Title 36 — Title 36

(a) As used in this Code section, the term ‘‘local authority’’ means an instrumentality of one or more local governments created to fulfill a specialized public purpose or any other legally created organization that has authority to issue debt for a public purpose independent of …

(a) As used in this Code section, the term: (1) ‘‘Audit’’ means an annual report of the financial affairs and transactions of a county, municipality, or consolidated government as required by Code Section 36-81-7 and an annual report of a school district as required by rule and r…

(a) As used in this Code section, the term: (1) ‘‘Agreement’’ means any written private contract for solid waste collection services between a firm and any commercial client. (2) ‘‘Commercial client’’ means any private, nonresidential business entity or person required to have a …

(a) As used in this Code section, the term ‘‘project’’ means and includes hospitals, health care facilities, dormitories, office buildings, clinics, housing accommodations, nursing homes, rehabilitation centers, extended care facilities, and other health related facilities, wheth…

If a bid or proposal opportunity is extended by a county, municipal corporation, or local board of education for goods, services, or both, valued at $100,000.00 or more, such bid or proposal opportunity shall be advertised by such respective local governmental entity in the Georg…

(a) As used in this Code section, the term: (1) ‘‘Consultant’’ means an individual or company that is paid or engaged to develop or draft specifications or requirements for a 1188 36-80-28 solicitation or to serve in a consultative role during the bid or proposal evaluation or ne…

(a) The governing body of a municipality, county, school district, or other local governmental unit or political subdivision, in addition to all other legal investments, may invest and reinvest money subject to its control and jurisdiction in: (1) Obligations of the United States…

(a) No county, municipality, school district, authority, division, instrumentality, political subdivision, or public body corporate created under the Constitution or laws of this state shall be authorized to file a petition for relief from payment of its debts as they mature or a…

The state and all of its agencies are authorized to execute such contracts, plans, or other documents as may be necessary or desirable to effectuate the purposes of Code Section 36-80-6, this Code section, and Code Sections 36-80-8 and 36-80-9. History. — Ga. L. 1963, p. 354, § 2…

The state and all of its agencies are empowered to establish and maintain area offices for such combined, consolidated, or merged undertakings. History. — Ga. L. 1963, p. 354, § 3. 36-80-9. Promulgation of rules and regulations for consolidated programs; requirement of submission…

The intent of this article is to provide minimum budget, accounting, and auditing requirements for local governments so as to provide local taxpayers with an opportunity to gain information concerning the purposes for which local revenues are proposed to be spent and are actually…

As used in this article, the term: (1) ‘‘Budget’’ means a plan of financial operation embodying an estimate of proposed expenditures during a budget period and the proposed means of financing them. (2) ‘‘Budget officer’’ means that local government official charged with budget pr…

This article shall not be construed to repeal or conflict with any law providing budgetary, fiscal, or auditing procedures more restrictive than those in this article. History. — Ga. L. 1980, p. 1738, § 10; Ga. L. 1987, p. 3, § 36.

(a) As used in this Code section, the term ‘‘political subdivision’’ means any municipality, county, local government authority, board, or commission empowered to enter into debt. Such term shall not include any state agency or state authority. (b) A political subdivision which i…

(a) As used in this Code section, the term ‘‘bonds’’ means any revenue or general obligation bonds issued under this chapter. (b) When bonds are issued by a county, municipality, or local authority in the amount of $5 million or more, the expenditure of bond proceeds shall be sub…

It is the purpose of this article to maintain the fiscal solvency of counties, municipal corporations, and political subdivisions of the state and authorities and public corporations created by the Constitution of Georgia or any general, local, or special Act of the General Assem…

As used in this article, the term: 1290 36-82-122 (1) ‘‘Bonds’’ means any bonds, notes, certificates, or obligations of any kind issued by any municipality to evidence any repayment obligation for money borrowed by such municipality, exclusive of general obligation bonds. (2) ‘‘G…

This article shall be liberally construed to effect the purposes hereof; and insofar as the provisions of this article may be inconsistent with the provisions of the Constitution of Georgia, under circumstances where the General Assembly has been granted the power by law to enlar…

This article shall be liberally construed to effect the purposes hereof; and insofar as the provisions of this article may be inconsistent with the provisions of the Constitution of Georgia, under circumstances where the General Assembly has been granted the power by law to enlar…

Reserved. Repealed by Ga. L. 2001, p. 1033, § 2, effective April 27, 2001. 1295 Editor’s notes. — This article was based on Code 1981, § 36-82-160, enacted by Ga. L. 1984, p. 941, § 1; Ga. L. 1987, p. 36-82-181 3, § 36 and reserved by Ga. L. 2001, p. 1033, § 2. ARTICLE 8 GEORGIA …

This article shall be known and may be cited as the ‘‘Georgia Allocation System.’’ History. — Code 1981, § 36-82-180, enacted by Ga. L. 1987, p. 486, § 1; Ga. L. 1990, p. 817, § 1. 36-82-181. Legislative purpose.

The economic development and the availability of safe, sanitary, and affordable housing in the State of Georgia are of vital importance to the state and its citizens. Private activity bond financing has been an integral part of the state’s program for economic development and aff…

As used in this article, the term: (1) ‘‘Amount’’ means, when used with respect to bonds, notices of allocation, or portions of the state ceiling, an amount measured in terms of United States dollars. (2) ‘‘Application’’ means the application and amendments thereto for a notice o…

The department shall administer, operate, and manage the system. Action taken by the department, however, shall not constitute an opinion of the department on any legal matters with respect to the federal or state tax treatment of any bonds. Without limiting the generality of the…

(a) The amount of the state ceiling shall be determined by the department in accordance with the Federal Code. The amount of the state ceiling available at any time shall be the amount, determined by the department, which results from subtracting from the state ceiling: (1) The a…

(a) Commencing on April 1, 1990, the economic development share for 1990 is established in an amount equal to 40 percent of the state ceiling. The 1990 percentage shall include any allocations made from the competitive pool prior to April 1, 1990. The economic development share f…

(a) In order to qualify for a notice of allocation from the economic development share, a project must satisfy the employment tests as defined in this Code section. To satisfy the employment tests, a project must either: (1) Be reasonably expected to increase employment within th…

Commencing on April 1, 1990, the housing share for 1990 is established in an amount equal to 40 percent of the state ceiling. The 1990 percentage shall include any allocations made from the housing share made prior to April 1, 1990. The housing share for 1991 and each year therea…

(a) Commencing on April 1, 1990, and extending through June 30, 1990, and for 1991 and each year thereafter commencing on January 1 and extending through September 30, reservations from the housing share shall be as follows: (1) Sixty-two percent shall be reserved for the Georgia…

Commencing on April 1, 1990, the flexible share for 1990 is established in an amount equal to 20 percent of the state ceiling. The 1990 percentage shall include any allocations made from the flexible pool prior to April 1, 1990. The flexible share for 1991 and years thereafter sh…

(a) When the department is required to decide which applications should receive a notice of allocation, it shall compare the applications from which the selection is to be made, applying the policy guidelines set forth in this Code section. These policy guidelines are designed to…

When the department is required to apply the policy guidelines it may consider such factors, known as evaluation factors, in deciding which applications should receive a notice of allocation. The evaluation factors to be considered shall include, but are not limited to, the numbe…

The department may set aside and reserve from the flexible share amounts which may be treated as a carryforward for one or more carryforward purposes, within the meaning of Section 146 of the Federal Code. Section 146 of the Federal Code requires an election for the use of such c…

(a) Unless otherwise determined by the commissioner, carryforward election applications must be filed with the department no later than December 1 of each year. Carryforward election applications shall be filed, received, and acted upon by the department as set forth in this Code…

No issuer of single-family housing bonds may elect to exchange any part of a notice of allocation for mortgage credit certificates without the written authorization of the department. Such authorization shall be in the discretion of the commissioner, and no issuer shall have any …

If necessary or appropriate for complying with federal rules and regulations implementing the Federal Code, the state ceiling shall be deemed to be allocated to the state and the state’s allocation shall be deemed to be or have been assigned to the issuers to which notices of all…

The provisions of this article shall apply to all bonds issued on or after April 1, 1990. History. — Code 1981, § 36-82-209, enacted by Ga. L. 1987, p. 486, § 1; Ga. L. 1990, p. 817, § 1. Editor’s notes. — The former provi- sions of Code Section 36-82-202 are the present provisio…

Prior to the hearing provided for in Code Section 36-82-21, the clerk of the superior court of the county in which the hearing is to be held shall publish in a newspaper, once during each of the two successive weeks immediately preceding the week in which the hearing is to be hel…

As used in this article, the term: (1) ‘‘Governmental unit’’ means any county, municipal corporation, school district, or political subdivision of the state. (2) ‘‘Local authority’’ means any public corporation or authority created by or pursuant to a local or special Act of the …

No local authority shall issue or be a grantor of a trust which issues any obligations to finance or refinance any real or personal property to be owned, leased, or operated by any governmental unit which is not a sponsoring governmental unit of such local authority. 1322 36-82-2…

This article shall be liberally construed to effect the purposes hereof. Insofar as the provisions of this article may be inconsistent with the provisions of any local or special amendment to the Constitution, this article shall control and shall be deemed to be an exercise of th…

In the event that no appeal is filed within the time prescribed by law or, if an appeal is filed, that the judgment is affirmed on appeal, the judgment of the superior court confirming and validating the issuance of the bonds shall be forever conclusive upon the validity of the b…

As used in this article, the term: (1) ‘‘Governing body’’ means the board, commission, council, or other local legislative body of governmental entity. (2) ‘‘Governmental entity’’ means any school district, independent school system, county, municipal corporation, consolidated ci…

As used in this article, the term: (1) ‘‘Counterparty’’ means the party entering into a qualified interest rate management agreement with the local governmental entity. A counterparty must be a bank, insurance company, or other financial institution duly qualified to do business …

With respect to all or any portion of any debt or lease or installment purchase contract, either issued or anticipated to be issued by the local governmental entity, the local governmental entity may enter into, terminate, amend, or otherwise modify a qualified interest rate mana…

(a) Prior to executing and delivering a qualified interest rate management agreement, the local governmental entity shall have adopted an interest rate management plan that includes: (1) An analysis of the interest rate risk, basis risk, termination risk, credit risk, market-acce…

The local governmental entity that has entered into a qualified interest rate management agreement shall include in its annual 1331 36-82-256 financial statements information with respect to each qualified interest rate management agreement it has authorized or entered into, incl…

When entering into any qualified interest rate management agreement authorized under this article, the agreement shall be governed by the laws of the State of Georgia, and jurisdiction over the local governmental entity in any matter concerning a qualified interest rate managemen…

Any contract which has been duly authorized and executed by a local governmental entity before May 2, 2005, shall not be rendered invalid or improper by the provisions of this article; provided, however, that this article shall apply to any renewal of such a contract after May 2,…

The costs of the proceedings shall be paid in any event by the county, municipality, or political subdivision desiring to issue the bonds. History. — Ga. L. 1897, p. 82, § 7; Civil Code 1910, § 451; Code 1933, § 87-307.