06 LC 25
4187
House
Bill 1161
By:
Representatives Greene of the
149th
and Hanner of the
148th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
create the Southwest Georgia Technology Authority, so as to provide for
communication systems projects in Clay, Quitman, Randolph, and Stewart counties;
to provide for a short title; to provide for definitions; to provide for
membership; to provide for a governing board and its terms, organization,
vacancies, and meetings; to provide for the powers and duties of the authority;
to provide for services, procurement, and bonding; to provide for revenue bonds
and their form, interest rates, denominations, payment, signatures,
negotiability, exemption from taxation, sale, proceeds, interim bonds, and
replacement; to provide for conditions for issuance of bonds and that they will
not constitute certain debts; to provide for trust indentures, sinking fund, and
payment of proceeds; to provide for bondholder remedies and interests, refunding
bonds, venue and jurisdiction, and bond validation; to provide for trust funds,
charges, rules and regulations, and other reports; to provide for tax
exemptions; to provide for supplemental powers, liberal construction, and powers
of other governmental entities; to provide for tort immunity; to provide for
related matters; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
This
Act shall be known and may be cited as the "Southwest Georgia Technology
Authority Act."
SECTION
2.
(a)
As used in this Act, the term:
(1)
"Authority" shall mean the Southwest Georgia Technology Authority created by
Section 3 of this Act.
(2)
"Cost of the project" means the cost of planning, design, and construction, the
cost of all lands, properties, rights, easements, and franchises acquired, the
cost of all buildings, machinery and equipment, financing charges, interest
prior to and during construction, and for one year after completion of
construction, cost of compliance with environmental regulations and
environmental protection, cost of engineering, architectural, fiscal, and legal
expenses, cost of plans and specifications, and other costs necessary or
incident to determining the feasibility or practicability of any project,
administrative costs, and such other costs as may be necessary or incident to
the financing authorized in this Act, the construction of any project, the
placing of the same in operation, and the condemnation of property necessary for
such construction and operation. Any obligation or cost incurred for any of the
foregoing purposes shall be regarded as a part of the cost of the project and
may be paid or reimbursed as such out of the proceeds of revenue bonds,
certificates, or other obligations issued under the provisions of this Act for
such project.
(3)
"Project" means and includes the planning, design, acquisition, construction,
and equipping of communication cables, sleeves, and systems for the distribution
and sale of communication services to private and public users and consumers,
including but not limited to broadband, Internet, cable television, and
associated services to the state, counties, and municipalities, within the
territorial boundaries of Clay, Quitman, Randolph, and Stewart counties, and
additions and improvements to and extensions of such facilities and the
operation and maintenance of same.
(4)
"Public authority" means any entity which is created by the laws of the State of
Georgia, which is designated as an authority, and which provides services or
facilities to the public.
(5)
"Revenue bonds" and "bonds" shall mean revenue bonds, certificates, and other
obligations of the authority, as defined and provided for in Article 3 of
Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond Law," and such type of
obligations may be issued by the authority as authorized under said article. In
addition, such terms shall also mean obligations of the authority, the issuance
of which is specifically provided for in this Act.
(6)
"State" means the State of Georgia.
(b)
Any project shall be deemed self-liquidating if, in the judgment of the
authority, the revenues and earnings to be derived by the authority therefrom
will be sufficient to pay the costs of operating, maintaining, repairing,
improving, and extending the project and to pay the principal and interest of
the revenue bonds which may be issued for the cost of such project or
projects.
SECTION
3.
(a)
There is created a body corporate and politic, to be known as the Southwest
Georgia Technology Authority, which shall be a political subdivision of the
state and a public corporation and by that name, style, and title said body may
contract and be contracted with, bring and defend actions, sue and be sued,
implead and be impleaded, and complain and defend in all courts. The authority
shall make rules and regulations for its own government and shall have perpetual
existence.
(b) The authority shall consist of nine members as follows:
(b) The authority shall consist of nine members as follows:
(1)
Two residents of Clay County appointed by the governing authority of Clay
County;
(2)
Two residents of Quitman County appointed by the governing authority of Quitman
County;
(3)
Two residents of Randolph County appointed by the governing authority of
Randolph County;
(4)
Two residents of Stewart County appointed by the governing authority of Stewart
County; and
(5)
One appointed by the other members of the authority.
Each
member shall serve for a four-year term and until a successor is appointed and
qualified, except for the members initially appointed as provided by this Act.
The initial members appointed under paragraphs (1), (3), and (5) of this
subsection shall serve for terms of four years each and until their successors
are appointed and qualified. The initial members appointed under paragraphs (2)
and (4) of this subsection shall serve for terms of two years each and until
their successors are appointed and
qualified.
(c) Any member of the authority may be selected and appointed to succeed himself or herself. Immediately after such appointments and ratification, the members of the authority shall enter upon their duties. Any vacancy on the authority shall be filled by appointment by the entity originally appointing the member whose termination of membership resulted in such vacancy, and the person so appointed and ratified shall serve for the remainder of the unexpired term. The authority shall elect one of its members as chairperson and another as vice chairperson. The authority shall also elect a secretary and a treasurer or a secretary-treasurer, each of which does not necessarily have to be a member of the authority; and if not a member he or she shall have no voting rights. Each member of the authority shall be reimbursed for all actual expenses incurred in the performance of his or her duties.
(d) Five members of the authority shall constitute a quorum, and any action may be taken by the authority upon the affirmative vote of a majority of a quorum of the members; provided, however, that the approval for the matters set forth in subsection (e) of this section shall require the affirmative vote of at least five members of the authority. No vacancy on the authority shall impair the right of the quorum to exercise all the rights and perform all the duties of the authority.
(e) The matters requiring five affirmative votes for approval are as follows:
(c) Any member of the authority may be selected and appointed to succeed himself or herself. Immediately after such appointments and ratification, the members of the authority shall enter upon their duties. Any vacancy on the authority shall be filled by appointment by the entity originally appointing the member whose termination of membership resulted in such vacancy, and the person so appointed and ratified shall serve for the remainder of the unexpired term. The authority shall elect one of its members as chairperson and another as vice chairperson. The authority shall also elect a secretary and a treasurer or a secretary-treasurer, each of which does not necessarily have to be a member of the authority; and if not a member he or she shall have no voting rights. Each member of the authority shall be reimbursed for all actual expenses incurred in the performance of his or her duties.
(d) Five members of the authority shall constitute a quorum, and any action may be taken by the authority upon the affirmative vote of a majority of a quorum of the members; provided, however, that the approval for the matters set forth in subsection (e) of this section shall require the affirmative vote of at least five members of the authority. No vacancy on the authority shall impair the right of the quorum to exercise all the rights and perform all the duties of the authority.
(e) The matters requiring five affirmative votes for approval are as follows:
(1)
Amending the bylaws of the authority;
(2)
The purchase, sale, lease, exchange, or other disposition of real
property;
(3)
Issuance of revenue obligations or revenue bonds; or
(4)
Authorization of projects or undertakings as those terms are defined herein and
in Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond
Law."
SECTION
4.
The
authority is authorized:
(1)
To have a seal and alter the seal at pleasure;
(2)
To acquire by purchase, lease, or otherwise and to hold, lease, and dispose of
real and personal property of every kind and character for its corporate
purposes;
(3)
To acquire in its own name by purchase on such terms and conditions and in such
manner as it may deem proper, or by condemnation in accordance with the
provisions of any and all existing laws applicable to the condemnation of
property for public use, real property, rights, or easements therein or
franchises necessary or convenient for its corporate purposes, to use the same
so long as its corporate existence shall continue, and to lease or make
contracts with respect to the use of or to dispose of the same in any manner
deemed by the board to be to the best advantage of the authority, the authority
being under no obligation to accept and pay for any property condemned under
this Act except from the funds provided to the authority under this Act; and in
any proceedings to condemn, such orders may be made by the court having
jurisdiction of the suit, action, or proceedings as may be just to the authority
and to the owners of the property to be condemned; and no property shall be
acquired under the provisions of this Act upon which any lien or other
encumbrance exists, unless at the time such property is so acquired a sufficient
sum of money is deposited in trust to pay and redeem the fair value of such lien
or encumbrance. If the authority shall deem it expedient to construct any
project on any lands the title to which shall then be in Clay, Quitman,
Randolph, or Stewart County or in any municipality incorporated in any such
county, the governing authority or body of such county or of any of such
municipality is hereby authorized to convey title to such lands to the authority
upon payment for the credit of the general funds of such county or municipality
the reasonable value of such lands. The authority shall have the nonexclusive
right, easement, and franchise of laying communication cables along the highways
in Clay, Quitman, Randolph, or Stewart County, or in the corporate limits of any
municipality incorporated in any such county, without cost; provided, however,
that the authority shall repair all damage done by the authority by reason
thereof;
(4)
To appoint, select, and employ officers, agents, and employees, including
engineering, architectural, construction, and experts, fiscal agents, attorneys,
and other professionals and fix their respective compensation;
(5)
To make contracts and leases and to execute all instruments necessary or
convenient to carry out the purposes of this Act, including contracts for
construction of projects and leases of projects or contracts with respect to the
use of projects which it causes to be constructed or acquired, and any and all
persons, firms, and corporations and any and all political subdivisions,
departments, institutions, or agencies of the state are authorized to enter into
contracts, leases, or agreements with the authority upon such terms and for such
purposes as they deem advisable; and without limiting the generality of the
above, authority is specifically granted to the authority to enter into
contracts, lease agreements, or other undertakings relative to the furnishing of
services and facilities by the authority to such municipal corporations,
counties, political subdivisions, corporations, or individuals for a term not
exceeding 50 years;
(6)
To plan, design, construct, erect, acquire, own, lease, repair, remodel,
maintain, add to, extend, improve, equip, operate, and manage projects as
defined in paragraph (3) of subsection (a) of Section 2 of this Act, the cost of
any such project to be paid in whole or in part from the proceeds of revenue
bonds of the authority, from revenues available from contracting for services,
or from such proceeds and any grant from the United States of America, the State
of Georgia, or any agency or instrumentality thereof; provided, however, that in
delivering cable service the authority shall comply with applicable provisions
of Chapter 90 of Title 36 of the O.C.G.A., the "Local Government Cable Fair
Competition Act of 1999";
(7)
To accept loans and grants of money, materials, or property of any kind from the
United States of America, the State of Georgia, or any political subdivision,
agency, or instrumentality thereof upon such terms and conditions as the United
States of America, the State of Georgia, or such political subdivision, agency,
or instrumentality may impose;
(8)
To borrow money for any of its corporate purposes, to issue revenue bonds
payable solely from funds pledged for that purpose; and to provide for the
payment of the same and for the rights of the holders thereof;
(9)
To exercise any power which is usually possessed by private corporations
performing similar functions and which is not in conflict with the Constitution
and laws of this state;
(10)
To purchase policies of insurance as may be deemed appropriate for its corporate
purposes;
(11)
To apply for and accept any and all local, state, or federal permits necessary
and convenient for its corporate purposes;
(12)
To appoint a technical advisory group or such other committees as circumstances
might require; and
(13)
To do all things necessary or convenient to carry out the powers expressly given
in this Act.
SECTION
5.
The
authority shall adopt regulations and requirements for the procurement of goods
and services as are reasonable and necessary and consistent with requirements of
state law.
SECTION
6.
The
authority shall adopt regulations and requirements to bonds from contractors who
are awarded contracts by the authority as are reasonable and necessary and
consistent with requirements of state law.
SECTION
7.
The
authority, or any public authority or body which had or which may in the future
succeed to the powers, duties, and liabilities vested in the authority created
by this Act, is authorized, at one time or from time to time, to provide by
resolution for the issuance of revenue bonds of the authority for the purpose of
paying all or any part of the cost of any one or more projects. The principal
and interest of such revenue bonds shall be payable solely from the special fund
provided in Section 19 of this Act for such payment. The bonds of each issue
shall be dated, shall bear interest at such rate or rates, shall be payable,
shall mature at such time or times not to exceed 50 years from their date or
dates, shall be payable in such medium of payment as to both principal and
interest, and may be made redeemable before maturity, at such price or prices,
and under such terms and conditions as may be determined by the authority in the
resolution providing for the issuance of the bonds.
SECTION
8.
The
authority shall determine the form of the bonds and shall fix the interest
rates, denomination or denominations of the bonds, and the place or places of
payment of principal and interest thereof, which may be at any bank or trust
company inside or outside the state. The bonds may be issued in bearer or
registered form, or both, as the authority may determine, and provision may be
made for the registration of any bond as to principal alone or also as to both
the principal and interest.
SECTION
9.
All
revenue bonds shall bear the manual or facsimile signature of the chairperson of
the authority and attested by the manual or facsimile signature of the secretary
of the authority and the official seal of the authority or a facsimile thereof
shall be affixed thereto, and any coupons attached thereto shall bear the
facsimile signatures of the chairperson and secretary of the authority. Any
coupon may bear the facsimile signatures of such persons and any bond may be
signed, sealed, and attested on behalf of the authority by such person as at the
actual time of the execution of such bonds shall be duly authorized or hold the
proper office, although at the date of such bonds such persons may not have been
so authorized or shall not have held such office. In the event an officer whose
signature appears on any bonds or coupon ceases to be such officer before
delivery of such bonds, such signature shall nevertheless be valid and
sufficient for all purposes the same as if the officer had remained in office
until such delivery.
SECTION
10.
All
revenue bonds issued under this Act 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 and the income thereof shall be exempt
from all taxation within this state.
SECTION
11.
The
authority may sell such bonds in such a manner and for such price as it may
determine to be for the best interest of the authority, but no such sale shall
be made at a price so low as to require the payment of interest on the money
received therefor at a greater rate than the interest allowed by Article 3 of
Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond Law," computed with
relation to the absolute maturity of the bonds in accordance with standard
tables of bond values, excluding, however, from such computation the amount of
any premium to be paid on redemption of any bond prior to maturity.
SECTION
12.
The
proceeds of such bonds shall be used solely for the payment of the cost of the
project or projects and, unless otherwise provided in the resolution authorizing
the issuance of the bonds or in the trust indenture, additional bonds may be
issued in like manner to provide the amount of such deficit, which, 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 fund without preference
or priority of the bonds first issued for the same purpose.
SECTION
13.
Prior
to the preparation of definitive bonds, the authority may issue interim
receipts, interim certificates, or temporary bonds, with or without coupons
exchangeable for definitive bonds upon the issuance of the later.
SECTION
14.
The
authority may also provide for the replacement of any bond which shall become
mutilated or be destroyed or lost.
SECTION
15.
Such
revenue bonds may be issued 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 Act. In the discretion of the
authority, revenue bonds of a single issue may be issued for the purpose of any
particular project. Any resolution providing for the issuance of revenue bonds
under this Act 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 its board member at any meeting
where a quorum is present and voting requirements are met.
SECTION
16.
Revenue
bonds issued under the provisions of this Act shall not be deemed to constitute
a debt of this state, or any county or municipality thereof, or any public
authority except the authority created by this Act, nor shall such bonds be
deemed a pledge of the faith and credit of this state, any county or
municipality thereof, or any public authority except the authority created by
this Act, but such bonds shall be payable solely from the fund provided for in
this Act; and the issuance of such revenue bonds shall not directly, indirectly,
or contingently obligate this state, or any county or municipality thereof, to
levy or to pledge any form of taxation whatever therefor or to make any
appropriation for the payment of such bonds; and all such bonds shall contain
recitals on their face covering substantially the foregoing provisions of this
section.
SECTION
17.
In
the discretion of the authority, any issue of such revenue bonds may be secured
by a resolution or a trust indenture by and between the authority and a
corporate trustee, which may be any foreign or domestic trust company or bank
having the powers of a trust company. Such resolution or trust indenture may
pledge or assign fees, tolls, revenues, and earnings to be received by the
authority. Either the resolution providing for the issuance of revenue bonds or
such trust indenture may contain such provisions for protecting and enforcing
the rights and remedies of the bondholders as may be reasonable and proper and
not in violation of law, including covenants setting forth the duties of the
authority in relation to the acquisition of property, the construction of the
project, the maintenance, operation, repair, and insurance of the project, and
the custody, safeguarding, and application of all moneys and may also provide
that any project shall be constructed and paid for under the supervision and
approval of registered professional consulting engineers of the State of Georgia
or architects employed or designated by the authority and satisfactory to the
original purchasers of the bonds issued therefor and 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. 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 board. Such resolution or 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 resolution or trust indentures
securing bonds and debentures of corporations. In addition to the foregoing,
such resolution or trust indenture may contain such other provisions as the
board may deem reasonable and proper for the security of the bondholders. All
expenses incurred in carrying out such resolution or trust indenture may be
treated as a part of the cost of maintenance, operation, and repair of the
project affected by such indenture.
SECTION
18.
In
the resolution providing for the issuance of revenue bonds or in the trust
indenture, the authority shall 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, custodian, or depository of such funds and
shall hold and apply the same to the purposes for which such bonds were issued,
subject to such regulations as this Act and such resolution or trust indenture
may provide.
SECTION
19.
The
revenues, fees, and earnings derived from any particular project or projects,
regardless of whether or not such fees, earnings, and revenues were produced by
a particular project for which bonds have been issued unless otherwise pledged
and allocated, may be pledged and allocated by the authority to the payment of
the principal and interest on revenue bonds of the authority as the resolution
authorizing the issuance of the bonds or the trust instrument may provide; and
such funds so pledged from whatever source received, which said pledge may
include funds received from one or more or all sources, shall be set aside at
regular intervals, as may be provided in the resolution or trust indenture, into
a sinking fund, which sinking fund 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 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
Act.
The
use and disposition of such sinking fund shall be subject to such regulations as
may be provided in the resolution authorizing the issuance of the revenue bonds
or in the trust indenture, except as may otherwise be provided in such
resolution or trust indenture. Such sinking fund shall be a fund for the
benefit of all revenue bonds without distinction or priority of one over
another. Subject to the provisions of the resolution authorizing the issuance
of the bonds or the trust indenture, surplus moneys in the sinking fund may be
applied to the purchase or redemption of bonds. Any such bonds so purchased or
redeemed shall forthwith be canceled and shall not again be issued.
SECTION
20.
Any
holder of revenue bonds issued under this Act or any coupons appertaining
thereto and the trustee under the trust indenture, if any, except to the extent
the rights given in this Act may be restricted by the resolution passed before
the issuance of the bonds or by the trust indenture, may, either at law or in
equity, by suit, action, mandamus, or other proceedings, protect and enforce any
and all rights under the laws of the State of Georgia or granted under this Act
or under such resolution or trust indenture and may enforce and compel
performance of all duties required by this Act or by such resolution or trust
indenture, and may enforce and compel performance of all duties required by this
Act or by such resolution or trust indenture to be performed by the authority or
any officer thereof, including the fixing, charging, and collecting of revenues,
fees, tolls, and other charges for the use of the facilities and services
furnished.
SECTION
21.
The
authority is authorized to provide by resolution of its board for the issuance
of revenue refunding bonds of the authority for the purpose of funding or
refunding any revenue bonds issued under this Act and then outstanding, together
with accrued interest and premium, if any, thereon. The issuance of such
revenue funding or refunding bonds, the maturities, all other details thereof,
the rights of the holders, and the duties of the authority with respect to the
same shall be governed by the foregoing provisions of this Act insofar as the
same may be applicable.
SECTION
22.
Any
action to protect or enforce any rights under this Act or any suit or action
against the authority shall be brought in the Superior Court of Clay, Quitman,
Randolph, or Stewart County, Georgia, and any action pertaining to validation
of any bonds issued under this Act shall likewise be brought in said court,
which shall have exclusive jurisdiction of such actions.
SECTION
23.
Bonds
of the authority shall be confirmed and validated in accordance with the
procedure of Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue
Bond Law." The petition for validation shall also make a party defendant to
such action any municipality, county, public authority, subdivision, or
instrumentality of the State of Georgia which has contracted with the authority
for furnishing or receiving the services and facilities of the project for which
bonds are to be issued and sought to be validated, and such municipality,
county, public authority, subdivision, or instrumentality shall be required to
show cause, if any, why such contract or contracts and the terms and conditions
thereof should not be inquired into by the court, the validity of the terms
thereof be determined, and the contract or contracts adjudicated as security for
the payment of any such bonds of the authority. The bonds, when validated, and
the judgement of validation, shall be final and conclusive with respect to such
bonds against the authority issuing the same and any municipality, county,
public authority, subdivision, or instrumentality contracting with the
authority.
SECTION
24.
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 right of the holders of such bonds, and no other entity, department, agency,
or public authority will be created which will compete with the authority to
such an extent as to affect adversely the interests and rights of the holders of
such bonds nor will the state itself so compete with the authority. The
provisions of this Act shall be for the benefit of the authority and the holders
of any such bonds and, upon the issuance of bonds under the provisions of this
Act, shall constitute a contract with the holders of such bonds.
SECTION
25.
All
moneys received by the authority pursuant to this Act, whether as proceeds from
the sale of revenue bonds, as grants, or other contributions, or as revenues,
fees, and earnings, shall be deemed to be trust funds to be held and applied
solely as provided in this Act.
SECTION
26.
The
authority is authorized to prescribe, fix, and collect rates, fees, or charges
and to revise from time to time and collect such rates, fees, or charges for the
services, facilities, or commodities furnished and, in anticipation of the
collection of the revenues of such undertaking or project, to pay from current
revenues and issue revenue bonds as provided in this Act to finance in whole or
in part the cost of the project and to pledge to the punctual payment of said
bonds and interest thereon all or any part of the revenues of such undertakings
or projects, including the revenues of improvements, betterments, or extensions
subsequently made to the system.
SECTION
27.
It
shall be the duty of the board to prescribe rules and regulations for the
operation of the project or projects constructed under the provisions of this
Act, including the basis on which communication services and facilities shall be
furnished.
SECTION
28.
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 constitute a public purpose and that the authority
will be performing an essential governmental function in the exercise of the
powers conferred upon it by this Act. The authority therefore shall be required
to pay no taxes or assessment upon any of the property acquired by it or under
its jurisdiction, control, possession, or supervision or upon its activities in
the operation or maintenance of the facilities erected, maintained, or acquired
by it or any fees, rentals, or other charges for the use of such facilities or
other income received by the authority.
SECTION
29.
The
foregoing sections of this Act shall be deemed to provide an additional and
alternative method for doing the things authorized thereby, shall be regarded as
supplemental and additional to powers conferred by other laws, and shall not be
regarded as being in derogation of any powers now existing.
SECTION
30.
This
Act, being for the welfare of various political subdivisions of the state and
its inhabitants, shall be liberally construed to effect the purposes
hereof.
SECTION
31.
This
Act does not in any way take from Clay, Quitman, Randolph, or Stewart County or
any municipality located within any such county the power to own, operate, and
maintain communications systems or issue revenue certificates as is provided by
Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond Law."
SECTION
32.
The
authority shall be immune and exempt from liability for torts and negligence to
the same extent as Clay, Quitman, Randolph, and Stewart counties; and the
officers, agents, and employees of the authority, when in the performance of the
work of the authority, shall be immune and exempt from liability for torts and
negligence to the same extent as employees of such counties.
SECTION
33.
All
laws and parts of laws in conflict with this Act are repealed.