Title 32 — Title 32
0 chapters · 215 sections in this title.
O.C.G.A. § 32-10-1 Definitions
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As used in this article, the term: (1) ‘‘Approach’’ means not more than three miles of the traffic artery on either end of the bridge and within that limit shall mean so much of the traffic arteries on either end of the bridge as shall be required to develop the maximum traffic c…
O.C.G.A. § 32-10-100 Trust indenture as security for bonds
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(a) In the discretion of the authority, any issue of such revenue bonds may be secured by a trust indenture by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company, inside or outside of the state. Such trus…
O.C.G.A. § 32-10-101 Payment of bond proceeds to trustee
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The authority shall, in the resolution providing for issuance of revenue bonds or in the trust indenture, provide for the payment of the proceeds of the sale of the bonds to any officer or person who or any agency, bank, or trust company which shall act as trustee of such funds a…
O.C.G.A. § 32-10-104 Refunding bonds
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The authority is authorized, subject to any prior resolution or trust indenture, to provide by resolution for the issuance of revenue refunding bonds of the authority for the purpose of refunding any revenue bonds issued under this article and then outstanding, together with accr…
O.C.G.A. § 32-10-106 Protection of interests and rights of bondholders
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While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of su…
O.C.G.A. § 32-10-107 Confirmation and validation of bonds
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Bonds of the authority shall be confirmed and validated in accordance with Article 3 of Chapter 82 of Title 36, the ‘‘Revenue Bond Law.’’ The petition for validation shall also make any person, firm, corporation, limited liability company, or other type of private entity a party …
O.C.G.A. § 32-10-11 Cessation of rentals; transfer of projects
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When each and all of the bonds, interest coupons, and obligations of every nature whatsoever, for the payment of which the revenues of any given project or projects have been pledged, in whole or in part, either originally or subsequently, either primarily or secondarily, directl…
O.C.G.A. § 32-10-110 Venue and jurisdiction of actions
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Any action to protect or enforce any rights under this article and any action pertaining to validation of any bonds issued under this article brought in the courts of this state shall be brought in the Superior Court of Fulton County, which shall have exclusive original jurisdict…
O.C.G.A. § 32-10-120 Short title
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This part shall be known and may be cited as the ‘‘Georgia Transportation Infrastructure Bank Act.’’ History. — Code 1981, § 32-10-120, enacted by Ga. L. 2008, p. 73, § 2/HB 1019. 32-10-121. Creation; governance; corporate purpose; types of accounts. (a) There shall be created wi…
O.C.G.A. § 32-10-121 Creation; governance; corporate purpose; types of accounts
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32-10-122. Definitions. 32-10-123. Authority of the board.
O.C.G.A. § 32-10-122 Definitions
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As used in this part, the term: (1) ‘‘Bank’’ means the Georgia Transportation Infrastructure Bank. (2) ‘‘Board’’ means the board of the State Road and Tollway Authority. (3) ‘‘Department of Transportation’’ means the Georgia Department of Transportation and its successors. (4) ‘‘…
O.C.G.A. § 32-10-123 Authority of the board
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In administering the affairs of the bank, the board may exercise any or all of the powers granted to the authority under Parts 1 and 2 of this article, as well as the powers granted in this part. Without limiting the generality of the foregoing, the board is specifically authoriz…
O.C.G.A. § 32-10-125 Revenue sources
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(a) The following sources may be used to capitalize the bank and for the bank to carry out its purposes: (1) Appropriations by the General Assembly; (2) Federal funds available to the state, as approved by the Department of Transportation; (3) Contributions, donations, and deposi…
O.C.G.A. § 32-10-127 Loans and other financial assistance; determination of eligible projects
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32-10-128. Authority of qualified borrowers. 32-10-129. Bank exempted from taxes and assessments. 32-10-130. Withholding of funds.
O.C.G.A. § 32-10-128 Authority of qualified borrowers
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(a) Qualified borrowers are authorized to obtain loans or other financial assistance from the bank through financing agreements. Qualified borrowers entering into financing agreements and issuing loan obligations to the bank may perform any acts, take any action, adopt any procee…
O.C.G.A. § 32-10-129 Bank exempted from taxes and assessments
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The bank is performing an essential governmental function in the exercise of the powers conferred upon it and shall not be required to pay taxes or assessments upon property or upon its operations or the income therefrom, or taxes or assessments upon property or loan obligations …
O.C.G.A. § 32-10-130 Withholding of funds
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(a) If a government unit fails to collect and remit in full all amounts due to the bank on the date these amounts are due under the terms of any note or other obligation of the government unit, the bank shall notify the appropriate state officials who shall withhold all or a port…
O.C.G.A. § 32-10-131 Liability of officer, employee, or committee of bank
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Neither the board nor any officer, employee, or committee of the bank acting on behalf of it, while acting within the scope of this authority, is 481 32-10-131 HIGHWAYS, BRIDGES, AND FERRIES 32-10-133 subject to any liability resulting from carrying out any of the powers given in…
O.C.G.A. § 32-10-132 Notice prior to action or referendum not required
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Notice, proceeding, or publication, except those required in this part, shall not be necessary to the performance of any act authorized in this part nor shall any act of the bank be subject to any referendum. History. — Code 1981, § 32-10-132, enacted by Ga. L. 2008, p. 73, § 2/H…
O.C.G.A. § 32-10-133 Annual report
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Following the close of each state fiscal year, the bank shall submit an annual report of its activities for the preceding year to the Governor, the Lieutenant Governor, and the Speaker of the House of Representatives and make such report available to the General Assembly. The ban…
O.C.G.A. § 32-10-15 Effect of article
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This article shall be deemed to provide an additional and alternative method for the doing of the things authorized in this article, shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of any powers now ex…
O.C.G.A. § 32-10-16 Definitions
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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 count…
O.C.G.A. § 32-10-30 Power of authority to issue bonds generally; attributes of bonds generally
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The authority shall have the power and is authorized, at one time or from time to time, to provide by resolution for the issuance of negotiable bonds in a sum not to exceed $484 million in principal amount outstanding at any one time for the purpose of paying all or any part of t…
O.C.G.A. § 32-10-32 Form and issuance of bonds
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The authority shall determine the form of the bonds, including any interest coupons to be attached thereto, and shall fix the denomination or denominations of the bonds and the place or places of payment of principal and interest thereof, which may be at any bank or trust company…
O.C.G.A. § 32-10-33 Signing bonds; affixing authority’s seal to bonds
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In case any officer whose signature shall appear on any bonds or whose facsimile signature shall appear on any coupon shall cease 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…
O.C.G.A. § 32-10-34 Bonds as negotiable instruments; tax exemption
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All bonds issued under this article shall have and are declared to have all the qualities and incidents of negotiable instruments under the laws of this state. Such bonds, their transfer, and the income therefrom shall be exempt from all taxation within this state. History. — Ga.…
O.C.G.A. § 32-10-37 Replacement of lost or mutilated bonds
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The authority may also provide for the replacement of any bond which becomes mutilated or which is destroyed or lost. History. — Ga. L. 1953, Jan.-Feb. Sess., p. 626, § 21; Ga. L. 1955, p. 124, § 22; Ga. L. 1967, p. 385, § 21; Code 1933, § 95A-1221, enacted by Ga. L. 1973, p. 947…
O.C.G.A. § 32-10-4 Powers of authority generally
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The authority shall have, in addition to any other powers conferred in this article, the following powers: (1) To have a seal and alter the same at its pleasure; (2) To acquire by purchase, exchange, lease, or otherwise and to hold, lease, and dispose of, in any manner, real and …
O.C.G.A. § 32-10-40 Trust indentures as security for bonds
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(a) In the discretion of the authority, any issue of such bonds may be secured by a trust indenture by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company inside or outside of the state. (b) Resolutions pr…
O.C.G.A. § 32-10-41 Payment of bond proceeds to trustee
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The authority shall, in the resolution providing for issuance of bonds or in the trust indenture, provide for the payment of the proceeds of the sale of the bonds to any officer or person who or any agency, bank, or trust company which shall act as trustee of such funds and shall…
O.C.G.A. § 32-10-44 Refunding bonds
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The authority is authorized, subject to any prior resolution or trust indenture, to provide by resolution for the issuance of refunding bonds of the authority for the purpose of refunding any bonds issued under this article and then outstanding, together with accrued interest the…
O.C.G.A. § 32-10-46 Protection of interests and rights of bondholders
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While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of su…
O.C.G.A. § 32-10-47 Confirmation and validation of bonds
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Bonds of the authority shall be confirmed and validated in accordance with the procedure of Article 3 of Chapter 82 of Title 36, the ‘‘Revenue Bond Law.’’ History. — Ga. L. 1955, p. 124, § 33; Ga. L. 1961, p. 3, § 14; Ga. L. 1967, p. 385, § 32; Code 1933, § 95A-1232, enacted by G…
O.C.G.A. § 32-10-5 Conveyance of property to authority
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(a) The Governor is authorized and empowered to convey to the authority, on behalf of the state, any real property or interest therein or any rights of way owned by the state, including property or rights of way acquired in the name of the department or board, which is used at th…
O.C.G.A. § 32-10-50 Venue and jurisdiction of actions
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Any action to protect or enforce any rights under this article and any action pertaining to validation of any bonds issued under this article brought in the courts of this state shall be brought in the Superior Court of Fulton County, which shall have exclusive original jurisdict…
O.C.G.A. § 32-10-60 Definitions
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As used in this article, the term: (1) ‘‘Approach’’ means that distance on either end of a bridge as shall be required to develop the maximum traffic capacity of a bridge, including but not limited to necessary rights of way, grading, paving, minor drainage structures, and such o…
O.C.G.A. § 32-10-61 Definitions
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Continuation of State Tollway Authority as State Road and Tollway Authority. 32-10-62. Membership; compensation; officers; bylaws; quorum; record of proceedings. 32-10-63. Powers of authority generally.
O.C.G.A. § 32-10-63 Powers of authority generally
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The authority shall have, in addition to any other powers conferred in this article, the following powers: (1) To have a seal and alter the same at its pleasure; (2) To acquire by purchase, lease, exchange, or otherwise and to hold, lease, and dispose of real and personal propert…
O.C.G.A. § 32-10-63.1 Editor’s notes
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Since the purpose of Ga. L. 1990, p. 2048, was to “revise, reorganize, modernize, consolidate, and clarify” laws 5 T.40, C.1 MOTOR VEHICLES & TRAFFIC 40-1-1
O.C.G.A. § 32-10-65.1 Expiration of tolls
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Every toll established under this article must expire after a specified period of time and may be extended beyond said time by approval of the State Road and Tollway Authority. History. — Code 1981, § 32-10-65.1, enacted by Ga. L. 1990, p. 8, § 32; Ga. L. 2001, p. 1251, § 2-1. 32…
O.C.G.A. § 32-10-65.2 Annual reporting
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The authority shall submit an annual report to the House Committee on Transportation and the Senate Transportation Committee detailing the amount of funds collected pursuant to the exercise of the authority’s toll powers and how such funds have been used or disposed of by the aut…
O.C.G.A. § 32-10-68 Letting of contracts by competitive bids
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All contracts of the authority for the construction of any project authorized by this article shall be let to the reliable bidder submitting the lowest sealed bid upon plans and specifications approved by the department, except as otherwise provided for projects authorized under …
O.C.G.A. § 32-10-7 Letting of construction contracts by competitive bids
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All contracts of the authority for the construction of any project authorized by this article shall be let to the reliable bidder submitting the lowest sealed bid upon plans and specifications approved by the department, as set forth in Code Sections 32-2-64 through 32-2-72. Howe…
O.C.G.A. § 32-10-72 Authority fund for excess toll and other revenue
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All revenue in excess of all obligations of the authority of any nature, together with all unused receipts and gifts of every kind and nature whatsoever, shall be and become the authority fund. The authority, in its discretion, is charged with the duty of pledging, utilizing, or …
O.C.G.A. § 32-10-74 Effect of article
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This article shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws and shall not be regarded as in derogation of any powers now existing…
O.C.G.A. § 32-10-75 Construction of article
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This article, being for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes of this article. History. — Ga. L. 1953, Jan.-Feb. Sess., p. 302, § 35; Code 1933, § 95A-1272, enacted by Ga. L. 1973, p. 947, § 1; Ga. L. 1991, p. 94, § 32. …
O.C.G.A. § 32-10-9 Leasing of projects
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The authority, as lessor, is authorized to lease any project or group of projects to the state and the department as lessees; and the Governor on behalf of the state and the commissioner on behalf of the department are authorized to execute and enter upon such leases for the use …
O.C.G.A. § 32-10-90.1 Garvee bond provisions
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(a) As used in this Code section, the term ‘‘grant anticipation revenue vehicle’’ or ‘‘garvee bond’’ means any bond issued by the authority which is an eligible debt financing instrument within the scope of 23 U.S.C. Section 122 or which is otherwise to be repaid or reimbursed in…
O.C.G.A. § 32-10-93 Execution, seal, and signing of bonds
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All bonds issued by the authority shall be executed in the name of the authority by the chairperson and secretary of the authority and shall be sealed with the official seal of the authority or a facsimile thereof. The facsimile signatures of the chairperson and secretary of the …
O.C.G.A. § 32-10-94 Bonds as negotiable instruments; tax exemption
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All revenue bonds issued under this article shall have and are declared to have all the qualities and incidents of negotiable instruments under the negotiable instruments law of the state. Such bonds, their transfer, and the income therefrom shall be exempt from all taxation in t…