HB 1169 - Georgia State Museum Authority; create
Georgia House of Representatives - 1995/1996 Sessions
HB 1169 - Georgia State Museum Authority; create
1. Walker 141st 2. Murphy 18th 3. Baker 70th
4. Lee 94th 5. McBee 88th 6. Ashe 46th
House Comm: SPCA / Senate Comm: SLGO /
House Vote: Yeas 103 Nays 8 Senate Vote: Yeas Nays
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House Action Senate
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1/8/96 Read 1st Time 2/5/96
1/9/96 Read 2nd Time 2/14/96
1/29/96 Favorably Reported 2/13/96
Committee Amend/Sub Am
2/2/96 Read 3rd Time
2/2/96 Passed/Adopted
FA Comm/Floor Amend/Sub
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Rules Suspended to Introduce
Code Sections amended: 20-14-1, 20-14-2, 20-14-3, 20-14-4, 20-14-5, 20-14-6,
20-14-7, 20-14-8, 20-14-9, 20-14-10, 20-14-11, 20-14-12, 20-14-13, 20-14-14,
20-14-30, 20-14-31, 20-14-32, 20-14-33, 20-14-34
HB 1169 HB 1169/FA
H. B. No. 1169 (AM)
By: Representatives Walker of the 141st, Murphy of the
18th, Baker of the 70th, Lee of the 94th, McBee of the 88th
and others
A BILL TO BE ENTITLED
AN ACT
1- 1 To amend Title 20 of the Official Code of Georgia Annotated,
1- 2 relating to education, so as create the Georgia State Museum
1- 3 Authority; to create the Georgia State Museum Authority
1- 4 Overview Committee of the General Assembly; to provide a
1- 5 short title; to define terms; to provide for the membership
1- 6 of the authority and the selection, compensation, and
1- 7 service of the members; to provide for the purpose of the
1- 8 authority with respect to the provision and operation of one
1- 9 or more state museum facilities and collections and related
1-10 activities; to provide for the general and specific powers
1-11 of the authority; to provide for the nontaxable status of
1-12 the authority; to authorize the exercise of police and
1-13 security powers by the authority; to specify the provision
1-14 of legal services for the authority by the Attorney General;
1-15 to provide for jurisdiction and venue in actions involving
1-16 the authority; to regulate conflicts of interest; to provide
1-17 for the issuance and administration of revenue debt of the
1-18 authority; to provide for the membership of the overview
1-19 committee and the selection, compensation, and service of
1-20 members; to provide for the powers, duties, and operation of
1-21 the overview committee; to provide for other related
1-22 matters; to repeal conflicting laws; and for other purposes.
1-23 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION 1.
1-24 Title 20 of the Official Code of Georgia Annotated, relating
1-25 to education, is amended by adding at the end of the title
1-26 a new Chapter 14 to read as follows:
"CHAPTER 14
ARTICLE 1
1-27 20-14-1. (Index)
1-28 This article shall be known and may be cited as the
1-29 'Georgia State Museum Authority Act.'
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2- 1 20-14-2. (Index)
2- 2 As used in this article, the term:
2- 3 (1) 'Authority' means the Georgia State Museum
2- 4 Authority.
2- 5 (2) 'Cost of the project' means the cost of
2- 6 construction; the cost of all lands, properties, rights,
2- 7 easements, and franchises acquired; the cost of all
2- 8 machinery and equipment; financing charges; interest
2- 9 prior to and during construction and for one year after
2-10 completion of construction; the cost of engineering,
2-11 architectural, and legal expenses and of plans and
2-12 specifications and other expenses necessary or incident
2-13 to determining the feasibility or practicability of any
2-14 project; administrative expenses; and such other
2-15 expenses as may be necessary or incident to the
2-16 financing authorized in this article, the construction
2-17 of any project, the placing of the same in operation,
2-18 and the condemnation of property necessary for such
2-19 construction and operation. Any obligation or expense
2-20 incurred for any of the foregoing purposes shall be
2-21 regarded as a part of the cost of the project and may be
2-22 paid or reimbursed as such out of such bonds or
2-23 obligations as may be issued by any authority,
2-24 department, commission, or agency of the State of
2-25 Georgia.
2-26 (3) 'Project' means and includes one or a combination of
2-27 two or more of the following: buildings, facilities, and
2-28 all structures; electric, gas, steam, water, and
2-29 sewerage utilities; and improvements of every kind and
2-30 character deemed by the authority necessary or
2-31 convenient for its purposes.
2-32 20-14-3. (Index)
2-33 (a) There is created a body corporate and politic to be
2-34 known as the Georgia State Museum Authority which shall be
2-35 deemed to be an instrumentality of the State of Georgia
2-36 and a public corporation; and by that name, style, and
2-37 title such body may contract and be contracted with, sue
2-38 and be sued, implead and be impleaded, and complain and
2-39 defend in all courts of this state.
2-40 (b) The authority shall consist of nine members.
2-41 Initially, members shall serve staggered terms of office
2-42 as follows: two members for one year, two members for two
H. B. No. 1169
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HB 1169/FA
3- 1 years, two members for three years, and three members for
3- 2 four years. Thereafter, each member shall serve for a
3- 3 term of four years. All members shall be appointed by the
3- 4 Governor, confirmed by the Senate, and shall serve until
3- 5 the appointment and qualification of a successor. The
3- 6 members appointed by the Governor shall be selected from
3- 7 the state at large but shall be representative of all of
3- 8 the geographic areas of the state. The Governor is
3- 9 authorized to appoint as members of the authority any
3-10 elected or appointed state, county, municipal, or school
3-11 board official or employee, except officials and employees
3-12 of the legislative or judicial branches of state
3-13 government, and any person so appointed is authorized to
3-14 serve as a member of the authority.
3-15 (c) All successors shall be appointed in the same manner
3-16 as original appointments. Vacancies in office shall be
3-17 filled in the same manner as original appointments. An
3-18 appointment to fill a vacancy shall be for the unexpired
3-19 term. The authority shall elect its own officers. No
3-20 vacancy on the authority shall impair the right of the
3-21 quorum to exercise all rights and perform all duties of
3-22 the authority.
3-23 (d) The members of the authority shall receive a daily
3-24 expense allowance and reimbursement for transportation
3-25 costs as provided for in Code Section 45-7-21; and the
3-26 members of the authority shall not receive any other
3-27 compensation for their services as such.
3-28 (e) The authority shall have perpetual existence. Any
3-29 change in name or composition of the authority shall in no
3-30 way affect the vested rights of any person under this
3-31 article or impair the obligations of any contracts
3-32 existing under this article.
3-33 (f) The members of the authority shall be accountable in
3-34 all respects as trustees. The authority shall keep
3-35 suitable and proper books and records of all receipts,
3-36 income, and expenditures of every kind and shall submit
3-37 for inspection all the books, together with the proper
3-38 statement of the authority's financial position, to the
3-39 state auditor.
3-40 (g) The authority is assigned to the Board of Regents of
3-41 the University System of Georgia for administrative
3-42 purposes only, as provided for in Code Section 50-4-3.
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4- 1 20-14-4. (Index)
4- 2 The corporate purpose and the general nature of the
4- 3 business of the authority shall be the provision and
4- 4 operation of one or more state museum facilities and
4- 5 collections for educational, cultural, and tourism
4- 6 purposes and other activities normally associated with the
4- 7 provision and operation of public museum facilities and
4- 8 collections.
4- 9 20-14-5. (Index)
4-10 The authority is authorized:
4-11 (1) To have a seal and alter it at pleasure;
4-12 (2) To acquire, hold, and dispose of personal property
4-13 for its corporate purposes;
4-14 (3) To appoint, select, and employ officers, agents, and
4-15 employees, including engineering, architectural, and
4-16 construction experts and fiscal agents; to contract for
4-17 the services of individuals or organizations not
4-18 employed full time by the authority who or which are
4-19 engaged primarily in the rendition of personal services
4-20 rather than the sale of goods or merchandise, such as,
4-21 but not limited to, the services of accountants,
4-22 engineers, architects, consultants, and advisors, and to
4-23 allow suitable compensation for such services; and to
4-24 make provisions for group insurance, retirement, or
4-25 other employee benefit arrangements, provided that no
4-26 part-time or contract employees shall participate in
4-27 group insurance or retirement benefits;
4-28 (4) To make contracts and to execute all instruments
4-29 necessary or convenient, including contracts for
4-30 construction of projects or contracts with respect to
4-31 the leasing or use of projects which the authority
4-32 causes to be subdivided, erected, or acquired;
4-33 (5) To plan, survey, subdivide, administer, construct,
4-34 erect, acquire, own, repair, remodel, maintain, add to,
4-35 extend, improve, equip, operate, and manage projects as
4-36 defined in this article, such projects to be located on
4-37 property owned or leased by the authority or the State
4-38 of Georgia or under the control and management of the
4-39 authority. The cost of any such project shall be paid
4-40 from its income, from the proceeds of revenue
4-41 anticipation certificates of the authority, or from such
4-42 proceeds and any loan, gift, or grant from the United
H. B. No. 1169
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HB 1169/FA
5- 1 States of America or any agency or instrumentality
5- 2 thereof or the State of Georgia or any county, municipal
5- 3 corporation, authority, or local government or governing
5- 4 body;
5- 5 (6) To accept loans or grants, or both, of money,
5- 6 materials, or property of any kind from the United
5- 7 States of America or any agency or instrumentality
5- 8 thereof upon such terms and conditions as the United
5- 9 States of America or such agency or instrumentality may
5-10 impose;
5-11 (7) To borrow money for any of its corporate purposes,
5-12 to issue negotiable revenue anticipation certificates
5-13 from earnings of such projects, and to provide for the
5-14 payment of the same and for the rights of the holders
5-15 thereof;
5-16 (8) To exercise any power which is usually possessed by
5-17 private corporations performing similar functions and
5-18 which is not in conflict with the Constitution and laws
5-19 of this state;
5-20 (9) To act as agent for the United States of America or
5-21 any agency, department, corporation, or instrumentality
5-22 thereof, in any manner within the purposes or powers of
5-23 the authority;
5-24 (10) To adopt, alter, or repeal its own bylaws, rules,
5-25 and regulations governing the manner in which its
5-26 business may be transacted and in which the power
5-27 granted to it may be enjoyed, as the authority may deem
5-28 necessary or expedient in facilitating its business;
5-29 (11) To receive and accept loans, gifts, grants,
5-30 donations, or contributions of property, facilities, or
5-31 services, with or without consideration, from any
5-32 person, firm, or corporation or from the State of
5-33 Georgia or any agency or instrumentality thereof or from
5-34 any county, municipal corporation, or local government
5-35 or governing body;
5-36 (12) To hold, use, administer, and expend such sum or
5-37 sums as may hereafter be received as income, as gifts,
5-38 or as appropriations by authority of the General
5-39 Assembly for any of the purposes of this authority;
5-40 (13) To do all things necessary or convenient to carry
5-41 out the powers and purposes of the authority;
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6- 1 (14) To acquire, lease (as lessee), purchase, hold, own,
6- 2 and use any franchise or any property, real or personal,
6- 3 tangible or intangible, or any interest therein; and to
6- 4 sell, lease (as lessor), transfer, or dispose thereof
6- 5 whenever the same is no longer required for purposes of
6- 6 the authority, or exchange the same for other property
6- 7 or rights which are useful for the purposes of the
6- 8 authority;
6- 9 (15) To fix, alter, charge, and collect fares, rates,
6-10 rentals, and other charges for its facilities and for
6-11 admission to its grounds at reasonable rates to be
6-12 determined by the authority;
6-13 (16) To contract with the Georgia State Financing and
6-14 Investment Commission for the construction of any
6-15 project as provided for in Article 2 of Chapter 17 of
6-16 Title 50; or to contract with other authorities,
6-17 departments, or agencies of the State of Georgia for the
6-18 construction of the project;
6-19 (17) To invest and reinvest any or all idle funds or
6-20 moneys, including but not limited to funds held in
6-21 reserve or debt retirement or received through the
6-22 issuance of revenue certificates or from contributions,
6-23 gifts, or grants which cannot be immediately used for
6-24 the purpose for which received, such investment to be
6-25 made in any security or securities which are legal
6-26 investments for executors or trustees; provided,
6-27 however, that investments in such securities will at all
6-28 times be held for and, when sold, used for the purposes
6-29 for which the money was originally received;
6-30 (18) To grant, on an exclusive or nonexclusive basis,
6-31 the right to use and occupy streets, roads, sidewalks,
6-32 and other public places for the purpose of rendering
6-33 utility services, upon such conditions and for such time
6-34 as the authority may deem wise;
6-35 (19) To appoint special advisory committees and panels
6-36 of citizens to advise the authority of certain issues
6-37 and to reimburse the individuals appointed for actual
6-38 expenses incurred in performing their tasks;
6-39 (20) To select sites for projects; and
6-40 (21) To sell, upon obtaining a license from the
6-41 Department of Revenue, alcoholic beverages for
H. B. No. 1169
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7- 1 consumption on the premises only upon property operated
7- 2 and controlled by the authority.
7- 3 (22) The authority shall attempt to fund the museum from
7- 4 private sources in order to allow the citizens of
7- 5 Georgia the opportunity of showing their support for the
7- 6 museum. The authority shall report on its efforts to
7- 7 privatize funding prior to requesting additional funds
7- 8 from the General Assembly.
7- 9 20-14-6. (Index)
7-10 It is found, determined, and declared that the creation of
7-11 the authority and the carrying out of its corporate
7-12 purposes are in all respects for the benefit of the people
7-13 of this state and constitute a public purpose and that the
7-14 authority will be performing an essential governmental
7-15 function in the exercise of the powers conferred upon it
7-16 by this article. The State of Georgia covenants that the
7-17 authority shall be required to pay no taxes or assessments
7-18 upon any of the property acquired by it or under its
7-19 jurisdiction, control, possession, or supervision or upon
7-20 its activities in the operation or maintenance of the
7-21 facilities erected, maintained, or acquired by it or any
7-22 fees, rentals, or other charges for the use of such
7-23 facilities or other income received by the authority;
7-24 provided, however, in no event shall the exemptions
7-25 granted in this Code section extend to any lessee or other
7-26 private person or entity.
7-27 20-14-7. (Index)
7-28 The authority is authorized to exercise such of the police
7-29 powers of the state as may be necessary to maintain peace
7-30 and order and to enforce any and all zoning, use, and
7-31 personal conduct restrictions upon the properties,
7-32 facilities, and persons under its jurisdiction to the
7-33 extent that such is lawful under the laws of the United
7-34 States and this state. The authority may delegate all or
7-35 any part of the performance of these functions temporarily
7-36 or permanently to the state, the city or to the county in
7-37 which its facilities are located.
7-38 20-14-8. (Index)
7-39 The authority is authorized to contract for or to provide
7-40 for and maintain a security force with respect to the
7-41 facilities and property owned, leased, operated, or under
7-42 the control of the authority and within the territory
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8- 1 thereof. The security force shall have the duty to
8- 2 protect persons and property, disperse unlawful or
8- 3 dangerous assemblages, control pedestrian and vehicular
8- 4 traffic, and otherwise preserve and protect the public
8- 5 peace, health, and safety. For these purposes, a member
8- 6 of such force shall be a peace officer and, as such, shall
8- 7 have authority equivalent to the authority of a policeman
8- 8 or law enforcement officer of the city or county in which
8- 9 such officer is discharging his or her duties.
8-10 20-14-9. (Index)
8-11 All moneys received pursuant to the authority of this
8-12 article, whether as grants or other contributions or as
8-13 revenues, rents, and earnings, shall be deemed to be trust
8-14 funds to be held and applied solely as provided in this
8-15 article.
8-16 20-14-10. (Index)
8-17 The authority is authorized to fix rentals and other
8-18 charges which any user, exhibitor, concessionaire,
8-19 franchisee, or vendor shall pay to the authority for the
8-20 use of any project or part thereof or combination thereof,
8-21 and to charge and collect the same, and to lease and make
8-22 contracts with political subdivisions and agencies with
8-23 respect to use of any part of the project. The rentals
8-24 and other charges shall be so fixed and adjusted in
8-25 respect to the aggregate thereof from the project or any
8-26 part thereof so as to provide a fund sufficient with other
8-27 revenues of such project, if any, to pay the cost of
8-28 maintaining, repairing, and operating the project,
8-29 including the reserves for extraordinary repairs and
8-30 insurance, unless such cost shall be otherwise provided
8-31 for, which cost shall be deemed to include the expenses
8-32 incurred by the authority on account of the project for
8-33 water, light, sewer, and other services furnished by other
8-34 facilities at the project.
8-35 20-14-11. (Index)
8-36 The Attorney General shall provide legal services for the
8-37 authority and in connection therewith the provisions of
8-38 Code Sections 45-15-13 through 45-15-16 shall be fully
8-39 applicable.
8-40 20-14-12. (Index)
8-41 Any action to protect or enforce any rights under this
8-42 article shall be brought in the Superior Court of Fulton
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9- 1 County, Georgia; and such court shall have exclusive,
9- 2 original jurisdiction of such actions. Furthermore, the
9- 3 venue for actions brought against the authority shall be
9- 4 in the Superior Court of Fulton County, Georgia; and such
9- 5 court shall have exclusive, original jurisdiction of such
9- 6 actions. Nothing contained in this article shall be
9- 7 construed to impair any rights afforded the state under
9- 8 the Constitution of the United States.
9- 9 20-14-13. (Index)
9-10 (a) Every member of the authority and every employee of
9-11 the authority who knowingly has any interest, direct or
9-12 indirect, in any contract to which the authority is or is
9-13 about to become a party, or in any other business of the
9-14 authority, or in any firm or corporation doing business
9-15 with the authority shall make full disclosure of such
9-16 interest to the authority. Failure to disclose such an
9-17 interest shall constitute cause for which a member of the
9-18 authority may be removed or an employee discharged or
9-19 otherwise disciplined at the discretion of the authority.
9-20 (b) The provisions of Article 1 of Chapter 10 of Title 16
9-21 and Code Sections 16-10-21, 16-10-22, 16-10-92, and
9-22 16-10-93, regulating the conduct of officers, employees,
9-23 and agents of political subdivisions, municipal and other
9-24 public corporations, and other public organizations, shall
9-25 be applicable to the conduct of members, officers,
9-26 employees, and agents of the authority.
9-27 (c) Any contract or transaction of the authority involving
9-28 a conflict of interest which is not disclosed under
9-29 subsection (a) of this Code section, or involving a
9-30 violation of Article 1 of Chapter 10 of Title 16 or Code
9-31 Section 16-10-21, 16-10-22, 16-10-92, or 16-10-93, or
9-32 involving a violation of any other provision of law
9-33 regulating conflicts of interest which is applicable to
9-34 the authority or its members, officers, or employees shall
9-35 be voidable by the authority.
9-36 20-14-14. (Index)
9-37 (a) The authority or any authority or body which may
9-38 succeed to the powers, duties, and liabilities vested in
9-39 the authority is authorized at one time, or from time to
9-40 time, to provide by resolution for the issuance of revenue
9-41 bonds for the purpose of paying all or any part of the
9-42 cost, as defined in this article, of any one project or a
9-43 combination of projects. The principal and interest of
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10- 1 such revenue bonds shall be payable solely from the
10- 2 special fund provided in subsections (m) through (p) of
10- 3 this Code section for such payment. The bonds of each
10- 4 issue shall be dated and shall mature at such times and
10- 5 bear interest at such rates as may be determined by the
10- 6 authority, payable in such medium of payment as to both
10- 7 principal and interest as may be determined by the
10- 8 authority, and may be made redeemable before maturity, at
10- 9 the option of the authority, at such price or prices and
10-10 under such terms and conditions as may be fixed by the
10-11 authority in the resolution providing for the issuance of
10-12 the bonds.
10-13 (b) The authority shall determine the form of the bonds,
10-14 including any interest coupons to be attached thereto, and
10-15 shall fix the denomination or denominations of the bonds
10-16 and the place or places of payment of principal and
10-17 interest thereof, which may be at any bank or trust
10-18 company within or without the state. The bonds may be
10-19 issued in coupon or registered form, or both, as the
10-20 authority may determine, and provision may be made for the
10-21 registration of any coupon bond as to principal alone and
10-22 also as to both principal and interest.
10-23 (c) In case any officer whose signature appears on any
10-24 bonds or whose facsimile signature appears on any coupon
10-25 ceases to be such officer before the delivery of such
10-26 bonds, such signature shall nevertheless be valid and
10-27 sufficient for all purposes the same as if such officer
10-28 had remained in office until such delivery. All such
10-29 bonds shall be signed by the chairperson or vice
10-30 chairperson of the authority, and the official seal of the
10-31 authority shall be affixed thereto and attested by the
10-32 secretary or assistant secretary of the authority; and any
10-33 coupons attached thereto shall bear the signature or
10-34 facsimile signature of the chairperson or vice chairperson
10-35 of the authority. Any coupon may bear the facsimile
10-36 signature of such person, and any bond may be signed,
10-37 sealed, and attested on behalf of the authority by such
10-38 persons as at the actual time of the execution of such
10-39 bonds shall be duly authorized or hold the proper office,
10-40 although at the date of such bonds such persons may not
10-41 have been so authorized or shall not have held such
10-42 office.
10-43 (d) All revenue bonds issued under this article shall have
10-44 and are declared to have all the qualities and incidents
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11- 1 of negotiable instruments. Such bonds and the income
11- 2 therefrom shall be exempt from all taxation within the
11- 3 state.
11- 4 (e) The authority may sell bonds in such manner and for
11- 5 such price as it may determine to be for the best
11- 6 interests of the authority.
11- 7 (f) The proceeds of bonds shall be used solely for the
11- 8 payment of the cost of the project and shall be disbursed
11- 9 upon requisition or order of the chairperson or vice
11-10 chairperson of the authority under such restrictions, if
11-11 any, as provided by the resolution authorizing the
11-12 issuance of the bonds or by the trust indenture mentioned
11-13 in subsection (k) of this Code section.
11-14 (g) Prior to the preparation of definitive bonds, the
11-15 authority may, under like restrictions, issue interim
11-16 receipts, interim certificates, or temporary bonds, with
11-17 or without coupons, exchangeable for definitive bonds upon
11-18 the issuance of the latter.
11-19 (h) The authority may provide for the replacement of any
11-20 bond which becomes mutilated or is destroyed or lost.
11-21 (i) Revenue bonds may be issued without the conducting of
11-22 any proceedings, the existence of any conditions, or the
11-23 happening of any events other than those proceedings,
11-24 conditions, and events which are specified or required by
11-25 this article. In the discretion of the authority, revenue
11-26 bonds of a single issue may be issued for the purpose of
11-27 paying the cost of any one project or any combination of
11-28 projects at any one institution or any number of
11-29 institutions. Any resolution providing for the issuance
11-30 of revenue bonds under this article shall become effective
11-31 immediately upon its passage and need not be published or
11-32 posted. Any such resolution may be passed at any regular,
11-33 special, or adjourned meeting of the authority by a
11-34 majority of its members.
11-35 (j) Revenue bonds issued under this article shall not be
11-36 deemed to constitute a debt of the State of Georgia or a
11-37 pledge of the faith and credit of the state. Such bonds
11-38 shall be payable solely from the fund provided for in
11-39 subsections (m) through (p) of this Code section, and the
11-40 issuance of such revenue bonds shall not directly,
11-41 indirectly, or contingently obligate the state to levy or
11-42 to pledge any form of taxation whatever therefor or to
11-43 make any appropriation for their payment. All such bonds
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12- 1 shall contain recitals on their faces covering
12- 2 substantially the foregoing provisions of this Code
12- 3 section. Anything in this Code section to the contrary
12- 4 notwithstanding, such funds as may be received from state
12- 5 appropriations or from any other source are declared to be
12- 6 available and may be used by any department, board,
12- 7 commission, or agency of the State of Georgia for the
12- 8 performance of any lease contract entered into by such
12- 9 department, board, commission, or agency with the
12-10 authority.
12-11 (k)(1) In the discretion of the authority, any issue of
12-12 revenue bonds may be secured by a trust indenture by and
12-13 between the authority and a corporate trustee, which may
12-14 be any trust company or bank having the powers of a
12-15 trust company inside or outside of the state. Such
12-16 trust indenture may pledge or assign rents, revenues,
12-17 and earnings to be received by the authority.
12-18 (2) Either the resolution providing for the issuance of
12-19 revenue bonds or the trust indenture may contain such
12-20 provisions for protecting and enforcing the rights and
12-21 remedies of the bondholders as may be reasonable and
12-22 proper and not in violation of law, including covenants
12-23 setting forth the duties of the authority in relation to
12-24 the acquisition of property, the construction of a
12-25 project, the maintenance, operation, repair, and
12-26 insurance of a project, and the custody, safeguarding,
12-27 and application of all moneys. The resolution or
12-28 indenture may also provide that any project shall be
12-29 constructed and paid for under the supervision and
12-30 approval of consulting engineers or architects employed
12-31 or designated by the authority and satisfactory to the
12-32 original purchasers of the bonds issued therefor. The
12-33 resolution or indenture may also require that the
12-34 security given by contractors and by any depository of
12-35 the proceeds of the bonds or revenues or other moneys be
12-36 satisfactory to such purchasers and may also contain
12-37 provisions concerning the conditions, if any, upon which
12-38 additional revenue bonds may be issued.
12-39 (3) The indenture may set forth the rights and remedies
12-40 of the bondholders and of the trustee and may restrict
12-41 the individual right of action of bondholders as is
12-42 customary in trust indentures securing bonds and
12-43 debentures of corporations. In addition to the foregoing
12-44 provisions of this Code section, the trust indenture may
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13- 1 contain such other provisions as the authority may deem
13- 2 reasonable and proper for the security of the
13- 3 bondholders.
13- 4 (4) It shall be lawful for any bank or trust company
13- 5 incorporated under the laws of this state to act as such
13- 6 depository and to furnish such indemnifying bonds or
13- 7 pledge such securities as may be required by the
13- 8 authority.
13- 9 (5) All expenses incurred in carrying out the trust
13-10 indenture may be treated as a part of the cost of
13-11 maintenance, operation, and repair of the project and of
13-12 the cost of the project affected by such indenture.
13-13 (l) The authority shall, in the resolution providing for
13-14 issuance of revenue bonds or in the trust indenture,
13-15 provide for the payment of the proceeds of the sale of the
13-16 bonds to any officer or person who, or any agency, bank,
13-17 or trust company which, shall act as trustee of such funds
13-18 and shall hold and apply the same to the purposes
13-19 expressed in this article, subject to such regulations as
13-20 this article and such resolution or trust indenture may
13-21 provide.
13-22 (m) Unless otherwise pledged and allocated, any and all
13-23 revenues, rents, and earnings received by the authority,
13-24 regardless of whether or not such revenues, rents, and
13-25 earnings were produced by a particular project for which
13-26 bonds have been issued, may be pledged and allocated by
13-27 the authority to the payment of the principal and interest
13-28 on revenue bonds of the authority as the trust indenture
13-29 or the resolution authorizing the issuance of the bonds
13-30 may provide.
13-31 (n) Such funds so pledged from whatever source received,
13-32 which pledge may include funds received from one or more
13-33 or all sources, shall be set aside at regular intervals,
13-34 as may be provided in the resolution or trust indenture,
13-35 into a sinking fund which shall be pledged to and charged
13-36 with the payment of:
13-37 (1) The interest upon such revenue bonds as such
13-38 interest shall fall due;
13-39 (2) The principal of the bonds as the same shall fall
13-40 due;
13-41 (3) The necessary charges of paying agents for paying
13-42 principal and interest; and
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14- 1 (4) Any premium upon bonds retired by call or purchase.
14- 2 (o) The use and disposition of such sinking fund shall be
14- 3 subject to such regulations as may be provided in the
14- 4 resolution authorizing the issuance of the revenue bonds
14- 5 or in the trust indenture, but, except as may otherwise be
14- 6 provided in such resolution or trust indenture, such
14- 7 sinking fund shall be a fund for the benefit of all
14- 8 revenue bonds without distinction or priority of one over
14- 9 another.
14-10 (p) Subject to the provisions of the resolution
14-11 authorizing the issuance of the bonds, or subject to the
14-12 trust indenture, surplus moneys in the sinking fund may be
14-13 applied to the purchasing or redemption of bonds, and any
14-14 such bonds so purchased or redeemed shall forthwith be
14-15 canceled and shall not again be issued.
14-16 (q) Except to the extent the rights given in this Code
14-17 section may be restricted by resolution passed before the
14-18 issuance of bonds or by a trust indenture, any holder of
14-19 revenue bonds or interest coupons issued under this
14-20 article, any receiver for such holders, or any indenture
14-21 trustee, if any, may either at law or in equity, by
14-22 action, mandamus, or other proceedings, protect and
14-23 enforce any and all rights under the laws of the State of
14-24 Georgia or granted by this article or under such
14-25 resolution or trust indenture. Such holder, receiver, or
14-26 trustee may enforce and compel performance of all duties
14-27 required by this article, or by resolution or trust
14-28 indenture, to be performed by the authority or any officer
14-29 thereof, including the fixing, charging, and collecting of
14-30 revenues, rents, and other charges for the use of the
14-31 project or projects. In the event of default of the
14-32 authority upon the principal and interest obligations of
14-33 any revenue bond issue, such holder, receiver, or trustee
14-34 shall be subrogated to each and every right which the
14-35 authority may possess and, in the pursuit of any remedies
14-36 as subrogee, may proceed either at law or in equity, by
14-37 action, mandamus, or other proceedings to collect any sums
14-38 by such proceedings due and owing to the authority and
14-39 pledged or partially pledged directly or indirectly to the
14-40 benefit of the revenue bond issue of which such holder,
14-41 receiver, or trustee is representative. No holder,
14-42 receiver, or trustee shall have the right to compel any
14-43 exercise of the taxing power of the state to pay any such
14-44 bond or the interest thereon, or to enforce the payment
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15- 1 thereof against any property of the state, nor shall any
15- 2 such bond constitute a charge, lien, or encumbrance, legal
15- 3 or equitable, upon the property of the state.
15- 4 (r) The authority is authorized to provide by resolution
15- 5 for the issuance of revenue refunding bonds of the
15- 6 authority for the purpose of refunding any revenue bonds
15- 7 issued under this article and then outstanding, together
15- 8 with accrued interest thereon. The issuance of such
15- 9 revenue refunding bonds, the maturities, and all other
15-10 details thereof, the rights of the holders thereof, and
15-11 the duties of the authority in respect to the same shall
15-12 be governed by the foregoing provisions of this article
15-13 insofar as the same may be applicable.
15-14 (s) While any of the bonds issued by the authority remain
15-15 outstanding, the powers, duties, or existence of the
15-16 authority, or of its officers, employees, or agents, or of
15-17 any department, board, commission, or agency of the state
15-18 shall not be diminished or impaired in any manner that
15-19 will affect adversely the interests and rights of the
15-20 holders of such bonds. This article shall be for the
15-21 benefit of the state, the authority, and the holders of
15-22 any such bonds and, upon the issuance of bonds under this
15-23 article, shall constitute a contract with the holders of
15-24 such bonds.
15-25 (t) Bonds of the authority shall be confirmed and
15-26 validated in accordance with the procedure of Article 3 of
15-27 Chapter 82 of Title 36. The petition for validation shall
15-28 also make party defendant to such action any authority,
15-29 division, subdivision, instrumentality, or agency of the
15-30 State of Georgia which, or any person who, has contracted
15-31 with the authority for the use of any building, structure,
15-32 or facilities for which bonds have been issued and sought
15-33 to be validated. Such authority, division, subdivision,
15-34 instrumentality, agency, or person shall be required to
15-35 show cause, if any, why such contract or contracts and the
15-36 terms and conditions thereof should not be inquired into
15-37 by the court, the validity of the terms thereof
15-38 determined, and the contract adjudicated as security for
15-39 the payment of any such bonds of the authority. The bonds
15-40 when validated and the judgment of validation shall be
15-41 final and conclusive with respect to such bonds and
15-42 against the authority issuing the same and against any
15-43 authority, division, subdivision, instrumentality,
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16- 1 department, agency, or person contracting with the
16- 2 authority.
16- 3 (u) No bonds shall be issued by the authority under this
16- 4 article unless the issuance of such bonds has been
16- 5 reviewed and approved by the Georgia State Financing and
16- 6 Investment Commission.
16- 7 (v) The bonds authorized by this article are made
16- 8 securities in which all public officers and bodies of this
16- 9 state; all municipalities and all municipal subdivisions;
16-10 all insurance companies and associations and other persons
16-11 carrying on an insurance business; all banks, bankers,
16-12 trust companies, savings banks, and savings associations,
16-13 including savings and loan associations, building and loan
16-14 associations, investment companies, and other persons
16-15 carrying on a banking business; all administrators,
16-16 guardians, executors, trustees, and other fiduciaries; and
16-17 all other persons whatsoever who are now or may hereafter
16-18 be authorized to invest in bonds or other obligations of
16-19 the state may properly and legally invest funds, including
16-20 capital in their control or belonging to them. The bonds
16-21 are also made securities which may be deposited with and
16-22 shall be received by all public officers and bodies of
16-23 this state and all municipalities and municipal
16-24 subdivisions for any purpose for which the deposit of the
16-25 bonds or other obligations of this state is now or may
16-26 hereafter be authorized.
ARTICLE 2
16-27 20-14-30. (Index)
16-28 There is created as a joint committee of the General
16-29 Assembly the Georgia State Museum Authority Overview
16-30 Committee to be composed of five members of the House of
16-31 Representatives appointed by the Speaker of the House and
16-32 five members of the Senate appointed by the President of
16-33 the Senate. The members of the committee shall serve
16-34 two-year terms concurrent with their terms as members of
16-35 the General Assembly. The chairperson of the committee
16-36 shall be appointed by the Speaker of the House of
16-37 Representatives from the membership of the committee, and
16-38 the vice chairperson of the committee shall be appointed
16-39 by the President of the Senate from the membership of the
16-40 committee. The chairperson and vice chairperson shall
16-41 serve terms of two years concurrent with their terms as
16-42 members of the General Assembly. Vacancies in an
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17- 1 appointed member's position or in the offices of
17- 2 chairperson or vice chairperson of the committee shall be
17- 3 filled for the unexpired term in the same manner as the
17- 4 original appointment. The committee shall periodically
17- 5 inquire into and review the operations of the authority,
17- 6 as well as periodically review and evaluate the success
17- 7 with which the authority is accomplishing its statutory
17- 8 duties and functions as provided in this article.
17- 9 20-14-31. (Index)
17-10 The state auditor, the Attorney General, and all other
17-11 agencies of state government, upon request by the
17-12 committee, shall assist the committee in the discharge of
17-13 its duties as set forth in this article. The committee
17-14 may employ not more than two staff members and may secure
17-15 the services of independent accountants, engineers, and
17-16 consultants.
17-17 20-14-32. (Index)
17-18 The authority shall cooperate with the committee, its
17-19 authorized personnel, the Attorney General, the state
17-20 auditor, and other state agencies in order that the
17-21 charges of the committee, set forth in this article, may
17-22 be timely and efficiently discharged. The authority shall
17-23 submit to the committee such reports and data as the
17-24 committee shall reasonably require of the authority in
17-25 order that the committee may adequately perform its
17-26 functions. The Attorney General is authorized to bring
17-27 appropriate legal actions to enforce any laws specifically
17-28 or generally relating to the authority. The committee
17-29 shall, on or before the first day of January of each year,
17-30 and at such other times as it deems necessary, submit to
17-31 the General Assembly a report of its findings and
17-32 recommendations based upon the review of the authority, as
17-33 set forth in this article.
17-34 20-14-33. (Index)
17-35 In the discharge of its duties, the committee shall
17-36 evaluate the performance of the authority consistent with
17-37 the following criteria:
17-38 (1) Prudent, legal, and accountable expenditure of
17-39 public funds;
17-40 (2) Efficient operation; and
17-41 (3) Performance of its statutory responsibilities.
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18- 1 20-14-34. (Index)
18- 2 (a) The committee is authorized to expend state funds
18- 3 available to the committee for the discharge of its
18- 4 duties. Said funds may be used for the purposes of
18- 5 compensating staff personnel, paying for services of
18- 6 independent accountants, engineers, and consultants, and
18- 7 paying all other necessary expenses incurred by the
18- 8 committee in performing its duties.
18- 9 (b) The members of the committee shall receive the same
18-10 compensation, per diem, expenses, and allowances for their
18-11 service on the committee as is authorized by law for
18-12 members of interim legislative study committees.
18-13 (c) The funds necessary for the purposes of the committee
18-14 shall come from the funds appropriated to and available to
18-15 the legislative branch of government."
SECTION 2.
18-16 All laws and parts of laws in conflict with this Act are
18-17 repealed.
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Office of the Clerk of the House
Robert E. Rivers, Jr., Clerk of the House
Last Updated on 01/02/97