Definitions

Continuation of Georgia Highway Authority; preservation of authority’s powers; protection of rights of bondholders generally. Members; compensation; officers; quorum; record of proceedings. Powers of authority generally. Conveyance of property to authority. Reimbursement of counties and municipalities for property, interests, and rights of way conveyed to authority. Letting of construction contracts by competitive bids. Initiation of projects; preliminary expenses; selection of projects. Leasing of projects. Payment of rentals by lessees; enforcement of covenants and obligations; assignment of rentals by authority. Cessation of rentals; transfer of projects. Designation of projects as part of county and municipal public road systems and as part of state highway system. Composition of authority’s fund; purposes for which fund may be pledged or utilized. Designation of moneys received pursuant to article as trust funds. Effect of article. Construction of article. 32-10-32. 32-10-33. 32-10-34. 32-10-35. 32-10-36. 32-10-37. 32-10-38. 32-10-39. 32-10-40. 32-10-41. 32-10-42. 32-10-43. 32-10-44. 32-10-45. 32-10-46. 32-10-47. PART 2 32-10-48. REVENUE BONDS 32-10-30. Power of authority to issue 32-10-49. 409 bonds generally; attributes of bonds generally. Sale of bonds by public competitive bidding; determination of sale price and interest rate. Form and issuance of bonds. Signing bonds; affixing authority’s seal to bonds. Bonds as negotiable instruments; tax exemption. Utilization of bond proceeds; procedure in cases where proceeds are less than or greater than cost of project or combined projects. Issuance of interim receipts, interim certificates, and temporary bonds. Replacement of lost or mutilated bonds. Resolutions for bond issuance; issuance of bonds of a single issue. Effect of bond issuance on state debt; recitals on face of bonds regarding such effect. Trust indentures as security for bonds. Payment of bond proceeds to trustee. Pledges of revenues, rents, and earnings; creation and disposition of sinking funds. Rights and remedies of holders of bonds or interest coupons, of receivers for such holders, and of indenture trustees. Refunding bonds. Investment of funds in bonds; deposit of bonds as securities. Protection of interests and rights of bondholders. Confirmation and validation of bonds. Adjudication regarding lease contracts and rental income. Covenant with holders of T.32, C.10 HIGHWAYS, BRIDGES, AND FERRIES Sec. 32-10-50. T.32, C.10 Sec. bonds as to tax-exempt status of authority property and bonds. Venue and jurisdiction of actions. 32-10-72. 32-10-73. Article 2 State Road and Tollway Authority 32-10-74. 32-10-75. 32-10-76. PART 1 GENERAL PROVISIONS 32-10-60. 32-10-61. Definitions.