---
title: O.C.G.A. § 10-9-40. Issuance of bonds authorized; purpose.
collection: code
id: 10-9-40
cite_as: O.C.G.A. § 10-9-40 (2025)
canonical_url: https://georgiacommons.org/code/10-9-40
md_url: https://georgiacommons.org/code/10-9-40.md
text_url: https://georgiacommons.org/code/10-9-40/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t10-(v8)-2024-pdf.pdf?sfvrsn=1992b47e_0#page=1268
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCE AND TRADE / GEO. L. SMITH II GEORGIA WORLD CONGRESS CENTER / REVENUE BONDS
---

# O.C.G.A. § 10-9-40. Issuance of bonds authorized; purpose.

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 article in excess of the principal sum of $500 million but excluding from such limit bonds issued for the purpose of refunding bonds which have been previously issued. The authority shall have the power to issue such revenue bonds and to use the proceeds thereof for the purpose of paying all or part of the costs of the project to the extent but only to the extent the costs are incurred for the following facilities: multipurpose stadiums or coliseums and related athletic fields, courts, or surfaces, and clubhouses and gymnasiums; facilities for the purveying of goods and services within such stadiums or coliseums; parking facilities and parking areas in connection therewith; facilities deemed necessary or convenient within the structure of such stadiums or coliseums; and related lands, buildings, structures, fixtures, equipment, and personalty appurtenant or convenient to such facilities and the extension, addition, or improvement of such facilities, which facilities are to be operated as part of the project, as such facilities shall be designated in the resolution of the board of governors of the authority authorizing the issuance of such bonds.

## History

Code 1981, § 10-9-40, enacted by Ga. L. 1988, p. 556, § 4; Ga. L. 2017, p. 20, § 1/HB 264; Ga. L. 2019, p. 453, § 1/HB 221.