Bill Text: GA HB1193 | 2011-2012 | Regular Session | Introduced

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Bill Title: Monroe County Public Facilities Authority Act; limiting authority to issue revenue bonds to four years; repeal certain provisions

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2012-04-11 - Effective Date [HB1193 Detail]

Download: Georgia-2011-HB1193-Introduced.html

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12 LC 21 1587/AP

House Bill 1193 (AS PASSED HOUSE AND SENATE)

By: Representatives Dickey of the 136th and Holmes of the 125th

A BILL TO BE ENTITLED
AN ACT

To amend an Act entitled "Monroe County Public Facilities Authority Act," approved May 14, 2008 (Ga. L. 2008, p. 4432), so as to repeal certain provisions limiting such authority's authority to issue revenue bonds to four years; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

Act entitled "Monroe County Public Facilities Authority," approved May 14, 2008 (Ga. L. 2008, p. 4432), is amended by revising paragraphs (12) and (16) of Section 4 as follows:

"(12) To borrow money for any of its corporate purposes and to issue revenue bonds, notes, or other types of indebtedness payable solely from funds or revenues of the authority pledged for that purpose and to pledge and assign any of its revenues, income, rent, charges, and fees to provide for the payment of the same and to provide for the rights of the holders of such revenue bonds;"

"(16) To issue its revenue bonds, notes, or other obligations to finance or refinance any project which may be financed by the county under the Revenue Bond Law of the State of Georgia."

SECTION 2.

All laws and parts of laws in conflict with this Act are repealed.