06 LC 28
3002
House
Bill 1515
By:
Representatives Lane of the
167th,
Keen of the
179th,
and Hill of the
180th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
provide for the creation of a community improvement district in Glynn County; to
provide for a short title; to provide for the purposes of said district; to
provide for definitions; to provide for a board to administer said district; to
provide for the appointment and election of members of said board; to provide
for taxes, fees, and assessments; to provide for the boundaries of said
district; to provide for debt of said district other than bonded indebtedness;
to provide for cooperation with local governments; to provide for powers of said
board; to provide for construction; to provide that no notice, proceeding,
publication, or referendum shall be required; to provide for dissolutions; to
provide the procedures connected with all of the foregoing; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Short title.
Short title.
This
Act shall be referred to as the "Turtle River Glynn County Community Improvement
Districts Act."
SECTION
2.
Purpose.
Purpose.
The
purpose of this Act shall be to provide for the creation of a community
improvement district within Glynn County, and said district shall be created for
the provision of some or all of the following governmental services and
facilities:
(1)
Street and road construction and maintenance, including curbs, sidewalks, street
lights, and devices to control the flow of traffic on streets and
roads;
(2)
Parks and recreational areas and facilities;
(3)
Storm water and sewage collection and disposal systems;
(4)
Development, storage, treatment, purification, and distribution of
water;
(5)
Public transportation, including, but not limited to, services intended to
reduce the volume of automobile traffic, to transport two or more persons in
conveyances, to improve air quality, and to provide bicycle and pedestrian
facilities and the operation of a traffic management association or similar
entity;
(6)
Terminal and dock facilities and parking facilities; and
(7)
Such other services and facilities as may be provided for by general
law.
SECTION
3.
Definitions.
Definitions.
As
used in this Act, the term:
(1)
"Agricultural" means the growing of crops for sale or the raising of animals for
sale or use, including the growing of field crops, fruit or nut trees, the
raising of livestock or poultry, and the operation of dairies, horse boarding
facilities, and riding stables.
(2)
"Board" means the governing body created for the governance of the community
improvement district herein authorized.
(3)
"Bonds" or "general obligation bonds" means any bonds of the district which are
authorized to be issued under the Constitution and laws of Georgia, including
refunding bonds but not including notes or other obligations of the
district.
(4)
"Caucus of electors" means for the district the meeting of electors hereinafter
provided for at which the elected board members of the district are elected. A
quorum at such caucus shall consist of those electors present, and a majority of
those present and voting is necessary to elect board members. No proxy votes
may be cast.
(5)
"Cost of the project" or "cost of any project" means and includes:
(A)
All costs of acquisition (by purchase or otherwise), construction, assembly,
installation, modification, renovation, or rehabilitation incurred in connection
with any project or any part of any project;
(B)
All costs of real property, fixtures, or personal property used in or in
connection with or necessary for any project or for any facilities related
thereto, including, but not limited to, the cost of all land, estates for years,
easements, rights, improvements, water rights, connections for utility services,
fees, franchises, permits, approvals, licenses, and certificates; the cost of
securing any such franchises, permits, approvals, licenses, or certificates; the
cost of preparation of any application therefor; and the cost of all fixtures,
machinery, equipment (including all transportation equipment and rolling stock),
furniture, and other property used in or in connection with or necessary for any
project;
(C)
All financing charges and loan fees and all interest on notes or other
obligations of the district which accrue or are paid prior to and during the
period of construction of a project and during such additional period as the
board may reasonably determine to be necessary to place such project in
operation;
(D)
All costs of engineering, surveying, architectural, and legal services and all
expenses incurred by engineers, surveyors, architects, and attorneys in
connection with any project;
(E)
All expenses for inspection of any project;
(F)
All expenses of or incidental to determining the feasibility or practicability
of any project;
(G)
All costs of plans and specifications for any project;
(H)
All costs of title insurance and examinations of title with respect to any
project;
(I)
Repayment of any loans made for the advance payment of any part of the foregoing
costs, including interest thereon and any other expenses of such
loans;
(J)
Administrative expenses of the board and such other expenses as may be necessary
for or incidental to any project or the financing thereof or the placing of any
project in operation; and
(K)
The establishment of a fund or funds for the creation of a debt service reserve,
a renewal and replacement reserve, or such other funds or reserves as the board
may approve with respect to the financing and operation of any project and as
may be authorized by any bond resolution, trust agreement, indenture of trust,
or similar instrument or agreement pursuant to the provisions of which the
issuance of any bonds, notes, or other obligations of the district may be
authorized.
Any
cost, obligation, or expense incurred for any of the foregoing purposes shall be
a part of the cost of the project and may be paid or reimbursed as such out of
the proceeds of notes or other obligations issued by the district.
(6)
"District" means the geographical area designated as such by the resolution of
the governing body or bodies consenting to the creation of the community
improvement district or as thereafter modified by any subsequent resolution of
the governing body or bodies within which the district is or is to be located,
or a body corporate and politic being a community improvement district created
and activated pursuant hereto, as the context requires or permits.
(7)
"Electors" means the owners of real property within the district which is
subject to taxes, fees, and assessments levied by the board, as they appear on
the most recent ad valorem real property tax return records of Glynn County, or
one officer or director of a corporate elector, one trustee of a trust which is
an elector, one partner of a partnership elector, or one designated
representative of an elector whose designation is made in writing. An owner of
property that is subject to taxes, fees, or assessments levied by the board
shall have one vote for an election based on numerical majority. An owner of
multiple parcels has one vote, not one vote per parcel, for an election based on
numerical majority. Multiple owners of one parcel have one vote for an election
based on numerical majority which must be cast by one of their number who is
designated in writing.
(8)
"Equity electors" means electors who cast votes equal to each $1,000.00 value of
all owned real property within the district which is then subject to taxes,
fees, and assessments levied by the board. Value of real property shall be the
assessed value.
(9)
"Forestry" means the planting and growing of trees for sale in a program which
includes reforestation of harvested trees, regular underbrush and undesirable
growth clearing, fertilizing, pruning, thinning, cruising, and marking which
indicate an active tree farming operation. It does not include the casual
growing of trees on land otherwise idle or held for investment, even though some
harvesting of trees may occur thereon.
(10)
"Hereby," "herein," "hereinunder," and "herewith" mean under this
Act.
(11)
"Project" means the acquisition, construction, installation, modification,
renovation, or rehabilitation of land, interests in land, buildings, structures,
facilities, or other improvements, including operation of facilities or other
improvements, located or to be located within or otherwise providing service to
the district and the acquisition, installation, modification, renovation,
rehabilitation, or furnishing of fixtures, machinery, equipment, furniture, or
other property of any nature whatsoever used on, in, or in connection with any
such land, interest in land, building, structure, facility, or other
improvement; the creation, provision, enhancement, or supplementing of public
services (such as fire, police, and other services), provided that same do not
conflict with or duplicate existing public services; and all for the essential
public purposes set forth in Section 2 of this Act.
(12)
"Property owner" or "owner of real property" means any entity or person shown as
a taxpayer for one or more parcels of real estate on the most recent ad valorem
tax records of Glynn County within the district as certified by the Glynn County
Tax Commissioner.
(13)
"Property used nonresidentially" means property or any portion thereof used for
neighborhood shopping, planned shopping center, general commercial, transient
lodging facilities, tourist services, office or institutional, office services,
light industry, heavy industry, central business district, parking, or other
commercial or business use or vacant land zoned or approved for any of the
aforementioned uses which do not include residential.
(14)
"Residential" means a specific work or improvement undertaken primarily to
provide single-family, multifamily dwelling accommodations and mixed use
developments for persons and families and such community facilities as may be
incidental or appurtenant thereto.
(15)
"Taxpayer" means an entity or person paying ad valorem taxes on real property,
whether on one or more parcels of property within the district. Multiple owners
of one parcel shall constitute one taxpayer and shall designate in writing one
of their number to represent the whole.
(16)
"Value" or "assessed value" of property means the values established in the most
recent ad valorem tax reassessment of such properties certified by the
chairperson of the Glynn County Board of Tax Assessors.
SECTION
4.
Creation.
Creation.
Pursuant
to Article IX, Section VII of the Constitution of the State of Georgia, there is
created a community improvement district to be located in Glynn County, Georgia,
wholly within the unincorporated area thereof, which shall be activated upon
compliance with the conditions set forth in this section. The district shall be
governed by a board constituted by this Act. The conditions for such activation
shall be:
(1)
The adoption of a resolution consenting to the creation of the community
improvement district by the Board of Commissioners of Glynn County;
and
(2)
The written consent to the creation of the community improvement district
by:
(A)
A majority of the owners of real property within the district which will be
subject to taxes, fees, and assessments levied by the board of the district;
and
(B)
The owners of real property within the district which constitutes at least 75
percent by value of all real property within the district which will be subject
to taxes, fees, and assessments levied by the board. For this purpose, value
shall be determined by the most recent approved county ad valorem tax
digest.
The
written consent provided for in this paragraph shall be submitted to the Glynn
County Tax Commissioner, who shall certify whether subparagraphs (A) and (B) of
this paragraph have been satisfied with respect to such proposed
district.
No
district or board created under this Act shall transact any business or exercise
any powers under this Act until the foregoing conditions are met. A copy of
such resolutions shall be filed with the Secretary of State, who shall maintain
a record of the district activated under this Act, and with the Department of
Community Affairs.
SECTION
5.
Administration, appointment, and election of board members.
Administration, appointment, and election of board members.
(a)
The district created pursuant hereto shall be administered by a board composed
of a minimum of eight board members to be appointed and elected as hereinafter
provided. Two board members shall be appointed by the Glynn County Board of
Commissioners. Three board members shall be elected by the vote of electors,
and three members shall be elected by the vote of equity electors. The board
shall be six in number plus two for each member appointed by the Glynn County
Board of Commissioners as provided above. The members representing the electors
and equity electors shall be elected to serve in post positions 1 through 6,
respectively. Each elected board member must receive a majority of the votes
cast for the post for which he or she is a candidate. Votes for posts 1, 2, and
3 shall be cast by electors and votes for posts 4, 5, and 6 shall be cast by
equity electors. The initial term of office for the members representing posts
1 and 4 shall be one year. The initial term of office for the members
representing posts 2 and 5 shall be two years, and the initial term of office
for the members representing posts 3 and 6 shall be three years. Thereafter,
all terms of office shall be for three years, except the appointed board members
who serve at the pleasure of the governing body which appointed
them.
(b) The initial board members to be elected as provided above shall be elected in a caucus of electors which shall be held within 60 days after the adoption of the resolutions and obtaining the written consents herein provided at such time and place within the district as the Board of Commissioners of Glynn County shall designate after notice thereof shall have been given to said electors by publishing same in the legal organ of Glynn County as hereinafter provided. Thereafter, there shall be conducted, not later than 60 days following the last day for filing ad valorem real property tax returns in Glynn County, a caucus of said electors at such time and place within the district as the board shall designate in such notice for the purpose of electing board members to those board member positions whose terms expire or are vacant. If a vacancy occurs in an elected position on the board, the board shall, within 60 days thereof, call a special election to fill the same to be held within 60 days of the call unless such vacancy occurs within 180 days of the next regularly scheduled election, in which case a special election may, but need not, be called. For any election held hereunder, notice thereof shall be given to said electors by publishing notice thereof in the legal organ of Glynn County at least once each week for four weeks prior to such election.
(c) Board members shall be subject to recall as follows:
(b) The initial board members to be elected as provided above shall be elected in a caucus of electors which shall be held within 60 days after the adoption of the resolutions and obtaining the written consents herein provided at such time and place within the district as the Board of Commissioners of Glynn County shall designate after notice thereof shall have been given to said electors by publishing same in the legal organ of Glynn County as hereinafter provided. Thereafter, there shall be conducted, not later than 60 days following the last day for filing ad valorem real property tax returns in Glynn County, a caucus of said electors at such time and place within the district as the board shall designate in such notice for the purpose of electing board members to those board member positions whose terms expire or are vacant. If a vacancy occurs in an elected position on the board, the board shall, within 60 days thereof, call a special election to fill the same to be held within 60 days of the call unless such vacancy occurs within 180 days of the next regularly scheduled election, in which case a special election may, but need not, be called. For any election held hereunder, notice thereof shall be given to said electors by publishing notice thereof in the legal organ of Glynn County at least once each week for four weeks prior to such election.
(c) Board members shall be subject to recall as follows:
(1)
By election, called by a resolution of the Board of Commissioners of Glynn
County;
(2)
By election, called by a resolution of the administrative board of the
district;
(3)
By election, called by a petition of 20 percent of the electors or a petition by
holders of 20 percent of eligible votes represented by equity
electors;
(4)
Upon petition of either a majority of the electors within the district or a
majority of the equity electors within the district, provided that, if the
petition is for recall of an elected board member, the petition shall be from
the category of voters who elected the board member; or
(5)
Upon the termination of an agreement of cooperation. Termination is in the
event such agreement of cooperation shall lapse (i.e., failure to reenact by the
following December 31 after an existing agreement of cooperation shall expire on
its own terms) or an affirmative resolution of rejection of an agreement or
reenactment of an agreement of cooperation by any one of the necessary parties
so that no agreement of cooperation is in force.
(d)
Board members, including appointed board members, shall be electors within the
district. If a board member ceases to be an elector, such board
membeŕs
position shall be declared vacant as of the date of the event terminating such
status.
(e) Board members shall receive no compensation for their services, but shall be reimbursed for actual expenses incurred in the performance of their duties. They shall elect one of their number as chairperson and another as vice chairperson. They shall also elect a secretary and a treasurer, or a secretary-treasurer, either of whom may, but need not, be a member of the board or an elector.
(f) If the boundaries of a district are subsequently changed after creation of the district to include land within a municipality which was not a party to the creation of the district, or if a municipalitýs boundaries are changed to include land within an existing district, the governing authority of the municipality shall acquire the right to appoint a member to the board of the district upon entering into the cooperation agreement provided for in Section 9 hereof. If the boundaries of a district or municipality are subsequently changed after creation of a district to include land within the unincorporated area of Glynn County and the district originally had no land within the unincorporated area of Glynn County, the Board of Commissioners of Glynn County shall acquire the right to appoint a member to the board of the district upon entering into the cooperation agreement provided for in Section 9 hereof. If, by municipal annexation or by deannexation of land from a district, the district no longer includes land within the unincorporated area of Glynn County or within a municipality, respectively, then the board member of the district appointed by such governing authority in which the district is no longer located shall cease to be a board member.
(g) Chapter 2 of Title 21 of the O.C.G.A., the "Georgia Election Code," shall not apply to the election of district board members. The district board may adopt such bylaws not inconsistent herewith to provide for any matter concerning such elections.
(e) Board members shall receive no compensation for their services, but shall be reimbursed for actual expenses incurred in the performance of their duties. They shall elect one of their number as chairperson and another as vice chairperson. They shall also elect a secretary and a treasurer, or a secretary-treasurer, either of whom may, but need not, be a member of the board or an elector.
(f) If the boundaries of a district are subsequently changed after creation of the district to include land within a municipality which was not a party to the creation of the district, or if a municipalitýs boundaries are changed to include land within an existing district, the governing authority of the municipality shall acquire the right to appoint a member to the board of the district upon entering into the cooperation agreement provided for in Section 9 hereof. If the boundaries of a district or municipality are subsequently changed after creation of a district to include land within the unincorporated area of Glynn County and the district originally had no land within the unincorporated area of Glynn County, the Board of Commissioners of Glynn County shall acquire the right to appoint a member to the board of the district upon entering into the cooperation agreement provided for in Section 9 hereof. If, by municipal annexation or by deannexation of land from a district, the district no longer includes land within the unincorporated area of Glynn County or within a municipality, respectively, then the board member of the district appointed by such governing authority in which the district is no longer located shall cease to be a board member.
(g) Chapter 2 of Title 21 of the O.C.G.A., the "Georgia Election Code," shall not apply to the election of district board members. The district board may adopt such bylaws not inconsistent herewith to provide for any matter concerning such elections.
SECTION
6.
Taxes, fees, and assessments.
Taxes, fees, and assessments.
(a)
The board may levy taxes, fees, and assessments within the district only on real
property used nonresidentially, specifically excluding all property exempt from
ad valorem taxation under the Constitution or laws of the State of Georgia, all
property used for residential, agricultural, or forestry purposes, and all
tangible personal property and intangible property. Any tax, fee, or assessment
so levied shall not exceed 2.5 percent of the aggregate assessed value of all
such real property. The taxes, fees, and assessments levied by the board shall
be equitably apportioned among the properties subject to such taxes, fees, and
assessments according to the need for governmental services and facilities
created by the degree of density of development of each such property. The
proceeds of taxes, fees, and assessments levied by the board shall be used only
for the purpose of providing governmental services and facilities which are
specially required by the degree of density of development within the district
and not for the purpose of providing those governmental services and facilities
provided to the county or municipality as a whole. Any tax, fee, or assessment
so levied shall be collected by Glynn County in the same manner as taxes, fees,
and assessments are levied by the county. Delinquent taxes shall bear the same
interest and penalties as Glynn County ad valorem taxes and may be enforced and
collected in the same manner. The proceeds of taxes, fees, and assessments so
levied, less a fee to cover the costs of collection of 1 percent thereof, but
not more than $25,000.00 in any one calendar year, shall be transmitted by Glynn
County to the board and shall be expended by the board only for the purposes
authorized hereby.
(b) The board shall levy the above-provided taxes subsequent to the report of the assessed taxable values for the current calendar year and notify in writing the collecting governing bodies so they may include the levy on their regular ad valorem tax bills, if possible.
(c) If, but for this provision, a parcel of real property is removed from a district or otherwise would become nontaxable, it shall continue to bear its tax millage then extant upon such event for bonded indebtedness of the district then outstanding until said bonded indebtedness then outstanding is paid or refunded.
(b) The board shall levy the above-provided taxes subsequent to the report of the assessed taxable values for the current calendar year and notify in writing the collecting governing bodies so they may include the levy on their regular ad valorem tax bills, if possible.
(c) If, but for this provision, a parcel of real property is removed from a district or otherwise would become nontaxable, it shall continue to bear its tax millage then extant upon such event for bonded indebtedness of the district then outstanding until said bonded indebtedness then outstanding is paid or refunded.
SECTION
7.
Boundaries of the districts.
Boundaries of the districts.
(a)
The boundaries of the district shall be as designated as such by the Glynn
County Board of Commissioners as set forth in the resolution required in Section
4 hereof, or as may thereafter be added as hereinafter
provided.
(b) The boundaries of a district may be increased after the initial creation of a district pursuant to the following:
(b) The boundaries of a district may be increased after the initial creation of a district pursuant to the following:
(1)
Written consent of the owners of any real property sought to be annexed is first
obtained;
(2)
The board of the district adopts a resolution consenting to the annexation; and
(3)
A resolution is adopted which grants consent to the annexation by the governing
authority of Glynn County and such municipalities as may have area within the
district before or after the annexation.
SECTION
8.
Debt.
Debt.
Except
as otherwise provided in this section, the district may incur debt without
regard to the requirements of Article IX, Section V of the Constitution of
Georgia, or any other provision of law, prohibiting or restricting the borrowing
of money or the creation of debt by political subdivisions of the State of
Georgia, which debt shall be backed by the full faith and credit and taxing
power of the district but shall not be an obligation of the State of Georgia or
any other unit of government of the State of Georgia other than the
district.
SECTION
9.
Cooperation with local governments.
Cooperation with local governments.
The
services and facilities provided pursuant hereto shall be provided for in a
cooperation agreement executed jointly by the board, the governing body of Glynn
County, and any municipalities within which the district is partially located.
The provisions of this section shall in no way limit the authority of Glynn
County or any such municipality to provide services or facilities within the
district; and Glynn County or such municipalities shall retain full and complete
authority and control over any of its facilities located within its respective
areas of any district. Said control shall include but not be limited to the
modification of, access to, and degree and type of services provided through or
by facilities of the municipality or county. Nothing contained in this section
shall be construed to limit or preempt the application of any governmental laws,
ordinances, resolutions, or regulations to the district or the services or
facilities provided therein. The community improvement district created
pursuant to this Act shall indemnify and hold harmless the State of Georgia,
Glynn County, any municipality located wholly or partially within such community
improvement district, and any other unit of government of the State of Georgia
other than such community improvement district from any claim or cause of action
asserted against, or which is capable of assertion against, such community
improvement district arising from the acts or omissions of the community
improvement district. Neither the State of Georgia, Glynn County, any
municipality located wholly or partially within such district, nor any other
unit of government of the State of Georgia other than the district shall be
responsible or liable for payment of any sum arising from a claim or cause of
action asserted, or which might have been asserted, against such community
improvement district arising from the acts or omissions of the community
improvement district.
SECTION
10.
Powers.
Powers.
(a)
The district and the board created pursuant hereto shall have all of the powers
necessary or convenient to carry out and effectuate the purposes and provisions
hereof, including, without limiting the generality of the foregoing, the
power:
(1)
To bring and defend actions;
(2)
To adopt and amend a corporate seal;
(3)
To make and execute contracts, agreements, and other instruments necessary or
convenient to exercise the powers of the board or to further the public purposes
for which the district is created, including, but not limited to, contracts for
construction of projects, leases of projects, contracts for sale of projects,
agreements for loans to finance projects, contracts with respect to the use of
projects, and agreements with other jurisdictions or community improvement
districts regarding multijurisdictional projects or services or for other
cooperative endeavors to further the public purposes of the
district;
(4)
To acquire by purchase, lease, or otherwise and to hold, lease, and dispose of
real and personal property of every kind and character, or any interest therein,
in furtherance of the public purposes of the district;
(5)
To finance (by loan, grant, lease, or otherwise), construct, erect, assemble,
purchase, acquire, own, repair, remodel, renovate, rehabilitate, modify,
maintain, extend, improve, install, sell, equip, expand, add to, operate, or
manage projects and to pay the cost of any project from the proceeds of the
district or any other funds of the district, or from any contributions or loans
by persons, corporations, partnerships (whether limited or general), or other
entities, all of which the board is authorized to receive, accept, and
use;
(6)
To borrow money to further or carry out its public purposes and to execute
bonds, notes, other obligations, leases, trust indentures, trust agreements,
agreements for the sale of its bonds, notes, or other obligations, loan
agreements, security agreements, assignments, and such other agreements or
instruments as may be necessary or desirable, in the judgment of the board, to
evidence and to provide security for such borrowing;
(7)
To issue bonds, notes, or other obligations of the district and use the proceeds
thereof for the purpose of paying all or any part of the cost of any project and
otherwise to further or carry out the public purposes of the district and to pay
all reasonably incurred costs of the board incidental to, or necessary and
appropriate to, furthering or carrying out such purposes;
(8)
To make application directly or indirectly to any federal, state, county, or
municipal government or agency or to any other source, whether public or
private, for loans, grants, guarantees, or other financial assistance in
furtherance of the
district́s
public purposes and to accept and use the same upon such terms and conditions as
are prescribed by such federal, state, county, or municipal government or agency
or other source;
(9)
To enter into agreements with the federal government or any agency thereof to
use the facilities or services of the federal government or any agency thereof
in order to further or carry out the public purposes of the
district;
(10)
To contract for any period, not exceeding 50 years, with the State of Georgia,
state institutions, or any municipal corporation, county, or political
subdivision of this state for the use by the district of any facilities or
services of the state or any such state institution, municipal corporation,
county, or political subdivision of this state, or for the use by any state
institution or any municipal corporation, county, or political subdivision of
the state of any facilities or services of the district, provided that such
contracts shall deal with such activities and transactions as the district and
any such political subdivision with which the district contracts are authorized
by law to undertake;
(11)
Whenever bonds of such district have been validated as provided in this Act, to
issue, from time to time, its notes in anticipation of the issuance of such
bonds as validated and to renew, from time to time, any such notes by the
issuance of new notes, whether the notes to be renewed have or have not matured.
A district may issue notes only to provide funds which would otherwise be
provided by the issuance of the bonds as validated. The notes may be
authorized, sold, executed, and delivered in the same manner as bonds. As with
its bonds, such district may sell such notes at public or private sale. Any
resolution or resolutions authorizing notes of a district or any issue thereof
may contain any provisions which such district is authorized to include in any
resolution or resolutions authorizing bonds of such district or any issue
thereof, and a district may include in any notes any terms, covenants, or
conditions which it is authorized to include in any bonds. Validation of such
bonds shall be a condition precedent to the issuance of the notes, but it shall
not be required that such notes be judicially validated. Bond anticipation
notes shall not be issued in an amount exceeding the par value of the bonds in
anticipation of which they are to be issued;
(12)
To grant, mortgage, convey, assign, or pledge its property, revenues or taxes,
or fees or assessments to be received as security for its bonds, notes, or other
indebtedness and obligations;
(13)
To receive and use the proceeds of any tax levied by any county or any municipal
corporation to pay the costs of any project or for any other purpose for which
the board may use its own funds pursuant hereto;
(14)
To receive and administer gifts, grants, and devises of money and property of
any kind and to administer trusts;
(15)
To use any real property, personal property, or fixtures or any interest therein
or to rent or lease such property to or from others or make contracts with
respect to the use thereof or to sell, lease, exchange, transfer, assign,
pledge, or otherwise dispose of or grant options for any such property in any
manner as it deems to be the best advantage of the district and the public
purposes thereof;
(16)
To appoint, select, and employ engineers, surveyors, architects, urban or city
planners, fiscal agents, attorneys, and others and to fix their compensation and
pay their expenses;
(17)
To encourage and promote the improvement and development of the district and to
make, contract for, or otherwise cause to be made long-range plans or proposals
for the district in cooperation with Glynn County and any municipal corporations
in which the district is wholly or partially located;
(18)
To invest its funds, whether derived from the issuance of its bonds or
otherwise, in such manner as it may deem prudent and appropriate, without
further restriction;
(19)
To adopt bylaws governing the conduct of business by the board, the election and
duties of officers of the board, and other matters which the board determines to
deal with in its bylaws;
(20)
To exercise any power granted by the laws of this state to public or private
corporations which is not in conflict with the public purposes of the district;
and
(21)
To do all things necessary or convenient to carry out the powers conferred
hereby.
(b)
The powers enumerated in each paragraph of subsection (a) of this section are
cumulative of and in addition to those powers enumerated herein and elsewhere in
this Act; and no such power limits or restricts any other power of the
board.
SECTION
11.
Construction; notice, proceeding, publication, referendum.
Construction; notice, proceeding, publication, referendum.
This
Act shall be liberally construed to effect the purposes hereof. No notice,
proceeding, or publication except those required hereby shall be necessary to
the performance of any act authorized hereby, nor shall any such act be subject
to referendum.
SECTION
12.
Bonds - generally.
Bonds - generally.
(a)
Notes or other obligations issued by the district other than general obligation
bonds shall be paid solely from the property, revenues, or other sources pledged
to pay such notes or other obligations. General obligation bonds issued by the
district shall constitute a general obligation of the district to the repayment
of which the full faith and credit and taxing power of the district shall be
pledged.
(b) All bonds, notes, and other obligations of the district shall be authorized by resolution of its board, adopted by a majority vote of the board members at a regular or special meeting.
(c) Bonds, notes, or other obligations shall bear such date or dates, shall mature at such time or times not more than 40 years from their respective dates, shall bear interest at such rate or rates which may be fixed or may fluctuate or otherwise change from time to time, shall be subject to redemption on such terms, and shall contain such other terms, provisions, covenants, assignments, and conditions as the resolution authorizing the issuance of such bonds, notes, or other obligations may permit or provide. The terms, provisions, covenants, assignments, and conditions contained in or provided or permitted by any resolution of the board authorizing the issuance of such bonds, notes, or other obligations shall bind the board members of the district then in office and their successors.
(d) The board shall have power from time to time and whenever it deems it expedient to refund any bonds by the issuance of new bonds, whether or not the bonds to be refunded have matured, and may issue bonds partly to refund bonds then outstanding and partly for any other purpose permitted hereunder. The refunding bonds may be exchanged for the bonds to be refunded, with such cash adjustments as may be agreed upon, or may be sold and the proceeds applied to the purchase or redemption of the bonds to be refunded.
(e) There shall be no limitation upon the interest rates or any maximum interest rate or rates on any bonds, notes, or other obligations of the district; and the usury laws of this state shall not apply to bonds, notes, or other obligations of the district.
(f) Bonds issued by the district may be in such form, either coupon or fully registered, or both coupon and fully registered, and may be subject to such exchangeability and transferability provisions as the bond resolution authorizing the issuance of such bonds or any indenture or trust agreement may provide.
(g) Bonds issued by the district shall be validated under and in accordance with Article 3 of Chapter 82 of Title 36 of the O.C.G.A., known as the "Revenue Bond Law," or in accordance with such other successor provision governing bond validation generally as may be provided by law. Bonds shall bear a certificate of validation. The signature of the clerk of the Superior Court of Glynn County may be made on the certificate of validation of such bonds by facsimile or by manual execution, stating the date on which such bonds were validated; and such entry shall be original evidence of the fact of judgment and shall be received as original evidence in any court in this state.
(h) In lieu of specifying the rate or rates of interest which such bonds are to bear, and the principal amount and maturities of such said bonds, the notice to the district attorney or the Attorney General, the notice to the public of the time, place, and date of the validation hearing, and the petition and complaint for validation may state 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 and that the principal amount will not exceed and the final maturity date will not be later than as specified in such notices and petition and complaint 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 may be fixed or may fluctuate or otherwise change time to time so specified; provided, however, that nothing in this subsection shall be construed as prohibiting or restricting the right of the board to sell such bonds at a discount, even if in doing so the effective interest cost resulting therefrom would exceed the maximum per annum interest rate specified in such notices and in the petition and complaint.
(i) The terms "cost of the project" and "cost of any project" shall have the meaning prescribed herein whenever those terms are referred to in bond resolutions of the board, in bonds, notes, or other obligations of the district, or in notices or proceedings to validate such bonds, notes, or other obligations of the district.
(b) All bonds, notes, and other obligations of the district shall be authorized by resolution of its board, adopted by a majority vote of the board members at a regular or special meeting.
(c) Bonds, notes, or other obligations shall bear such date or dates, shall mature at such time or times not more than 40 years from their respective dates, shall bear interest at such rate or rates which may be fixed or may fluctuate or otherwise change from time to time, shall be subject to redemption on such terms, and shall contain such other terms, provisions, covenants, assignments, and conditions as the resolution authorizing the issuance of such bonds, notes, or other obligations may permit or provide. The terms, provisions, covenants, assignments, and conditions contained in or provided or permitted by any resolution of the board authorizing the issuance of such bonds, notes, or other obligations shall bind the board members of the district then in office and their successors.
(d) The board shall have power from time to time and whenever it deems it expedient to refund any bonds by the issuance of new bonds, whether or not the bonds to be refunded have matured, and may issue bonds partly to refund bonds then outstanding and partly for any other purpose permitted hereunder. The refunding bonds may be exchanged for the bonds to be refunded, with such cash adjustments as may be agreed upon, or may be sold and the proceeds applied to the purchase or redemption of the bonds to be refunded.
(e) There shall be no limitation upon the interest rates or any maximum interest rate or rates on any bonds, notes, or other obligations of the district; and the usury laws of this state shall not apply to bonds, notes, or other obligations of the district.
(f) Bonds issued by the district may be in such form, either coupon or fully registered, or both coupon and fully registered, and may be subject to such exchangeability and transferability provisions as the bond resolution authorizing the issuance of such bonds or any indenture or trust agreement may provide.
(g) Bonds issued by the district shall be validated under and in accordance with Article 3 of Chapter 82 of Title 36 of the O.C.G.A., known as the "Revenue Bond Law," or in accordance with such other successor provision governing bond validation generally as may be provided by law. Bonds shall bear a certificate of validation. The signature of the clerk of the Superior Court of Glynn County may be made on the certificate of validation of such bonds by facsimile or by manual execution, stating the date on which such bonds were validated; and such entry shall be original evidence of the fact of judgment and shall be received as original evidence in any court in this state.
(h) In lieu of specifying the rate or rates of interest which such bonds are to bear, and the principal amount and maturities of such said bonds, the notice to the district attorney or the Attorney General, the notice to the public of the time, place, and date of the validation hearing, and the petition and complaint for validation may state 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 and that the principal amount will not exceed and the final maturity date will not be later than as specified in such notices and petition and complaint 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 may be fixed or may fluctuate or otherwise change time to time so specified; provided, however, that nothing in this subsection shall be construed as prohibiting or restricting the right of the board to sell such bonds at a discount, even if in doing so the effective interest cost resulting therefrom would exceed the maximum per annum interest rate specified in such notices and in the petition and complaint.
(i) The terms "cost of the project" and "cost of any project" shall have the meaning prescribed herein whenever those terms are referred to in bond resolutions of the board, in bonds, notes, or other obligations of the district, or in notices or proceedings to validate such bonds, notes, or other obligations of the district.
SECTION
13.
Authorized contents of agreements and instruments of the board generally;
use of proceeds of sale of bonds, notes, etc.;
subsequent issues of bonds, notes, etc.
Authorized contents of agreements and instruments of the board generally;
use of proceeds of sale of bonds, notes, etc.;
subsequent issues of bonds, notes, etc.
(a)
Subject to the limitations and procedures provided by this section and by the
immediately preceding section, the agreements or instruments executed by the
board may contain such provisions not inconsistent with law as shall be
determined by such board.
(b) The proceeds derived from the sale of all bonds, notes, and other obligations issued by the district shall be held and used for the ultimate purpose of paying, directly or indirectly as permitted herein, all or part of the cost of any project, or for the purpose of refunding any bonds, notes, or other obligations issued in accordance hereunder.
(c) Issuance by the board of one or more series of bonds, notes, or other obligations for one or more purposes shall not preclude it from issuing other bonds, notes, or other obligations in connection with the same project or with any other projects; but the proceeding wherein any subsequent bonds, notes, or other obligations are issued shall recognize and protect any prior loan agreement, security agreement, or other agreement or instrument made for any prior issue of bonds, notes, or other obligations, unless in the resolution authorizing such prior issue the right is expressly reserved to the board to issue subsequent bonds, notes, or other obligations on a parity with such prior issue.
(b) The proceeds derived from the sale of all bonds, notes, and other obligations issued by the district shall be held and used for the ultimate purpose of paying, directly or indirectly as permitted herein, all or part of the cost of any project, or for the purpose of refunding any bonds, notes, or other obligations issued in accordance hereunder.
(c) Issuance by the board of one or more series of bonds, notes, or other obligations for one or more purposes shall not preclude it from issuing other bonds, notes, or other obligations in connection with the same project or with any other projects; but the proceeding wherein any subsequent bonds, notes, or other obligations are issued shall recognize and protect any prior loan agreement, security agreement, or other agreement or instrument made for any prior issue of bonds, notes, or other obligations, unless in the resolution authorizing such prior issue the right is expressly reserved to the board to issue subsequent bonds, notes, or other obligations on a parity with such prior issue.
SECTION
14.
Construction; applicability of Chapter 5 of Title 10 of the O.C.G.A.,
the "Georgia Securities Act of 1973";
notice, proceeding, publication, referendum.
Construction; applicability of Chapter 5 of Title 10 of the O.C.G.A.,
the "Georgia Securities Act of 1973";
notice, proceeding, publication, referendum.
This
Act shall be liberally construed to effect the purposes hereof. The offer,
sale, or issuance of bonds, notes, or other obligations by the district shall
not be subject to regulation under Chapter 5 of Title 10 of the O.C.G.A., the
"Georgia Securities Act of 1973." No notice, proceeding, or publication except
those required hereby shall be necessary to the performance of any act
authorized hereby, nor shall any such act be subject to referendum.
SECTION
15.
Dissolution.
Dissolution.
(a)
The district activated under the provisions of this Act may be dissolved. The
conditions for such dissolution shall be:
(1)
The adoption of a resolution approving of the dissolution of the community
improvement district by the Glynn County Board of Commissioners if wholly within
the unincorporated area of Glynn County and such municipalities within which the
district may be located if partially within the unincorporated area of Glynn
County and partially within one or more municipalities, or by the governing
authority of a municipality if wholly within the incorporated area thereof;
and
(2)
The written consent to the dissolution of the community improvement district
by:
(A)
Two-thirds (67 percent) of the owners of real property within the district which
are subject to taxes, fees, and assessments levied by the board of the district;
and
(B)
The owners of real property constituting at least 75 percent by value of all
real property within the district which are subject to taxes, fees, and
assessments levied by the board. For this purpose, value shall be determined by
the most recent approved county ad valorem tax digest.
The
written consent provided for in this paragraph shall be submitted to the Glynn
County Tax Commissioner, who shall certify whether subparagraphs (A) and (B) of
this paragraph have been satisfied with respect to the proposed district
dissolution.
(b)
At the official caucus of electors at which board members are to be elected in
the sixth year following creation of the district, and every sixth year
thereafter, the question shall be put to the electors present to dissolve the
community improvement district. Upon an affirmative vote of two-thirds (67
percent) of the electors present and voting, who shall represent at least 75
percent of the votes cast on the basis of value, the board shall send a ballot
to each owner of property subject to taxes, fees, and assessments levied by the
board for a vote on the dissolution. Upon receipt of ballots consenting to the
dissolution from a majority of the property owners, who shall represent at least
75 percent of the assessed value of said properties, the board shall request
dissolution by the governing authority and shall forward said ballots to the
Glynn County Tax Commissioner for
certification.
(c) In the event that successful action is taken pursuant to this section to dissolve the district, the dissolution shall become effective at such time as all debt obligations of the district have been satisfied. Following a successful dissolution action and until the dissolution becomes effective, no new projects may be undertaken, obligations or debts incurred, or property acquired.
(d) Upon a successful dissolution action, all noncash assets of the district other than public facilities or land or easements to be used for such public facilities, as described in Section 2 of this Act, shall be reduced to cash and, along with all other cash on hand, shall be applied to the repayment of any debt obligation of the district. Any cash remaining after all outstanding obligations are satisfied shall be refunded to each property owner in direct proportion to the total amount in taxes, fees, or assessments paid by the property owner relative to the total revenues paid by all properties in the district.
(e) When a dissolution becomes effective, the county governing authority, or the governing authority of a municipality if wholly within the incorporated area thereof, shall take title to all property previously in the ownership of the district and all taxes, fees, and assessments of the district shall cease to be levied and collected.
(f) A district may be reactivated in the same manner as an original activation.
(c) In the event that successful action is taken pursuant to this section to dissolve the district, the dissolution shall become effective at such time as all debt obligations of the district have been satisfied. Following a successful dissolution action and until the dissolution becomes effective, no new projects may be undertaken, obligations or debts incurred, or property acquired.
(d) Upon a successful dissolution action, all noncash assets of the district other than public facilities or land or easements to be used for such public facilities, as described in Section 2 of this Act, shall be reduced to cash and, along with all other cash on hand, shall be applied to the repayment of any debt obligation of the district. Any cash remaining after all outstanding obligations are satisfied shall be refunded to each property owner in direct proportion to the total amount in taxes, fees, or assessments paid by the property owner relative to the total revenues paid by all properties in the district.
(e) When a dissolution becomes effective, the county governing authority, or the governing authority of a municipality if wholly within the incorporated area thereof, shall take title to all property previously in the ownership of the district and all taxes, fees, and assessments of the district shall cease to be levied and collected.
(f) A district may be reactivated in the same manner as an original activation.
SECTION
16.
Repealer.
Repealer.
All
laws and parts of laws in conflict with this Act are repealed.