GA
Georgia House Bill HB519

Georgia 2023-2024 Regular Session

Georgia House Bill HB519 Compare Versions

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1-23 LC 47 2038/AP
1+23 LC 47 2038
22 H. B. 519
33 - 1 -
4-House Bill 519 (AS PASSED HOUSE AND SENATE)
4+House Bill 519
55 By: Representative Parrish of the 158
66 th
77
88 A BILL TO BE ENTITLED
99 AN ACT
1010 To create the Emanuel County Public Facilities Authority; to provide that the authority is a
1111 1
1212 body corporate and politic and an instrumentality of the State of Georgia; to authorize the2
1313 authority to acquire, construct, equip, maintain, and operate certain projects, including3
1414 buildings and facilities for use by Emanuel County, the Emanuel County School District, any4
1515 municipality or other political subdivision located in Emanuel County, for its governmental,5
1616 proprietary, and administrative functions; to provide for members of the authority and their6
1717 terms, organization, and reimbursement; to provide for vacancies; to provide for definitions;7
1818 to confer powers and impose duties on the authority; to provide for limitations to the8
1919 authority; to authorize the authority to enter into contracts and leases pertaining to uses of9
2020 such facilities, which contracts and leases may obligate the lessees to make payment for the10
2121 use of the facilities for the term thereof and to pledge for that purpose money derived from11
2222 taxation; to provide that no debt of Emanuel County or the State of Georgia shall be incurred12
2323 by the exercise of any of the powers granted; to authorize the issuance of revenue bonds of13
2424 the authority payable from the revenues, rents, and earnings and other functions of the14
2525 authority; to authorize the collecting and pledging of such revenues, rents, and earnings for15
2626 the payment of such bonds; to authorize the adoption of resolutions and the execution of trust16
2727 agreements and indentures to secure the payment of such bonds and to define the rights of17
28-the holders of such bonds; to provide for a sinking fund; to make the bonds of the authority18 23 LC 47 2038/AP
28+the holders of such bonds; to provide for a sinking fund; to make the bonds of the authority18 23 LC 47 2038
2929 H. B. 519
3030 - 2 -
3131 exempt from taxation; to authorize the issuance of refunding bonds; to provide for the
3232 19
3333 validation of such bonds and to fix the venue for jurisdiction of actions relating to any20
3434 provision of this Act; to provide for immunity and exemption from liability for torts and21
3535 negligence; to provide that the property of the authority shall not be subject to levy and sale;22
3636 to provide that certain moneys are trust funds; to provide that this Act shall be liberally23
3737 construed; to define the scope of the authority's operation; to provide for disposition of24
3838 property upon dissolution of the authority; to provide for severability; to provide for a short25
3939 title; to provide for related matters; to repeal conflicting laws; and for other purposes.26
4040 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:27
4141 SECTION 1.28
4242 Short title.29
4343 This Act shall be known and may be cited as the "Emanuel County Public Facilities30
4444 Authority Act."31
4545 SECTION 2.32
4646 Emanuel County Public Facilities Authority.33
4747 There is created a public body corporate and politic to be known as the Emanuel County34
4848 Public Facilities Authority, which shall be an instrumentality and a public corporation of the35
4949 State of Georgia, the purpose of which shall be to acquire, construct, equip, maintain, and36
5050 operate certain projects for use by Emanuel County, the Emanuel County School District, or37
5151 any municipality or other political subdivision located within Emanuel County, for its38
5252 governmental, proprietary, public, and administrative functions. The authority shall not be39
53-a state institution or a department or agency of the state, but shall be an instrumentality of the40 23 LC 47 2038/AP
53+a state institution or a department or agency of the state, but shall be an instrumentality of the40 23 LC 47 2038
5454 H. B. 519
5555 - 3 -
5656 state, a mere creation of the state, being a distinct corporate entity and exempt from the
5757 41
5858 provisions of Article 2 of Chapter 17 of Title 50 of the O.C.G.A., the "Georgia State42
5959 Financing and Investment Commission Act." The authority shall have its principal office in43
6060 Emanuel County, and its legal situs or residence for the purposes of this Act shall be44
6161 Emanuel County.45
6262 SECTION 3.46
6363 Membership.47
6464 The authority shall consist of five members who shall be eligible to succeed themselves and48
6565 who shall be appointed by the Board of Commissioners of Emanuel County. No more than49
6666 three members of the authority may be members of said board of commissioners or50
6767 employees of Emanuel County. Any member of the authority who is a member of said board51
6868 of commissioners shall serve for a term of office concurrent with such person's term of office52
6969 as a member of said board of commissioners. Each member of the authority who is not a53
7070 member of said board of commissioners shall serve for a term of office of three years, except54
7171 that the initial terms of office of those members first appointed to the authority shall be55
7272 specified at the time of appointment to be one, two, and, if no such member is a member of56
7373 the board of commissioners, three years. After such initial terms, those members who are57
7474 not members of said board of commissioners shall serve for terms of office of three years58
7575 each. Members of the authority shall serve for the terms of office so specified and until the59
7676 appointment and qualification of their respective successors. Vacancies on the authority60
7777 shall be filled by said board of commissioners for the remainder of the unexpired term and61
7878 until the appointment and qualification of a successor. Immediately after their appointment,62
7979 the members of the authority shall enter upon their duties. The authority shall elect one of63
8080 its members as chairperson and one as vice chairperson. The secretary-treasurer of the64
81-authority shall be appointed by the authority and need not be a member of the authority.65 23 LC 47 2038/AP
81+authority shall be appointed by the authority and need not be a member of the authority.65 23 LC 47 2038
8282 H. B. 519
8383 - 4 -
8484 Three members of the authority shall constitute a quorum and no vacancy on the authority
8585 66
8686 shall impair the right of the quorum to exercise all the rights and perform all the duties of the67
8787 authority and, in every instance, a majority vote of a quorum shall authorize any legal act of68
8888 the authority, including all things necessary to authorize and issue revenue bonds. The69
8989 members of the authority shall receive no compensation for their services but may be70
9090 reimbursed by the authority for the actual expenses necessarily incurred in the performance71
9191 of their duties. The authority shall make rules and regulations for its own government and72
9292 shall have perpetual existence.73
9393 SECTION 4.74
9494 Definitions.75
9595 As used in this Act, the following words and terms shall have the following meanings unless76
9696 a different meaning clearly appears from the context:77
9797 (1) "Authority" shall mean the Emanuel County Public Facilities Authority created by78
9898 this Act.79
9999 (2) "Project" shall mean and include real and personal property acquired or held by the80
100100 authority, including all land; buildings; structures; sanitary and surface water sewers;81
101101 utilities, including natural gas distribution, telecommunications, fiber, cable, and82
102102 broadband services; and other public property determined by the authority to be desirable83
103103 for the efficient operation of any department, board, office, commission, or agency of84
104104 Emanuel County, the Emanuel County School District, or any municipality or other85
105105 political subdivision located in Emanuel County, or the State of Georgia in the86
106106 performance of its governmental, proprietary, and administrative functions.87
107107 (3) "Cost of project" shall include the cost of lands, buildings, improvements, machinery,88
108108 equipment, property, easements, rights, franchises, material, labor, services acquired or89
109-contracted for, plans and specification, and financing charges; construction costs; interest90 23 LC 47 2038/AP
109+contracted for, plans and specification, and financing charges; construction costs; interest90 23 LC 47 2038
110110 H. B. 519
111111 - 5 -
112112 prior to and during construction; architectural, accounting, engineering, inspection,
113113 91
114114 administrative, fiscal, and legal expenses; expenses incident to determining the feasibility92
115115 or practicability of the project; and expenses incident to the acquiring, constructing,93
116116 equipping, and operating of any project or any part thereof and to the placing of the same94
117117 in operation.95
118118 (4) "Revenue bonds" shall mean revenue bonds issued under the provisions of Article 396
119119 of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond Law," or under the97
120120 provisions of this Act. The obligations authorized under this Act may be issued by the98
121121 authority in the manner authorized under the Revenue Bond Law.99
122122 SECTION 5.100
123123 Powers.101
124124 The authority shall have all the powers necessary or convenient to carry out and effectuate102
125125 the purposes and provisions of this Act, including, but without limiting the generality of the103
126126 foregoing, the power:104
127127 (1) To sue and be sued;105
128128 (2) To adopt and alter a corporate seal;106
129129 (3) To make and execute with public and private persons and corporations contracts,107
130130 trusts, leases, rental agreements, and other instruments relating to its projects and in108
131131 furtherance of the purposes of the authority, including contracts for the constructing,109
132132 renting, and leasing of its projects for the use of any county or municipality in this state;110
133133 (4) To acquire in its own name by purchase on such terms and conditions and in such111
134134 manner as it may deem proper or by gift, grant, lease, or otherwise, real and personal112
135135 property necessary or convenient for its corporate purposes, or rights and easements113
136136 therein, and to use the same so long as its corporate existence shall continue and to lease114
137-or make contracts with respect to the use of or disposition of the same in any manner it115 23 LC 47 2038/AP
137+or make contracts with respect to the use of or disposition of the same in any manner it115 23 LC 47 2038
138138 H. B. 519
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140140 deems to the best advantage of the authority. Title to any such property shall be held by
141141 116
142142 the authority exclusively for the benefit of the public.117
143143 (5) To improve, extend, add to, reconstruct, renovate, or remodel any project or part118
144144 thereof already acquired;119
145145 (6) To pledge or assign any revenues, income, rent, charges, and fees received by the120
146146 authority;121
147147 (7) To appoint and select agents, engineers, architects, attorneys, fiscal agents,122
148148 accountants, and employees and to provide for their compensation and duties;123
149149 (8) To construct, reconstruct, acquire, own, alter, repair, remodel, maintain, extend,124
150150 improve, operate, manage, and equip projects located on land owned or leased by the125
151151 authority;126
152152 (9) To receive, accept, and use any contributions, loans, or grants by persons, firms, or127
153153 corporations, including the State of Georgia and the United States of America, and any128
154154 other contributions;129
155155 (10) To pay all or part of the costs of any project from the proceeds of revenue bonds of130
156156 the authority or from other lawful sources available to it;131
157157 (11) To prescribe rules and regulations for the operation of and to exercise police powers132
158158 over the projects managed or operated by the authority;133
159159 (12) To accept, receive, and administer gifts, grants, loans and devises of money,134
160160 material, and property of any kind, including loans and grants from the State of Georgia135
161161 or the United States of America or any agency or instrumentality thereof, upon such136
162162 terms and conditions as the State of Georgia or the United States of America or such137
163163 agency or instrumentality may impose;138
164164 (13) To sell, lease, exchange, transfer, assign, pledge, mortgage, dispose of, grant in139
165165 trust, or grant options for any real or personal property or interest therein in furtherance140
166-of the purposes of the authority;141 23 LC 47 2038/AP
166+of the purposes of the authority;141 23 LC 47 2038
167167 H. B. 519
168168 - 7 -
169169 (14) As security for repayment of authority obligations, to pledge, mortgage, convey,
170170 142
171171 assign, hypothecate, or otherwise encumber any property, real or personal, of such143
172172 authority and to execute any trust agreement, indenture, or security agreement containing144
173173 any provisions not in conflict with law, which trust agreement, indenture, or security145
174174 agreement may provide for foreclosure or forced sale of any property of the authority146
175175 upon default, on such obligations, either in payment of principal or interest or in the147
176176 performance of any term or condition, as are contained in such agreement or indenture;148
177177 (15) To borrow money for any of its corporate purposes, to issue revenue bonds payable149
178178 solely from funds pledged for that purpose, and to provide for the payment of the same150
179179 and for the rights of the holders thereof;151
180180 (16) To exercise all powers usually possessed by private corporations performing similar152
181181 functions which are not in conflict with the Constitution and laws of this state; and153
182182 (17) Pursuant to proper resolution of the authority, to issue revenue bonds payable from154
183183 the rents and revenues of the authority and its projects, which bonds may be issued in155
184184 either fully negotiable coupon form, in which event they shall have all the qualities and156
185185 incidents of negotiable instruments under the laws of the State of Georgia, or which157
186186 bonds may be issued in whole or in part in nonnegotiable fully registered form without158
187187 coupons, payable to a designated payee or to the registered assigns of the payee with such159
188188 conversion privileges as the authority may provide, for the purpose of paying all or any160
189189 part of the cost associated with the projects authorized by the authority, including the cost161
190190 of constructing, reconstructing, equipping, extending, adding to, or improving such162
191191 projects or for the purpose of refunding, as provided in this Act, any such bonds of the163
192192 authority theretofore issued. If the proceeds of the bonds of any issue shall exceed the164
193193 amount required for the purpose for which such bonds were issued, the surplus shall be165
194194 paid into the fund provided for the payment of principal and interest on such bonds. All166
195195 such revenue bonds shall be issued and validated under and in accordance with the167
196-procedures of Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the Revenue Bond168 23 LC 47 2038/AP
196+procedures of Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the Revenue Bond168 23 LC 47 2038
197197 H. B. 519
198198 - 8 -
199199 Law, and in accordance with all terms and provisions thereof not in conflict with this Act,
200200 169
201201 and in accordance with Code Section 50-17-1 of the O.C.G.A., relating to use of170
202202 facsimile signatures on public securities, and, as security for the payment of any revenue171
203203 bonds so authorized, any rents and revenue of the authority may be pledged and assigned.172
204204 Such bonds shall be declared to be issued for an essential public and governmental173
205205 purpose, and such bonds and all income therefrom shall be exempt from all taxation174
206206 within the State of Georgia. For the purpose of the exemption from taxation of such175
207207 bonds and the income therefrom, the authority shall be deemed to be a political176
208208 subdivision of the State of Georgia.177
209209 SECTION 6.178
210210 Credit not pledged and debt not created by bonds.179
211211 Revenue bonds issued under the provisions of this Act shall not constitute a debt or a pledge180
212212 of the faith and credit of the State of Georgia, Emanuel County, the Emanuel County School181
213213 District, or any municipality or other political subdivision located in Emanuel County, but182
214214 such bonds shall be payable from the rentals, revenue, earnings, and funds of the authority183
215215 as provided in the resolution or trust agreement or indenture authorizing the issuance and184
216216 securing the payment of such bonds. The issuance of such bonds shall not directly,185
217217 indirectly, or contingently obligate the state or said county to levy or pledge any form of186
218218 taxation for the payment thereof. No holder of any bond or receiver or trustee in connection187
219219 therewith shall have the right to enforce the payment thereof against any property of the state188
220220 or of said county, nor shall any such bond constitute a charge, lien, or encumbrance, legal or189
221221 equitable, upon any such property. All such bonds shall contain on their face a recital setting190
222-forth substantially the foregoing provisions of this section.191 23 LC 47 2038/AP
222+forth substantially the foregoing provisions of this section.191 23 LC 47 2038
223223 H. B. 519
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225225 SECTION 7.
226226 192
227227 Trust agreement.193
228228 In the discretion of the authority, any issue of revenue bonds may be secured by an194
229229 agreement or indenture made by the authority with a corporate trustee, which may be any195
230230 trust company or bank having the powers of a trust company within or without the State of196
231231 Georgia. Such trust agreement or indenture may pledge and assign rents, fees, charges,197
232232 revenues, and earnings to be received by the authority. The resolution providing for the198
233233 issuance of revenue bonds and such trust agreement or indenture may contain provisions for199
234234 protecting and enforcing the rights and remedies of the bondholders, including the right of200
235235 appointment of a receiver upon default of the payment of any principal or interest obligation201
236236 and the right of any receiver or trustee to enforce collection of any rents, fees, charges, or202
237237 revenues for use of the project or projects necessary to pay all costs of operation and all203
238238 reserves provided for, all principal and interest on all bonds of the issue, all costs of204
239239 collection, and all other costs reasonably necessary to accomplish the collection of such sums205
240240 in the event of any default of the authority. Such resolution and such trust agreement or206
241241 indenture may include covenants setting forth the duties of the authority in relation to the207
242242 acquisition of property for and the construction of the project and to the custody,208
243243 safeguarding, and application of all funds and covenants providing for the operation,209
244244 maintenance, repair, and insurance of the project or projects and may contain provisions210
245245 concerning the conditions, if any, upon which additional revenue bonds may be issued. Such211
246246 trust agreement or indenture may set forth the rights and remedies of the bondholders and of212
247247 the trustee and may restrict the individual right of action of bondholders as is customary in213
248248 securing bonds and debentures of corporations and may contain such other provisions as the214
249249 authority may deem reasonable and proper for the security of the bondholders. All expenses215
250250 incurred in carrying out such trust may be treated as a part of the cost of maintenance,216
251-operation, and repair of the project affected by such trust.217 23 LC 47 2038/AP
251+operation, and repair of the project affected by such trust.217 23 LC 47 2038
252252 H. B. 519
253253 - 10 -
254254 SECTION 8.
255255 218
256256 Refunding bonds.219
257257 The authority is authorized to provide by resolution for the issuance of revenue bonds of the220
258258 authority for the purpose of calling, refunding, or refinancing any revenue bonds issued221
259259 under the provisions of this Act and then outstanding and to include in the amount of such222
260260 refunding bonds all interest and any call premiums that may be required for the redemption223
261261 and refunding of such outstanding bonds.224
262262 SECTION 9.225
263263 Venue of actions, jurisdiction.226
264264 Any action to protect or enforce any rights under the provisions of this Act or any action227
265265 against the authority brought in the courts of the State of Georgia shall be brought in the228
266266 Superior Court of Emanuel County, Georgia, and any action pertaining to validation of any229
267267 bonds issued under the provisions of this Act shall be brought in said court, which shall have230
268268 exclusive, original jurisdiction of such actions.231
269269 SECTION 10.232
270270 Revenue bond validation.233
271271 The petition for validation of all revenue bonds of the authority shall be brought against the234
272272 authority, and any contracting party whose obligation is pledged as security for the payment235
273273 of the bonds sought to be validated, as defendants, and the defendants shall be required to236
274274 show cause, if any exists, why such contract or contracts and the terms and conditions thereof237
275275 shall not be adjudicated to be in all respects valid and binding upon such contracting parties.238
276-It shall be incumbent upon such defendants to defend against adjudication of the validity and239 23 LC 47 2038/AP
276+It shall be incumbent upon such defendants to defend against adjudication of the validity and239 23 LC 47 2038
277277 H. B. 519
278278 - 11 -
279279 binding effect of such contract or contracts or be forever bound thereby. Notice of such
280280 240
281281 proceedings shall be included in the notice of the validation hearing required to be issued and241
282282 published by the clerk of the Superior Court of Emanuel County in which court such242
283283 validation proceedings shall be initiated.243
284284 SECTION 11.244
285285 Interest of bondholders protected.245
286286 While any of the bonds issued by the authority remain outstanding, the powers, duties, or246
287287 existence of the authority or of its officers, employees, or agents shall not be diminished,247
288288 impaired, or affected in any manner that will affect adversely the interest and rights of the248
289289 holders of such bonds. The provisions of this Act shall be for the benefit of the authority and249
290290 the holders of any such bonds and, upon the issuance of bonds under the provisions of this250
291291 Act, shall constitute a contract with the holders of such bonds.251
292292 SECTION 12.252
293293 Revenues, earnings, rents, and charges; use.253
294294 (a) For the purpose of earning sufficient revenue to make possible the financing of the254
295295 construction of the project or projects of the authority with revenue bonds, the authority is255
296296 authorized and empowered to fix, revise, and collect rents, fees, and charges on each project256
297297 which it shall cause to be acquired or constructed. Such rents, fees, or charges to be paid for257
298298 the use of such project or projects shall be so fixed and adjusted so as to provide a fund258
299299 sufficient with other revenue, if any, of such project or projects or of the authority:259
300300 (1) To pay the cost of operating, maintaining, and repairing the project or projects,260
301-including reserves for insurance and extraordinary repairs and other reserves required by261 23 LC 47 2038/AP
301+including reserves for insurance and extraordinary repairs and other reserves required by261 23 LC 47 2038
302302 H. B. 519
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304304 the resolution or trust agreement or indenture pertaining to such bonds and the issuance
305305 262
306306 thereof, unless such cost shall be otherwise provided for;263
307307 (2) To pay the principal of and interest on such revenue bonds as the same shall become264
308308 due, including call premiums, if any, the proceeds of which shall have been or shall be265
309309 used to pay the cost of such project or projects;266
310310 (3) To comply with any sinking fund requirements contained in the resolution or trust267
311311 agreement or indenture pertaining to the issuance of and security for such bonds;268
312312 (4) To perform fully all provisions of such resolution or trust agreement or indenture269
313313 relating to the issuance of or security for such bonds to the payment of which such rent270
314314 is pledged;271
315315 (5) To accumulate any excess income which may be required by the purchasers of such272
316316 bonds or may be dictated by the requirements of such resolution or trust agreement or273
317317 indenture, or which may be required for achieving ready marketability of and low interest274
318318 rates on such bonds; and275
319319 (6) To pay any expenses in connection with such bond issue or of such project,276
320320 including, but not limited to, trustees', attorney's, and fiscal agents' fees.277
321321 (b) Such rent shall be payable at such intervals as may be agreed upon and set forth in the278
322322 rental contract or lease providing therefor, and any such contract or lease may provide for the279
323323 commencement of rent payments to the authority prior to the completion of the project by280
324324 the authority and may provide for the payment of rent during such times as such project may281
325325 be partially or wholly untenantable.282
326326 (c) Such rental contract or lease may obligate the tenants or lessees to operate, maintain, and283
327327 keep in good repair, including complete reconstruction, if necessary, the rented or leased284
328328 premises and projects, regardless of the cause of the necessity of such maintenance, repair,285
329329 or reconstruction.286
330330 (d) Such rental contract or lease may obligate the tenants or lessees to indemnify and save287
331-harmless the authority from any and all damage to persons and property occurring on or by288 23 LC 47 2038/AP
331+harmless the authority from any and all damage to persons and property occurring on or by288 23 LC 47 2038
332332 H. B. 519
333333 - 13 -
334334 reason of the leased property or improvements thereon and to undertake, at the expense of
335335 289
336336 the tenants or lessees, the defense of any action brought against the authority by reason of290
337337 injury or damages to persons or property occurring on or by reason of the leased premises.291
338338 (e) In the event of any failure or refusal on the part of the tenants or lessees to perform292
339339 punctually any covenant or obligation contained in any such rental contract or lease, the293
340340 authority may enforce performance by any legal or equitable process against the tenants or294
341341 lessees.295
342342 (f) The authority shall be permitted to assign any rent payable to it, pursuant to such rental296
343343 contract or lease, to a trustee or paying agent as may be required by the terms of the297
344344 resolution or trust agreement or indenture relating to the issuance of and security for such298
345345 bonds.299
346346 (g) The use and disposition of the authority's revenue shall be subject to the provisions of300
347347 the resolution authorizing the issuance of such bonds or of the trust agreement or indenture,301
348348 if any, securing the same.302
349349 SECTION 13.303
350350 Sinking fund.304
351351 The revenue, rents, and earnings derived from any particular project or projects and any and305
352352 all revenue, rents, and earnings received by the authority, regardless of whether such306
353353 revenue, rents, and earnings were produced by a particular project for which bonds have been307
354354 issued, unless otherwise pledged, may be pledged by the authority to payment of the308
355355 principal of and interest on revenue bonds of the authority as may be provided in any309
356356 resolution authorizing the issuance of such bonds or in any trust instrument pertaining to such310
357357 bonds, and such funds so pledged, from whatever source received, may include funds311
358358 received from one or more or all sources and may be set aside at regular intervals into312
359-sinking funds for which provision may be made in any such resolution or trust instrument313 23 LC 47 2038/AP
359+sinking funds for which provision may be made in any such resolution or trust instrument313 23 LC 47 2038
360360 H. B. 519
361361 - 14 -
362362 and which may be pledged to and charged with the payment of the interest upon such
363363 314
364364 revenue bonds as such interest shall become due, the principal of the bonds as the same shall315
365365 mature, the necessary charges of any trustee or paying agent for paying such principal and316
366366 interest, and any premium upon bonds retired by call or purchase, and the use and disposition317
367367 of any sinking fund may be subject to such regulation as may be provided for in the318
368368 resolution authorizing the issuance of the bonds or in the trust instrument securing the319
369369 payment of the same.320
370370 SECTION 14.321
371371 Taxation status.322
372372 The exercise of the powers conferred upon the authority under this Act shall constitute an323
373373 essential governmental function for a public purpose, and to the maximum extent permitted324
374374 by general law, the authority shall be required to pay no taxes or assessments upon any of the325
375375 property acquired by it or under its jurisdiction, control, possession, or supervision or upon326
376376 its activities in the operation and maintenance of property acquired by it or of buildings327
377377 erected or acquired by it or any fees, rents, or other charges for the use of such property or328
378378 buildings or other income received by the authority. This section shall not include an329
379379 exemption from sales and use tax on property purchased by or for the use of the authority.330
380380 SECTION 15.331
381381 Immunity from tort actions.332
382382 The authority shall have the same immunity and exemption from liability for torts and333
383383 negligence as Emanuel County, and the officers, agents, and employees of the authority,334
384384 when in performance of work of the authority, shall have the same immunity and exemption335
385-from liability for torts and negligence as officers, agents, and employees of Emanuel County.336 23 LC 47 2038/AP
385+from liability for torts and negligence as officers, agents, and employees of Emanuel County.336 23 LC 47 2038
386386 H. B. 519
387387 - 15 -
388388 The authority may be sued the same as private corporations on any contractual obligation of
389389 337
390390 the authority.338
391391 SECTION 16.339
392392 Property not subject to levy and sale.340
393393 The property of the authority shall not be subject to levy and sale under legal process.341
394394 SECTION 17.342
395395 Trust funds.343
396396 All funds received pursuant to the authority of Section 12 of this Act, whether as proceeds344
397397 from the sale of revenue bonds or as revenue, rents, fees, charges, or other earnings or as345
398398 grants, gifts, or other contributions, shall be deemed to be trust funds to be held and applied346
399399 by the authority, solely as provided in this Act. The bondholders entitled to receive the347
400400 benefits of such funds shall have a lien on all such funds until the same are applied as348
401401 provided for in any such resolution or trust instrument of the authority.349
402402 SECTION 18.350
403403 Construction.351
404404 This Act and any other law enacted with reference to the authority shall be liberally352
405-construed for the accomplishment of the purposes of the authority.353 23 LC 47 2038/AP
405+construed for the accomplishment of the purposes of the authority.353 23 LC 47 2038
406406 H. B. 519
407407 - 16 -
408408 SECTION 19.
409409 354
410410 Scope of operations.355
411411 The projects of the authority's operation shall be located in the territory embraced within the356
412412 jurisdictional limits of Emanuel County as the same now or may hereafter exist.357
413413 SECTION 20.358
414414 Conveyance of property upon dissolution.359
415415 Should the authority for any reason be dissolved after full payment of all bonded360
416416 indebtedness incurred under this Act, both as to principal and interest, title to all property of361
417417 any kind and nature, real and personal, held by the authority at the time of such dissolution362
418418 shall be conveyed to Emanuel County, or title to any such property may be conveyed prior363
419419 to such dissolution in accordance with provisions which may be made therefor in any364
420420 resolution or trust instrument relating to such property, subject to any liens, leases, or other365
421421 encumbrances outstanding against or in respect to said property at the time of such366
422422 conveyance.367
423423 SECTION 21.368
424424 Severability; effect of partial invalidity of Act.369
425425 Should any sentence, clause, phrase, or part of this Act be declared for any reason to be370
426426 unconstitutional or invalid, the same shall not affect such remainder of this Act or any part371
427427 hereof, other than the part so held to be invalid, but the remaining provisions of this Act shall372
428428 remain in full force and effect, and it is the express intention of this Act to enact each373
429-provision of this Act independently of any other provision hereof.374 23 LC 47 2038/AP
429+provision of this Act independently of any other provision hereof.374 23 LC 47 2038
430430 H. B. 519
431431 - 17 -
432432 SECTION 22.
433433 375
434434 General repealer.376
435435 All laws and parts of laws in conflict with this Act are repealed.377