Georgia 2023-2024 Regular Session

Georgia House Bill HB1504 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	24 HB 1504/AP
2		-	House Bill 1504 (AS PASSED HOUSE AND SENATE)
3		-	By: Representatives Camp of the 135
4		-	th
5		-	, Mathiak of the 74
6		-	th
7		-	, Dickey of the 145
8		-	th
9		-	, Crowe of
10		-	the 118
11		-	th
12		-	, Knight of the 134
13		-	th
14		-	, and others
	1	+	24 LC 44 2849S
	2	+	Senators Harbin of the 16th, Williams of the 25th and Kennedy of the 18th offered the
	3	+	following substitute to HB 1504:
15	4		A BILL TO BE ENTITLED
16	5		AN ACT
17		-	To create and establish the Griffin-Spalding County Area Regional Airport Authority, a new
18		-	1
	6	+	To create and establish the Griffin-Spalding County Area Regional Airport Authority, a new1
19	7		regional airport authority in and for the County of Spalding, the City of Griffin, the County2
20	8		of Butts, the County of Lamar, the County of Pike, and the County of Monroe; to authorize3
21	9		such authority to acquire, construct, equip, maintain, operate, own, and improve airports and4
22	10		landing fields for the use of aircraft which shall include related buildings, equipment, and the5
23	11		usual and convenient facilities appertaining to such undertaking; to authorize the authority6
24	12		to acquire, lease, own, and hold a fee simple title, or any interest therein, to all necessary7
25	13		property therefor, both real and personal, within and outside the confines of Spalding County8
26	14		and to convey, lease, and sell any and all such facilities including real property; to confer9
27	15		powers and to impose duties on the authority; to provide for the membership and for the10
28	16		appointment of members of the authority and their term of tenure and their compensation;11
29	17		to authorize the authority to contract with others, both within and outside the confines of the12
30	18		aforementioned counties, pertaining to airports and landing fields for the use of aircraft and13
31	19		to execute leases of such facilities and to do all things deemed necessary or convenient for14
32	20		the operation of such undertaking; to authorize the issuance of revenue bonds or obligations15
33	21		of the authority payable from the revenues, tolls, fees, charges, and earnings of the authority,16
34	22		including, but not limited to, earnings derived from leases and the use of the facilities, to pay17
35	23		the costs of such undertakings and to authorize the collection and pledging of the revenues18
36		-	H. B. 1504
37		-	- 1 - 24 HB 1504/AP
38		-	and earnings of the authority for the payment of such bonds or obligations or to secure the
39		-	19
	24	+	- 1 - 24 LC 44 2849S
	25	+	and earnings of the authority for the payment of such bonds or obligations or to secure the19
40	26		payment thereof by contract, mortgage, deed to secure debt, security deed note, or trust deed20
41	27		and to define the rights of the holders of such bonds and securities; to provide that no liability21
42	28		or debt against the aforementioned city or counties shall be incurred in the exercise of any22
43	29		powers granted by this Act; to make the bonds, securities, or obligations of the authority23
44	30		exempt from taxation; to authorize the issuance of refunding bonds, securities, or other24
45	31		obligations; to provide that such bonds, securities, or other obligations be validated as25
46	32		authorized by the "Revenue Bond Law"; to provide an effective date; to repeal conflicting26
47	33		laws; and for other purposes.27
48	34		BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:28
49	35		SECTION 1.29
50	36		Short title.30
51	37		This Act shall be known and may be cited as the "Griffin-Spalding County Area Regional31
52	38		Airport Authority Act."32
53	39		SECTION 2.33
54	40		Griffin-Spalding County Area Regional Airport Authority; creation.34
55	41		There is created a body corporate and politic to be known as the Griffin-Spalding County35
56	42		Area Regional Airport Authority, which shall be deemed to be a political subdivision of the36
57	43		State of Georgia and a public corporation by that name, style, and title, and said body may37
58	44		contract and be contracted with, bring and defend actions, implead and be impleaded, and38
59	45		complain and defend in all courts of law and equity, except that the authority of the trustee39
60	46		acting under the trust indenture herein provided for shall in no event be liable for any torts40
61		-	H. B. 1504
62		-	- 2 - 24 HB 1504/AP
63		-	committed by any of the officers, agents, and employees of the authority. The authority shall
64		-	41
	47	+	- 2 - 24 LC 44 2849S
	48	+	committed by any of the officers, agents, and employees of the authority. The authority shall41
65	49		have perpetual existence.42
66	50		SECTION 3.43
67	51		Membership.44
68	52		The Griffin-Spalding County Area Regional Airport Authority shall be composed of 1145
69	53		members who shall be appointed by the governing authorities of the County of Spalding,46
70	54		City of Griffin, County of Butts, County of Lamar, County of Pike, and County of Monroe47
71	55		as hereinafter set out. Within 60 days after the approval of this Act, it shall be the duty of48
72	56		said governing authorities to appoint the membership of the authority. The authority shall49
73	57		be composed of 11 members to be designated as Post No. 1, Post No. 2, Post No. 3, Post No.50
74	58		4, Post No. 5, Post No. 6, Post No. 7, Post No. 8, Post No. 9, Post No. 10, and Post No. 11. 51
75	59		The County Manager of Spalding County or designee shall be appointed to Post No. 1. The52
76	60		City Manager for the City of Griffin or designee shall be appointed to Post No. 2. The53
77	61		County Manager of Butts County or designee shall be appointed to Post No. 3. The County54
78	62		Manager of Lamar County or designee shall be appointed to Post No. 4. The County55
79	63		Manager of Pike County or designee shall be appointed to Post No. 5. The County Manager56
80	64		of Monroe County or designee shall be appointed to Post No. 6. The member from Post No.57
81	65		7 shall be appointed by the governing authority of Spalding County, and its initial58
82	66		appointment shall be the same as its current appointment to the Griffin-Spalding County59
83	67		Airport Authority for Post No. 5, for a term which shall expire on December 31, 2024, or60
84	68		when his or her successor is appointed and qualified. The member from Post No. 8 shall be61
85	69		appointed by the governing authority of the City of Griffin, and its initial appointment shall62
86	70		be the same as its current appointment to the Griffin-Spalding County Airport Authority for63
87	71		Post No. 6, for a term which shall expire on December 31, 2025, or when his or her successor64
88	72		is appointed and qualified. The member from Post No. 9 shall be appointed by the governing65
89		-	H. B. 1504
90		-	- 3 - 24 HB 1504/AP
91		-	authority of Spalding County, and its initial appointment shall be the same as its current
92		-	66
	73	+	- 3 - 24 LC 44 2849S
	74	+	authority of Spalding County, and its initial appointment shall be the same as its current66
93	75		appointment to the Griffin-Spalding County Airport Authority for Post No. 7, for a term67
94	76		which shall expire on December 31, 2026, or when his or her successor is appointed and68
95	77		qualified. The member from Post No. 10 shall be appointed by the governing authority of69
96	78		the City of Griffin, and its initial appointment shall be the same as its current appointment70
97	79		to the Griffin-Spalding County Airport Authority for Post No. 8, for a term which shall71
98	80		expire on December 31, 2027, or when his or her successor is appointed and qualified. The72
99	81		member from Post No. 11 shall be appointed by the governing authority of the City of73
100	82		Griffin, and its initial appointment shall be the same as its current appointment to the74
101	83		Griffin-Spalding County Airport Authority for Post No. 9, for a term which shall expire on75
102	84		December 31, 2028, or when his or her successor is appointed and qualified; thereafter, such76
103	85		member from Post No. 11 shall be appointed to a full four-year term by the governing77
104	86		authority of Spalding County. Future appointments to Post No. 11 shall alternate between78
105	87		the governing authority of the City of Griffin and the governing authority of Spalding79
106	88		County. For Posts No. 7 through 11, the term of each member shall be four years and until80
107	89		a successor is appointed and qualified, except that the initial terms shall be as aforesaid.81
108	90		Following initial appointments, vacancies in each post, other than Post No. 11, shall be filled82
109	91		by the governing authority making the initial appointment.83
110	92		SECTION 4.84
111	93		Meetings.85
112	94		The authority shall hold its organizational meeting on April 30, 2024, at 10:00 A.M. in the86
113	95		City Courtroom, One Griffin Center, 100 S. Hill Street, Griffin, Georgia. Notice of such87
114	96		meeting shall be given to the local organ of each county not less than 15 days prior thereto,88
115	97		and a notice shall be posted on the website for each county and the City of Griffin. The89
116	98		authority shall meet at such times as may be necessary to transact the business coming before90
117		-	H. B. 1504
118		-	- 4 - 24 HB 1504/AP
119		-	it, but not less than quarterly. All meetings shall be called, noticed, and conducted in
120		-	91
	99	+	- 4 - 24 LC 44 2849S
	100	+	it, but not less than quarterly. All meetings shall be called, noticed, and conducted in91
121	101		accordance with Chapter 14 of Title 50 of the O.C.G.A., the "Open Meetings Law." At its92
122	102		organizational meeting and its first regular meeting in January of each year thereafter, the93
123	103		authority shall elect one of its members as its chairperson and another member as94
124	104		secretary-treasurer. It shall be the duty of the secretary-treasurer to prepare or oversee the95
125	105		preparation of written minutes of all meetings of the authority. Only one person shall hold96
126	106		the office of secretary-treasurer. These officers shall be elected for a term ending on97
127	107		December 31 of the year in which they were elected or until their successors are elected and98
128	108		qualified. Five members of the authority shall constitute a quorum for the transaction of all99
129	109		business coming before it. The members of the authority may be compensated as determined100
130	110		from time to time by said governing authorities; however, it is expressly provided that they101
131	111		shall be reimbursed for all actual, reasonable, and necessary expenses incurred in the102
132	112		performance of their duties.103
133	113		SECTION 5.104
134	114		Vacancies in office.105
135	115		In the event of a vacancy on the authority by reason of death, resignation, or otherwise, the106
136	116		vacancy shall be filled by the governing authority which appointed such member, and the107
137	117		person so appointed shall serve for the remainder of the unexpired term.108
138	118		SECTION 6.109
139	119		Definitions.110
140	120		(a) As used in this Act, the term:111
141	121		(1) "Authority" means the "Griffin-Spalding County Area Regional Airport Authority"112
142	122		created in Section 2 of this Act.113
143		-	H. B. 1504
144		-	- 5 - 24 HB 1504/AP
145		-	(2) "Cost of the project" means the cost of construction; the cost of all lands, properties,
146		-	114
	123	+	- 5 - 24 LC 44 2849S
	124	+	(2) "Cost of the project" means the cost of construction; the cost of all lands, properties,114
147	125		rights, easements, and franchises acquired; the cost of all machinery, equipment,115
148	126		financing charges, and interest prior to and during construction; the cost of engineering,116
149	127		architectural, fiscal, and legal expenses; the cost of plans and specifications; and such117
150	128		other expenses as may be necessary or incidental to the financing herein authorized, the118
151	129		construction or improvement of any project, and the placing of the same in operation.119
152	130		Any obligation or expense incurred for any of the foregoing purposes shall be regarded120
153	131		as a part of the cost of the project and may be paid or reimbursed as such out of any funds121
154	132		of the authority including the proceeds from any revenue bonds issued under the122
155	133		provisions of this Act for any such project or projects.123
156	134		(3) "Project" means and includes the leasing, acquisition, construction, equipping,124
157	135		maintenance, improving, and operation of public airports and landing fields for the use125
158	136		of aircraft, related buildings, and the usual and convenient facilities appertaining to such126
159	137		undertakings; extensions and improvements of such facilities; the acquisition of necessary127
160	138		property, both real and personal; and the lease and sale of any part of or all of such128
161	139		facilities, including real and personal property, so as to assure the efficient and proper129
162	140		development, maintenance, and operation of such airports and landing fields for the use130
163	141		of aircraft, deemed by the authority to be necessary, convenient, or desirable for the131
164	142		operation of such airports and landing fields anywhere within Spalding County.132
165	143		(4) "Revenue bonds," "bonds," or "obligations" mean revenue bonds as defined and133
166	144		provided for in Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond134
167	145		Law," and such type of obligations may be issued by the authority as authorized under135
168	146		said "Revenue Bond Law" and any amendments thereto, and in addition shall also mean136
169	147		obligations of the authority the issuance of which are hereinafter authorized in this Act.137
170	148		(b) Any project shall be deemed "self-liquidating" if, in the judgment of the authority, the138
171	149		revenues and earnings to be derived by the authority therefrom and all properties used,139
172	150		leased, and sold in connection therewith will be sufficient to pay the cost of constructing,140
173		-	H. B. 1504
174		-	- 6 - 24 HB 1504/AP
175		-	operating, maintaining, repairing, improving, and extending the project and to pay the
176		-	141
	151	+	- 6 - 24 LC 44 2849S
	152	+	operating, maintaining, repairing, improving, and extending the project and to pay the141
177	153		principal and interest of the revenue bonds which may be issued to finance, in whole or in142
178	154		part, the cost of such project or projects.143
179	155		SECTION 7.144
180	156		Powers.145
181	157		(a) The authority shall have power:146
182	158		(1) To have a seal and alter the same at its pleasure;147
183	159		(2) To acquire by purchase, lease, or otherwise and to hold, lease, and, subject to review148
184	160		and approval by the Federal Aviation Administration, dispose of real and personal149
185	161		property of every kind and character for its corporate purposes;150
186	162		(3) To acquire in its own name by purchase, gift, or otherwise on such terms and151
187	163		conditions and in such manner as it may deem proper, real property or rights or easements152
188	164		therein or franchises necessary or convenient for its corporate purposes, and to use the153
189	165		same so long as its corporate existence shall continue, and to lease or make contracts with154
190	166		respect to the use of or disposition of the same in any manner it deems to the best155
191	167		advantage of the authority;156
192	168		(4) To appoint, select, and employ officers and employees, or, in the alternative, the157
193	169		authority may contract with the City of Griffin for its officers and employees or may158
194	170		contract with the city for personnel services and benefits, including payroll, insurance,159
195	171		and retirement programs. The authority may enter into contracts with consultants and160
196	172		independent contractors, including engineering, architectural, and construction experts,161
197	173		fiscal agents, and attorneys, and fix their respective compensation;162
198	174		(5) To make contracts, leases, and to execute all instruments necessary or convenient163
199	175		including contracts for construction of projects or leases of projects or contracts with164
200	176		respect to the use of projects which it causes to be erected or acquired and any and all165
201		-	H. B. 1504
202		-	- 7 - 24 HB 1504/AP
203		-	persons, firms, and corporations and any and all political subdivisions, departments,
204		-	166
	177	+	- 7 - 24 LC 44 2849S
	178	+	persons, firms, and corporations and any and all political subdivisions, departments,166
205	179		institutions, or agencies of the state are authorized to enter into contracts, leases, or167
206	180		agreements with the authority upon such terms and for such purposes as they may deem168
207	181		advisable; the authority is further granted the authority to make contracts, leases, and to169
208	182		execute all instruments necessary or convenient with the United States government or any170
209	183		agency or department thereof concerning the projects of the authority, subject to the171
210	184		rights and interests of the holder of any of the bonds or obligations authorized to be172
211	185		issued hereunder, and by the resolution or trust indenture of the authority authorizing the173
212	186		issuance of any of its bonds or obligations as provided for in this Act;174
213	187		(6) To construct, erect, acquire, own, repair, remodel, maintain, add to, extend, improve,175
214	188		equip, operate, and manage projects, as hereinabove defined, the cost of any such project176
215	189		to be paid in whole or in part from the proceeds of revenue bonds or other funds of the177
216	190		authority or from such proceeds or other funds and any grant from the United States of178
217	191		America, State of Georgia, County of Spalding, City of Griffin, or any agency or179
218	192		instrumentality thereof;180
219	193		(7) To accept loans and grants, or to accept loans or grants of money or materials or181
220	194		property of any kind from the United States of America or any agency or instrumentality182
221	195		or political subdivision thereof or from any other source, upon such terms and conditions183
222	196		as the United States of America or such agency or instrumentality or other source may184
223	197		impose;185
224	198		(8) To accept loans and grants, or to accept loans or grants of money or materials or186
225	199		property of any kind from the State of Georgia or any agency or instrumentality or187
226	200		political subdivision thereof or from any other source, upon such terms and conditions188
227	201		as the State of Georgia or such agency or instrumentality or political subdivision or any189
228	202		other source may impose;190
229	203		(9) To borrow money for any of its corporate purposes and to execute evidence of such191
230	204		indebtedness by promissory notes, or otherwise, and to secure the same and to issue192
231		-	H. B. 1504
232		-	- 8 - 24 HB 1504/AP
233		-	negotiable revenue bonds payable solely from funds pledged for that purpose, and to
234		-	193
	205	+	- 8 - 24 LC 44 2849S
	206	+	negotiable revenue bonds payable solely from funds pledged for that purpose, and to193
235	207		provide for the payment of the same and for the rights of the holders thereof;194
236	208		(10) To exercise any power usually possessed by private corporations performing similar195
237	209		functions, which is not in conflict with the Constitution and laws of this state, except the196
238	210		right of eminent domain;197
239	211		(11) The authority and the trustee acting under the trust indenture are specifically198
240	212		authorized from time to time, subject to review and approval by the Federal Aviation199
241	213		Administration, to sell, lease, grant, exchange, or otherwise dispose of any surplus200
242	214		property, both real or personal, or interest therein not required in the normal operation of201
243	215		and usable in the furtherance of the purpose for which the authority was created;202
244	216		(12) To do all things necessary or convenient to exercise and carry out the powers203
245	217		especially given in this Act;204
246	218		(13) To make rules and bylaws for the orderly operation of the authority; and205
247	219		(14) To request the city or county to exercise the power of eminent domain to acquire206
248	220		any private real property or any rights or interests therein including any easements, as207
249	221		necessary or convenient for the accomplishment of the purposes of this Act, in208
250	222		accordance with the provisions of any and all existing laws applicable to the exercise of209
251	223		such power. The authority shall pay the condemning authority for any property210
252	224		condemned under this power, including legal fees and expenses (such as surveys and211
253	225		appraisals), from its own funds and in proceedings to condemn pursuant to this section,212
254	226		the court having jurisdiction of the suit, action, or proceeding may enter such orders213
255	227		regarding the payment for such property or interest therein as may be fair and just to the214
256	228		city or county, the authority, and the owners of the property being condemned. Any such215
257	229		procedure may suggest the method of payment by the authority to persons who shall own216
258	230		or have an interest in the property.217
259	231		(b) The authority, notwithstanding any other provision herein to the contrary, is authorized218
260	232		to exercise each and every power conferred upon it by this Act, specifically including the219
261		-	H. B. 1504
262		-	- 9 - 24 HB 1504/AP
263		-	issuance of revenue bonds, both within and outside the confines of Spalding County, and to
264		-	220
	233	+	- 9 - 24 LC 44 2849S
	234	+	issuance of revenue bonds, both within and outside the confines of Spalding County, and to220
265	235		contract with any other entity, governmental or otherwise, for the joint acquisition,221
266	236		construction, use, or operation of airports and related facilities outside the limits of Spalding222
267	237		County. Prior to exercising any of said powers outside the limits of Spalding County, said223
268	238		authority shall be required to obtain the approval of the governing authorities of both the City224
269	239		of Griffin and Spalding County.225
270	240		SECTION 8.226
271	241		Revenue bonds.227
272	242		The authority, or any authority or body which has or which may in the future succeed to the228
273	243		powers, duties, and liabilities vested in the authority created hereby, shall have power and229
274	244		is authorized at one time, or from time to time, to provide by resolution for the issuance of230
275	245		negotiable revenue bonds, for the purpose of paying all or any part of the cost as herein231
276	246		defined of any one or more projects. The principal and interest of such revenue bonds shall232
277	247		be payable solely from the special fund herein provided for such payment. The bonds of233
278	248		each issue shall be dated, shall bear interest at such rate or rates as may be authorized by the234
279	249		authority from time to time, shall be payable as provided by resolution of the authority, shall235
280	250		mature at such time or times not exceeding 30 years from their date or dates, shall be payable236
281	251		in such medium of payment as to both principal and interest as may be determined by the237
282	252		authority, and may be made redeemable before maturity at the option of the authority, at such238
283	253		price or prices and under such terms and conditions as may be fixed by the authority in the239
284	254		resolution providing for the issuance of the bonds. Such revenue bonds or obligations shall240
285	255		be issued pursuant to and in conformity with Article 3 of Chapter 82 of Title 36 of the241
286	256		O.C.G.A., the "Revenue Bond Law," and all procedures pertaining to such issuance and the242
287	257		conditions thereof shall be the same as those contained in said "Revenue Bond Law" and any243
288	258		amendments thereof.244
289		-	H. B. 1504
290		-	- 10 - 24 HB 1504/AP
291		-	SECTION 9.
292		-	245
	259	+	- 10 - 24 LC 44 2849S
	260	+	SECTION 9.245
293	261		Form, denominations, registration, place of payment.246
294	262		The authority shall determine the form of the bonds, shall fix the denomination or247
295	263		denominations of the bonds, and the place or places of payment of principal and interest248
296	264		thereof, which may be at any bank or trust company within or outside the state. The bonds249
297	265		may be issued in coupon or registered form, or both, as the authority may determine, and250
298	266		provision may be made for the registration of any coupon bond as to principal alone and also251
299	267		as to both the principal and interest.252
300	268		SECTION 10.253
301	269		Signatures, seal.254
302	270		In case any officer whose signature shall appear on any bonds or whose facsimile signature255
303	271		shall appear on any coupon shall cease to be such officer before the delivery of such bonds,256
304	272		such signature shall nevertheless be valid and sufficient for all purposes the same as if he or257
305	273		she had remained in office until such delivery. All such bonds shall be signed by the258
306	274		chairperson of the authority and attested by the secretary-treasurer of the authority, and the259
307	275		official seal of the authority shall be affixed thereto, and any coupons attached thereto shall260
308	276		bear the facsimile signatures of the chairperson and secretary-treasurer of the authority. Any261
309	277		bond may be signed, sealed, and attested on behalf of the authority by such persons as at the262
310	278		actual time of the execution of such bonds shall be duly authorized or hold the proper office,263
311	279		although at the date of delivery and payment of such bonds such persons may not have been264
312	280		so authorized or shall not have held such office.265
313		-	H. B. 1504
314		-	- 11 - 24 HB 1504/AP
315		-	SECTION 11.
316		-	266
	281	+	- 11 - 24 LC 44 2849S
	282	+	SECTION 11.266
317	283		Negotiability, exemption from taxation.267
318	284		All revenue bonds issued under the provisions of this Act shall have and are declared to have268
319	285		all the qualities and incidents of negotiable instruments under the negotiable instrument law269
320	286		of the state. Such bonds are declared to be issued for an essential public and governmental270
321	287		purpose and the said bonds, their transfer, and the income thereof shall be exempt from all271
322	288		taxation within the state.272
323	289		SECTION 12.273
324	290		Sale, price.274
325	291		The authority may sell such bonds in such manner and for such price as it may determine to275
326	292		be in the best interest of the authority.276
327	293		SECTION 13.277
328	294		Proceeds of bonds.278
329	295		The proceeds of such bonds shall be used solely for the payment of the cost of the project or279
330	296		projects, and unless otherwise provided in the resolution authorizing the issuance of the280
331	297		bonds or in the trust indenture, additional bonds may in like manner be issued to provide the281
332	298		amount of any deficit for the cost of the project or projects which, unless otherwise provided282
333	299		in the resolution authorizing the issuance of the bonds or in the trust indenture, shall be283
334	300		deemed to be of the same issue and shall be entitled to payment from the same fund without284
335	301		preference or priority of the bonds first issued for the same purposes. If the proceeds of the285
336	302		bonds of any issue shall exceed the amount required for the purpose for which such bonds286
337	303		are issued, the surplus shall be paid into a sinking fund or used for additional construction287
338		-	H. B. 1504
339		-	- 12 - 24 HB 1504/AP
340		-	as may be provided in the resolution authorizing the issuance of the bonds or in the trust
341		-	288
	304	+	- 12 - 24 LC 44 2849S
	305	+	as may be provided in the resolution authorizing the issuance of the bonds or in the trust288
342	306		indenture.289
343	307		SECTION 14.290
344	308		Interim receipts and certificates or temporary bonds.291
345	309		Prior to the preparation of definitive bonds, the authority may, under like restrictions, issue292
346	310		interim receipts, interim certificates, or temporary bonds, with or without coupons293
347	311		exchangeable for definitive bonds upon the issuance of the latter.294
348	312		SECTION 15.295
349	313		Replacement of lost or mutilated bonds.296
350	314		The authority may also provide for the replacement of any bond which shall become297
351	315		mutilated or be destroyed or lost.298
352	316		SECTION 16.299
353	317		Conditions precedent to issuance, object of issuance.300
354	318		Such revenue bonds may be issued without any other proceedings or the happening of any301
355	319		other conditions or things than those proceedings, conditions, and things which are specified302
356	320		or required by this Act. In the discretion of the authority, revenue bonds of a single issue303
357	321		may be issued for the purpose of any particular project. Any resolution providing for the304
358	322		issuance of revenue bonds under the provisions of this Act shall become effective305
359	323		immediately upon its passage and need not be published or posted, and any such resolution306
360	324		may be passed at any regular or special or adjourned meeting of the authority by a majority307
361	325		of the quorum as in this Act provided.308
362		-	H. B. 1504
363		-	- 13 - 24 HB 1504/AP
364		-	SECTION 17.
365		-	309
	326	+	- 13 - 24 LC 44 2849S
	327	+	SECTION 17.309
366	328		Credit not pledged.310
367	329		Revenue bonds issued under the provisions of this Act shall not be deemed to constitute a311
368	330		debt of either the City of Griffin or Spalding County, or any municipality therein, but such312
369	331		bonds shall be payable solely from the fund hereinafter provided for and the issuance of such313
370	332		revenue bonds shall not directly, indirectly, or contingently obligate the said city or county,314
371	333		or any municipality therein, to levy or to pledge any form of taxation whatever therefor or315
372	334		to make any appropriation for such payment, and all such bonds shall contain recitals on their316
373	335		face covering substantially the foregoing provisions of this section.317
374	336		SECTION 18.318
375	337		Trust indenture as security.319
376	338		In the discretion of the authority, any issue of such revenue bonds may be secured by a trust320
377	339		indenture by and between the authority and a corporate trustee, which may be any trust321
378	340		company or bank having the powers of a trust company within or outside of the state. Such322
379	341		trust indenture may pledge or assign fees, tolls, revenues, and earnings to be received by the323
380	342		authority, including the proceeds derived from the sale from time to time of any surplus324
381	343		property of the authority, both real and personal. Either the resolution providing for the325
382	344		issuance of revenue bonds or such trust indenture may contain such provisions for protecting326
383	345		and enforcing the rights and remedies of the bondholders as may be reasonable and proper327
384	346		and not in violation of law, including covenants setting forth the duties of the authority in328
385	347		relation to the acquisition of property, the construction of the project, the maintenance,329
386	348		operation, repair, and insuring of the property, and the custody, safeguarding, and application330
387	349		of all moneys, including the proceeds derived from the sale or lease of property of the331
388	350		authority, both real and personal, and may also provide that any project shall be constructed332
389		-	H. B. 1504
390		-	- 14 - 24 HB 1504/AP
391		-	and paid for under the supervision and approval of consulting engineers or architects
392		-	333
	351	+	- 14 - 24 LC 44 2849S
	352	+	and paid for under the supervision and approval of consulting engineers or architects333
393	353		employed or designated by the authority, and satisfactory to the original purchasers of the334
394	354		bonds issued therefor and may also require that the security given by contractors and by any335
395	355		depository of the proceeds of the bonds or revenues or other moneys be satisfactory to such336
396	356		purchasers, and may also contain provisions concerning the conditions, if any, upon which337
397	357		additional revenue bonds may be issued. It shall be lawful for any bank or trust company338
398	358		incorporated under the laws of this state to act as such depository and to furnish such339
399	359		indemnifying bonds or pledge such securities as may be required by the authority. Such340
400	360		indenture may set forth the rights and remedies of the bondholders and of the trustee and may341
401	361		restrict the individual right of action of bondholders as is customary in trust indentures342
402	362		securing bonds and debentures of corporations. In addition to the foregoing, such trust343
403	363		indenture may contain such other provisions as the authority may deem reasonable and344
404	364		proper for the security of the bondholders. All expenses incurred in carrying out such trust345
405	365		indenture may be treated as a part of the cost of maintenance, operation, and repair of the346
406	366		project affected by such indenture.347
407	367		SECTION 19.348
408	368		To whom proceeds of bonds shall be paid.349
409	369		The authority shall, in the resolution providing for the issuance of revenue bonds or in the350
410	370		trust indenture, provide for the payment of the proceeds of the sale of the bonds to any officer351
411	371		or person who, or any agency, bank, or trust company which, shall act as trustee of such352
412	372		funds to hold and apply the same to the purposes thereof, subject to such regulations as this353
413	373		Act and such resolutions or trust indentures may provide.354
414		-	H. B. 1504
415		-	- 15 - 24 HB 1504/AP
416		-	SECTION 20.
417		-	355
	374	+	- 15 - 24 LC 44 2849S
	375	+	SECTION 20.355
418	376		Sinking fund.356
419	377		The revenues, fees, tolls, and earnings derived from any particular project or projects,357
420	378		regardless of whether or not such fees, earnings, and revenues were produced by a particular358
421	379		project for which bonds have been issued and any moneys derived from the sale or lease of359
422	380		any properties, both real and personal, of the authority, unless otherwise pledged and360
423	381		allocated, may be pledged and allocated by the authority to the payment of the principal and361
424	382		interest on such revenue bonds of the authority as the resolution authorizing the issuance of362
425	383		the bonds or the trust instrument may provide, and such funds so pledged from whatever363
426	384		source received, which said pledge may include funds received from one or more or all364
427	385		sources, shall be set aside at regular intervals as may be provided in the resolution or trust365
428	386		indenture into a sinking fund, which said sinking fund shall be pledged to, and charged with,366
429	387		the payment of:367
430	388		(1) The interest upon such revenue bonds as such interest shall fall due;368
431	389		(2) The principal of the bonds as the same shall fall due;369
432	390		(3) The necessary charges of a paying agent or agents for paying interest and principal;370
433	391		(4) Any premium upon bonds retired by call or purchase as hereinabove provided; and371
434	392		(5) Any other reasonable or necessary costs or expenses relating to such bond issue.372
435	393		The use and disposition of such sinking fund shall be subject to such regulations as may be373
436	394		provided in the resolution authorizing the issuance of the revenue bonds or in the trust374
437	395		indenture, however, except as may otherwise be provided in such resolution or trust375
438	396		indenture, such sinking fund shall be a fund for the benefit of all revenue bonds without376
439	397		distinction or priority of one over another. Subject to the provisions of the resolution377
440	398		authorizing the issuance of the bonds or in the trust indenture, surplus moneys in the sinking378
441	399		fund may be applied to the purchase or redemption of bonds and any such bonds so379
442	400		purchased or redeemed shall forthwith be canceled and shall not again be issued.380
443		-	H. B. 1504
444		-	- 16 - 24 HB 1504/AP
445		-	SECTION 21.
446		-	381
	401	+	- 16 - 24 LC 44 2849S
	402	+	SECTION 21.381
447	403		Remedies of bondholders.382
448	404		Any holder of revenue bonds issued under the provisions of this Act or any of the coupons383
449	405		appertaining thereto, and the trustee under the trust indenture, if any, except to the extent the384
450	406		rights herein given may be restricted by resolution passed before the issuance of the bonds385
451	407		or by the trust indenture, may, either at law or in equity, by suit, action, mandamus, or other386
452	408		proceedings protect and enforce any and all rights under the laws of the State of Georgia or387
453	409		granted hereunder or under such resolution or trust indenture, and may enforce and compel388
454	410		performance of all duties required by this Act or by such resolution or trust indenture, to be389
455	411		performed by the authority, or any officer thereof, including the fixing, charging, and390
456	412		collecting of revenues, fees, tolls, and other charges for the use of the facilities and services391
457	413		furnished.392
458	414		SECTION 22.393
459	415		Refunding bonds.394
460	416		The authority is authorized to provide by resolution for the issuance of revenue refunding395
461	417		bonds of the authority for the purpose of refunding any revenue bonds issued under the396
462	418		provisions of this Act and then outstanding, together with accrued interest thereon. The397
463	419		issuance of such revenue refunding bonds, the maturities, and all other details thereof, the398
464	420		rights of the holders thereof, and the duties of the authority in respect to the same shall be399
465	421		governed by the foregoing provisions of this Act insofar as the same may be applicable.400
466		-	H. B. 1504
467		-	- 17 - 24 HB 1504/AP
468		-	SECTION 23.
469		-	401
	422	+	- 17 - 24 LC 44 2849S
	423	+	SECTION 23.401
470	424		Validation.402
471	425		Bonds of the authority shall be confirmed and validated in accordance with said "Revenue403
472	426		Bond Law." The petition for validation shall also make party defendant to such action any404
473	427		municipality, county, authority, subdivision, or instrumentality of the State of Georgia or the405
474	428		United States government or any department or agency of the United States government, if406
475	429		subject to be sued, which has contracted with the authority for the services and facilities of407
476	430		the project for which bonds are to be issued and sought to be validated and such408
477	431		municipality, county, authority, subdivision, or instrumentality shall be required to show409
478	432		cause, if any, why such contract or contracts and the terms and conditions thereof should not410
479	433		be inquired into by the court and the validity of the terms thereof be determined and the411
480	434		contract or contracts adjudicated as security for the payment of any such bonds of the412
481	435		authority. The bonds when validated and the judgment of validation shall be final and413
482	436		conclusive with respect to such bonds against the authority issuing the same, and any414
483	437		municipality, county, authority, subdivision, or instrumentality of this state or the United415
484	438		States government if a party to the validation proceedings, contracting with the said416
485	439		Griffin-Spalding County Airport Authority.417
486	440		SECTION 24.418
487	441		Venue and jurisdiction.419
488	442		Any action to protect or enforce any rights under the provisions of this Act or any suit or420
489	443		action against such authority shall be brought in the Superior Court of Spalding County,421
490	444		Georgia, and any action pertaining to validation of any bonds issued under the provisions of422
491	445		this Act shall likewise be brought in said court.423
492		-	H. B. 1504
493		-	- 18 - 24 HB 1504/AP
494		-	SECTION 25.
495		-	424
	446	+	- 18 - 24 LC 44 2849S
	447	+	SECTION 25.424
496	448		Interest of bondholders protected.425
497	449		While any of the bonds issued by the authority remain outstanding, the powers, duties, or426
498	450		existence of said authority or of its officers, employees, or agents shall not be diminished or427
499	451		impaired in any manner that will affect adversely the interest and rights of the holders of such428
500	452		bonds, and no other entity, department, agency, or authority shall be created which will429
501	453		compete with the authority to such an extent as to affect adversely the interest and rights of430
502	454		the holders of such bonds and, upon the issuance of bonds hereunder, the provisions hereof431
503	455		shall constitute a contract with the holders of such bonds.432
504	456		SECTION 26.433
505	457		Moneys received considered trust funds.434
506	458		All moneys received pursuant to the authority of this Act, whether as proceeds from the sale435
507	459		of revenue bonds, as grants or other contributions, or as revenues, income, fees, and earnings436
508	460		shall be deemed to be trust funds to be held and applied solely as provided in this Act.437
509	461		SECTION 27.438
510	462		Purpose of the authority.439
511	463		Without limiting the generality of any provisions of this Act, the general purpose of the440
512	464		authority is declared to be that of acquiring, constructing, equipping, maintaining, improving,441
513	465		and operating new regional public use, general aviation airports and landing fields for the use442
514	466		of aircraft, including any related buildings and the usual and convenient facilities443
515	467		appertaining to such undertakings and extensions and improvements of such facilities,444
516	468		acquiring the necessary property therefor, both real and personal, and to lease or, subject to445
517		-	H. B. 1504
518		-	- 19 - 24 HB 1504/AP
519		-	review and approval by the Federal Aviation Administration, sell any or all of such facilities
520		-	446
	469	+	- 19 - 24 LC 44 2849S
	470	+	review and approval by the Federal Aviation Administration, sell any or all of such facilities446
521	471		including real property, and to do any and all things deemed by the authority necessary,447
522	472		convenient, or desirable for and incident to the efficient and proper development and448
523	473		operation of such types of undertakings.449
524	474		SECTION 28.450
525	475		Rates, charges, and revenues; use.451
526	476		The authority is authorized to prescribe and fix and collect rates, fees, tolls, and charges, and452
527	477		to revise, from time to time, and collect such rates, fees, tolls, and charges for the services,453
528	478		facilities, or commodities furnished, including leases, concessions, or subleases of its lands454
529	479		or facilities in accordance with assurances set forth in airport improvement and assistance455
530	480		agreements entered into between the authority and the Federal Aviation Administration, the456
531	481		Georgia Department of Transportation, or the United States Department of Transportation.457
532	482		This authority assumes no liability for the operation and maintenance of the general aviation458
533	483		airport currently located in Spalding County, Georgia designated as 6 Alpha 2. This459
534	484		authority shall maintain a fee and rental structure for the use of its land and facilities460
535	485		sufficient to make any airport or landing field operated by the authority as self-sustaining as461
536	486		possible under the circumstances existing at the particular airport, consistent with the462
537	487		obligation to operate such airports or landing fields for public use, on reasonable terms and463
538	488		without unjust discrimination, to all types, kinds, and classes of aeronautical activities,464
539	489		including commercial aeronautical activities offering services to the public at such airport465
540	490		or landing field.466
541		-	H. B. 1504
542		-	- 20 - 24 HB 1504/AP
543		-	SECTION 29.
544		-	467
	491	+	- 20 - 24 LC 44 2849S
	492	+	SECTION 29.467
545	493		Rules and regulations for operation of projects.468
546	494		It shall be the duty of the authority to prescribe rules and regulations for the operation of the469
547	495		project or projects constructed under the provisions of this Act, including the basis on which470
548	496		airports and landing fields for the use of aircraft shall be furnished. Before undertaking471
549	497		performance of any airport or landing field operations, the authority shall procure and472
550	498		maintain in force at all times sufficient liability insurance covering aviation related risks for473
551	499		their operations. At all times relevant hereto, the authority shall operate its airports and474
552	500		landing fields in accordance with grant assurances entered into with the Federal Aviation475
553	501		Administration, the Georgia Department of Transportation, or the United States Department476
554	502		of Transportation.477
555	503		SECTION 30.478
556	504		Powers declared supplemental and additional.479
557	505		The foregoing sections of this Act shall be deemed to provide an additional and alternative480
558	506		method for the doing of the things authorized thereby and shall be regarded as supplemental481
559	507		and additional to powers conferred by other laws and shall not be regarded as in derogation482
560	508		of any powers now existing.483
561	509		SECTION 31.484
562	510		Liberal construction of Act.485
563	511		This Act being for the purpose of promoting the health, morals, and general welfare of the486
564	512		citizens of the United States, of the State of Georgia, of Spalding, Butts, Lamar, Pike, and487
565		-	H. B. 1504
566		-	- 21 - 24 HB 1504/AP
567		-	Monroe Counties, and of the City of Griffin shall be liberally construed to effect the purposes
568		-	488
	513	+	- 21 - 24 LC 44 2849S
	514	+	Monroe Counties, and of the City of Griffin shall be liberally construed to effect the purposes488
569	515		hereof.489
570	516		SECTION 32.490
571	517		This Act shall become effective upon its approval by the Governor or upon its becoming law491
572	518		without such approval.492
573	519		SECTION 33.493
574	520		All laws and parts of laws in conflict with this Act are repealed.494
575		-	H. B. 1504
576	521		- 22 -