Revenue bonds — Signatures; seal

In case any officer whose signature appears on any bonds or whose facsimile signature appears on any coupon ceases to be such officer before the delivery of such bonds, such signature shall nevertheless be valid and sufficient for all purposes the same as if he had remained in office until such delivery. All such bonds shall be signed by the chairman or vice-chairman of the authority, and the official seal of the authority shall be affixed thereto and attested by the secretary or assistant secretary of the authority; and any coupons attached thereto shall bear the signature or facsimile signature of the chairman or vice-chairman of the authority. Any coupon may bear the facsimile signature of such person, and any bond may be signed, sealed, and attested on behalf of the authority by such persons as at the actual time of the execution of such bonds shall be duly authorized or hold the proper office, although 211 12-3-325 CONSERVATION & NATURAL RES. 12-3-329 at the date of such bonds such persons may not have been so authorized or shall not have held such office. History. — Ga. L. 1962, p. 736, § 13; Ga. L. 1969, p. 397, § 2. 12-3-326. Revenue bonds — Status as negotiable instruments; tax exemption for bonds and income therefrom. All revenue bonds issued under this part shall have and are declared to have all the qualities and incidents of negotiable instruments. Such bonds and the income therefrom shall be exempt from all taxation within the state. History. — Ga. L. 1962, p. 736, § 12; Ga. L. 1969, p. 397, § 2. 12-3-327. Revenue bonds — Manner of sale; determination of price; use and manner of disbursement of proceeds. (a) The authority may sell bonds in such manner and for such price as it may determine to be for the best interests of the authority. (b) The proceeds of bonds shall be used solely for the payment of the cost of project and shall be disbursed upon requisition or order of the chairman or vice-chairman of the authority under such restrictions, if any, as provided by the resolution authorizing the issuance of the bonds or by the trust indenture mentioned in Code Section 12-3-332. History. — Ga. L. 1969, p. 397, § 2. 12-3-328. Revenue bonds — Issuance of interim receipts, interim certificates, and temporary bonds. Prior to the preparation of definitive bonds, the authority may, under like restrictions, issue interim receipts, interim certificates, or temporary bonds, with or without coupons, exchangeable for definitive bonds upon the issuance of the latter. History. — Ga. L. 1969, p. 397, § 2. 12-3-329. Revenue bonds — Replacement of mutilated, destroyed, or lost bonds.