§ 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. […]
§ 32-10-97. Replacement of Lost or Mutilated Bonds
The authority may also provide for the replacement of any bond which becomes mutilated or which is destroyed or lost. History. Ga. L. 1953, Jan.-Feb. Sess., p. 302, § 19; Code 1933, § 95A-1256, enacted by Ga. L. 1973, p. 947, § 1.
§ 32-10-98. Resolutions for Bond Issuance; Issuance of Bonds of a Single Issue
Resolutions for the issuance of revenue bonds may be adopted without any other proceedings or the happening of any other conditions or things than those proceedings, conditions, and things which are specified or required by this article. In the discretion of the authority, revenue bonds of a single issue may be issued for the purpose […]
§ 32-10-99. Credit of State Not Pledged
Revenue bonds issued under this article shall not be deemed to constitute a debt of the State of Georgia or a pledge of the faith and credit of the state, but such bonds shall be payable from the revenues and funds of the authority as provided for in the resolutions or trust indentures authorizing or […]
§ 32-10-100. Trust Indenture as Security for Bonds
In the discretion of the authority, any issue of such revenue bonds may be secured by a trust indenture by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company, inside or outside of the state. Such trust indenture may pledge or […]
§ 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 […]