§ 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., […]
§ 32-10-91. Obtaining of Loans and Issuance and Sale of Notes and Bonds; Sale of Obligations
The authority may authorize by resolution the following: the obtaining of loans; the issuance and sale of notes; and the issuance and sale of bonds. The foregoing obligations may be offered at public or private sale in such manner and for such interest rate and at such price as the authority may determine to be […]
§ 32-10-107. Confirmation and Validation of Bonds
Bonds of the authority shall be confirmed and validated in accordance with Article 3 of Chapter 82 of Title 36, the “Revenue Bond Law.” The petition for validation for conduit bonds issued pursuant to paragraph (8) of Code Section 32-10-63 shall also make any person, firm, corporation, limited liability company, or other type of private […]
§ 32-10-92. Bonds Authorized by Resolution; Specification of Terms; Public or Private Sale
Bonds issued by the authority shall be authorized by resolution of the authority, be in such denominations, bear such date or dates, and mature at such time or times within 40 years from the issuance thereof as the authority determines to be appropriate. Such bonds shall be subject to such terms of redemption, bear interest […]
§ 32-10-108. Transfer of Projects to State Highway System Free From Tolls
Upon payment in full of all bonds and the interest thereon and obligations of every nature whatsoever for the payment of which the revenues of any given project or projects have been pledged, in whole or in part, either originally or subsequently, either primarily or secondarily, directly or indirectly or otherwise, or upon the setting […]
§ 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, […]