Title 36

(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…

(a) Applications for single-family bond projects must be filed no later than June 30 of 1990 or September 30 of 1991 and September each year thereafter to be eligible to receive an allocation from the housing share. (b) Each application for a single-family project shall be accomp…

(a) Applications for qualified residential rental projects shall be accompanied by the following: (1) The items specified in Code Section 36-82-185; (2) A written opinion of legal counsel addressed to the department to the effect that the bonds which are covered by the applicatio…

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) Applications for notices of allocation from the flexible share shall be received and acted on by the department as set forth in this Code section. (b) Applications for housing bonds shall be filed on the same forms and accompanied by the same items as applications for notices…

(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…

If after the first six months of the year, 75 percent or more of the economic development share or any one or more reservation components of the housing share remains unallocated, the commissioner may transfer any available state ceiling, or any part thereof, from the economic de…

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.

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. History. — C…

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…

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…

(a) Whenever a governmental entity is authorized by law to issue bonds, notes, or certificates, including but not limited to general obligation bonds, revenue bonds, bond anticipation notes, tax anticipation notes, or revenue anticipation certificates, such governmental entity is…

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…

(a) Each qualified interest rate management agreement shall meet the following requirements: (1) Subject to subsection (b) of this Code section, the maximum term, including any renewal periods, of any qualified interest rate management agreement may not exceed ten years unless su…

The local governmental entity that has entered into a qualified interest rate management agreement shall include in its annual financial statements information with respect to each qualified interest rate management agreement it has authorized or entered into, including any infor…

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,…

Article 8 Georgia Allocation System 36-82-180. 36-82-181. 36-82-182. 36-82-183. 36-82-184. 36-82-185. 36-82-186.

Hearing and judgment; parties to proceedings; appeal. Effect of judgment of validation. Applicability of Code Sections 36-82-22 and 36-82-25. Payment of costs of proceedings. Sec. 36-82-73. 36-82-74. 36-82-76.

Definitions. Powers as to undertakings and revenue bonds generally. Adoption of resolution authorizing undertaking and issuance of revenue bonds. Issuance of revenue bonds generally; form; terms; signatures; interim receipts; negotiability; nontaxability. Covenants in resolution …

Notice to district attorney or Attorney General of resolution authorizing revenue bonds. Duty of district attorney or Attorney General to file petition; order to show cause; service of petition and order; answer. Notice of hearing on validation. Hearing and judgment on validation…

This chapter shall be known and may be cited as the ‘‘Local Government Investment Pool Act.’’ History. — Ga. L. 1980, p. 1715, § 1.

(a) The General Assembly finds that the public interest is served by maximum and prudent investment of idle public funds so that the need for taxes and other public revenues is decreased commensurately with the earnings on such investments. (b) The purpose of this chapter is to s…

As used in this chapter, the term: (1) ‘‘Depository institution’’ means any commercial bank or trust company, mutual savings bank, savings and loan association, or building and loan association existing under the laws of this state or of the United States and domiciled in this st…

(a)(1) Subject to the procedures set forth in this chapter, the governing authority of any local government may invest and reinvest any money subject to its control and jurisdiction in: (A) Obligations of this state or of other states; (B) Obligations issued by the United States …

Local governments shall require from a depository institution a pledge of collateral as provided in Chapter 8 of Title 45. History. — Ga. L. 1980, p. 1715, § 5.

(a) Local governments may effect and are encouraged to effect temporary transfers among separate funds, for the purpose of pooling amounts available for investment. (b) This pooling may be accomplished through interfund advances and other appropriate means consistent with recogni…

The State Depository Board, through the state treasurer, may assist local governments in developing effective cash management policies and in investing funds that are temporarily in excess of operating needs by: (1) Explaining investment opportunities provided by the local govern…

(a) A local government investment pool is created, consisting of the aggregate of all funds from local governments and all funds from other bodies created for a public purpose which the State Depository Board has agreed to accept that are placed in the custody of the state for in…

(a) As used in this Code section, the term ‘‘local government’’ means a county, municipality, or consolidated government. (b) Local governments, when contracting for or purchasing supplies, materials, equipment, or agricultural products, excluding beverages for immediate consumpt…

As used in this chapter, the term: (1) ‘‘Administrator’’ means any person who administers a group self-insurance fund other than the interlocal risk management agency. (2) ‘‘Commissioner’’ means the Commissioner of Insurance. (3) ‘‘County’’ means any county of the State of Georgi…

(a) If an agency contracts with an administrator, the agency and the administrator must enter into a written agreement which shall be subject to review and approval by the Commissioner in accordance with this Code section and which shall contain at least the following: (1) A cont…

(a) The Commissioner shall require each administrator to have and maintain a fidelity bond in an amount which the Commissioner deems appropriate but which is not less than $100,000.00. (b) Errors and omissions coverage or other appropriate liability insurance in an amount which i…

(a) The Commissioner may revoke, suspend, or refuse to issue or renew the certificate of authority of any agency when and if, after investigation, he finds that: (1) Any certificate of authority issued to the agency was obtained by fraud; (2) There was any material misrepresentat…

Interlocal risk management agencies and funds established by such agencies shall be exempt from state and local taxes and fees. History. — Code 1981, § 36-85-13, enacted by Ga. L. 1986, p. 1496, § 1.

The Commissioner shall have the authority to require and conduct periodic examinations to verify the solvency of funds in the same manner and under the same conditions as insurers are examined under Chapter 2 of Title 33. History. — Code 1981, § 36-85-14, enacted by Ga. L. 1986, …

(a) If the assets of a fund are at any time insufficient to enable a fund to discharge its legal liabilities and other obligations and to maintain the reserves and surplus required of it under this chapter, the agency shall forthwith make up the deficiency or levy an assessment u…

The Commissioner shall have authority to promulgate rules and regulations to effectuate the provisions of this chapter. History. — Code 1981, § 36-85-16, enacted by Ga. L. 1986, p. 1496, § 1.