O.C.G.A.

O.C.G.A. § 10-9-61 (2019)

Cumulative nature of authority powers; power to pledge or assign rents, revenues, earnings, and funds as security for indebtedness

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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(a) The powers granted to the authority under this article are cumulative and not in derogation of the powers otherwise granted to the authority under this chapter. (b) Without limitation of the foregoing, the authority shall have the power to pledge or assign as security for the payment of, and to apply in the payment of, any indebtedness incurred by the authority under paragraph (9) of subsection (b) of Code Section 10-9-4 any rents, revenues, earnings, and funds derived from or in connection with the facilities undertaken under this article or any project under this chapter or otherwise available to the authority for such purposes, as the authority may determine necessary or appropriate, subject to such limitations or priorities as may be established incident to the issuance of revenue bonds under this article.

History

Code 1981, § 10-9-61, enacted by Ga. L. 1989, p. 1195, § 11.

CHAPTER 10 SEED-CAPITAL FUND Article 1

Sec.

General Provisions Sec.

Definitions. Creation of Seed-Capital Fund. Administration of fund; equity contributions; disbursements. Investing of funds with investment entities. Transfer of funds for making loans. Distribution to be deposited in the fund. Publishing of annual report by center.

Article 2 Invest Georgia Fund

Definitions. Invest Georgia Board; creation; membership; powers. Responsibilities of board. Fund administrator; investments. Expenditure of funds; capitalization; cost of administration. Five-year funding period. Allocation of designated capital. Reports. Retention of designated capital and investment returns. Report on implementation of article.

Creation; purpose.

Annotations

Law reviews. For note on 1989 enactment of this chapter, see 6 Ga. St. U.L. Rev. 155 (1989).

ARTICLE 1 GENERAL PROVISIONS Editor’s notes. Ga. L. 2013, p. 243, § 1/HB 318, not codified by the General Assembly,

designated Code Sections 10-10-1 through 10-10-7 of Chapter 10 as Article 1, effective April 29, 2013.