§ 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 […]
§ 32-10-103. 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 […]
§ 32-10-90.1. Garvee Bond Provisions
As used in this Code section, the term “grant anticipation revenue vehicle” or “garvee bond” means any bond issued by the authority which is an eligible debt financing instrument within the scope of 23 U.S.C. Section 122 or which is otherwise to be repaid or reimbursed in whole or in part, directly or indirectly, from […]
§ 32-10-106. Protection of Interests and Rights of Bondholders
While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of such bonds. History. Ga. L. 1953, Jan.-Feb. Sess., […]