24 HB 206/AP
House Bill 206 (AS PASSED HOUSE AND SENATE)
By: Representatives Sainz of the 180
th
, LaHood of the 175
th
, Stephens of the 164
th
, Taylor
of the 173
rd
, Williams of the 148
th
, and others
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 42 and Chapter 62 of Title 36 of the Official Code of Georgia Annotated,1
relating to downtown development authorities and development authorities, respectively, so2
as to authorize such authorities to provide certain financing for qualifying improvements,3
including energy efficiency, water conservation, renewable energy, and resiliency4
improvements; to provide for powers; to provide for financial obligations; to provide a short5
title; to provide for legislative findings and intent; to provide for cities and counties to6
cooperate with development authorities in financing qualifying improvements by imposing7
special assessments on qualifying commercial properties; to provide for the collection and8
lien status of such assessments; to provide for definitions; to provide for related matters; to9
provide for an effective date; to repeal conflicting laws; and for other purposes.10
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:11
SECTION 1.12
Chapter 42 of Title 36 of the Official Code of Georgia Annotated, relating to downtown13
development authorities, is amended in subsection (a) of Code Section 36-42-8, relating to14
powers of authorities generally, by deleting "and" at the end of paragraph (23), by replacing15
the period at the end of paragraph (24) with "; and", and by adding a new paragraph to read16
as follows:17
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"(25) To exercise any power granted to development authorities in Code Sections18
36-62-2.1, 36-62-6.2, 36-62-8.1, and 36-62-8.2."19
SECTION 2.20
Chapter 62 of Title 36 of the Official Code of Georgia Annotated, relating to development21
authorities, is amended by redesignating Code Sections 36-62-1 through 36-62-14 as22
Article 1.23
SECTION 3.24
Said chapter is further amended by adding a new Code section to read as follows:25
"36-62-2.1.26
As used in this chapter, the term:27
(1) 'Assessment' means a special assessment imposed by a participating local28
government pursuant to Article 2 of this chapter.29
(2) 'Assessment agreement' means an agreement between an authority and a qualifying30
property owner in which, among other things, the authority agrees to pay the costs of31
qualifying improvements and the qualifying property owner voluntarily requests32
assessments to be imposed by the participating local government on the qualifying33
property.34
(3) 'Assessment financing' means the financing or refinancing of qualifying35
improvements.36
(4) 'Capital provider' means a private entity or its designee, successor, or assign that37
purchases an obligation of an authority pursuant to this article.38
(5) 'Cost of the qualifying improvements' or 'cost of any qualifying improvement' means39
and includes:40
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(A) All costs of acquisition (by purchase or otherwise), construction, assembly,41
installation, modification, renovation, or rehabilitation incurred in connection with any42
qualifying improvement or any part of any qualifying improvement;43
(B) All costs of real property, fixtures, or materials used in or in connection with or44
necessary for any qualifying improvement or for any facilities related thereto,45
including, but not limited to, the cost of all easements, rights, improvements, water46
rights, connections for utility services, fees, franchises, permits, approvals, licenses, and47
certificates; the cost of securing any such franchises, permits, approvals, licenses, or48
certificates; and the cost of preparation of any application therefor and the cost of all49
labor and materials used in or in connection with or necessary for any qualifying50
improvement;51
(C) All financing charges and loan fees and all interest on revenue bonds, notes, or52
other obligations of an authority that accrues or is paid prior to and during the period53
of construction of a qualifying improvement and during such additional period as the54
authority may reasonably determine to be necessary to place such qualifying55
improvement in operation;56
(D) All costs of engineering, architectural, and legal services and all expenses incurred57
by engineers, architects, and attorneys in connection with any qualifying improvement;58
(E) All expenses for inspection and any third-party review or verification fees;59
(F) All fees of fiscal agents, paying agents, and trustees for bondholders under any trust60
agreement, indenture of trust, or similar instrument or agreement; all expenses incurred61
by any such fiscal agents, paying agents, and trustees; and all other costs and expenses62
incurred relative to the issuance of any revenue bonds, notes, or other obligations for63
any qualifying improvement, including capital provider's fees;64
(G) All fees of any type charged by an authority in connection with any qualifying65
improvement;66
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(H) All expenses necessary or incidental to determining the feasibility or practicability67
of any qualifying improvement;68
(I) All costs of plans and specifications for any qualifying improvement;69
(J) Repayment of any loans made for the advance payment of any part of any of the70
foregoing costs, including interest thereon and any other expenses of such loans;71
(K) Administrative expenses of the authority and such other expenses as may be72
necessary or incidental to any qualifying improvement or the financing thereof or the73
placing of any qualifying improvement in operation; and74
(L) The establishment of a fund or funds for the creation of a debt service reserve, a75
renewal and replacement reserve, or such other funds or reserves, including for ad76
valorem taxes and insurance, as the authority may approve with respect to the financing77
and operation of any qualifying improvement and as may be authorized by any bond78
resolution, trust agreement, indenture of trust, or similar instrument or agreement79
pursuant to the provisions of which the issuance of any revenue bonds, notes, or other80
obligations of the authority may be authorized.81
Any cost, obligation, or expense incurred for any of the foregoing purposes shall be a part82
of such defined term and may be paid or reimbursed as such out of proceeds of revenue83
bonds, notes, or other obligations issued by the authority.84
(6) 'Financing application' means an application submitted to an authority or program85
administrator to demonstrate that the proposed improvements qualify for financing86
pursuant to a program.87
(7) 'Intergovernmental assessment agreement' means a contract entered into pursuant to88
Article IX, Section III, Paragraph I of the Constitution of Georgia between a county or89
a municipal corporation, as party of the first part, and an authority, as party of the second90
part, pursuant to which the county or municipal corporation agrees to make payments to91
the authority, the sole source of which shall be assessments and no other public moneys,92
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to furnish financial assistance to aid in the planning, undertaking, or carrying out of a93
qualifying improvement.94
(8) 'Participating local government' means a municipal corporation or a county that95
enters into an intergovernmental assessment agreement with an authority.96
(9) 'Program' means a commercial property assessed conservation, energy, and resiliency97
program established by an authority.98
(10) 'Program administrator' means any official or agency designated by an authority to99
administer a program or a private and independent third party designated by an authority100
to administer a program, provided that the administration procedures used conform to the101
requirements of this article.102
(11) 'Program guidebook' means a comprehensive document that establishes appropriate103
guidelines, specifications, approval criteria, and other standard forms consistent with104
administering a program and not detailed in this article, including forms for an105
assessment agreement, notice of assessment, and financing application.106
(12) 'Qualifying improvement' means a permanently affixed energy efficiency107
improvement, renewable energy improvement, water conservation improvement, or108
resiliency improvement installed on qualifying property as part of the construction or109
renovation of the qualifying property.110
(13) 'Qualifying property' means privately owned or leased commercial, industrial, or111
agricultural real property or multifamily residential real property with five or more112
dwelling units.113
(14) 'Resiliency improvement' means any improvement to qualifying property intended114
to increase resilience and improve durability of such property, including, but not limited115
to, seismic retrofits, flood mitigation, fire suppression, wind resistance, energy storage,116
microgrids, and backup power generation."117
SECTION 4.118
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Said chapter is further amended by adding a new Code section to read as follows:119
"36-62-6.2.120
(a) In addition to the powers otherwise granted in this article, each authority shall have the121
following powers:122
(1) To make and execute intergovernmental assessment agreements, assessment123
agreements, and agreements for grants or loans to finance or refinance qualifying124
improvements;125
(2) To finance by loan, grant, or otherwise, including through assessment agreements,126
and refinance qualifying improvements and to pay the cost of any qualifying127
improvement from the proceeds of revenue bonds, notes, or other obligations of the128
authority or any other funds of the authority, or from any contributions or loans by129
persons, corporations, partnerships, whether limited or general, or other entities, all of130
which the authority is authorized to receive, accept, and use;131
(3) To issue revenue bonds, notes, or other obligations of the authority and use the132
proceeds thereof for the purpose of paying, or loaning or granting the proceeds thereof133
to pay, all or any part of the cost of any qualifying improvement and otherwise to further134
or carry out the public purpose of the authority and to pay all costs of the authority135
incidental to, or necessary and appropriate to, furthering or carrying out such purpose;136
(4) To extend credit or make loans or grants to any person, corporation, partnership,137
whether limited or general, or other entity for the costs of any qualifying improvement138
or any part of the costs of any qualifying improvement, which credit, loans, or grants may139
be evidenced or secured by loan agreements, grant agreements, assessment agreements,140
notes, mortgages, deeds to secure debt, trust deeds, security agreements, assignments, or141
such other instruments, or by assessments, revenues, fees, or charges, upon such terms142
and conditions as the authority shall determine to be reasonable in connection with such143
extension of credit, loans, or grants, including provision for the establishment and144
maintenance of reserve funds; and, in the exercise of powers granted by this article in145
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connection with any qualifying improvement, the authority shall have the right and power146
to require the inclusion in any such loan agreement, grant agreement, assessment147
agreement, note, mortgage, deed to secure debt, trust deed, security agreement,148
assignment, or other instrument of such provisions or requirements for guaranty of any149
obligations, insurance, construction, use, operation, maintenance, and financing of a150
qualifying improvement, and such other terms and conditions as the authority may deem151
necessary or desirable;152
(5) As security for repayment of any revenue bonds, notes, or other obligations of the153
authority, to pledge, convey, assign, hypothecate, or otherwise encumber any property154
of the authority, including, but not limited to, contract rights under intergovernmental155
assessment agreements and revenues or other funds, and to execute any trust indenture;156
trust agreement; agreement for the sale of the authority's revenue bonds, notes, or other157
obligations; loan agreement; security agreement; assignment; or other agreement or158
instrument as may be necessary or desirable, in the judgment of the authority, to secure159
any such revenue bonds, notes, or the obligations, which instruments or agreements may160
provide for foreclosure or forced sale of any property of the authority upon default in any161
obligation of the authority, either in payment of principal, premium, if any, or interest or162
in the performance of any term or condition contained in any such agreement or163
instrument. The State of Georgia, on behalf of itself and each county, municipal164
corporation, political subdivision, or taxing district therein, waives any right it or such165
county, municipal corporation, political subdivision, or taxing district may have to166
prevent the forced sale or foreclosure of any property of the authority upon such default167
and agrees that any agreement or instrument encumbering such property may be168
foreclosed in accordance with law and the terms thereof;169
(6) To receive and use the proceeds of any assessment imposed by a municipal170
corporation or a county to pay the costs of any qualifying improvement or for any other171
purpose for which the authority may use its own funds pursuant to this article, including172
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the payment of principal or premium, if any, and interest on revenue bonds, notes, or173
other obligations of the authority; and174
(7) To establish and administer programs and to appoint, select, and employ program175
administrators and to fix their compensation and pay their expenses.176
(b) When an authority exercises its grant powers given by subsection (a) of this Code177
section, in determining compliance with Article III, Section VI, Paragraph VI(a) of the178
Constitution of Georgia, the authority may take into consideration the assessments to be179
paid by the grant recipient, as well as the substantiality of the public purpose to be achieved180
by the grant."181
SECTION 5.182
Said chapter is further amended by adding new Code sections to read as follows:183
"36-62-8.1.184
(a) Revenue bonds, notes, or other obligations issued by an authority to finance or185
refinance the cost of any qualifying improvement shall be paid solely from the property,186
including, but not limited to, contract rights, revenues, or other funds, pledged, conveyed,187
assigned, hypothecated, or otherwise encumbered to secure or to pay such bonds, notes, or188
other obligations.189
(b) All revenue bonds, notes, and other obligations shall be authorized by resolution of the190
authority, adopted by a majority vote of the directors of the authority at a regular or special191
meeting.192
(c) Revenue bonds, notes, or other obligations issued to finance or refinance the cost of193
any qualifying improvement shall bear such date or dates; shall mature at such time or194
times, not more than 40 years from their respective dates; shall bear interest at such rate or195
rates, which may be fixed or may fluctuate or otherwise change from time to time; shall be196
subject to redemption on such terms; and shall contain such other terms, provisions,197
covenants, assignments, and conditions as the resolution authorizing the issuance of such198
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bonds, notes, or other obligations may permit or provide. The terms, provisions, covenants,199
assignments, and conditions contained in or provided or permitted by any resolution of the200
authority authorizing the issuance of such revenue bonds, notes, or other obligations shall201
bind the directors of the authority then in office and their successors.202
(d) The authority shall have the power from time to time and whenever it deems it203
expedient to refund any revenue bonds, notes, or other obligations issued to finance or204
refinance the cost of any qualifying improvement by the issuance of new revenue bonds,205
notes, or other obligations, whether or not the revenue bonds, notes, or other obligations206
to be refunded have matured, and may issue revenue bonds, notes, or other obligations207
partly to refund revenue bonds, notes, or other obligations then outstanding and partly for208
any other purpose permitted under this article. The refunding revenue bonds, notes, or209
other obligations may be exchanged for the revenue bonds, notes, or other obligations to210
be refunded, with such cash adjustments as may be agreed upon, or may be sold and the211
proceeds applied to the purchase or redemption of the revenue bonds, notes, or other212
obligations to be refunded.213
(e) There shall be no limitation upon the amount of revenue bonds, notes, or other214
obligations that an authority may issue to finance or refinance the cost of any qualifying215
improvement. Any limitations with respect to interest rates or any maximum interest rate216
or rates found in Article 3 of Chapter 82 of this title, the 'Revenue Bond Law,' the usury217
laws of this state, or any other laws of this state shall not apply to revenue bonds, notes, or218
other obligations of an authority issued to finance or refinance the cost of any qualifying219
improvement.220
(f) All revenue bonds issued by an authority under this article to finance or refinance the221
cost of any qualifying improvement shall be issued and validated under and in accordance222
with Article 3 of Chapter 82 of this title, the 'Revenue Bond Law,' except as provided in223
this article, provided that notes and other obligations of an authority may, but shall not be224
required to, be so validated.225
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(g) The terms 'cost of the qualifying improvement' and 'cost of any qualifying226
improvement' shall have the meaning prescribed in this article whenever those terms are227
referred to in bond resolutions of an authority; in bonds, notes, or other obligations of an228
authority; or in notices or proceedings to validate such bonds, notes, or other obligations229
of an authority.230
36-62-8.2.231
(a) A program shall establish a financing application and review process to evaluate such232
applications. The program shall prescribe the form and manner of the financing233
application. At a minimum:234
(1) An applicant shall demonstrate that the qualifying improvement provides a benefit235
to the public in the form of energy or water resource conservation or improved resiliency;236
(2) For an existing building:237
(A) When energy or water efficiency improvements are proposed, an applicant shall238
provide:239
(i) An energy or water efficiency analysis by a licensed engineering firm, engineer,240
or other qualified professional listed in the program guidebook; and241
(ii) A statement by the author of the analysis that the proposed qualifying242
improvements will result in more efficient use or conservation of energy or water, the243
reduction of greenhouse gas emissions, or the addition of renewable sources of energy244
or water; or245
(B) When resiliency improvements are proposed, an applicant shall provide246
certification by a licensed engineering firm, engineer, or other qualified professional247
listed in the program guidebook stating that the proposed qualifying improvements will248
result in improved resilience;249
(3) For new construction, an applicant shall provide certification by a licensed250
engineering firm, engineer, or other qualified professional listed in the program251
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guidebook stating that the proposed qualifying improvements will enable the qualifying252
property to exceed the current building code requirements for:253
(A) Energy efficiency;254
(B) Water efficiency;255
(C) Renewable energy; or256
(D) Resilience;257
(4) An applicant shall include a certification that the person requesting the proposed258
qualifying improvements is the owner of the qualifying property and that there are no259
delinquent taxes or assessments on the qualifying property; and260
(5) An applicant shall demonstrate that the proposed assessment financing meets the261
following guidelines and any other guidelines adopted by the authority, which may be in262
addition to or more restrictive than the following guidelines:263
(A) Unless a higher percentage is agreed to by the holder of a lien, mortgage, or264
security deed encumbering the qualifying property in the written consent required by265
subsection (b) of this Code section, an applicant must demonstrate that the amount of266
the proposed assessment financing and all other debt secured by the qualifying property267
upon execution of the assessment agreement will not exceed 80 percent of the fair268
market value of the qualifying property as determined by a qualified appraiser, which269
appraisal may take into account the expected increase in fair market value of the270
qualifying property resulting from the proposed qualifying improvements, as completed271
or as stabilized;272
(B) An applicant must demonstrate that the amount of the proposed assessment273
financing will not exceed 25 percent of the fair market value of the qualifying property274
as determined by a qualified appraiser, which appraisal may take into account the275
expected increase in fair market value of the qualifying property resulting from the276
proposed qualifying improvements, as completed or as stabilized; and277
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(C) An applicant must demonstrate that the period or term of the assessment financing278
will not exceed the weighted average useful life expected for the proposed qualifying279
improvements. The applicant shall include a statement from a qualified professional280
indicating the weighted average useful life expected for the proposed qualifying281
improvements.282
(b) For approved qualifying improvements, an authority may enter into an assessment283
agreement with the owner of the qualifying property to pay the cost of qualifying284
improvements. Prior to entering into an assessment agreement, an applicant shall provide285
written consent from any holder of a lien, mortgage, or security deed encumbering the286
qualifying property. Such written consent shall be signed in the sole and absolute287
discretion of the holder of a prior lien, mortgage, or security deed encumbering the288
qualifying property and, at a minimum, shall state that the holder of such prior lien,289
mortgage, or security deed has reviewed the final terms of the financing and the assessment290
agreement; that the qualifying property may participate in the program; and that the291
assessment lien shall have the same priority status as a lien for ad valorem taxes of the292
participating local government.293
(c) Each assessment agreement shall include:294
(1) A description of the qualifying improvements;295
(2) A statement describing the procedures for billing and collection of assessments to be296
imposed by the participating local government pursuant to an intergovernmental297
assessment agreement, which the owner of the qualifying property shall voluntarily298
request to be imposed and shall agree to pay either directly or through an escrow account299
that may be established or increased by a prior lien holder on the qualifying property;300
(3) The total amount of the assessment;301
(4) A schedule of assessment installments requested to be imposed by the participating302
local government;303
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(5) Any administrative fees to be paid to the authority or to the participating local304
government pursuant to the related intergovernmental assessment agreement;305
(6) The number of years the assessment shall be imposed on the qualifying property; and306
(7) The conditions under which the owner of the qualifying property may prepay and307
permanently satisfy the unpaid portion of the assessment and remove the assessment lien308
from the qualifying property, including a description of the terms of any prepayment309
penalty.310
(d) An assessment agreement may authorize the owner of the qualifying property to311
contract directly, including through lease, power purchase agreement, or other service312
contract, for installing or modifying a qualifying improvement.313
(e) Upon execution of an assessment agreement by an owner of the qualifying property314
and an authority, the authority shall cause the participating local government to execute and315
record a notice of assessment in the land record of the jurisdiction in which the qualifying316
property is located, in accordance with Article 2 of this chapter.317
(f) No authority described in this article shall grant any capital provider the exclusive right318
to provide financing or refinancing on a program-wide basis. It is the intent of this319
subsection to enable owners of qualifying properties to recommend to authorities the320
capital providers to finance or refinance the qualifying improvements owned or to be321
owned by such qualifying property owners."322
SECTION 6.323
Said chapter is further amended by adding a new article to read as follows:324
"ARTICLE 2325
36-62-15.326
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This article shall be known and may be cited as the 'Commercial Property Assessed327
Conservation, Energy, and Resiliency Cooperation Law.'328
36-62-16.329
The General Assembly finds that it is in the public interest and vital to the public welfare330
of the people of the State of Georgia, and it is declared to be the intent of this article, to331
authorize municipal corporations and counties to enact ordinances or resolutions to332
establish commercial property assessed conservation, energy, and resiliency programs and333
to enter into agreements with development authorities to carry out such programs, all for334
the purpose of developing trade, commerce, industry, and employment opportunities. It335
is found and declared that the assistance provided in this article for the purposes set forth336
in Article 1 of this chapter constitutes a public use and purpose and an essential337
governmental function for which public moneys consisting solely of assessments may be338
spent and that the provisions enacted in this article are necessary in the public interest.339
36-62-17.340
(a) For the purpose of aiding and cooperating in the planning, undertaking, constructing,341
or carrying out of qualifying improvements located within the area in which it is authorized342
to act, any municipal corporation or county, upon such terms, with or without343
consideration, as it may determine, may:344
(1) Enter into intergovernmental assessment agreements with an authority respecting345
action to be taken by such municipal corporation or county pursuant to any of the powers346
granted by this article, including the furnishing of funds or other assistance in connection347
with qualifying improvements, provided that the obligations of any such municipal348
corporation or county under any such intergovernmental assessment agreement shall be349
limited obligations payable solely from assessments and shall not be paid from any other350
public moneys;351
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(2) Do any and all things necessary or convenient to aid or cooperate in the planning,352
undertaking, constructing, and carrying out of qualifying improvements; and353
(3) Grant or contribute assessments to an authority or agree to take such action.354
(b) Any participating local government shall have the power to impose, bill, and collect355
assessments and to pledge and assign assessments to an authority to secure its obligations356
under an intergovernmental assessment agreement.357
(c) Pursuant to Code Section 36-62-8.2, an authority may enter into an assessment358
agreement with an owner of qualifying property for qualifying improvements, under which359
such owner voluntarily agrees to the imposition of assessments under this article. After an360
assessment agreement is entered into, and upon notice from the authority, a participating361
local government shall have the power to execute and record a notice of assessment on the362
subject property in the real property records of the relevant county. Such notice of363
assessment shall contain:364
(1) The principal amount of the assessment;365
(2) The legal description of the property;366
(3) The name of each property owner;367
(4) A copy of the assessment agreement, including a schedule of assessments to be368
imposed by the participating local government; and369
(5) A reference to subsection (d) of this Code section authorizing the creation of an370
assessment lien to secure an assessment imposed under this article.371
(d) An assessment imposed by a participating local government under this article:372
(1) Is a lien against the property on which the assessment is imposed, from the date on373
which the notice of assessment is recorded until the assessment, interest, and penalties374
are paid in full; and375
(2) Has the same priority status as a lien for ad valorem taxes levied by the participating376
local government.377
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(e) The assessment lien created under this article runs with the land and that portion of the378
assessment that is not yet due may not be accelerated or eliminated by foreclosure of a379
property tax lien or other lien.380
(f) Assessments imposed under this article shall be billed and collected in installments in381
the same manner, by the same tax collector, and at the same times as ad valorem taxes382
levied by the participating local government are billed and collected. The tax collector may383
include any assessment installment as a separate line item on an ad valorem tax bill or may384
send a separate bill for any assessment installment. The participating local government385
may charge fees that shall reflect the reasonable costs of the tax collector for his or her386
actions under this subsection and that shall be added to the assessment. The tax collector387
shall be a party signatory to each intergovernmental assessment agreement entered into by388
a participating local government. All proceeds of assessment installments received by a389
participating local government, net of administrative fees of the participating local390
government, that are subject to a pledge created in an intergovernmental assessment391
agreement shall be remitted to the applicable authority pursuant to the terms of the392
intergovernmental assessment agreement.393
(g) A delinquent assessment installment that is unpaid when due shall incur interest and394
penalties in the same manner as delinquent ad valorem taxes and shall be enforced by or395
on behalf of the participating local government in the same manner as its ad valorem tax396
liens. All proceeds from enforcing a delinquent assessment installment and related397
penalties and interest received by a participating local government that are subject to a398
pledge created in an intergovernmental assessment agreement shall be remitted to the399
applicable authority pursuant to the terms of the intergovernmental assessment agreement.400
(h) Subject to an intergovernmental assessment agreement, a participating local401
government may charge fees that shall reflect the reasonable costs of the participating local402
government for its actions under this article and that shall be added to the assessment.403
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(i) Assessments shall not count against the tax limitations contained in paragraph (20) of404
Code Section 48-5-220 or Code Section 48-5-350.405
36-62-18.406
(a) No obligations of any participating local government under any intergovernmental407
assessment agreement shall constitute a pledge of the full faith or credit of such408
participating local government.409
(b) Any monetary obligation of any participating local government under any410
intergovernmental assessment agreement shall be payable solely from assessments pledged411
and proceeds from enforcing delinquent assessments pursuant to such intergovernmental412
assessment agreement.413
(c) No party to or third-party beneficiary of any intergovernmental assessment agreement414
or any assignee of any rights under any intergovernmental assessment agreement shall have415
the right to compel:416
(1) Any exercise of the taxing power of any participating local government, provided417
that such party, third-party beneficiary, or assignee may compel the imposition and418
enforcement of assessments agreed to be imposed and enforced pursuant to such419
intergovernmental assessment agreement; or420
(2) The enforcement of any payment against any property or public moneys of any such421
participating local government other than assessments pledged or proceeds from422
enforcing delinquent assessments pursuant to such intergovernmental assessment423
agreement.424
36-62-19.425
The exercise by a participating local government of the powers granted by this article may426
be authorized by resolution of the governing body of such participating local government.427
The resolution shall be adopted by a majority of the members of the governing body428
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present at a meeting of such governing body, which resolution may be adopted at the429
meeting at which such resolution is introduced. Such a resolution or resolutions shall take430
effect immediately and need not be laid over or published or posted."431
SECTION 7.432
This Act shall become effective upon its approval by the Governor or upon its becoming law433
without such approval.434
SECTION 8.435
All laws and parts of laws in conflict with this Act are repealed.436
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