§ 32-10-121. Creation; Governance; Corporate Purpose; Types of Accounts
There shall be created within the State Road and Tollway Authority an instrumentality of the state to be known as the Georgia Transportation Infrastructure Bank. The bank shall be governed by the board of the State Road and Tollway Authority as provided in this chapter. The corporate purpose of the bank is to assist in […]
§ 32-10-122. Definitions
As used in this part, the term: “Bank” means the Georgia Transportation Infrastructure Bank. “Board” means the board of the State Road and Tollway Authority. “Department of Transportation” means the Georgia Department of Transportation and its successors. “Eligible costs” means, as applied to a qualified project to be financed from the federal roadway account, the […]
§ 32-10-123. Authority of the Board
In administering the affairs of the bank, the board may exercise any or all of the powers granted to the authority under Parts 1 and 2 of this article, as well as the powers granted in this part. Without limiting the generality of the foregoing, the board is specifically authorized to issue bonds for the […]
§ 32-10-124. Power of Board; Meaning of Use of Word “Bank” for Purposes of This Article
In addition to the powers contained elsewhere in this article, the board has all power necessary, useful, or appropriate to fund, operate, and administer the bank, and to perform its other functions including, but not limited to, the power to: Have perpetual succession; Adopt, promulgate, amend, and repeal bylaws, not inconsistent with provisions in this […]
§ 32-10-125. Revenue Sources
The following sources may be used to capitalize the bank and for the bank to carry out its purposes: Appropriations by the General Assembly; Federal funds available to the state, as approved by the Department of Transportation; Contributions, donations, and deposits from government units, private entities, and any other source as may become available to […]
§ 32-10-101. Payment of Bond Proceeds to Trustee
The authority shall, in the resolution providing for issuance of revenue bonds or in the trust indenture, provide for the payment of the proceeds of the sale of the bonds to any officer or person who or any agency, bank, or trust company which shall act as trustee of such funds and shall hold and […]
§ 32-10-102. Pledges of Revenues, Tolls, and Earnings; Creation and Disposition of Sinking Funds
The revenues, tolls, and earnings derived from any particular project or projects and all or any part of the revenues, tolls, and earnings received by the authority, regardless of whether or not such tolls, earnings, and revenues were produced by a particular project for which bonds have been issued, unless otherwise pledged or allocated, may […]
§ 32-10-103. Rights and Remedies of Holders of Bonds or Interest Coupons and of Indenture Trustees
Any holders of revenue bonds issued under this article or any of the coupons appertaining thereto, any duly appointed receiver of such bonds or coupons, and any indenture trustee for bondholders, except to the extent the rights given in this Code section may be restricted by resolution passed before the issuance of the bonds or […]
§ 32-10-104. Refunding Bonds
The authority is authorized, subject to any prior resolution or trust indenture, to provide by resolution for the issuance of revenue refunding bonds of the authority for the purpose of refunding any revenue bonds issued under this article and then outstanding, together with accrued interest thereon. The issuance of such revenue refunding bonds, the maturities […]
§ 32-10-105. Investment of Funds in Bonds; Deposit of Bonds as Securities
The bonds authorized in paragraph (8) of Code Section 32-10-63 and in Code Section 32-10-90 are deemed securities in which (1) all public officers and bodies of this state and all municipalities and all municipal subdivisions, (2) all insurance companies and associations and other persons carrying on an insurance business, (3) all banks, bankers, trust […]