Asamblea General de Georgia · Texto completo

HB 1357: Bulloch County Public Facilities Authority; revenue bonding authority; revise provisions

Versión Enrolled, la más reciente que tiene LegiScan · Última acción: 11 de mayo de 2026 · Passed

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House Bill 1357 (AS PASSED HOUSE AND SENATE)

By: Representatives Franklin of the 160th, Burns of the 159th, and Parrish of the 158th

A BILL TO BE ENTITLED

AN ACT

To amend an Act creating the Bulloch County Public Facilities Authority and to provide for the appointment of members of the authority, approved June 30, 2020 (Ga. L. 2020, p. 3929), so as to revise provisions related to revenue bonding authority; to revise definitions; to provide for related matters; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

An Act creating the Bulloch County Public Facilities Authority and to provide for the appointment of members of the authority, approved June 30, 2020 (Ga. L. 2020, p. 3929), is amended in Section 3 by revising paragraphs (3) and (5) as follows: "(3) 'Project' means any of the following self-liquidating projects:

(A) All buildings, facilities, and equipment necessary or beneficial for the efficient operation of the county or any department, agency, division, commission, or utility system thereof; and

(B) Any 'undertaking' permitted by the Revenue Bond Law."

"(5) 'Revenue bonds' means revenue bonds authorized to be issued pursuant to this Act."

SECTION 2.

Said Act is further amended by revising Section 5 as follows: "SECTION 5.

Revenue bonds.

The authority shall have power and is hereby authorized to provide by resolution for the issuance of revenue bonds for the purpose of paying all or any part of the costs of a project and for the purpose of refunding revenue bonds or other obligations previously issued; provided, however, that no such revenue bonds shall be issued to finance a project for the Bulloch County School District or any other political subdivision or municipal corporation of the state located within Bulloch County other than Bulloch County. The principal of and interest on such revenue bonds shall be payable solely from the revenues and properties pledged to the payment of such revenue bonds. The revenue bonds issued by the authority shall contain such terms as the authority shall determine are in the best interest of the authority; provided, however, that no revenue bonds shall have a maturity exceeding 40 years."

SECTION 3.

All laws and parts of laws in conflict with this Act are repealed.