
§ 31-7-81. Confirmation and Validation of Revenue Certificates
Certificates of an authority shall be confirmed and validated in accordance with the procedure of Article 3 of Chapter 82 of Title 36; and, when validated, the judgment of validation shall be final and conclusive with respect to such certificates and against the authority issuing the same. In the event that the payments to be […]
§ 31-7-82. Enforcement of Rights of Revenue Certificate Holders; Procedure in Event of Default
Obligations of an authority evidenced by certificates and trust indentures and mortgages executed in connection therewith may contain such provisions not inconsistent with law as shall be determined by the authority. The authority may in such instruments provide for pledging of all or any part of its gross or net fees, tolls, charges, revenues, and […]
§ 31-7-83. Investment of Surplus Moneys and Moneys Received Through Issuance of Revenue Certificates
Pending use for the purpose for which received, each hospital authority created by and under this article is authorized and empowered to invest all moneys or any part thereof received through the issuance and sale of revenue certificates of the authority in any securities which are legal investments or which are provided for in the […]
§ 31-7-74. Residency Requirement; Officers; Compensation; Rules and Regulations
The members of a hospital authority shall be residents of the participating units comprising the authority. The requirement of residence shall not apply to authorities activated under subsection (d) of Code Section 31-7-72, provided they are selected from within the area of service and within 12 miles of the hospital location or within 12 miles […]
§ 31-7-74.1. Definitions; Disclosures Required; Prohibited Transactions; Exceptions; Sanctioning; Sanctioning of Members Violating Prohibition; Authorization of Authority to Make Stricter Rules; Preemption of Other Laws; Applicability
As used in this Code section, the term: “Family” means spouse, child, or sibling. “Financial interest” means the direct or indirect ownership of any assets or stock of any business. “Substantial interest” means the direct or indirect ownership of more than 25 percent of the assets or stock of any business. “Transact business” or “transact […]
§ 31-7-74.2. Oath to Be Taken by Members of Hospital Authority
Each member of a hospital authority shall take in the presence of an officer authorized to administer same the following oath: I, _______________ , citizen of _______________ _______________ County, Georgia, do solemnly swear that I will, to the best of my ability, without favor or affection to any person and without any unauthorized financial gain […]
§ 31-7-74.3. Sale or Lease by Hospital Authority; Hearing Required; Factors to Be Considered at Hearing; Applicability; Requirements for Lease
No hospital which is owned by a hospital authority may be sold or leased to a for profit entity, a not for profit entity, or another hospital authority unless a public hearing regarding such action is held in the county where such hospital is located at least 60 days prior to such sale or lease […]