07 LC
14 9738S
The
Senate State and Local Governmental Operations Committee offered the following
substitute to HB 325:
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend an Act creating the Waycross and Ware County Industrial Development
Authority, approved March 7, 1955 (Ga. L. 1955, p. 2840), as amended, so as to
change certain provisions relating to issuance of revenue bonds by the
authority; to provide for construction; to provide an effective date; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
An
Act creating the Waycross and Ware County Industrial Development Authority,
approved March 7, 1955 (Ga. L. 1955, p. 2840), as amended, is amended by
revising subsection (l) of Section 6 as follows:
"(l)
To issue revenue bonds for the purpose of paying all or any part of the cost of
any project of the authority. Such revenue bonds shall be issued in accordance
with Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the 'Revenue Bond
Law'; provided, however, that as a precondition to the authority availing itself
of any procedures or powers under the Revenue Bond Law for purposes of an
undertaking that is a landfill as defined by Code Section 12-8-22 of the
O.C.G.A., such proposal shall be subject to approval by a majority of the
qualified voters of Ware County voting upon the question in a referendum held
and conducted in the same manner and subject to the same procedures as required
by Code Sections 36-82-1 and 36-82-2 of the O.C.G.A. for approval of bonded debt
of political subdivisions, and, absent such approval, such procedures or powers
shall not be initiated or exercised."
SECTION
2.
This
Act shall not be applied to impair an obligation of any valid contract entered
into prior to the effective date of this Act.
SECTION
3.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
4.
All
laws and parts of laws in conflict with this Act are repealed.