---
title: O.C.G.A. § 12-3-263. Revenue bonds — Payment of proceeds to trustee.
collection: code
id: 12-3-263
cite_as: O.C.G.A. § 12-3-263 (2025)
canonical_url: https://georgiacommons.org/code/12-3-263
md_url: https://georgiacommons.org/code/12-3-263.md
text_url: https://georgiacommons.org/code/12-3-263/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t12-(v10)-2021-pdf.pdf?sfvrsn=67595359_0#page=190
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.
up: https://georgiacommons.org/code/12-3.md
previous: https://georgiacommons.org/code/12-3-262.md
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: CONSERVATION AND NATURAL RESOURCES / PARKS, HISTORIC AREAS, MEMORIALS, AND RECREATION / PUBLIC AUTHORITIES / JEKYLL ISLAND—STATE PARK AUTHORITY
---

# O.C.G.A. § 12-3-263. Revenue bonds — Payment of proceeds to trustee.

The authority shall, in the resolution providing for issuance of revenue bonds or in the trust indenture, provide for the payment of the proceeds of the sale of the bonds to any officer, person, agency, bank, or trust company. The recipient so designated by the authority shall act as trustee of such funds and shall hold and apply the same to the purposes enumerated in this part, subject to such regulations as this part and such resolution or trust indenture may provide.

## History

Ga. L. 1950, p. 152, § 20; Ga. L. 1960, p. 89, § 1.