Official Code of Georgia Annotated

Title 46. PUBLIC UTILITIES AND PUBLIC TRANSPORTATION · Chapter 4. DISTRIBUTION, STORAGE, AND SALE OF GAS · Article 4. MUNICIPAL GAS AUTHORITY OF GEORGIA

46-4-119. Revenues held in trust for bondholders.

Active

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

All funds received pursuant to authority of this article, whether as proceeds from the sale of revenue bonds or as revenues, fees, tolls, charges, or other earnings or as gifts, grants, or other contributions, shall be deemed to be trust funds to be held and applied solely as provided in this article. The bond owners entitled to receive the benefits of such funds shall have a lien on all such funds until applied as provided in any such resolution, trust agreement, or indenture of 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

Code 1981, § 46-4-119, enacted by Ga. L. 1987, p. 745, § 1.

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

Text read from t46-(v34)-2025-pdf.pdf, Volume V34, 2025 edition, page 442; merge action: bound only; file SHA-256 53ab60ae5027.