06 LC
35 0069
House
Bill 1300
By:
Representatives Henson of the
87th,
Watson of the
91st,
Willard of the
49th,
Wilkinson of the
52nd,
Stephenson of the
92nd,
and others
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 36-75-7 of the Official Code of Georgia Annotated, relating
to the power and authority of public safety and judicial facilities authorities,
so as to raise the aggregate amount of bonds that may be issued; to provide for
related matters; to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 36-75-7 of the Official Code of Georgia Annotated, relating to the power
and authority of public safety and judicial facilities authorities, is amended
by striking paragraph (13) and inserting in its place a new paragraph (13) to
read as follows:
"(13)
To borrow money and issue its revenue bonds and bond anticipation notes from
time to time and to use the proceeds thereof for the purpose of paying all or
part of the cost of any project, including the cost of extending, adding to, or
improving such project, or for the purpose of refunding any such bonds of the
authority theretofore issued; and to otherwise carry out the purposes of this
chapter and to pay all other costs of the authority incident to, or necessary
and appropriate to, such purposes, including the providing of funds to be paid
into any fund or funds to secure such bonds and notes, provided that all such
bonds and notes shall be issued in accordance with the procedures and subject to
the limitations set forth in Code Section 36-63-9; provided, however, that the
maximum aggregate amount of bonds issued shall be
$50
$80
million;
and"
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.