O.C.G.A.

O.C.G.A. § 50-27-32 (2019)

Corporation authorized to borrow money; validation of debt; restriction on use of money in state general fund; purchase or release of goods and services

✓ 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 corporation may borrow, or accept and expend, in accordance with the provisions of this chapter, such moneys as may be received from any source, including income from the corporation’s operations, for effectuating its corporate purposes, including the payment of the initial expenses of initiation, administration, and operation of the corporation and the lottery. (b) Any debt of the corporation may be validated pursuant to the provisions of subsection (e) of Code Section 50-17-25, and the provisions of such subsection relating to the State Financing and Investment Commission shall be deemed to apply to the corporation. (c) The corporation shall be self-sustaining and self-funded. Moneys in the state general fund shall not be used or obligated to pay the expenses of the corporation or prizes of the lottery, and no claim for the payment of an expense of the lottery or prizes of the lottery may be made against any moneys other than moneys credited to the corporation operating account. (d) The corporation may purchase, lease, or lease-purchase such goods or services as are necessary for effectuating the purposes of this chapter. The corporation may make procurements which integrate functions such as lottery game design, lottery ticket distribution to retailers, supply of goods and services, and advertising. In all procurement decisions, the corporation shall take into account the particularly sensitive nature of the state lottery and shall act to promote and ensure security, honesty, fairness, and integrity in the operation and administration of the lottery and the objectives of raising net proceeds for the benefit of educational programs and purposes.

History

Code 1981, § 50-27-32, enacted by Ga. L. 1992, p. 3173, § 2.

Notes of Decisions
Cited in 1 case, 2011–2011 · leading case: Kyle v. Georgia Lottery Corp., 718 S.E.2d 801 (Ga. 2011).
Kyle v. Georgia Lottery Corp., 718 S.E.2d 801 (Ga. 2011). · cites it 2× “GLC was designated by our General Assembly as an instrumentality of the State, “and not a state agency,” OCGA § 50-27-4, which is to function as an “entrepreneurial enterprise,” OCGA § 50-27-2 (2), and is not to be dependent on the state treasury, OCGA § 50-27-32 (c).”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.