SB612: SB612 City of Cochran Public Facilities Authority; create

This bill establishes a new public entity called the City of Cochran Public Facilities Authority, run by seven members who also sit on Cochran's city government. The authority is legally separate from the city and state, but is considered a public instrumentality of Georgia, and its job is to acquire, build, equip, and run projects like buildings, utilities, and infrastructure that the city needs for its government functions. To pay for these projects, the authority can issue revenue bonds, which are repaid using rents, fees, and other revenue the authority collects, not through city or state taxes. The bill spells out how those bonds are issued, secured, and validated in court, and makes clear that neither the City of Cochran nor the State of Georgia owes any debt because of the authority's borrowing. The authority is exempt from most property taxes on projects it owns, has legal immunity similar to a county government, and if it is ever dissolved, its remaining property goes to the City of Cochran.

• Creates the City of Cochran Public Facilities Authority as a separate public corporate body that can acquire, build, and operate buildings and facilities for the city.
• Sets up a seven-member board drawn from Cochran's city government to run the authority, with a chairperson, vice chairperson, and appointed secretary-treasurer.
• Authorizes the authority to issue revenue bonds to pay for projects, repaid only from rents, fees, and other revenue, not from city or state taxes.
• States clearly that no debt of the City of Cochran or the State of Georgia is created by the authority's borrowing or contracts.
• Exempts the authority's bonds and most of its property from state taxation, and gives it the same legal immunity from lawsuits over torts and negligence as a Georgia county.
• Requires that if the authority is ever dissolved, its remaining property and assets transfer to the City of Cochran.

The bill directly affects the City of Cochran's government, its future authority board members, companies or agents that contract with or lend to the authority, bondholders who buy its revenue bonds, and residents of Cochran who use the public facilities and services the authority builds and operates.

By letting Cochran finance public buildings and infrastructure through a separate authority using bonds tied to project revenue rather than taxes, the city gains a tool to fund projects without directly borrowing against its own credit or the state's, potentially speeding up or enabling construction of facilities residents use.

• Section 2 creates the authority as a distinct public corporation and instrumentality of the state, based in the City of Cochran.
• Section 3 sets membership at seven people who also serve on Cochran's governing authority, with terms tied to their city offices and a four-member quorum.
• Section 5 grants broad powers, including acquiring property, entering contracts and leases, borrowing money, and issuing revenue bonds.
• Section 6 states that revenue bonds issued under the Act do not create a debt or pledge of credit for the City of Cochran or the State of Georgia.
• Section 9 sets venue for lawsuits against the authority or over bond validation in the Superior Court of Bleckley County.
• Section 14 exempts the authority from most taxes on its property and income, except sales and use tax.
• Section 15 gives the authority and its employees the same immunity from tort and negligence claims as a Georgia county.
• Section 20 requires that if the authority dissolves after paying off its bonds, its remaining property goes to the City of Cochran.

1. 2026-05-11Effective Date 2026-05-11
2. 2026-05-11Act 618
3. 2026-05-11Senate Date Signed by Governor (Senate)
4. 2026-04-10Senate Sent to Governor (Senate)
5. 2026-03-20House Passed/Adopted (House)
6. 2026-03-20House Third Readers (House)
7. 2026-03-20House Committee Favorably Reported (House)
8. 2026-03-10House Second Readers (House)

• Larry Walker (R, SD-020)Primary sponsor
• Danny Mathis (R, HD-133)

1. PassedSenate voteMarch 6, 2026

   49 yea, 0 nay (3 not voting, 3 absent)

   Local Consent Calendar: Senate Vote #639

2. PassedHouse voteMarch 20, 2026

   153 yea, 0 nay (14 not voting, 9 absent)

   Local Calendar : House Vote #734

• local government authorities
• municipal bonds
• City of Cochran
• public infrastructure financing
• Bleckley County