Short title

Legislative intent; assumption of rights, duties, and assets of the Georgia Development Authority. Creation; members; quorum; travel and expenses; legal services; members’ accountability recordkeeping; authority assigned. Definitions. Purpose, powers, and duties. Loans to local governments; repayment. Lease agreements. Issuing and refunding of bonds. Review of contracts and agreements by Environmental Protection Division or Georgia Land Conservation Council. Bonds of authority approved for investment and deposit by state, local governments, and others. Pledge of state not to alter or limit the rights of bondholders. Personal liability of members of authority, officers, and employees. Liberal construction; bonds exempt from securities law; necessity of notice, proceeding, or publication; referendums. Bonds not indebtedness of state; guarantee of bonds by state. Exemptions from taxation. Rights under federal Constitution. 50-23-18. 50-23-19. 50-23-20. 50-23-21. Approval of bond issues and other obligations by state financing and investment commission. Liberal construction. Limitation on issue of bonds. Withholding state funds from local governments or nongovernmental entities failing to collect and remit amounts when due. Grants for clean energy property; rules and regulations; annual report. PART 2 WATER SUPPLY DIVISION 50-23-25. 50-23-26. ‘‘Division’’ defined. Creation of Water Supply Division; director. 50-23-27. Powers, duties, and responsibilities.