§ 46-9-270. Short Title
This article shall be known and may be cited as the “Georgia Rail Passenger Authority Law.” History. Code 1981, § 46-9-270 , enacted by Ga. L. 1985, p. 1283, § 1.
§ 46-9-271. Legislative Purpose
There is created the Georgia Rail Passenger Authority for the purpose of construction, financing, operation, and development of rail passenger service and other public transportation projects within and without the State of Georgia. History. Code 1981, § 46-9-271 , enacted by Ga. L. 1985, p. 1283, § 1.
§ 46-9-272. Definitions
As used in this article, the term: “Authority” means the public body corporate and politic created pursuant to this article. “Cost of the project” or “cost of any project” means and shall include: All costs of acquisition, by purchase or otherwise, construction, assembly, installation, modification, renovation, or rehabilitation incurred in connection with any project or […]
§ 46-9-273. Powers of Authority Generally
The authority shall have all of the powers necessary, proper, or convenient to carry out and effectuate the purposes and provisions of this article. The powers enumerated in this Code section are cumulative of and in addition to each other and other powers granted elsewhere in this article; and no such power limits or restricts […]
§ 46-9-274. Membership of Authority; Filling of Vacancies; Disclosure of Pecuniary Interests; Election of Officers; Expense Allowance and Travel Costs
The authority shall be composed of members appointed by the Governor. One member shall be appointed from and shall be a resident of each of the congressional districts and two members shall be appointed from the state at large. All members shall be appointed for terms of four years and until their successors are appointed […]
§ 46-9-275. Issuance of Revenue Bonds, Notes, or Other Obligations; Refunding Bonds
Revenue bonds, notes, or other obligations issued by an authority shall be paid solely from the property, including, but not limited to, real property, fixtures, personal property, revenues, or other funds pledged, mortgaged, conveyed, assigned, hypothecated, or otherwise encumbered to secure or to pay such bonds, notes, or other obligations. All revenue bonds, notes, and […]
§ 46-9-276. Authority to Execute Agreements or Instruments; Use of Proceeds From Sale of Bonds and Other Obligations; Issuance of Subsequent Obligations; Bond Anticipation Notes; Validation and Form of Bonds
Subject to the limitations and procedures provided by this Code section, the agreements or instruments executed by the authority may contain such provisions not inconsistent with law as shall be determined by the members of the authority. The proceeds derived from the sale of all bonds, notes, and other obligations issued by an authority shall […]
§ 46-9-277. Public Purpose of Article
The implementation of rail passenger service and public transportation projects within the State of Georgia develops and promotes, for the public good and general welfare, trade, commerce, tourism, industry, and employment opportunities and promotes the general welfare of the state by creating a climate favorable to the location of new industry, trade, and commerce and […]
§ 46-9-278. Liberal Construction to Effect Stated Purpose
The provisions of this article shall be liberally construed to effect its stated purpose. The offer, sale, or issuance of bonds, notes, or other obligations by the authority shall not be subject to regulation under the Georgia laws regulating the sale of securities, as heretofore and hereafter amended. No notice, proceeding, or publication except those […]
§ 46-9-279. Status of Bonds and Other Obligations as Constituting Debt or Obligation of State, County, or Other Political Subdivisions
No bonds, notes, or other obligations of and no indebtedness incurred by the authority shall constitute an indebtedness or obligation of the State of Georgia or any county, municipal corporation, or political subdivision thereof nor shall any act of the authority in any manner constitute or result in the creation of an indebtedness of the […]
§ 46-9-280. Exemption of Authority From Taxes or Assessments
The authority is created for nonprofit and public purposes; and it is found, determined, and declared that the creation of the authority and the carrying out of its corporate purpose is in all respects for the benefit of the people of the state, that the authority is an institution of purely public charity and will […]
§ 46-9-281. Effect of Article on Other Authorities
This article shall not affect any other authority now or hereafter existing under general or local constitutional amendment or general or local law. History. Code 1981, § 46-9-281 , enacted by Ga. L. 1985, p. 1283, § 1.