---
title: SB 612. City of Cochran Public Facilities Authority; create
collection: bills
id: 2025-2026/sb612
cite_as: SB 612, 2025-2026 Regular Session (Ga.)
canonical_url: https://georgiacommons.org/bills/2025-2026/sb612
md_url: https://georgiacommons.org/bills/2025-2026/sb612.md
text_url: https://georgiacommons.org/bills/2025-2026/sb612/text
source_url: https://www.legis.ga.gov/legislation/73765
date: 2026-05-11
status: passed
corpus_version: bills-2026-09-13
license: Public record of the Georgia General Assembly, via LegiScan; see about.md
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/bills/2025-2026.md
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next: https://georgiacommons.org/bills/2025-2026/sb613.md
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omitted: votes and history
omitted_chars: 891
omitted_url: https://georgiacommons.org/bills/2025-2026/sb612.md?full=1
bill_number: SB 612
session: 2025-2026 Regular Session
session_slug: 2025-2026
chamber: Senate
bill_type: bill
status_date: 2026-05-11
last_action: Effective Date 2026-05-11
sponsors:
  - Larry Walker
  - Danny Mathis
text_version: Enrolled
has_text: true
legiscan_url: https://legiscan.com/GA/bill/SB612/2025
upstream_id: 2127940
summaries_model: claude-sonnet-5
topic_tags:
  - local government authority
  - municipal bonds
  - City of Cochran
  - public infrastructure financing
---

# SB 612. City of Cochran Public Facilities Authority; create

## Text

Senate Bill 612
By: Senator Walker III of the 20th
AS PASSED
A BILL TO BE ENTITLED
AN ACT
To create the City of Cochran Public Facilities Authority; to provide that the authority is a
body corporate and politic and an instrumentality of the State of Georgia; to authorize the
authority to acquire, construct, equip, maintain, and operate certain projects, including
buildings and facilities for use by the City of Cochran for its governmental, proprietary, and
administrative functions; to provide for members of the authority and their terms,
organization, and reimbursement; to provide for vacancies; to provide for definitions; to
confer powers and impose duties on the authority; to provide for limitations to the authority;
to authorize the authority to enter into contracts and leases pertaining to uses of such
facilities, which contracts and leases may obligate the lessees to make payment for the use
of the facilities for the term thereof and to pledge for that purpose money derived from
taxation; to provide that no debt of the City of Cochran or the State of Georgia shall be
incurred by the exercise of any of the powers granted; to authorize the issuance of revenue
bonds of the authority payable from the revenues, rents, and earnings and other functions of
the authority; to authorize the collecting and pledging of such revenues, rents, and earnings
for the payment of such bonds; to authorize the adoption of resolutions and the execution of
trust agreements and indentures to secure the payment of such bonds and to define the rights
of the holders of such bonds; to provide for a sinking fund; to make the bonds of the
authority exempt from taxation; to authorize the issuance of refunding bonds; to provide for
the validation of such bonds and to fix the venue for jurisdiction of actions relating to any
provision of this Act; to provide for immunity and exemption from liability for torts and
negligence; to provide that the property of the authority shall not be subject to levy and sale;
to provide that certain moneys are trust funds; to provide that this Act shall be liberally
construed; to define the scope of the authority's operation; to provide for disposition of
property upon dissolution of the authority; to provide for severability; to provide for a short
title; to provide for related matters; to repeal conflicting laws; and for other purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION 1.
Short title.
This Act shall be known and may be cited as the "City of Cochran Public Facilities Authority
Act."
SECTION 2.
City of Cochran Public Facilities Authority.
There is created a public body corporate and politic to be known as the City of Cochran
Public Facilities Authority, which shall be an instrumentality and a public corporation of the
State of Georgia, the purpose of which shall be to acquire, construct, equip, maintain, and
operate certain projects for use by the City of Cochran for its governmental, proprietary,
public, and administrative functions. The authority shall not be a state institution or a
department or agency of the state, but shall be an instrumentality of the state, a mere creation
of the state, being a distinct corporate entity and exempt from the provisions of Article 2 of
Chapter 17 of Title 50 of the O.C.G.A., the "Georgia State Financing and Investment
Commission Act." The authority shall have its principal office in the City of Cochran, and
its legal situs or residence for the purposes of this Act shall be the City of Cochran.
SECTION 3.
Membership.
The authority shall consist of seven members who shall be eligible to succeed themselves and
who shall also serve on the governing authority of the City of Cochran. Each member of the
authority shall serve for a term of office concurrent with such person's term of office as a
member of said governing authority and until the appointment and qualification of such
person's successor. Vacancies on the authority shall be filled by said governing authority for
the remainder of the unexpired term and until the appointment and qualification of a
successor. Immediately after their appointment, the members of the authority shall enter
upon their duties. The authority shall elect one of its members as chairperson and one as vice
chairperson. The secretary-treasurer of the authority shall be appointed by the authority and
need not be a member of the authority. Four members of the authority shall constitute a
quorum and no vacancy on the authority shall impair the right of the quorum to exercise all
the rights and perform all the duties of the authority and, in every instance, a majority vote
of a quorum shall authorize any legal act of the authority, including all things necessary to
authorize and issue revenue bonds. The members of the authority shall receive no
compensation for their services but may be reimbursed by the authority for the actual
expenses necessarily incurred in the performance of their duties. The authority shall make
rules and regulations for its own government and shall have perpetual existence.
SECTION 4.
Definitions.
As used in this Act, the following words and terms shall have the following meanings unless
a different meaning clearly appears from the context:
(1) "Authority" shall mean the City of Cochran Public Facilities Authority created by this
Act.
(2) "Cost of project" shall include the cost of lands, buildings, improvements, machinery,
equipment, property, easements, rights, franchises, material, labor, services acquired or
contracted for, plans and specification, and financing charges; construction costs; interest
prior to and during construction; architectural, accounting, engineering, inspection,
administrative, fiscal, and legal expenses; expenses incident to determining the feasibility
or practicability of the project; and expenses incident to the acquiring, constructing,
equipping, and operating of any project or any part thereof and to the placing of the same
in operation.
(3) "Project" shall mean and include real and personal property acquired or held by the
authority, including all land, buildings, structures, sanitary and surface water sewers,
storm water management projects, historic preservation projects, utilities, including
natural gas distribution, telecommunications, fiber, cable, and broadband services, and
other public property determined by the authority to be desirable for the efficient
operation of any department, board, office, commission, or agency of the City of
Cochran, or of the State of Georgia, in the performance of its governmental, proprietary,
and administrative functions.
(4) "Revenue bonds" shall mean revenue bonds issued under the provisions of Article 3
of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond Law," or under the
provisions of this Act. The obligations authorized under this Act may be issued by the
authority in the manner authorized under the Revenue Bond Law.
SECTION 5.
Powers.
The authority shall have all the powers necessary or convenient to carry out and effectuate
the purposes and provisions of this Act, including, but without limiting the generality of the
foregoing, the power:
(1) To sue and be sued;
(2) To adopt and alter a corporate seal;
(3) To make and execute with public and private persons and corporations contracts,
trusts, leases, rental agreements, and other instruments relating to its projects and in
furtherance of the purposes of the authority, including contracts for the constructing,
renting, and leasing of its projects for the use of any county or municipality in this state;
(4) To acquire in its own name by purchase on such terms and conditions and in such
manner as it may deem proper or by gift, grant, lease, or otherwise, real and personal
property necessary or convenient for its corporate purposes, or rights and easements
therein, and to use the same so long as its corporate existence shall continue and to lease
or make contracts with respect to the use of or disposition of the same in any manner it
deems to the best advantage of the authority. Title to any such property shall be held by
the authority exclusively for the benefit of the public;
(5) To improve, extend, add to, reconstruct, renovate, or remodel any project or part
thereof already acquired;
(6) To pledge or assign any revenues, income, rent, charges, and fees received by the
authority;
(7) To appoint and select agents, engineers, architects, attorneys, fiscal agents,
accountants, and employees and to provide for their compensation and duties;
(8) To construct, reconstruct, acquire, own, alter, repair, remodel, maintain, extend,
improve, operate, manage, and equip projects located on land owned or leased by the
authority;
(9) To receive, accept, and use any contributions, loans, or grants by persons, firms, or
corporations, including the State of Georgia and the United States of America, and any
other contributions;
(10) To pay all or part of the costs of any project from the proceeds of revenue bonds of
the authority or from other lawful sources available to it;
(11) To prescribe rules and regulations for the operation of and to exercise police powers
over the projects managed or operated by the authority;
(12) To accept, receive, and administer gifts, grants, loans and devises of money,
material, and property of any kind, including loans and grants from the State of Georgia
or the United States of America or any agency or instrumentality thereof, upon such
terms and conditions as the State of Georgia or the United States of America or such
agency or instrumentality may impose;
(13) To sell, lease, exchange, transfer, assign, pledge, mortgage, dispose of, grant in
trust, or grant options for any real or personal property or interest therein in furtherance
of the purposes of the authority;
(14) As security for repayment of authority obligations, to pledge, mortgage, convey,
assign, hypothecate, or otherwise encumber any property, real or personal, of such
authority and to execute any trust agreement, indenture, or security agreement containing
any provisions not in conflict with law, which trust agreement, indenture, or security
agreement may provide for foreclosure or forced sale of any property of the authority
upon default, on such obligations, either in payment of principal or interest or in the
performance of any term or condition, as are contained in such agreement or indenture;
(15) To borrow money for any of its corporate purposes, to issue revenue bonds payable
solely from funds pledged for that purpose, and to provide for the payment of the same
and for the rights of the holders thereof;
(16) To exercise all powers usually possessed by private corporations performing similar
functions which are not in conflict with the Constitution and laws of this state; and
(17) Pursuant to proper resolution of the authority, to issue revenue bonds payable from
the rents and revenues of the authority and its projects, which bonds may be issued in
either fully negotiable coupon form, in which event they shall have all the qualities and
incidents of negotiable instruments under the laws of the State of Georgia, or which
bonds may be issued in whole or in part in nonnegotiable fully registered form without
coupons, payable to a designated payee or to the registered assigns of the payee with such
conversion privileges as the authority may provide, for the purpose of paying all or any
part of the cost associated with the projects authorized by the authority, including the cost
of constructing, reconstructing, equipping, extending, adding to, or improving such
projects or for the purpose of refunding, as provided in this Act, any such bonds of the
authority theretofore issued. If the proceeds of the bonds of any issue shall exceed the
amount required for the purpose for which such bonds were issued, the surplus shall be
paid into the fund provided for the payment of principal and interest on such bonds. All
such revenue bonds shall be issued and validated under and in accordance with the
procedures of Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond
Law," and in accordance with all terms and provisions thereof not in conflict with this
Act, and in accordance with Code Section 50-17-1 of the O.C.G.A., relating to use of
facsimile signatures on public securities, and, as security for the payment of any revenue
bonds so authorized, any rents and revenue of the authority may be pledged and assigned.
Such bonds shall be declared to be issued for an essential public and governmental
purpose, and such bonds and all income therefrom shall be exempt from all taxation
within the State of Georgia. For the purpose of the exemption from taxation of such
bonds and the income therefrom, the authority shall be deemed to be a political
subdivision of the State of Georgia.
SECTION 6.
Credit not pledged and debt not created by bonds.
Revenue bonds issued under the provisions of this Act shall not constitute a debt or a pledge
of the faith and credit of the State of Georgia or City of Cochran, but such bonds shall be
payable from the rentals, revenue, earnings, and funds of the authority as provided in the
resolution or trust agreement or indenture authorizing the issuance and securing the payment
of such bonds. The issuance of such bonds shall not directly, indirectly, or contingently
obligate the state or said municipality to levy or pledge any form of taxation for the payment
thereof. No holder of any bond or receiver or trustee in connection therewith shall have the
right to enforce the payment thereof against any property of the state or of said municipality,
nor shall any such bond constitute a charge, lien, or encumbrance, legal or equitable, upon
any such property. All such bonds shall contain on their face a recital setting forth
substantially the foregoing provisions of this section.
SECTION 7.
Trust agreement.
In the discretion of the authority, any issue of revenue bonds may be secured by an
agreement or indenture made by the authority with a corporate trustee, which may be any
trust company or bank having the powers of a trust company within or without the State of
Georgia. Such trust agreement or indenture may pledge and assign rents, fees, charges,
revenues, and earnings to be received by the authority. The resolution providing for the
issuance of revenue bonds and such trust agreement or indenture may contain provisions for
protecting and enforcing the rights and remedies of the bondholders, including the right of
appointment of a receiver upon default of the payment of any principal or interest obligation
and the right of any receiver or trustee to enforce collection of any rents, fees, charges, or
revenues for use of the project or projects necessary to pay all costs of operation and all
reserves provided for, all principal and interest on all bonds of the issue, all costs of
collection, and all other costs reasonably necessary to accomplish the collection of such sums
in the event of any default of the authority. Such resolution and such trust agreement or
indenture may include covenants setting forth the duties of the authority in relation to the
acquisition of property for and the construction of the project and to the custody,
safeguarding, and application of all funds and covenants providing for the operation,
maintenance, repair, and insurance of the project or projects and may contain provisions
concerning the conditions, if any, upon which additional revenue bonds may be issued. Such
trust agreement or indenture may set forth the rights and remedies of the bondholders and of
the trustee and may restrict the individual right of action of bondholders as is customary in
securing bonds and debentures of corporations and may contain such other provisions as the
authority may deem reasonable and proper for the security of the bondholders. All expenses
incurred in carrying out such trust may be treated as a part of the cost of maintenance,
operation, and repair of the project affected by such trust.
SECTION 8.
Refunding bonds.
The authority is authorized to provide by resolution for the issuance of revenue bonds of the
authority for the purpose of calling, refunding, or refinancing any revenue bonds issued
under the provisions of this Act and then outstanding and to include in the amount of such
refunding bonds all interest and any call premiums that may be required for the redemption
and refunding of such outstanding bonds.
SECTION 9.
Venue of actions, jurisdiction.
Any action to protect or enforce any rights under the provisions of this Act or any action
against the authority brought in the courts of the State of Georgia shall be brought in the
Superior Court of Bleckley County, Georgia, and any action pertaining to validation of any
bonds issued under the provisions of this Act shall be brought in said court, which shall have
exclusive, original jurisdiction of such actions.
SECTION 10.
Revenue bond validation.
The petition for validation of all revenue bonds of the authority shall be brought against the
authority, and any contracting party whose obligation is pledged as security for the payment
of the bonds sought to be validated, as defendants, and the defendants shall be required to
show cause, if any exists, why such contract or contracts and the terms and conditions thereof
shall not be adjudicated to be in all respects valid and binding upon such contracting parties.
It shall be incumbent upon such defendants to defend against adjudication of the validity and
binding effect of such contract or contracts or be forever bound thereby. Notice of such
proceedings shall be included in the notice of the validation hearing required to be issued and
published by the clerk of the Superior Court of Bleckley County in which court such
validation proceedings shall be initiated.
SECTION 11.
Interest of bondholders protected.
While any of the bonds issued by the authority remain outstanding, the powers, duties, or
existence of the authority or of its officers, employees, or agents shall not be diminished,
impaired, or affected in any manner that will affect adversely the interest and rights of the
holders of such bonds. The provisions of this Act shall be for the benefit of the authority and
the holders of any such bonds and, upon the issuance of bonds under the provisions of this
Act, shall constitute a contract with the holders of such bonds.
SECTION 12.
Revenues, earnings, rents, and charges; use.
(a) For the purpose of earning sufficient revenue to make possible the financing of the
construction of the project or projects of the authority with revenue bonds, the authority is
authorized and empowered to fix, revise, and collect rents, fees, and charges on each project
which it shall cause to be acquired or constructed. Such rents, fees, or charges to be paid for
the use of such project or projects shall be so fixed and adjusted so as to provide a fund
sufficient with other revenue, if any, of such project or projects or of the authority:
(1) To pay the cost of operating, maintaining, and repairing the project or projects,
including reserves for insurance and extraordinary repairs and other reserves required by
the resolution or trust agreement or indenture pertaining to such bonds and the issuance
thereof, unless such cost shall be otherwise provided for;
(2) To pay the principal of and interest on such revenue bonds as the same shall become
due, including call premiums, if any, the proceeds of which shall have been or shall be
used to pay the cost of such project or projects;
(3) To comply with any sinking fund requirements contained in the resolution or trust
agreement or indenture pertaining to the issuance of and security for such bonds;
(4) To perform fully all provisions of such resolution or trust agreement or indenture
relating to the issuance of or security for such bonds to the payment of which such rent
is pledged;
(5) To accumulate any excess income which may be required by the purchasers of such
bonds or may be dictated by the requirements of such resolution or trust agreement or
indenture, or which may be required for achieving ready marketability of and low interest
rates on such bonds; and
(6) To pay any expenses in connection with such bond issue or of such project,
including, but not limited to, trustees', attorney's, and fiscal agents' fees.
(b) Such rent shall be payable at such intervals as may be agreed upon and set forth in the
rental contract or lease providing therefor, and any such contract or lease may provide for the
commencement of rent payments to the authority prior to the completion of the project by
the authority and may provide for the payment of rent during such times as such project may
be partially or wholly untenantable.
(c) Such rental contract or lease may obligate the tenants or lessees to operate, maintain, and
keep in good repair, including complete reconstruction, if necessary, the rented or leased
premises and projects, regardless of the cause of the necessity of such maintenance, repair,
or reconstruction.
(d) Such rental contract or lease may obligate the tenants or lessees to indemnify and save
harmless the authority from any and all damage to persons and property occurring on or by
reason of the leased property or improvements thereon and to undertake, at the expense of
the tenants or lessees, the defense of any action brought against the authority by reason of
injury or damages to persons or property occurring on or by reason of the leased premises.
(e) In the event of any failure or refusal on the part of the tenants or lessees to perform
punctually any covenant or obligation contained in any such rental contract or lease, the
authority may enforce performance by any legal or equitable process against the tenants or
lessees.
(f) The authority shall be permitted to assign any rent payable to it, pursuant to such rental
contract or lease, to a trustee or paying agent as may be required by the terms of the
resolution or trust agreement or indenture relating to the issuance of and security for such
bonds.
(g) The use and disposition of the authority's revenue shall be subject to the provisions of
the resolution authorizing the issuance of such bonds or of the trust agreement or indenture,
if any, securing the same.
SECTION 13.
Sinking fund.
The revenue, rents, and earnings derived from any particular project or projects and any and
all revenue, rents, and earnings received by the authority, regardless of whether such
revenue, rents, and earnings were produced by a particular project for which bonds have been
issued, unless otherwise pledged, may be pledged by the authority to payment of the
principal of and interest on revenue bonds of the authority as may be provided in any
resolution authorizing the issuance of such bonds or in any trust instrument pertaining to such
bonds, and such funds so pledged, from whatever source received, may include funds
received from one or more or all sources and may be set aside at regular intervals into
sinking funds for which provision may be made in any such resolution or trust instrument
and which may be pledged to and charged with the payment of the interest upon such
revenue bonds as such interest shall become due, the principal of the bonds as the same shall
mature, the necessary charges of any trustee or paying agent for paying such principal and
interest, and any premium upon bonds retired by call or purchase, and the use and disposition
of any sinking fund may be subject to such regulation as may be provided for in the
resolution authorizing the issuance of the bonds or in the trust instrument securing the
payment of the same.
SECTION 14.
Taxation status.
The exercise of the powers conferred upon the authority under this Act shall constitute an
essential governmental function for a public purpose, and to the maximum extent permitted
by general law, the authority shall be required to pay no taxes or assessments upon any of the
property acquired by it or under its jurisdiction, control, possession, or supervision or upon
its activities in the operation and maintenance of property acquired by it or of buildings
erected or acquired by it or any fees, rents, or other charges for the use of such property or
buildings or other income received by the authority. This section shall not include an
exemption from sales and use tax on property purchased by or for the use of the authority.
SECTION 15.
Immunity from tort actions.
The authority shall have the same immunity and exemption from liability for torts and
negligence as a Georgia county, and the officers, agents, and employees of the authority,
when in performance of work of the authority, shall have the same immunity and exemption
from liability for torts and negligence as officers, agents, and employees of a Georgia county.
The authority may be sued the same as private corporations on any contractual obligation of
the authority.
SECTION 16.
Property not subject to levy and sale.
The property of the authority shall not be subject to levy and sale under legal process.
SECTION 17.
Trust funds.
All funds received pursuant to the authority of Section 12 of this Act, whether as proceeds
from the sale of revenue bonds or as revenue, rents, fees, charges, or other earnings or as
grants, gifts, or other contributions, shall be deemed to be trust funds to be held and applied
by the authority, solely as provided in this Act. The bondholders entitled to receive the
benefits of such funds shall have a lien on all such funds until the same are applied as
provided for in any such resolution or trust instrument of the authority.
SECTION 18.
Construction.
This Act and any other law enacted with reference to the authority shall be liberally
construed for the accomplishment of the purposes of the authority.
SECTION 19.
Scope of operations.
The projects of the authority's operation shall be located in the territory embraced within the
jurisdictional limits of the City of Cochran as the same now or may hereafter exist.
SECTION 20.
Conveyance of property upon dissolution.
Should the authority for any reason be dissolved after full payment of all bonded
indebtedness incurred under this Act, both as to principal and interest, title to all property of
any kind and nature, real and personal, held by the authority at the time of such dissolution
shall be conveyed to the City of Cochran, or title to any such property may be conveyed prior
to such dissolution in accordance with provisions which may be made therefor in any
resolution or trust instrument relating to such property, subject to any liens, leases, or other
encumbrances outstanding against or in respect to said property at the time of such
conveyance.
SECTION 21.
Severability; effect of partial invalidity of Act.
Should any sentence, clause, phrase, or part of this Act be declared for any reason to be
unconstitutional or invalid, the same shall not affect such remainder of this Act or any part
hereof, other than the part so held to be invalid, but the remaining provisions of this Act shall
remain in full force and effect, and it is the express intention of this Act to enact each
provision of this Act independently of any other provision hereof.
SECTION 22.
General repealer.
All laws and parts of laws in conflict with this Act are repealed.

## Summaries written by Georgia Commons

The following was written by claude-sonnet-5 from the text above and is not part of the bill. Quote the text, not the summary.

A Senate bill would create the City of Cochran Public Facilities Authority, a state-chartered entity that can build and finance public buildings for the city using revenue bonds instead of city or state debt.

### Plain-language summary

This bill sets up a new public body called the City of Cochran Public Facilities Authority, a legally separate but state-created entity meant to acquire, build, and run facilities the City of Cochran uses for its government operations, such as buildings, sewers, and utility projects. The authority would be run by seven members who also sit on the Cochran city council, serving matching terms.
To pay for projects, the authority can borrow money by issuing revenue bonds (debt repaid from project income, not tax dollars), lease facilities back to the city, and collect rent to cover the bonds. The bill makes clear that this borrowing does not count as debt of the City of Cochran or the State of Georgia, and bondholders cannot go after city or state property if the authority defaults. The authority is exempt from most local and state taxes, has legal immunity similar to a Georgia county, and any lawsuits involving it must be filed in Bleckley County Superior Court. If the authority is ever dissolved, its remaining property would go to the City of Cochran.

### What it does

- Creates the City of Cochran Public Facilities Authority as a separate public corporation that can acquire, build, and operate buildings and infrastructure for the city.
- Authorizes the authority to issue revenue bonds to pay for construction, with repayment coming only from project rents and revenue, not local or state taxes.
- Sets up a seven-member board drawn from the Cochran city council, with terms matching their council terms and no pay beyond expense reimbursement.
- Exempts the authority's bonds and most of its property and activities from state and local taxation, though not from sales and use tax.
- Grants the authority the same legal immunity from lawsuits over negligence that Georgia counties have.
- Requires that if the authority is dissolved, all its remaining property transfers to the City of Cochran.

### Who it affects

City of Cochran residents and taxpayers, the Cochran city council members who would also serve on the authority board, potential bondholders and lenders who buy the authority's revenue bonds, and companies or agencies that contract with the authority to build or lease facilities.

### Why it matters

The bill gives Cochran a new financing tool to build public facilities like government buildings or utility infrastructure by borrowing against project revenue rather than raising local taxes or adding to the city's debt, while shielding the city and state from liability if the bonds are not repaid.

### Key provisions

- Section 2 establishes the authority as a public corporation and instrumentality of the state, based in Cochran, separate from the state's usual financing commission oversight.
- Section 3 sets board composition at seven members who also serve on the Cochran governing authority, with a four-member quorum needed to act.
- Section 5 lists the authority's powers, including acquiring property, issuing revenue bonds, and leasing projects, largely under Georgia's Revenue Bond Law.
- Section 6 states revenue bonds do not create debt or pledge the credit of the City of Cochran or the State of Georgia and cannot be enforced against city or state property.
- Section 9 sets Bleckley County Superior Court as the exclusive venue for lawsuits and bond validation actions involving the authority.
- Section 14 exempts the authority from most taxes and assessments on its property and income, except sales and use tax.
- Section 15 gives the authority and its employees the same tort immunity as a Georgia county.
- Section 20 directs that upon dissolution, after all bonds are paid off, the authority's property passes to the City of Cochran.

## Status

- Status: Passed (2026-05-11)
- Last action: Effective Date 2026-05-11 (2026-05-11)
- Sponsors: Larry Walker, Danny Mathis
- Official page: https://www.legis.ga.gov/legislation/73765

> The history, votes, and amendments (891 characters) are at https://georgiacommons.org/bills/2025-2026/sb612.md?full=1