§ 50-39-50. “Lease Agreement” Defined; Operation; Execution; Provisions
For the purposes of this Code section, the term “lease agreement” shall mean and include a lease, operating lease rental agreement, usufruct, sale and lease back, or any other lease agreement having a term of not more than 50 years and concerning real, personal, or mixed property, any right, title, or interest therein by and […]
§ 50-39-51. Payment for Costs of a Project; Optional Conditions; Local Government Power to Contract; Fees
The authority may make grants or loans to a local government to pay all or any part of the cost of a project. In the event the local government agrees to accept such grants or loans, the authority may require the local government to issue bonds or revenue bonds as evidence of such grants or […]
§ 50-39-52. Withholding of Funds to Local Government
In the event of a failure of any local government to collect and remit in full all amounts due to the authority and all amounts due to others, which involve the credit or guarantee of the authority or of the state, on the date such amounts are due under the terms of any bond, revenue […]
§ 50-39-53. Grant Programs; Pilot Program Formation; Factors to Be Considered in Selecting Pilot Projects; Procedures; Eligible Projects
As used in this Code section, the term: “Local government authority” and “state” mean the same as under 49 U.S.C. Section 5302. “Public-private project initiative” means a local or regional streetcar project which is proposed and advanced by a cooperative entity or sponsor that involves a combined public and private sector financing and development structure […]
§ 50-39-60. Liberal Construction
This chapter, being for the welfare of this state and its inhabitants, shall be liberally construed to effect the purposes specified in this chapter. History. Code 1981, § 50-39-60 , enacted by Ga. L. 2018, p. 377, § 2-1/HB 930.
§ 50-39-61. Application of Chapter 1 of Title 40
No provision of Chapter 1 of Title 40 shall apply to any bus, other motor vehicle, or rapid rail system of the authority which provides transit services. History. Code 1981, § 50-39-61 , enacted by Ga. L. 2018, p. 377, § 2-1/HB 930.
§ 50-39-32. Revenue Bonds
The authority shall have the power and is authorized at one time or from time to time to provide by one or more authorizing resolutions for the issuance of revenue bonds, but the authority shall not have the power to incur indebtedness under this subsection in excess of the cumulative principal sum of $1 billion, […]
§ 50-39-33. Guaranteed Revenue Bonds; Exemption From Taxation
The authority shall have the power and is authorized to issue guaranteed revenue bonds in a maximum aggregate principal amount not to exceed $1 billion, under the terms and conditions set forth in this chapter, pursuant to the provisions of Article 2 of Chapter 17 of this title, which bonds shall constitute guaranteed revenue debt […]
§ 50-39-34. Bonds as Securities; Investments
The bonds of the authority are made securities in which all public officials and bodies of the state and all counties and municipalities, all insurance companies and associations, and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks, and savings associations, including savings and loan associations, investment companies and other […]
§ 50-39-35. Protection and Assurances to Bond Owners
The State of Georgia does pledge to and agree with the owners of any bonds issued by the authority pursuant to this chapter that the state will not alter or limit the rights vested in the authority to fulfill the terms of any agreement made with or for the benefit of the owners of bonds […]