This chapter may be referred to as the “Development Authorities Law.” History. Ga. L. 1963, p. 531, § 1; Ga. L. 1969, p. 137, § 1. Law reviews. For article discussing industrial development bond financing under Georgia development authority law, see 14 Ga. St. B. J. 10 (1977). For article surveying developments in Georgia local […]
No bonds or other obligations of and no indebtedness incurred by any authority shall constitute an indebtedness or obligation of the State of Georgia or of any county, municipal corporation, or political subdivision thereof, nor shall any act of any authority in any manner constitute or result in the creation of an indebtedness of this […]
This chapter shall be liberally construed to effect the purposes hereof, and insofar as this chapter may be inconsistent with the provisions of any other law, including the charter of any municipal corporation, this chapter shall be controlling. The sale or issuance of bonds by any authority shall not be subject to regulation under Chapter […]
Any public corporation, industrial development authority, or payroll authority created prior to March 28, 1969, by legislative Act or constitutional amendment shall not be affected by this chapter but shall be entitled to continue in existence and exercise all powers heretofore or hereafter granted thereto. History. Ga. L. 1969, p. 137, § 12.
The real and personal property of any development authority which was created for a county prior to July 1, 1983, by constitutional amendment and which was dissolved by operation of law pursuant to Article XI, Section I, Paragraph IV(c) of the Constitution shall by operation of law become the property of any development authority subsequently […]
Except as otherwise provided in this Code section, an authority created pursuant to this chapter shall have perpetual existence. If an authority does not have any outstanding unpaid bonds or bond anticipation notes, the authority may be dissolved as provided in this subsection. If the authority was activated for a single county or municipal corporation […]
As used in this chapter, the term: “Authority” means each public corporation created pursuant to this chapter. “Cost of project” includes: All costs of construction, purchase, or other form of acquisition; All costs of real or personal property required for the purposes of such project and of all facilities related thereto, including land and any […]
This chapter is passed pursuant to authority granted the General Assembly by Article IX, Section VI, Paragraph III of the Constitution of this state. Each authority created by this chapter is created for nonprofit and public purposes, and it is found, determined, and declared that the creation of each such authority and the carrying out […]
There is created in and for each county and municipal corporation in the state a public body corporate and politic to be known as the “development authority” of such county or municipal corporation, which shall consist of a board of not less than seven and not more than nine directors to be appointed by resolution […]
The directors shall be taxpayers residing in the county or municipal corporation for which the authority is created, and their successors shall be appointed as provided by the resolution provided for in Code Section 36-62-4. The governing authority of a county or municipality may appoint no more than one member of the governing authority as […]
By proper resolution of the local governing bodies, an authority may be created and activated by: Any two or more municipal corporations; Any two or more counties; One or more municipal corporations and one or more counties; or Any county in this state and any contiguous county in an adjoining state. A joint authority so […]
As used in this Code section, the term “participating counties” means all counties party to a proper joint resolution as set forth in subsection (b) of this Code section. By proper joint resolution of the local governing bodies, an authority, to be known as a regional industrial development authority, may be created and activated by […]
Each authority shall have all of the powers necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, including, but without limiting the generality of the foregoing, the power: To bring and defend actions; To adopt and amend a corporate seal; To make and execute contracts and other instruments necessary […]
No development authority of a county or municipality within the county or joint development authority within the county shall purchase or accept title to any real property located in an adjoining county, which property will be exchanged for certain property belonging to the federal government as authorized by federal law, without the written consent of […]
No project acquired under this chapter shall be operated by an authority or any municipal corporation, county, or other governmental subdivision. Such a project shall be leased or sold to, or managed by, one or more persons, firms, or private corporations. Any disposition of real property by an authority pursuant to paragraph (7) of subsection […]
Subject to the limitations and procedures provided by this Code section, the obligations of any authority evidenced by bonds, bond anticipation notes, trust indentures, deeds to secure obligations, security agreements, or mortgages executed in connection therewith may contain such provisions not inconsistent with law as shall be determined by the board of directors of the […]
The purposes of this chapter are to develop and promote trade, commerce, industry, and employment opportunities for the public good and the general welfare and to promote the general welfare of the state. No bonds or bond anticipation notes, except refunding bonds, shall be issued by an authority under this chapter unless its board of […]
