reglab/statecodes huggingface dataset:
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-93 - Execution, seal, and signing of bonds

All bonds issued by the authority shall be executed in the name of the authority by the chairperson and secretary of the authority and shall be sealed with the official seal of the authority or a facsimile thereof. The facsimile signatures of the chairperson and secretary of the authority may be imprinted thereon in lieu of the manual signatures of such officers if the authority so directs in the resolution authorizing such bonds or otherwise. In case any officer whose manual or facsimile signature shall appear on any bonds shall cease to be such officer before the delivery of such bonds, such signature shall nevertheless be valid and sufficient for all purposes the same as if he or she had remained in office until such delivery.
Amended by 2001 Ga. Laws 389, § 1-13.1, eff. 4/30/2001.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-94 - Bonds as negotiable instruments; tax exemption

All revenue bonds issued under this article shall have and are declared to have all the qualities and incidents of negotiable instruments under the negotiable instruments law of the state. Such bonds, their transfer, and the income therefrom shall be exempt from all taxation in this state.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-95 - Utilization of bond proceeds; procedure in cases where proceeds are less than or greater than cost of project or combined projects

The proceeds of the bonds shall be used solely for the payment of the cost of the project or combined projects and shall be disbursed upon requisition or order of the chairman of the authority or its duly bonded agents under such restrictions, if any, as the resolution authorizing the issuance of the bonds or the trust indenture may provide. If the proceeds of such bonds, by error of calculation or otherwise, shall be less than the cost of the project or combined projects, unless otherwise provided in the resolution authorizing the issuance of the bonds or in the trust indenture, additional bonds may in like manner be issued to provide the amount of such deficit, which bonds, unless otherwise provided in the resolution authorizing the issuance of the bonds or in the trust indenture, shall be deemed to be of the same issue and shall be entitled to payment from the same fund without preference or priority of the bonds first issued for the same purpose. If the proceeds of the bonds of any issue shall exceed the amount required for the purpose for which such bonds are issued, all surplus shall be paid into the sinking fund provided for the payment of principal and interest of such bonds.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-96 - Issuance of interim receipts, interim certificates, and temporary bonds

Prior to the preparation of definitive bonds, the authority may, under like restrictions, issue interim receipts, interim certificates, or temporary bonds, with or without coupons exchangeable for definitive bonds upon the issuance of the latter.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-97 - Replacement of lost or mutilated bonds

The authority may also provide for the replacement of any bond which becomes mutilated or which is destroyed or lost.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-98 - Resolutions for bond issuance; issuance of bonds of a single issue

Resolutions for the issuance of revenue bonds may be adopted without any other proceedings or the happening of any other conditions or things than those proceedings, conditions, and things which are specified or required by this article. In the discretion of the authority, revenue bonds of a single issue may be issued for the purpose of paying the cost of any one or more, including a combination of, projects at any one location or any number of locations. Any resolution providing for the issuance of revenue bonds under this article shall become effective immediately upon its passage and need not be published or posted; and any such resolution may be passed at any regular or special or adjourned meeting of the authority by a majority of its members.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-99 - Credit of state not pledged

Revenue bonds issued under this article shall not be deemed to constitute a debt of the State of Georgia or a pledge of the faith and credit of the state, but such bonds shall be payable from the revenues and funds of the authority as provided for in the resolutions or trust indentures authorizing or securing such bond issues; and the issuance of such revenue bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatsoever therefor or to make any appropriation for the payment thereof; and all such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section.
Amended by 2001 Ga. Laws 389, § 1-13.2, eff. 4/30/2001.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-100 - Trust indenture as security for bonds

(a)
In the discretion of the authority, any issue of such revenue bonds may be secured by a trust indenture by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company, inside or outside of the state. Such trust indenture may pledge or assign tolls, revenues, and earnings to be received by the authority.
(b)
Either the resolution providing for the issuance of revenue bonds or such trust indenture may contain provisions for protecting and enforcing the rights and remedies of the bondholder, including the right of the appointment of a receiver upon default in the payment of any principal or interest obligation and the right of any receiver or indenture trustee to enforce collection of tolls, revenues, or other charges for the use of the project or projects, necessary to pay all costs of operation, all reserves provided for, the principal and interest on all bonds in the given issue, all cost of collection, and all other costs reasonably necessary to accomplish the collection of such sums, in the event of any default by the authority.
(c)
Such resolution or trust indenture may include covenants setting forth the duties of the authority in relation to the acquisition of property; the construction of the project; the custody, safeguarding, and application of all moneys; and the operation and maintenance of the project or projects; and may also provide that any project shall be constructed and paid for under the supervision of department engineers or others satisfactory to the original purchasers of the bonds issued for such project or projects. Such resolution or trust indenture may also require that the security given by contractors and by any depository of the proceeds of the bonds or revenues or other moneys be satisfactory to such purchasers and may also contain provisions concerning the conditions, if any, upon which additional revenue bonds may be issued.
(d)
It shall be lawful for any bank or trust company incorporated under the laws of this state to act as such depository and to furnish such indemnifying bonds or pledge such securities as may be required by the authority. Such indenture may set forth the rights and remedies of the bondholders and of the trustee and may restrict the individual right of action of bondholders as is customary in trust indentures securing bonds and debentures of corporations.
(e)
In addition to the foregoing, such trust indenture may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out such trust indenture may be treated as a part of the cost of maintenance, operation, and repair of the project affected by such indenture.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-101 - Payment of bond proceeds to trustee

The authority shall, in the resolution providing for issuance of revenue bonds or in the trust indenture, provide for the payment of the proceeds of the sale of the bonds to any officer or person who or any agency, bank, or trust company which shall act as trustee of such funds and shall hold and apply such funds as provided in this article, subject to such regulations as this article and such resolution or trust indenture may provide.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-102 - Pledges of revenues, tolls, and earnings; creation and disposition of sinking funds

(a)
The revenues, tolls, and earnings derived from any particular project or projects and all or any part of the revenues, tolls, and earnings received by the authority, regardless of whether or not such tolls, earnings, and revenues were produced by a particular project for which bonds have been issued, unless otherwise pledged or allocated, may be pledged by the authority to the payment of the principal and interest obligations of any revenue bond issues of the authority. All funds so pledged, from whatever source received, which may include funds received from one or more of all sources of the authority's income, shall be set aside at regular intervals, as may be provided in the resolutions or trust indentures, into sinking funds which shall be pledged to and charged with the payment of (1) the interest upon such revenue bonds as such interest shall fall due, (2) the principal of the bonds as the same shall mature, (3) the necessary charges of paying agents for paying principal and interest, and (4) any premium required upon bonds retired by call or purchase as may be provided in the resolutions or trust indentures.
(b)
The use and disposition of such sinking funds shall be subject to such regulations as may be provided in the resolutions authorizing the issuance of the revenue bonds or in the trust indentures; but, except as may otherwise be provided in such resolutions or trust indentures, such sinking funds, individually, shall be funds for the benefit of all revenue bonds of the given issue for which they are created without distinction or priority of one over another. Subject to the resolution or trust indenture of any given bond issue, any moneys in such sinking funds, after all bonds and the interest thereon for which such sinking funds were pledged have been paid, may be paid into the authority fund provided for in Code Section
32-10-72
.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-103 - Rights and remedies of holders of bonds or interest coupons and of indenture trustees

Any holders of revenue bonds issued under this article or any of the coupons appertaining thereto, any duly appointed receiver of such bonds or coupons, and any indenture trustee for bondholders, except to the extent the rights given in this Code section may be restricted by resolution passed before the issuance of the bonds or by the trust indenture, may, either at law or in equity, by action, mandamus, or other proceedings, protect and enforce any and all rights under the laws of Georgia or granted in this Code section or under such resolution or trust indentures and may enforce and compel performance of all duties required by this article or by such resolution or trust indenture to be performed by the authority or any officer thereof, including the fixing, charging, and collection of revenues, tolls, and other charges for the use of the project or projects. No holder of any such bond or receiver or indenture trustee thereof shall have the right to compel any exercise of the taxing power of the state to pay any such bond or the interest thereon or to enforce the payment thereof against any property of the state; nor shall any such bond constitute a charge, lien, or encumbrance, legal or equitable, upon any property of the state.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-104 - Refunding bonds

The authority is authorized, subject to any prior resolution or trust indenture, to provide by resolution for the issuance of revenue refunding bonds of the authority for the purpose of refunding any revenue bonds issued under this article and then outstanding, together with accrued interest thereon. The issuance of such revenue refunding bonds, the maturities and all other details thereof, the rights of the holders thereof, and the duties of the authority in respect to the same shall be governed by this article insofar as the same may be applicable.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-105 - Investment of funds in bonds; deposit of bonds as securities

The bonds authorized in paragraph (8) of Code Section
32-10-63
and in Code Section
32-10-90
are deemed securities in which (1) all public officers and bodies of this state and all municipalities and all municipal subdivisions, (2) all insurance companies and associations and other persons carrying on an insurance business, (3) all banks, bankers, trust companies, savings banks and savings associations, including savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business, (4) all administrators, guardians, executors, trustees, and other fiduciaries, and (5) all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or other obligations of the state may properly and legally invest funds, including capital in their control or belonging to them. The bonds are also deemed securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and municipal subdivisions for any purpose for which the deposit of the bonds or other obligations of this state is now or may hereafter be authorized.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-106 - Protection of interests and rights of bondholders

While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of such bonds.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-107 - Confirmation and validation of bonds

Bonds of the authority shall be confirmed and validated in accordance with Article 3 of Chapter 82 of Title 36, the "Revenue Bond Law." The petition for validation for conduit bonds issued pursuant to paragraph (8) of Code Section
32-10-63
shall also make any person, firm, corporation, limited liability company, or other type of private entity a party defendant to such action, if such person, firm, corporation, limited liability company, or other type of private entity has contracted or will contract with the authority to provide funds for the repayment of revenue bonds which are to be issued and are sought to be validated. The bonds, when validated, and the judgment of validation shall be final and conclusive with respect to the validity of such bonds and against the authority and against all other persons or entities, regardless of whether such persons or entities were parties to such validation proceedings.
Amended by 2021 Ga. Laws 241,§ 9, eff. 7/1/2021.
Amended by 2017 Ga. Laws 270,§ 6, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-108 - Transfer of projects to state highway system free from tolls

Upon payment in full of all bonds and the interest thereon and obligations of every nature whatsoever for the payment of which the revenues of any given project or projects have been pledged, in whole or in part, either originally or subsequently, either primarily or secondarily, directly or indirectly or otherwise, or upon the setting aside in trust, for the benefit of bondholders or other obligees, of a sufficient amount for the payment of all such bonds and other obligations and the interest thereon to the maturity thereof, such project or projects, if deemed by the department to be in a safe and satisfactory condition of repair and traffic capacity, may become part of the state highway system and thereafter shall be maintained by the department free of tolls. In the event such project or projects to be transferred are not in good condition, in the judgment of the department, the department shall be charged with the duty of immediately advising the authority in writing what will be necessary to accomplish such safe and satisfactory condition of repair and traffic capacity; and the authority thereafter shall apply sufficient revenue from such project or projects to the accomplishment of such safe condition of repair and traffic capacity; and, upon its accomplishment, such project or projects shall become toll free as provided in this Code section. Upon the fulfillment of all conditions necessary to the cessation of tolls upon any such project, the authority shall convey by deed all right, title, and interest in and to such project to the department for and in consideration of $1.00, which the treasurer of the department is authorized to pay from any department funds available to him for any department expenditure.
Amended by 2001 Ga. Laws 389, § 1-14, eff. 4/30/2001.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-109 - Covenant with holders as to tax-exempt status of authority property and bonds

It is found, determined, and declared that the creation of the authority and the carrying out of its corporate purpose are in all respects for the benefit of the people of this state and that the authority is an institution of purely public charity and will be performing an essential governmental function in the exercise of the power conferred upon it by this article; and this state covenants with the holders of the bonds that the authority shall not be required to pay any taxes or assessments upon any of the property acquired or leased by it or under its jurisdiction, control, possession, or supervision or upon its activities in the operation or maintenance of the projects erected by it or upon any fees, tolls, or other charges for the use of such projects or upon other income received by the authority. The bonds of the authority, their transfer, and the income therefrom shall at all times be exempt from taxation within this state. The tax exemption provided for in this chapter shall include an exemption from sales and use tax on property purchased by the authority or for use by the authority.
Amended by 2015 Ga. Laws 178,§ 3, eff. 5/6/2015.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 2 - REVENUE BONDS (§§ 32-10-90 — 32-10-110) › Section 32-10-110 - Venue and jurisdiction of actions

Any action to protect or enforce any rights under this article and any action pertaining to validation of any bonds issued under this article brought in the courts of this state shall be brought in the Superior Court of Fulton County, which shall have exclusive original jurisdiction of such actions.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-120 - Short title

This part shall be known and may be cited as the "Georgia Transportation Infrastructure Bank Act."
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-121 - Creation; governance; corporate purpose; types of accounts

(a)
There shall be created within the State Road and Tollway Authority an instrumentality of the state to be known as the Georgia Transportation Infrastructure Bank.
(b)
The bank shall be governed by the board of the State Road and Tollway Authority as provided in this chapter.
(c)
The corporate purpose of the bank is to assist in financing qualified projects by providing loans and other financial assistance to government units for constructing and improving highway and transportation facilities necessary for public purposes, including economic development. The exercise by the bank of a power conferred in this part is an essential public function.
(d)
The bank shall establish and maintain at least the four following accounts in the authority fund:
(1)
State and local roadway account;
(2)
State and local nonroadway account;
(3)
Federal roadway account; and
(4)
Federal nonroadway account.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-123 - Authority of the board

In administering the affairs of the bank, the board may exercise any or all of the powers granted to the authority under Parts 1 and 2 of this article, as well as the powers granted in this part. Without limiting the generality of the foregoing, the board is specifically authorized to issue bonds for the purposes of the bank, in the same general manner provided in Part 2 of this article.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-125 - Revenue sources

(a)
The following sources may be used to capitalize the bank and for the bank to carry out its purposes:
(1)
Appropriations by the General Assembly;
(2)
Federal funds available to the state, as approved by the Department of Transportation;
(3)
Contributions, donations, and deposits from government units, private entities, and any other source as may become available to the bank;
(4)
All moneys paid or credited to the bank, by contract or otherwise, payments of principal and interest on loans or other financial assistance made from the bank, and interest earnings which may accrue from the investment or reinvestment of the bank's moneys;
(5)
Proceeds from the issuance of bonds as provided in this part; and
(6)
Other lawful sources not already dedicated for another purpose as determined appropriate by the board.
(b)
Without limiting the provisions of subsection (a) of this Code section, it shall be specifically provided that any local government may use the proceeds of any local funds which may be hereafter made available by law for the purposes of this part, including without limitation the funding of eligible projects and contributions, donations, and deposits to the bank.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-126 - Earnings; establishment of accounts and subaccounts; commingling of funds

(a)
Earnings on balances in the federal accounts must be credited and invested according to federal law. Earnings on state and local accounts must be credited to the state and local roadway account or state and local nonroadway account that generates the earnings. The bank may establish accounts and subaccounts within the state and local accounts and federal accounts as considered desirable to effectuate the purposes of this part, or to meet the requirements of any state or federal programs.
(b)
For necessary and convenient administration of the bank, the board shall establish federal and state and local accounts and subaccounts within the bank necessary to meet any applicable federal law requirements or as the bank shall determine necessary or desirable in order to implement the provisions of this part.
(c)
The bank shall comply with all applicable federal laws and regulations prohibiting the commingling of certain federal funds deposited in the bank.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-127 - Loans and other financial assistance; determination of eligible projects

(a)
The bank may provide loans and other financial assistance to a government unit to pay for all or part of the eligible costs of a qualified project. The term of the loan or other financial assistance shall not exceed the useful life of the project. The bank may require the government unit to enter into a financing agreement in connection with its loan obligation or other financial assistance. The board shall determine the form and content of loan applications, financing agreements, and loan obligations including the term and rate or rates of interest on a financing agreement. The terms and conditions of a loan or other financial assistance from federal accounts shall comply with applicable federal requirements.
(b)
(1)
The board shall determine which projects are eligible projects and then select from among the eligible projects qualified projects. When determining eligibility, the board shall make every effort to balance any loans or other financial assistance among all regions of this state.
(2)
Preference for loans may be given to eligible projects in tier 1 and tier 2 counties, as defined in Code Section
48-7-40
and by the Department of Community Affairs.
(3)
Preference for grants and other financial assistance may be given to eligible projects which have local financial support.
Amended by 2015 Ga. Laws 46,§ 6-1, eff. 7/1/2015.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-128 - Authority of qualified borrowers

(a)
Qualified borrowers are authorized to obtain loans or other financial assistance from the bank through financing agreements. Qualified borrowers entering into financing agreements and issuing loan obligations to the bank may perform any acts, take any action, adopt any proceedings, and make and carry out any contracts or agreements with the bank as may be agreed to by the bank and any qualified borrower for the carrying out of the purposes contemplated by this part.
(b)
In addition to the authorizations contained in this part, all other statutes or provisions permitting government units to borrow money and issue obligations, including, but not limited to Article 3 of Chapter 82 of Title 36, the "Revenue Bond Law," may be utilized by any government unit in obtaining a loan or other financial assistance from the bank to the extent determined necessary or useful by the government unit in connection with any financing agreement and the issuance, securing, or sale of loan obligations to the bank.
(c)
A qualified borrower may receive, apply, pledge, assign, and grant security interests in project revenues to secure its obligations as provided in this part. A qualified borrower may fix, revise, charge, and collect fees, rates, rents, assessments, and other charges of general or special application for the operation or services of a qualified project, the system of which it is a part, and any other revenue producing facilities from which the qualified borrower derives project revenues to meet its obligations under a financing agreement or to provide for the construction and improving of a qualified project.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-129 - Bank exempted from taxes and assessments

The bank is performing an essential governmental function in the exercise of the powers conferred upon it and shall not be required to pay taxes or assessments upon property or upon its operations or the income therefrom, or taxes or assessments upon property or loan obligations acquired or used by the bank or upon the income therefrom.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-130 - Withholding of funds

(a)
If a government unit fails to collect and remit in full all amounts due to the bank on the date these amounts are due under the terms of any note or other obligation of the government unit, the bank shall notify the appropriate state officials who shall withhold all or a portion of the funds of the state and all funds administered by the state and its agencies, boards, and instrumentalities allotted or appropriated to the government unit and apply an amount necessary to the payment of the amount due.
(b)
Nothing contained in this Code section mandates the withholding of funds allocated to a government unit which would violate contracts to which the state is a party, the requirements of federal law imposed on the state, or judgments of a court binding on the state.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-131 - Liability of officer, employee, or committee of bank

Neither the board nor any officer, employee, or committee of the bank acting on behalf of it, while acting within the scope of this authority, is subject to any liability resulting from carrying out any of the powers given in this part.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-132 - Notice prior to action or referendum not required

Notice, proceeding, or publication, except those required in this part, shall not be necessary to the performance of any act authorized in this part nor shall any act of the bank be subject to any referendum.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 10 - PUBLIC AUTHORITIES (§§ 32-10-1 — 32-10-133) › Article 2 - STATE TOLLWAY AUTHORITY (§§ 32-10-60 — 32-10-133) › Part 3 - GEORGIA TRANSPORTATION INFRASTRUCTURE BANK ACT (§§ 32-10-120 — 32-10-133) › Section 32-10-133 - Annual report

Following the close of each state fiscal year, the bank shall submit an annual report of its activities for the preceding year to the Governor, the Lieutenant Governor, and the Speaker of the House of Representatives and make such report available to the General Assembly. The bank also shall submit an annual report to the appropriate federal agency in accordance with requirements of any federal program.
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 11 - INTERSTATE RAIL PASSENGER NETWORK COMPACT (§§ 32-11-1 — 32-11-9) › Section 32-11-1 - Ratification, enactment, and entry of compact

The interstate rail passenger network compact is ratified, enacted, and entered into by the State of Georgia with all other states joining the compact in the form substantially as this chapter.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 11 - INTERSTATE RAIL PASSENGER NETWORK COMPACT (§§ 32-11-1 — 32-11-9) › Section 32-11-2 - Policy

It is the policy of the states party to this compact to cooperate and share the administrative and financial responsibilities concerning the planning of an interstate rail passenger network system connecting major cities in Illinois, Indiana, Kentucky, Tennessee, Georgia, and Florida. The participating states agree that a rail passenger system would provide a beneficial service and would be enhanced if operated across state lines.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 11 - INTERSTATE RAIL PASSENGER NETWORK COMPACT (§§ 32-11-1 — 32-11-9) › Section 32-11-3 - Economic impact study

(a)
The states of Illinois, Indiana, Kentucky, Tennessee, Georgia, and Florida (referred to in this chapter as "participating states") agree, upon adoption of this compact by the respective states, to jointly conduct and participate in a rail passenger network financial and economic impact study. The study must do the following:
(1)
Carry forward research previously performed by the national railroad passenger corporation (Amtrak) (report issued December 1990) for purposes of evaluating a representative service schedule, train running times, and associated costs.
(2)
Include consideration of the following:
(A)
The purchase of railroad equipment by a participating state and the lease of the railroad equipment to Amtrak.
(B)
The recommendation that a member of the council serve on the Amtrak board of directors.
(C)
The periodic review of projected passenger traffic estimates.
(D)
Any other matter related to the financial and economic impact of a rail passenger network between the cities of Chicago, Illinois, and Jacksonville, Florida.
(b)
Information and data collected during the study under subsection (a) of this Code section that is requested by a participating state or a consulting firm representing a participating state or the compact may be made available to the state or firm. However, the information may not include matters not of public record or of a nature considered to be privileged and confidential unless the state providing the information agrees to waive the confidentiality.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 11 - INTERSTATE RAIL PASSENGER NETWORK COMPACT (§§ 32-11-1 — 32-11-9) › Section 32-11-4 - Assistance by participating states

The participating states agree to do the following:
(1)
Make available to each other and to a consulting firm representing a participating state or the compact assistance that is available, including personnel, equipment, office space, machinery, computers, engineering, and technical advice and services.
(2)
Provide financial assistance for the implementation of the feasibility study that is available.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 11 - INTERSTATE RAIL PASSENGER NETWORK COMPACT (§§ 32-11-1 — 32-11-9) › Section 32-11-5 - Creation of advisory council; membership

The interstate rail passenger advisory council (referred to in this compact as the "council") is created. The membership of the council consists of three individuals from each participating state. The Governor, President of the Senate, and Speaker of the House of Representatives shall each appoint one member of the council.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 11 - INTERSTATE RAIL PASSENGER NETWORK COMPACT (§§ 32-11-1 — 32-11-9) › Section 32-11-6 - Duties of council

The council shall do the following:
(1)
Meet within 30 days after ratification of this agreement by at least two participating states.
(2)
Establish rules for the conduct of the council's business, including the payment of the reasonable and necessary travel expenses of council members.
(3)
Coordinate all aspects of the rail passenger financial and economic impact study under Code Section
32-11-3
.
(4)
Contract with persons, including institutions of higher education, for performance of any part of the study under Code Section
32-11-3
.
(5)
Upon approval of the study, negotiate the proportionate share that each state will contribute toward the implementation and management of the proposed restoration of the interstate rail passenger system.
(6)
Make recommendations to each participating state legislature concerning the results of the study required by this chapter.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 11 - INTERSTATE RAIL PASSENGER NETWORK COMPACT (§§ 32-11-1 — 32-11-9) › Section 32-11-7 - Effective date

This compact becomes effective upon the adoption of the compact into law by at least two of the participating states. Thereafter, the compact becomes effective for another participating state upon the enactment of the compact by the state.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 11 - INTERSTATE RAIL PASSENGER NETWORK COMPACT (§§ 32-11-1 — 32-11-9) › Section 32-11-8 - Repeal

This compact continues in force with respect to a participating state and remains binding upon the state until six months after the state has given notice to each other participating state of the repeal of this chapter. The withdrawal may not be construed to relieve a participating state from an obligation incurred before the end of the state's participation in the compact.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 11 - INTERSTATE RAIL PASSENGER NETWORK COMPACT (§§ 32-11-1 — 32-11-9) › Section 32-11-9 - Construction of compact

(a)
This compact shall be liberally construed to effectuate the compact's purposes.
(b)
The provisions of this compact are severable. If:
(1)
A phrase, clause, sentence, or provision of this compact is declared to be contrary to the Constitution of a participating state or of the United States; or
(2)
The applicability of this compact to a government, an agency, a person, or a circumstance is held invalid,
the validity of the remainder of this compact and the compact's applicability to any government, agency, person, or circumstance is not affected.
(c)
If this compact is held contrary to the Constitution of a participating state, the compact remains in effect for the remaining participating states and in effect for the state affected for all severable matters.
2023 CODE OF GEORGIA › Title 32 - HIGHWAYS, BRIDGES, AND FERRIES (§§ 32-1-1 — 32-12-1) › Chapter 12 - RURAL AND HUMAN SERVICES TRANSPORTATION (§ 32-12-1) › Section 32-12-1 - through 32-12-6 - [Repealed]

Repealed by Ga. L. 2015, p. 950, § 1/HB 386, effective July 1, 2015.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 1 - GENERAL PROVISIONS (§§ 33-1-1 — 33-1-27) › Section 33-1-2 - Definitions

As used in this title, the term:
(1)
"Commissioner of Insurance" or "Commissioner" means the Commissioner of Insurance of the State of Georgia.
(2)
"Department of Insurance" or "department" means the Department of Insurance established by Code Section
33-2-1
.
(3)
"Health benefit policy," "health benefit plan," or other similar terms shall not include limited benefit insurance policies designed, advertised, and marketed to supplement major medical insurance such as accident only, CHAMPUS supplement, dental, disability income, fixed indemnity, long-term care, medicare supplement, specified disease, vision, and any other type of accident and sickness insurance other than basic hospital expense, basic medical-surgical expense, or major medical insurance.
(4)
"Insurance" means a contract which is an integral part of a plan for distributing individual losses whereby one undertakes to indemnify another or to pay a specified amount or benefits upon determinable contingencies.
(5)
"Insurer" means any person engaged as indemnitor, surety, or contractor who issues insurance, annuity or endowment contracts, subscriber certificates, or other contracts of insurance by whatever name called. Burial associations, health care plans, and health maintenance organizations are insurers within the meaning of this title.
(6)
"Natural person" means an individual human being and does not include any firm, partnership, association, corporation, or trust.
(7)
"Person" means an individual, insurer, company, association, trade association, organization, society, reciprocal or interinsurance exchange, partnership, syndicate, business trust, corporation, Lloyd's association, and associations, groups, or department of underwriters, and any other legal entity.
(8)
"Security," "security deposit," "special deposit," or "deposit," when used to refer to posted deposits required to be placed in the possession of the Commissioner, shall mean the actual physical evidence of a security, such as a certificate, or an entry made through the federal reserve book-entry system. The federal reserve book-entry system shall be limited in meaning to the computerized systems sponsored by the United States Department of Treasury and certain agencies and instrumentalities of the United States for holding and transferring securities of the United States government and such agencies and instrumentalities, respectively, in federal reserve banks through banks which are members of the Federal Reserve System or which otherwise have access to such computerized systems.
(9)
"Transact," with respect to insurance, includes any of the following:
(A)
Solicitation and inducement;
(B)
Preliminary negotiations;
(C)
Effectuation of a contract of insurance; or
(D)
Transaction of matters subsequent to effectuation of the contract and arising out of it.
Amended by 2019 Ga. Laws 139,§ 1-1, eff. 7/1/2019.
Amended by 2017 Ga. Laws 52,§ 3, eff. 7/1/2017.
Amended by 2003 Ga. Laws 97, § 1.1, eff. 5/30/2003.
Amended by 2003 Ga. Laws 380, § 1, eff. 7/1/2003.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 1 - GENERAL PROVISIONS (§§ 33-1-1 — 33-1-27) › Section 33-1-3 - [Repealed] Application of title to fraternal benefit societies and farmers' mutual fire insurance companies

Repealed and reserved by 2019 Ga. Laws 139,§ 1-2, eff. 7/1/2019.
Amended by 2017 Ga. Laws 52,§ 4, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 1 - GENERAL PROVISIONS (§§ 33-1-1 — 33-1-27) › Section 33-1-4 - Use of existing forms and filings

Every form of insurance document and every rate or other filing lawfully in use immediately prior to January 1, 1961, may continue to be so used or be effective until the Commissioner otherwise prescribes in accordance with this title, except that, before the expiration of one year from and after January 1, 1961, neither this title nor the Commissioner shall prohibit the use of any such document, rate, or filing because of any power, prohibition, or requirement contained in this title which did not exist under laws in force immediately prior to January 1, 1961.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 1 - GENERAL PROVISIONS (§§ 33-1-1 — 33-1-27) › Section 33-1-5 - Provisions of title relating to particular matters to prevail over general provisions

Provisions of this title relating to a particular kind of insurance or to a particular type of insurer or to a particular matter prevail over provisions relating to insurance in general or to insurers in general.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 1 - GENERAL PROVISIONS (§§ 33-1-1 — 33-1-27) › Section 33-1-6 - Requirements for action as insurer generally

No person shall act as an insurer as defined in Code Section
33-1-2
in this state without complying with the applicable provisions of this title.