O.C.G.A.
O.C.G.A.

O.C.G.A. § 20-3-208 (2019)

Pledge of and lien on revenues to secure bonds

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
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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The revenues, rents, purchase payments, financing charges, or other earnings derived from any particular project may be pledged and allocated by the authority pursuant to appropriate resolution as security for any issue of revenue bonds; and such resolution may fully provide for such remedies of bondholders as may be deemed necessary or appropriate by the authority in connection with the issuance of the revenue bonds. A statutory lien on revenues received by the authority in connection with the financing of any project is created for the benefit of the holders of the revenue bonds of the authority issued for such project.

History

(Ga. L. 1978, p. 1765, § 8.)

Annotations

RESEARCH REFERENCES Am. Jur. 2d. - 64 Am. Jur. 2d, Public Securities and Obligations, §§ 385, 388. C.J.S. - 81A C.J.S., States, § 269.