§ 50-17-20. Short Title
This article shall be known and may be cited as the “Georgia State Financing and Investment Commission Act.” History. Ga. L. 1973, p. 750, § 1; Ga. L. 2002, p. 415, § 50.
§ 50-17-21. Definitions
As used in this article, the term: “Commission” means the Georgia State Financing and Investment Commission as defined by Article VII, Section IV, Paragraph VII of the Constitution, consisting of the Governor, the President of the Senate, the Speaker of the House of Representatives, the state auditor, the Attorney General, the state treasurer, and the […]
§ 50-17-22. State Financing and Investment Commission
Responsibilities. Subject to the limitations contained in this article, the commission shall be responsible for the issuance of all public debt incurred hereunder, for the proper application of the proceeds of such debt to the purposes for which it is incurred, for the proper application of an appropriation to the commission for capital outlay […]
§ 50-17-23. General Obligation and Guaranteed Revenue Debts; Sinking and Common Reserve Funds; Appropriations; Investments; Taxation to Pay Debt Service Requirements
General obligation debt. General obligation debt may not be incurred until the General Assembly has enacted legislation stating the purposes, in general or specific terms, for which such issue of debt is to be incurred, specifying the maximum principal amount of the issue, and appropriating an amount at least sufficient to pay the highest […]
§ 50-17-24. Authority to Incur Public Debt; Purposes; Limitations
Authority. The state, through action of the commission, is authorized to incur public debt as provided in this article. Purposes for debt. Public debt without a limit may be incurred to repel invasion, suppress insurrection, and defend the state in time of war. Public debt may be incurred to supply such temporary deficit as […]
§ 50-17-25. Incurring Public Debt by Resolution; Sale of Evidences of Indebtedness; Form of Obligations; Validation of Bonds; Civil Claims and Actions
Authority. The state, through action of the commission, is authorized to incur public debt as hereinafter provided. Resolutions. All actions of the commission shall be taken by resolution. Each resolution adopted in connection with authorizing public debt shall be reduced to writing; and the executive secretary shall maintain a full and correct record of […]
§ 50-17-26. Evidences of Indebtedness Generally; Accrual of Interest; Paying Agent; Executory Contracts; Audits; Legal Services
Authority. The state, through action of the commission, is authorized to incur public debt as hereinafter provided. Registration, prepayment, cancellation, destruction, etc. Registrar. The fiscal officer of the state or his agent shall act as registrar for evidences of indebtedness registrable as to principal or interest or both. No transfer of a registered […]
§ 50-17-27. Application and Investment of Public Debt Proceeds by Commission and by the Environmental Finance Authority
The commission shall be responsible for the proper application of the proceeds of public debt issued under this article to the purposes for which it is incurred; provided, however, that the proceeds from guaranteed revenue obligations shall be paid to the issuer thereof, and the proceeds and the application thereof shall be the responsibility of […]
§ 50-17-28. Bond Security Contracts Prohibited
The state and all institutions, departments, and agencies of the state are prohibited from entering into any contract, except contracts pertaining to guaranteed revenue debt, with any public agency, public corporation, authority, or similar entity if the contract is intended to constitute security for bonds or other obligations issued by any such public agency, public […]
§ 50-17-29. Miscellaneous Pledges, Authorizations, and Exemptions
Full faith and credit. The full faith, credit, and taxing powers of the state are pledged to the payment of all public debt, and the interest thereon, incurred under this article; and all such debt and the interest thereon shall be exempt from taxation. Negotiability. Every evidence of indebtedness issued under this article […]
§ 50-17-30. Liability of Public Officers and Employees
Any public officer or employee and any surety on his official bond or any other person participating in any direct or indirect impairment of any fund established in connection with public debt shall be liable in any action brought by the Attorney General in the name of the state, or by any taxpayer of the […]