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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-38 - Resolutions for bond issuance; issuance of bonds of a single issue

Resolutions for the issuance of 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, 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providing for the issuance of bonds under this article shall become effective immediately upon its passage and need not be published or posted, and any such resolution may be passed at any regular or special or adjourned meeting of the authority by a majority of its members.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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-39 - Effect of bond issuance on state debt; recitals on face of bonds regarding such effect

Bonds issued under this article shall not be deemed to constitute a debt of the State of Georgia or a pledge of the credit of the state, but such bonds shall be payable solely from the fund provided for in Code Section
32-10-42
; and the issuance of such 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; and all such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section.
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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-40 - Trust indentures as security for bonds

(a)
In the discretion of the authority, any issue of such 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.
(b)
Resolutions providing for the issuance of bonds and trust indentures may contain such provisions for protecting and enforcing the rights and remedies of the bondholders, including the right to the appointment of a receiver for any project or projects upon the default of any principal or interest payment upon the bonds thereof, and the right of any receiver or indenture trustee to enforce collections of rents, revenues, or other charges for the use of the project or projects necessary to pay all costs of operation, the principal and interest on the issue, and cost of collection, and all things reasonably necessary to accomplish the collection of such sums in the event of any default of the authority.
(c)
Such resolutions or trust indentures may include covenants setting forth the duties of the authority in relation to the acquisition of the property; the construction of the project; the maintenance, operation, repair, and insurance of the project; and the custody, safeguarding, and application of all moneys; 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. The trust 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 advisable, 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 or as an administrative expense of the authority.
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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-41 - Payment of bond proceeds to trustee

The authority shall, in the resolution providing for issuance of 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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-42 - Pledges of revenues, rents, and earnings; creation and disposition of sinking funds

(a)
The revenues, rents, and earnings derived from any particular project or combined projects or any and all funds from any source received by the department and pledged and allocated by it to the authority as security for the performance of any lease or leases or any and all revenues, rents, and earnings received by the authority, regardless of whether or not such rents, earnings, and revenues were produced by a particular project for which bonds have been issued, unless otherwise pledged and allocated, may be pledged by the authority to payment of principal and interest on bonds of the authority as any resolution authorizing the issuance of the bonds or trust instrument may provide; and such funds so pledged, from whatever source received, may include funds received from one or more or all sources and may be set aside into sinking funds at regular intervals which may be provided in any resolution or trust indenture. All such sinking funds shall be pledged to and charged with the payment of (1) the interest upon such bonds as such interest shall fall due, (2) the principal of the bonds as the same shall fall due, (3) the necessary charges of paying agents for paying principal and interest, and (4) any premium upon bonds retired by call or purchase as provided in this Code section.
(b)
The use and disposition of such sinking funds shall be subject to such regulations as may be provided for in the resolution authorizing the issuance of the bonds or in the trust indenture, 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 bonds without distinction or priority of one over another. Subject to the resolution authorizing the issuance of the bonds or the trust indenture of any given bond issue, any moneys in all 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
32-10-13
.
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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-43 - Rights and remedies of holders of bonds or interest coupons, of receivers for such holders, and of indenture trustees

Any holder of bonds or interest coupons issued under this article, any receiver for such holders, or indenture trustee, if any there be, 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 indenture. Also, any holder of bonds or interest coupons issued under this article, any receiver for such holders, or any indentured trustee may enforce and compel performance of all duties required by this article or by resolution or trust indenture to be performed by the authority or any officer thereof, including the fixing, charging, and collecting of revenues, rents, and other charges for the use of the project or projects; and, in the event of default of the authority upon the principal and interest obligations of any bond issue, the individual, receiver, or trustee specified in this Code section shall be subrogated to each and every right, specifically including the contract rights of collecting rentals, which the authority may possess against the board and the department or either of them or their respective successors; and, in the pursuit of their remedies as subrogee, such individual, receiver, or trustee may proceed, either at law or in equity, by action, mandamus, or other proceedings to collect any sums by such proceedings due and owing to the authority and pledged or partially pledged directly or indirectly to the benefit of the bond issue of which said individual, receiver, or trustee is representative. 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 the property of the state. However, any provision of this article or any other law to the contrary notwithstanding, any such bondholder or receiver or indenture trustee shall have the right by appropriate legal or equitable proceedings, including without being limited to mandamus, to enforce compliance by the appropriate public officials with Article VII, Section IV and Article III, Section IX, Paragraph VI(b) of the Constitution of Georgia; and permission is given for the institution of any such proceedings to compel the payment of lease obligations.
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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-44 - Refunding bonds

The authority is authorized, subject to any prior resolution or trust indenture, to provide by resolution for the issuance of refunding bonds of the authority for the purpose of refunding any bonds issued under this article and then outstanding, together with accrued interest thereon. The issuance of such 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 it 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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-45 - Investment of funds in bonds; deposit of bonds as securities

The bonds authorized in Code Section
32-10-30
are deemed securities in which (1) all public officers and bodies of the 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 hereafter may 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 hereafter may 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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-46 - 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; nor will the state itself in any way obstruct, prevent, impair, or render impossible the due and faithful performance by its board and department, or either of them, or their successors, of all project rental and lease contracts and all the covenants thereof entered into under this article. This article shall be for the benefit of the state, the authority, and each and every holder of the authority's bonds and upon and after the issuance of bonds under this article shall constitute an irrevocable contract with 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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-47 - Confirmation and validation of bonds

Bonds of the authority shall be confirmed and validated in accordance with the procedure of Article 3 of Chapter 82 of Title 36, the "Revenue Bond Law."
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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-48 - Adjudication regarding lease contracts and rental income

In and as an integral but independent part of the bond validation proceedings under this article, or separately, the authority is given the right to and privilege of a simultaneous or separate right of action or equitable bill against the state, the board, and the department for a declaratory adjudication of the validity and binding effect of all lease contracts whose rental income may be pledged or partially pledged to the benefit of any bonds being validated. In each instance of the exercise of this right the actual controversy shall be whether or not the purported contracts contested are in all respects good and sufficient, valid, and binding obligations of the board and department. Any citizens of the state may intervene in such actions and assert any ground of objection. It shall be incumbent upon the board and department to defend against an adjudication of such validity or be forever bound unto the authority and all succeeding to the rights of the authority thereafter. Such adjudications may be rendered as an integral but independent part of the judgment upon the validation issue with which they are contested or may be rendered separately.
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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-49 - Covenant with holders of bonds 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 purposes 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 be required to pay no taxes or assessments upon any of the property acquired or leased by it 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, rental, or other charges for the use of such projects or upon other income received by the authority and that the bonds of the authority, their transfer, and the income therefrom shall at all times be exempt from taxation from within 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 1 - GEORGIA HIGHWAY AUTHORITY (§§ 32-10-1 — 32-10-50) › Part 2 - REVENUE BONDS (§§ 32-10-30 — 32-10-50) › Section 32-10-50 - 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-61 - Continuation of State Tollway Authority as State Road and Tollway Authority

The State Tollway Authority shall continue to be a body corporate and politic and an instrumentality and public corporation of the state known as the "State Road and Tollway Authority." It shall have perpetual existence. In said name it may contract and be contracted with, sue and be sued, implead and be impleaded, and complain and defend in all courts of this state, subject to the limitations of Code Section
32-10-110
.
Amended by 2001 Ga. Laws 389, § 1-7, 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-62 - Membership; compensation; officers; bylaws; quorum; record of proceedings

(a)
The members of the authority shall be ex officio the Governor, the commissioner of transportation, the director of the Office of Planning and Budget, one member to be appointed by the Lieutenant Governor and to serve during the term of office of the Lieutenant Governor and until a successor is duly appointed and qualified, and one member to be appointed by the Speaker of the House of Representatives and to serve during the term of office of the Speaker of the House of Representatives and until a successor is duly appointed and qualified; and membership shall be a separate and distinct duty for which they shall receive no additional compensation. All members of the authority shall be entitled to all actual expenses necessarily incurred while in the performance of duties on behalf of the authority. The authority shall elect one of its members as chairman. It shall also elect a secretary and a treasurer, who need not necessarily be members of the authority. The authority may make such bylaws for its government as is deemed necessary but it is under no duty to do so. A majority of the members of the authority shall constitute a quorum necessary for the transaction of business, and a majority vote of those present at any meeting at which there is a quorum shall be sufficient to do and perform any action permitted to the authority by this article.
(b)
No vacancy on the authority shall impair the right of the quorum to transact any and all business as stated in this Code section. Members of the authority shall be accountable as trustees. They shall cause to be kept adequate books and records of all transactions of the authority, including books of income and disbursements of every nature. The books and records shall be inspected and audited by the state auditor at least once a year.
Amended by 2001 Ga. Laws 389, § 1-8, 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-63.1 - Exemption for transit service buses, motor vehicles, and rapid rail systems from requirements relating to identification and regulation of motor vehicles

No provision of Chapter 1 of Title 40 shall apply to any bus, other motor vehicle, or rapid rail system of the authority which provides transit services.
Added by 2018 Ga. Laws 361,§ 1, eff. 7/1/2018.
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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-65 - Fixing, revising, charging, and collecting tolls; use and disposition of tolls generally

The authority is authorized to fix, revise, charge, and collect tolls for the use of each project. Such tolls shall be so fixed and adjusted as to carry out and perform the terms and provisions of any resolution, trust indenture, or contract with or for the benefit of bondholders; and such tolls shall not be subject to supervision or regulation by any other commission, board, bureau, or agency of the state. Notwithstanding any provision of this article to the contrary, if the repayment of financing is not the primary or exclusive purpose for the exercise of the authority's toll power, the authority shall not be required to issue or have outstanding bonds or other indebtedness with respect to a project in order to fix, revise, charge, enforce, or collect tolls for such project. The use and disposition of tolls and revenues shall be subject to the provisions of the resolution authorizing the issuance of such bonds or of the trust indenture securing the same, if there are any.
Amended by 2016 Ga. Laws 625,§ 32, eff. 5/3/2016.
Amended by 2015 Ga. Laws 178,§ 2, 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-65.1 - Expiration of tolls

Every toll established under this article must expire after a specified period of time and may be extended beyond said time by approval of the State Road and Tollway Authority.
Amended by 2001 Ga. Laws 389, § 2-1, 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-65.2 - Annual reporting

The authority shall submit an annual report to the House Committee on Transportation and the Senate Transportation Committee detailing the amount of funds collected pursuant to the exercise of the authority's toll powers and how such funds have been used or disposed of by the authority.
Added by 2017 Ga. Laws 270,§ 3, 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-66 - Duty of authority to prescribe rules and regulations for projects generally

It shall be the duty of the authority to prescribe rules and regulations as approved by the department for the operation of each project constructed under this article, including rules and regulations to ensure maximum use of such project. The authority is authorized to promulgate such rules and regulations for the use and occupancy of the project as may be necessary and proper for the public's safety and convenience, for the preservation of its property, and for the collection of tolls.
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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-67 - Study, financing, construction, and operation of new projects; cooperation and assistance of Department of Transportation

(a)
The Governor, in his discretion or upon the recommendation of the State Transportation Board, is authorized and empowered to call a joint meeting of the authority and the board for the purpose of initiating all projects which may be considered under the authority of this article. Upon the concurrence of the Governor, a majority of the board, and the authority, the board or the authority is authorized and empowered to commence the study of any given project or projects and to provide for their construction. An appropriate resolution of such joint meeting shall provide for divisions of duties and responsibilities between the authority and the board in connection with such studies. In keeping with such resolution or resolutions, the authority and the board are authorized, in the performance of their assigned duties, to expend from any sums available such sums as may be necessary for the survey and study and completion of any project or projects; and such expenditures may include those necessary for all traffic surveys, expert studies, and all other expense reasonably necessary in establishing the feasibility of any given project and in the execution of all plans, specifications, and all other things necessary for revenue bond financing and construction, including all supervision of every kind required in its completion. If such expenditures, or any part of them, shall be undertaken by the board, the board shall keep proper records which shall reflect the amounts spent on each and every project study. Upon completion of any given project or projects financed by any given revenue bond issued, so long as there shall be funds available in the hands of the authority from the issue of revenue bonds to finance such project or projects, the board may demand the reimbursement of such expenditures; however, if not reimbursed, said expenditures shall be legitimate expenses of operation of the board. The authority, upon the completion or receipt of such studies or plans and specifications or other aids, shall proceed, if such project or projects are possible, to finance, acquire rights of way, construct, and operate such projects pursuant to its purposes, powers, and duties.
(b)
Upon the concurrence of the board, the Department of Transportation shall have the right to provide maintenance and operational assistance to the authority as may be necessary to effectuate the purposes of this article, including but not limited to authorizing employees of the department to assist the authority in the collection of tolls on authority projects. The authority shall reimburse the department for such assistance.
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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-68 - Letting of contracts by competitive bids

All contracts of the authority for the construction of any project authorized by this article shall be let to the reliable bidder submitting the lowest sealed bid upon plans and specifications approved by the department, except as otherwise provided for projects authorized under any provisions of Code Sections
32-2-78
through
32-2-81
. The procedures for letting such bids shall conform to those prescribed for the department in Code Sections
32-2-64
through
32-2-72
and
32-2-78
through
32-2-81
.
Amended by 2017 Ga. Laws 270,§ 4, 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-69 - Conveyance of real property to authority; power to acquire and expend funds for property interests

(a)
The Governor is authorized and empowered to convey to the authority, on behalf of the state, any real property or interest therein or any rights of way owned by the state, including property or rights of way acquired in the name of the department or board, which is used at the time or may, upon completion of any action committed to the authority by this article, be used as a project. The consideration for such conveyance shall be determined by the Governor and expressed in the deed of conveyance; however, such consideration shall be nominal, the benefits flowing to the state and its citizens constituting full and adequate actual consideration, provided that in the event of the inability of the authority to issue or sell the revenue bonds required for financing the completion of any given project or projects, then, subject to the intervening rights of any innocent party, all rights, titles, and interests so conveyed shall forever revert to the department or agency from which it came.
(b)
The governing authority of any county or incorporated municipality of this state is authorized and empowered on behalf of such political subdivision to convey to the authority any real property or interest therein or any rights of way owned by such political subdivision, which is used at the time or may, upon completion of any action committed to the authority by this article, be used as a project if conveyed by a county or incorporated municipality. The consideration for such conveyance shall be determined by the governing authority of such political subdivision and expressed in the deed of conveyance. Such consideration, however, shall be nominal, the benefits flowing to the political subdivisions and its citizens constituting full and adequate actual consideration. However, nothing in this subsection shall prevent the authority from reimbursing a political subdivision, as authorized in Code Section
32-10-70
.
(c)
The board or its successors and the department are empowered to acquire, in any manner now permitted to them by law, and to expend funds available to them for such acquisition, real property, interests therein, or rights of way which upon acquisition may be conveyed by the Governor as provided in this Code section to the authority.
Amended by 2001 Ga. Laws 389, § 1-10.1, 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-70 - Transfer of real and personal property to authority by public bodies and officers

All counties, municipalities, and other political subdivisions of the state and all public agencies and officers of the state, notwithstanding any contrary provisions of the law, are authorized and empowered to lease, lend, grant, or convey to the authority, upon its request and upon such terms and conditions as the authority and the proper officials of such counties, cities, other political subdivisions, or public agencies or officials may agree upon as reasonable and fair, and without necessity for any advertisement, order of court, or other action or formality other than the regular execution of the proper instrument, any real or personal property which may be necessary or convenient to the effectuation of the purpose of this article, including real or personal property devoted to public use.
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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-71 - Acquisition, maintenance, and operation of tollway projects; collection of parking fees for public beaches

(a)
The authority is authorized and empowered to acquire, maintain, repair, improve, and operate a tollway project whose status at the time of acquisition is a toll facility or which was operated as a toll facility at some point in its existence. For the purpose of earning sufficient revenue to make possible the maintenance, repair, and improvement of the acquired project, the authority is authorized to collect tolls on each and every project it acquires.
(b)
When an existing state tollway facility has been acquired from a local government by the authority or the department, and the state tollway facility provides access to an island with public beaches that are in need of maintenance, repair, or restoration, the State Road and Tollway Authority may assist the local government in the collection of a parking fee for each vehicle entering the island. The local government is authorized to set a fee on roads, streets, and parking facilities owned by the local government for such purposes and may contract with the authority to collect the fee. The department is authorized to assist the authority in the collection of the fee. The local government shall reimburse the department and the authority for any costs associated with executing the terms of the contract.
(c)
When a state highway provides access to an island with public beaches that are in need of maintenance, repair, or restoration, the Department of Transportation may, if consistent with federal law and regulations, authorize the local government to set and collect a parking fee for the purpose of providing funding for such maintenance, repair, or restoration. The department is authorized to allow the authority to collect such parking fee on the state highway system, provided that the collection point shall lie within the corporate limits of the local government setting the parking fee. The authority is authorized to contract with the local government for the collection of the fee. The local government shall reimburse the authority for any costs associated with executing the terms of the contract.
Amended by 2001 Ga. Laws 389, § 2-1, 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-72 - Authority fund for excess toll and other revenue

All revenue in excess of all obligations of the authority of any nature, together with all unused receipts and gifts of every kind and nature whatsoever, shall be and become the authority fund. The authority, in its discretion, is charged with the duty of pledging, utilizing, or expending the authority fund for the following purposes:
(1)
Pledges to the payment of any revenue bond issue requirements, sinking or reserve funds, as may be provided for under Code Section
32-10-102
;
(2)
The payment of any outstanding unpaid revenue bond obligations or administrative expenses;
(3)
The construction of all or any part of projects, the need for which is concurred in by the Governor and the board;
(4)
The most advantageous obtainable redemptions and retirements of the authority's bonds pursuant to the prepayment redemption privileges accorded to the authority upon the various issues of bonds outstanding;
(5)
The most advantageous open market purchase of the authority's bonds that the authority may accomplish;
(6)
Investment in such securities and in such manner as it determines to be in its best interest; and
(7)
Subject to the terms of any resolution or trust indenture authorizing the issuance of revenue bonds, the transfer of funds to the department to be used by the department for department purposes.
Amended by 2001 Ga. Laws 389, § 1-11, 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-73 - Designation of moneys received pursuant to article as trust funds

All moneys received pursuant to the authority of this article, whether as proceeds from the sale of revenue bonds or as revenues, tolls, and earnings, shall be deemed to be trust funds to be held and applied solely as provided in this article. The bondholders paying or entitled to receive the benefits of such bonds shall have a lien on all such funds until applied as provided for in any resolution or trust indenture of the authority, provided that revenue bonds issued for the use and benefit of a person, firm, corporation, limited liability company, or other type of private entity shall be a limited obligation of the authority and in the event of default, the remedies of the bondholders shall be limited to the funds identified in the resolution or trust indenture and not the funds held by the authority as trust funds or otherwise.
Amended by 2017 Ga. Laws 270,§ 5, 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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-74 - Effect of article

This article shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws and shall not be regarded as in derogation of any powers now existing.
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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-75 - Construction of article

This article, being for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes of this article.
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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-76 - [Reserved]

Amended by 2021 Ga. Laws 307,§ 32, eff. 5/10/2021.
Amended by 2018 Ga. Laws 409,§ 4-13, eff. 5/3/2018.
Renumbered as §
50-39-53
by 2018 Ga. Laws 409,§ 4-4, eff. 7/1/2021.
Added by 2006 Ga. Laws 609,§ 2, eff. 4/27/2006.
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 1 - GENERAL PROVISIONS (§§ 32-10-60 — 32-10-77) › Section 32-10-77 - General Assembly approval of funding for street car projects

No funding by issuing bonds, any other state funds, or federal funds administered by the Department of Transportation shall be allowed for streetcar projects by any state entity or authority, including, but not limited to, the Department of Transportation or the State Road and Tollway Authority, or any other subsidiary of the state, without specific prior approval by passage of a general Act by the General Assembly.
Added by 2006 Ga. Laws 609,§ 3, eff. 4/27/2006.
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 32-10-90 - Form and issuance of bonds; pledging of tolls and other project revenues

The authority shall have the power and is authorized, at one time or from time to time, to provide by resolution for the issuance of negotiable revenue bonds of the authority for the purpose of paying all or any part of the cost, as defined in paragraph (4) of Code Section
32-10-60
, of any one or a combination of projects. The principal and interest of such revenue bonds shall be payable from and may be secured by a pledge of tolls and other revenues of all or any part of the project financed in whole or in part with the proceeds of such issue or with the proceeds of bonds refunded or to be refunded by such issue or by a pledge of any other revenues of the authority that are legally available for such purpose. The bonds of each issue shall be dated, shall bear interest as provided for in Code Section
32-10-91
, shall mature not later than 40 years from the date of issue, shall be payable in such media of payments as to both principal and interest as may be determined by the authority, and may be made redeemable before maturity, at the option of the authority, at such price or prices and under such terms and conditions as may be fixed by the authority in the resolution providing for the issuance of the bonds.
Amended by 2001 Ga. Laws 389, § 1-12, 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 32-10-90.1 - Garvee bond provisions

(a)
As used in this Code section, the term "grant anticipation revenue vehicle" or "garvee bond" means any bond issued by the authority which is an eligible debt financing instrument within the scope of
23 U.S.C. Section 122
or which is otherwise to be repaid or reimbursed in whole or in part, directly or indirectly, from federal funds.
(b)
With respect to garvee bonds and projects financed by garvee bonds, the provisions and limitations of this Code section shall control over any other conflicting provisions of this article, it being the intention of the General Assembly that grant anticipation revenue vehicles and projects funded thereby be fully subject to the terms expressed in this Code section.
(c)
For the purpose of issuance and use of the proceeds of garvee bonds, the authority and the department shall give priority, as far as reasonably practicable in the judgment of the department, to the completion of those portions of the Developmental Highway System as set out in paragraphs (1) through (13) and paragraphs (15) and (16) of subsection (a) of Code Section
32-4-22
and such further paragraphs as may be added to such subsection from time to time, with due regard to the timely and economical completion of the portion set out in paragraph (14) thereof.
(d)
Any project the cost of which is paid from the proceeds of garvee bonds shall be, pursuant to a contract or agreement between the authority and the department, planned, designed, and constructed by the Department of Transportation or a contractor contracting with the Department of Transportation.
(e)
If during any state fiscal year the amount of federal reimbursement available to the State of Georgia under
23 U.S.C. Section 122
is or will be reduced below 90 percent of the amount available during Fiscal Year 2000-2001, the authority shall not thereafter issue any garvee bond.
(f)
If cost effective as determined by the authority, garvee bonds shall be insured.
Added by 2001 Ga. Laws 389, § 1-12.1, 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 32-10-91 - Obtaining of loans and issuance and sale of notes and bonds; sale of obligations

The authority may authorize by resolution the following: the obtaining of loans; the issuance and sale of notes; and the issuance and sale of bonds. The foregoing obligations may be offered at public or private sale in such manner and for such interest rate and at such price as the authority may determine to be in the best interests of the authority and the state, provided that any offering is subject to the review and approval of the Georgia State Financing and Investment Commission pursuant to the provisions of Article 2 of Chapter 17 of Title 50.
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 32-10-92 - Bonds authorized by resolution; specification of terms; public or private sale

Bonds issued by the authority shall be authorized by resolution of the authority, be in such denominations, bear such date or dates, and mature at such time or times within 40 years from the issuance thereof as the authority determines to be appropriate. Such bonds shall be subject to such terms of redemption, bear interest at such rate or rates payable at such times, be in registered form or book-entry form through a securities depository, or both, as to principal or interest or both principal and interest, carry such registration privileges, be executed in such manner, be payable in such medium of payment at such place or places, and be subject to such terms and conditions as such resolution of the authority may provide; provided, however, in lieu of specifying the rate or rates of interest which the bonds to be issued by an authority are to bear, the resolution of the authority may provide that the bonds when issued will bear interest at a rate not exceeding a maximum per annum rate of interest which may be fixed or may fluctuate or otherwise change from time to time as specified in the resolution or may state that, in the event the bonds are to bear different rates of interest for different maturity dates, none of such rates will exceed the maximum rate, which rate may be fixed or may fluctuate or otherwise change from time to time, as specified. Bonds may be sold at public or private sale for such price or prices as the authority shall determine.
Amended by 2001 Ga. Laws 389, § 1-13, eff. 4/30/2001.