§ 32-10-93. Execution, Seal, and Signing of Bonds
All bonds issued by the authority shall be executed in the name of the authority by the chairperson and secretary of the authority and shall be sealed with the official seal of the authority or a facsimile thereof. The facsimile signatures of the chairperson and secretary of the authority may be imprinted thereon in lieu […]
§ 32-10-109. Covenant With Holders as to Tax-Exempt Status of Authority Property and Bonds
It is found, determined, and declared that the creation of the authority and the carrying out of its corporate purpose are in all respects for the benefit of the people of this state and that the authority is an institution of purely public charity and will be performing an essential governmental function in the exercise […]
§ 32-10-94. Bonds as Negotiable Instruments; Tax Exemption
All revenue bonds issued under this article shall have and are declared to have all the qualities and incidents of negotiable instruments under the negotiable instruments law of the state. Such bonds, their transfer, and the income therefrom shall be exempt from all taxation in this state. History. Ga. L. 1953, Jan.-Feb. Sess., p. 302, […]
§ 32-10-95. Utilization of Bond Proceeds; Procedure in Cases Where Proceeds Are Less Than or Greater Than Cost of Project or Combined Projects
The proceeds of the bonds shall be used solely for the payment of the cost of the project or combined projects and shall be disbursed upon requisition or order of the chairman of the authority or its duly bonded agents under such restrictions, if any, as the resolution authorizing the issuance of the bonds or […]
§ 32-10-96. Issuance of Interim Receipts, Interim Certificates, and Temporary Bonds
Prior to the preparation of definitive bonds, the authority may, under like restrictions, issue interim receipts, interim certificates, or temporary bonds, with or without coupons exchangeable for definitive bonds upon the issuance of the latter. History. Ga. L. 1953, Jan.-Feb. Sess., p. 302, § 18; Code 1933, § 95A-1255, enacted by Ga. L. 1973, p. […]
§ 32-10-69. Conveyance of Real Property to Authority; Power to Acquire and Expend Funds for Property Interests
The Governor is authorized and empowered to convey to the authority, on behalf of the state, any real property or interest therein or any rights of way owned by the state, including property or rights of way acquired in the name of the department or board, which is used at the time or may, upon […]
§ 32-10-70. Transfer of Real and Personal Property to Authority by Public Bodies and Officers
All counties, municipalities, and other political subdivisions of the state and all public agencies and officers of the state, notwithstanding any contrary provisions of the law, are authorized and empowered to lease, lend, grant, or convey to the authority, upon its request and upon such terms and conditions as the authority and the proper officials […]
§ 32-10-71. Acquisition, Maintenance, and Operation of Tollway Projects; Collection of Parking Fees for Public Beaches
The authority is authorized and empowered to acquire, maintain, repair, improve, and operate a tollway project whose status at the time of acquisition is a toll facility or which was operated as a toll facility at some point in its existence. For the purpose of earning sufficient revenue to make possible the maintenance, repair, and […]
§ 32-10-72. Authority Fund for Excess Toll and Other Revenue
All revenue in excess of all obligations of the authority of any nature, together with all unused receipts and gifts of every kind and nature whatsoever, shall be and become the authority fund. The authority, in its discretion, is charged with the duty of pledging, utilizing, or expending the authority fund for the following purposes: […]
§ 32-10-73. Designation of Moneys Received Pursuant to Article as Trust Funds
All moneys received pursuant to the authority of this article, whether as proceeds from the sale of revenue bonds or as revenues, tolls, and earnings, shall be deemed to be trust funds to be held and applied solely as provided in this article. The bondholders paying or entitled to receive the benefits of such bonds […]