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Official Code of Georgia Annotated

Title 32. HIGHWAYS, BRIDGES, AND FERRIES · Chapter 10. PUBLIC AUTHORITIES · Article 1. GEORGIA HIGHWAY AUTHORITY · Part 1. GENERAL PROVISIONS

32-10-10. Payment of rentals by lessees; enforcement of covenants and obligations; assignment of rentals by authority.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    The rentals contracted to be paid by lessees to the authority under leases entered upon pursuant to this article shall constitute obligations of the state for the payment of which the good faith of the state is pledged. Such rentals shall be paid as provided in the lease contracts from funds appropriated for such purposes by the terms of the Constitution of Georgia. It shall be the duty of the Governor and the board to see to the punctual payment of all such rentals. In the event of any failure or refusal on the part of lessees punctually to perform any covenant or obligation contained in any lease entered upon pursuant to this article, the authority may enforce performance by any legal or equitable process against lessees; and consent is given for the institution of any such action.#

  2. (b)

    The authority shall be permitted to assign to a trustee or paying agent any rental due it by the lessees, as may be required by the terms of any trust indenture entered into by the authority.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Ga. L. 1955, p. 124, § 13; Ga. L. 1961, p. 3, § 9; Ga. L. 1967, p. 385, § 11; Code 1933, § 95A-1212, enacted by Ga. L. 1973, p. 947, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t32-(v23a)-2019-pdf.pdf, Volume V23A, 2019 edition, pages 423 to 424; merge action: carried; file SHA-256 04a286a38b4e.