§ 32-10-133. Annual Report
Following the close of each state fiscal year, the bank shall submit an annual report of its activities for the preceding year to the Governor, the Lieutenant Governor, and the Speaker of the House of Representatives and make such report available to the General Assembly. The bank also shall submit an annual report to the […]
§ 32-10-120. Short Title
This part shall be known and may be cited as the “Georgia Transportation Infrastructure Bank Act.” History. Code 1981, § 32-10-120 , enacted by Ga. L. 2008, p. 73, § 2/HB 1019.
§ 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 […]
§ 32-10-126. Earnings; Establishment of Accounts and Subaccounts; Commingling of Funds
Earnings on balances in the federal accounts must be credited and invested according to federal law. Earnings on state and local accounts must be credited to the state and local roadway account or state and local nonroadway account that generates the earnings. The bank may establish accounts and subaccounts within the state and local accounts […]
§ 32-10-127. Loans and Other Financial Assistance; Determination of Eligible Projects
The bank may provide loans and other financial assistance to a government unit to pay for all or part of the eligible costs of a qualified project. The term of the loan or other financial assistance shall not exceed the useful life of the project. The bank may require the government unit to enter into […]
§ 32-10-128. Authority of Qualified Borrowers
Qualified borrowers are authorized to obtain loans or other financial assistance from the bank through financing agreements. Qualified borrowers entering into financing agreements and issuing loan obligations to the bank may perform any acts, take any action, adopt any proceedings, and make and carry out any contracts or agreements with the bank as may be […]