Official Code of Georgia Annotated

Title 32. HIGHWAYS, BRIDGES, AND FERRIES · Chapter 10. PUBLIC AUTHORITIES · Article 2. STATE ROAD AND TOLLWAY AUTHORITY · Part 3. TRANSPORTATION INFRASTRUCTURE BANK

32-10-121. Creation; governance; corporate purpose; types of accounts.

Active

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

(a)
There shall be created within the State Road and Tollway Authority an instrumentality of the state to be known as the Georgia Transportation Infrastructure Bank.#
(b)
The bank shall be governed by the board of the State Road and Tollway Authority as provided in this chapter.#
(c)
The corporate purpose of the bank is to assist in financing qualified projects by providing loans and other financial assistance to government units for constructing and improving highway and transportation facilities necessary for public purposes, including economic development. The exercise by the bank of a power conferred in this part is an essential public function.#
(d)
The bank shall establish and maintain at least the four following accounts in the authority fund:#
1. (1)
  State and local roadway account;#
2. (2)
  State and local nonroadway account;#
3. (3)
  Federal roadway account; and#
4. (4)
  Federal nonroadway account.#

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

Code 1981, § 32-10-121, enacted by Ga. L. 2008, p. 73, § 2/HB 1019.

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 472 to 473; merge action: carried; file SHA-256 04a286a38b4e.

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