Georgia 2023-2024 Regular Session

Georgia House Bill HB784 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	23 LC 46 0646~~/AP~~
	1	+	23 LC 46 0646
2	2		H. B. 784
3	3		- 1 -
4		-	House Bill 784 ~~(AS PASSED HOUSE AND SENATE)~~
	4	+	House Bill 784
5	5		By: Representatives Holly of the 116
6	6		th
7	7		, Crowe of the 118
8	8		th
9	9		, Douglas of the 78
10	10		th
11	11		, Mathiak of
12	12		the 74
13	13		th
14	14		, Lewis-Ward of the 115
15	15		th
16	16		, and others
17	17		A BILL TO BE ENTITLED
18	18		AN ACT
19	19		To create the Henry County Airport Authority; to provide for a short title and legislative
20	20		1
21	21		findings; to provide for the membership and the appointment and removal of members of the2
22	22		authority and their terms of office, qualifications, duties, powers, and compensation; to3
23	23		provide for vacancies, organization, meetings, and expenses; to prohibit authority employees4
24	24		and members from having certain interests; to provide for definitions; to confer powers and5
25	25		impose duties on the authority; to provide for condemnation of property necessary for airport6
26	26		purposes; to provide for revenue bonds and their form, signatures thereon, negotiability, sale,7
27	27		and use of proceeds from such sales; to provide for interim documents and for lost or8
28	28		mutilated documents; to provide for conditions for issuance; to prohibit the pledge of credit9
29	29		for the payment of bonds; to provide for trust indentures and sinking fund; to provide for10
30	30		payment of bond proceeds; to provide for bondholder remedies and protection; to provide11
31	31		for refunding bonds; to provide for bond validation; to provide for venue and jurisdiction;12
32	32		to provide for trust funds; to provide for authority purpose; to provide for charges; to provide13
33	33		for rules and regulations; to provide for tort immunity; to provide for tax status; to provide14
34	34		for a lease agreement; to provide for supplemental powers; to provide for effect on other15
35	35		governments; to provide for liberal construction; to repeal conflicting laws; and for other16
36		-	purposes.17 23 LC 46 0646~~/AP~~
	36	+	purposes.17 23 LC 46 0646
37	37		H. B. 784
38	38		- 2 -
39	39		BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
40	40		18
41	41		SECTION 1.19
42	42		Short title.20
43	43		This Act shall be known and may be cited as the "Henry County Airport Authority Act."21
44	44		SECTION 2.22
45	45		Legislative findings.23
46	46		The General Assembly determines and finds that there is a present and projected growth in24
47	47		commercial and private air traffic in the Henry County area. There is the need for adequate25
48	48		airport facilities to safely and efficiently serve the air transportation needs of this state and26
49	49		Henry County; the need to eliminate airport hazards; and the need to raise capital for the27
50	50		establishment, operation, and maintenance of present and future airport facilities. The28
51	51		General Assembly further determines and finds that the establishment of an authority is29
52	52		necessary and essential to ensure the welfare, safety, and convenience of citizens of the30
53	53		region and the entire state and to ensure the proper economic development of the region and31
54	54		the entire state.32
55	55		SECTION 3.33
56	56		Henry County Airport Authority.34
57	57		(a)(1) There is created a body corporate and politic, to be known as the "Henry County35
58	58		Airport Authority," which shall be deemed to be a political subdivision of the State of36
59		-	Georgia and a public corporation, and by that name, style, and title such body may37 23 LC 46 0646~~/AP~~
	59	+	Georgia and a public corporation, and by that name, style, and title such body may37 23 LC 46 0646
60	60		H. B. 784
61	61		- 3 -
62	62		contract and be contracted with, sue and be sued, implead and be impleaded, and bring
63	63		38
64	64		and defend actions in all courts. The authority shall have perpetual existence.39
65	65		(2) Henry County shall retain ownership of any airport which is or shall be operated by40
66	66		the authority.41
67	67		(b)(1) The authority shall consist of five members who shall serve without pay. At least42
68	68		four of the five members of the authority shall reside in Henry County. One authority43
69	69		member shall be appointed by the governing authority of Henry County from one or more44
70	70		nominations made by the representatives in the Henry County delegation. One authority45
71	71		member shall be appointed by the governing authority of Henry County from one or more46
72	72		nominations made by the senators in the Henry County delegation. The Henry County47
73	73		legislative delegation shall be composed of all senators and representatives in the General48
74	74		Assembly whose districts are wholly or partially in Henry County. The governing49
75	75		authority of Henry County shall appoint two authority members and such appointments50
76	76		shall not require nominations from outside entities. In the event of a tie vote for an51
77	77		appointment to the authority, the vote of the chairperson of the governing authority shall52
78	78		be controlling.53
79	79		(2) The chairperson of the governing authority of Henry County shall appoint one54
80	80		authority member and such appointment shall not require a nomination from an outside55
81	81		entity. Such member shall be the chairperson of the authority.56
82	82		(3) The power to purchase and contract on behalf of the authority, including but not57
83	83		limited to with regard to legal services, shall vest in the chairperson of such authority.58
84	84		Such purchases and contracts shall be voted on by a quorum of three or more of the59
85	85		members of such authority before such purchases or contracts are made or entered into.60
86	86		Any recommendation by the chairperson to the other members of the authority with61
87	87		regard to such purchases or contracts may be denied but only by the vote of four members62
88		-	of the authority.63 23 LC 46 0646~~/AP~~
	88	+	of the authority.63 23 LC 46 0646
89	89		H. B. 784
90	90		- 4 -
91	91		(4) The terms of office of such members shall be for four years and until their respective
92	92		64
93	93		successors are appointed and qualified, except that the Henry County Board of65
94	94		Commissioners in making the initial appointments or in filling vacancies may vary the66
95	95		initial terms of members or the terms of persons appointed to fill vacancies in such67
96	96		manner so that the terms of members shall be staggered.68
97	97		(5) Any member of the authority may be selected and appointed to succeed himself or69
98	98		herself. After such appointment, the members of the authority shall enter upon their70
99	99		duties. Any vacancy on the authority shall be filled in the same manner as was the71
100	100		original appointment of the member whose term of membership resulted in such vacancy,72
101	101		and the person so selected and appointed shall serve for the remainder of the unexpired73
102	102		term. The members of the authority shall be reimbursed for all actual expenses incurred74
103	103		in the performance of their duties out of funds of the authority.75
104	104		(6) Notwithstanding the terms of office provided for in paragraph (2) of this subsection,76
105	105		members shall serve at the pleasure of the Board of Commissioners. Members of the77
106	106		authority may be removed by a two-thirds' majority vote of the Board of Commissioners,78
107	107		and such removal can be made with or without cause.79
108	108		(7) The authority shall make rules and regulations for its own governance.80
109	109		(c) To be eligible for appointment as a member of the authority, a person shall be at least 2181
110	110		years of age and a resident of Henry County prior to the date of such person's appointment82
111	111		and shall not have been convicted of a felony. Notwithstanding this residency requirement,83
112	112		one of the two appointments by the governing authority that does not require a nomination84
113	113		from an outside entity may be of a person who does not reside in Henry County.85
114	114		(d) At the same time, the members of the authority shall elect one of their number as vice86
115	115		chairperson and one of their number as secretary. The members of the authority may also87
116	116		elect one of their number as treasurer; the secretary may also serve as treasurer. Each such88
117	117		elected officer shall serve for a period of two years and until their successor is duly elected89
118		-	and qualified. The chairperson of the authority shall be entitled to vote upon any issue,90 23 LC 46 0646~~/AP~~
	118	+	and qualified. The chairperson of the authority shall be entitled to vote upon any issue,90 23 LC 46 0646
119	119		H. B. 784
120	120		- 5 -
121	121		motion, or resolution. Notwithstanding any other provisions of this subsection to the
122	122		91
123	123		contrary, the initial chairperson, vice chairperson, secretary, and treasurer appointed under92
124	124		this Act shall be appointed at the first meeting of the full membership of the authority and93
125	125		such officers shall serve until the first meeting of the authority in April, 2024.94
126	126		(e) A majority of the members of the authority shall constitute a quorum. No vacancy on95
127	127		the authority shall impair the right of the quorum to exercise all of the rights and perform all96
128	128		of the duties of the authority.97
129	129		(f) A vacancy on the authority shall exist in the office of any member of the authority who98
130	130		is convicted of a felony or who enters a plea of nolo contendere thereto; who is convicted of99
131	131		a crime involving moral turpitude or who enters a plea of nolo contendere thereto; who100
132	132		moves such person's residence from the county; who is convicted of any act of misfeasance,101
133	133		malfeasance, or nonfeasance of such person's duties as a member of the authority; or who102
134	134		fails to attend any regular or special meeting of the authority for a period of three meetings103
135	135		without an excuse approved by a resolution of the authority.104
136	136		(g) All meetings of the authority, regular or special, shall be open to the public and shall be105
137	137		conducted pursuant to Chapter 14 of Title 50 of the O.C.G.A.106
138	138		(h) Any member of the authority who has a conflict of interest between his or her107
139	139		membership on the authority and his or her personal or professional business interest shall108
140	140		disclose such conflict to the authority and any sale, lease, or purchase of any property or109
141	141		contract that may be subject to such conflict must be approved by a two-thirds' vote of the110
142	142		authority. The authority may adopt additional conflict-of-interest regulations governing its111
143		-	members and employees.112 23 LC 46 0646~~/AP~~
	143	+	members and employees.112 23 LC 46 0646
144	144		H. B. 784
145	145		- 6 -
146	146		SECTION 4.
147	147		113
148	148		Definitions.114
149	149		(a) As used in this Act, the term:115
150	150		(1) "Airport" means any area of land or structure which is or has been used or which the116
151	151		authority may plan to use for the landing and taking off of commercial, private, and117
152	152		military aircraft, including helicopters; all buildings, equipment, facilities, or other118
153	153		property and improvements of any kind or nature located within the bounds of any such119
154	154		area of land or structure which are or have been used or which the authority may plan to120
155	155		use for fixed base operator or terminal facilities; all facilities of any type for the121
156	156		accommodation of passengers, maintenance, servicing, housing, parking, and operation122
157	157		of aircraft, business offices and facilities of private businesses and governmental123
158	158		agencies, and the parking of vehicles; and all other activities which are or have been124
159	159		carried on or which may be necessary or convenient in conjunction with the landing and125
160	160		taking off of commercial, private, and military aircraft including all lands currently126
161	161		owned by Henry County currently in use for airport purposes or which may be later127
162	162		obtained for airport purposes.128
163	163		(2) "Airport hazard" means any structure, terrain, or object of natural growth which129
164	164		obstructs or impedes the airspace required for the flight, landing, or taking off of aircraft130
165	165		to or from an airport, or any other thing that is hazardous to the flight, landing, or taking131
166	166		off of aircraft to or from an airport.132
167	167		(3) "Authority" means the Henry County Airport Authority created by this Act.133
168	168		(4) "Cost of the project" means and includes the cost of construction; the cost of all134
169	169		lands, properties, rights, easements, and franchises acquired; the cost of all machinery and135
170	170		equipment, financing charges, interest prior to and during construction and for one year136
171	171		after completion of construction; the cost of engineering, architectural, fiscal agents, and137
172		-	legal expenses, and of plans and specifications, and other expenses necessary or incident138 23 LC 46 0646~~/AP~~
	172	+	legal expenses, and of plans and specifications, and other expenses necessary or incident138 23 LC 46 0646
173	173		H. B. 784
174	174		- 7 -
175	175		to determining the feasibility or practicability of the project, administrative expenses, and
176	176		139
177	177		such other expenses as may be necessary or incident to the financing provided for in this140
178	178		Act; the cost of the acquisition or construction of any project; the cost of placing any141
179	179		project in operation; and the cost of condemnation of property necessary for such142
180	180		construction and operation. Any obligation or expense incurred for any of the foregoing143
181	181		purposes shall be regarded as a part of the cost of the project and may be paid or144
182	182		reimbursed as such out of the proceeds of revenue bonds issued under the provisions of145
183	183		this Act for such project.146
184	184		(5) "Project" means and includes the acquisition, construction, equipping, maintenance,147
185	185		and operation of an airport and the usual facilities related thereto.148
186	186		(6) "Revenue bonds" or "bonds" means revenue bonds as defined and provided for in149
187	187		Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond Law," and such150
188	188		type of obligations that may be issued by the authority as provided for under such151
189	189		Revenue Bond Law and any amendments thereto. Such term shall also mean obligations152
190	190		of the authority, the issuance of which are specifically provided for in this Act.153
191	191		(b) Any project shall be deemed self-liquidating if, in the judgment of the authority, the154
192	192		revenues and earnings to be derived by the authority therefrom and all facilities used in155
193	193		connection therewith will be sufficient to pay the costs of operating, maintaining, repairing,156
194	194		improving, and extending the project and to pay the principal of and interest on the revenue157
195	195		bonds which may be issued to finance, in whole or in part, the cost of such project or158
196	196		projects.159
197	197		SECTION 5.160
198	198		Powers.161
199	199		The authority shall have the power:162
200		-	(1) To have a seal and alter the same at its pleasure;163 23 LC 46 0646~~/AP~~
	200	+	(1) To have a seal and alter the same at its pleasure;163 23 LC 46 0646
201	201		H. B. 784
202	202		- 8 -
203	203		(2) To acquire by purchase, lease, or otherwise and to hold, lease, and dispose of real and
204	204		164
205	205		personal property of every kind and character for its corporate purposes and to plan,165
206	206		acquire, establish, develop, construct, enlarge, improve, maintain, equip, and lease all166
207	207		airport property, projects, or facilities which shall come under the control of the authority167
208	208		under the provisions of this Act or which it may acquire or plan to acquire; to regulate,168
209	209		protect, and police such airport properties, projects, or facilities and all related activities169
210	210		and facilities; to enter into any contracts, leases, or other agreements, promulgate any170
211	211		orders, set any tolls, fees, or other charges for the use of property or services of the171
212	212		authority and collect and use same as necessary to operate the airport property, projects,172
213	213		or facilities under control of the authority; and to accomplish any purposes of this Act and173
214	214		make any purchases or sales necessary for such purposes;174
215	215		(3)(A) To acquire in its own name by purchase, on such terms and conditions and in175
216	216		such manner as it may deem proper, real property or rights or easements therein, or176
217	217		franchises necessary or convenient for its corporate purposes, and to use the same so177
218	218		long as its corporate existence shall continue; to lease or make contracts with respect178
219	219		to the use of, or dispose of the same in any manner it deems to be in the best interest of179
220	220		the authority.180
221	221		(B) No property shall be acquired under the provisions of this Act upon which any lien181
222	222		or other encumbrance exists, unless at the time such property is so acquired a sufficient182
223	223		sum of money be deposited in trust to pay and redeem the fair value of such lien or183
224	224		encumbrance; provided, however, that the provisions of this subparagraph shall not184
225	225		apply to any property acquired or transferred from the United States of America, the185
226	226		State of Georgia, or Henry County.186
227	227		(C) Nothing provided for in this paragraph shall obligate Henry County to transfer any187
228	228		property to the authority without the approval of the Board of Commissioners;188
229	229		(4) To request that Henry County exercise the power of eminent domain to acquire any189
230		-	private real property or any rights or interests therein, including any easements, as190 23 LC 46 0646~~/AP~~
	230	+	private real property or any rights or interests therein, including any easements, as190 23 LC 46 0646
231	231		H. B. 784
232	232		- 9 -
233	233		necessary or convenient for the accomplishment of the purposes of this Act, including the
234	234		191
235	235		elimination of airport hazards, in accordance with the provisions of any and all existing192
236	236		laws applicable to the exercise of such power, including, without limitation, the authority193
237	237		provided for in Code Section 6-3-22 of the O.C.G.A. The authority shall pay for any194
238	238		property condemned under this power from funds of the authority. The court having195
239	239		jurisdiction of the suit, action, or proceedings may enter such orders regarding the196
240	240		payment for such property or interest therein as may be fair and just to the county, to the197
241	241		authority, and to the owners of the property being condemned;198
242	242		(5) To appoint, select, and employ officers, agents, and employees, including an airport199
243	243		manager, operations staff, engineering, architectural, and construction experts, fiscal200
244	244		agents, and attorneys, and to fix their respective compensations;201
245	245		(6) To make contracts and leases and to execute all instruments necessary or convenient,202
246	246		including contracts for construction of projects and leases of projects or contracts with203
247	247		respect to the use of projects which it causes to be constructed, erected, or acquired. Any204
248	248		and all persons, firms, and corporations and any and all political subdivisions,205
249	249		departments, institutions, or agencies of the state are authorized to enter into contracts,206
250	250		leases, or agreements with the authority upon such terms and for such purposes as they207
251	251		deem advisable; and, without limiting the generality of the foregoing, authority is208
252	252		specifically granted to municipal corporations, counties, and other political subdivisions209
253	253		of this state and to the authority to enter into contracts, lease agreements, or210
254	254		other undertakings with each other relating to projects of the authority for a term not to211
255	255		exceed 50 years;212
256	256		(7) To construct, erect, acquire, own, repair, remodel, maintain, add to, extend, improve,213
257	257		equip, operate, and manage projects, as defined in this Act, the cost of any such project214
258	258		to be paid in whole or in part from the proceeds of revenue bonds of the authority or from215
259		-	such proceeds and any grant or contribution from the United States of America or any216 23 LC 46 0646~~/AP~~
	259	+	such proceeds and any grant or contribution from the United States of America or any216 23 LC 46 0646
260	260		H. B. 784
261	261		- 10 -
262	262		agency or instrumentality thereof or from the State of Georgia or any agency or
263	263		217
264	264		instrumentality thereof or from Henry County;218
265	265		(8) To accept loans and grants of money or materials or property of any kind from the219
266	266		United States of America or any agency or instrumentality thereof upon such terms and220
267	267		conditions as the United States of America or such agency or instrumentality may221
268	268		require;222
269	269		(9) To accept loans and grants of money or materials or property of any kind from the223
270	270		State of Georgia or any agency or instrumentality or political subdivision thereof upon224
271	271		such terms and conditions as the State of Georgia or such agency or instrumentality or225
272	272		political subdivision may require;226
273	273		(10) To borrow money for any of its corporate purposes and to issue negotiable revenue227
274	274		bonds payable solely from funds pledged for that purpose and to provide for the payment228
275	275		of the same and for the rights of the holders thereof;229
276	276		(11) To sell, lease, or otherwise dispose of surplus personal property and to sell, lease,230
277	277		or otherwise dispose of land and any improvements thereon acquired by the authority231
278	278		pursuant to law that the authority may determine is no longer required to accomplish the232
279	279		purposes of this Act, including property that is suitable for industrial development. Any233
280	280		such property may be sold, leased, or otherwise disposed of upon such terms and234
281	281		conditions as may be provided by resolution of the authority. The proceeds of any such235
282	282		sale may be used by the authority to accomplish any of the purposes of this Act;236
283	283		(12) To determine what usage may be made of airport properties, projects, or facilities237
284	284		subject to the control of the authority, including the power to determine what classes of238
285	285		aircraft may use particular airports in order to derive the maximum public benefit from239
286	286		all airport properties, projects, or facilities;240
287	287		(13) To exercise each and every power that any county could exercise, under laws241
288	288		existing at the time this Act becomes law, over airports owned or operated by any county242
289		-	which subsequently comes under the control of the authority under the provisions of this243 23 LC 46 0646~~/AP~~
	289	+	which subsequently comes under the control of the authority under the provisions of this243 23 LC 46 0646
290	290		H. B. 784
291	291		- 11 -
292	292		Act just as if the authority were the county that previously owned or operated such airport
293	293		244
294	294		and with regard to any future airport or airports not existing at the time this Act becomes245
295	295		law. The authority may exercise each and every power that a county could have246
296	296		exercised under this Act had the authority acquired the ownership or operation of any247
297	297		such airport or airports as if the authority were a county;248
298	298		(14) To enter into contracts, leases, or other agreements with fixed base operators,249
299	299		management companies, federally certificated air carriers, other commercial air carriers,250
300	300		and other commercial users of the authority's airports for the use of such airports under251
301	301		such terms and conditions as the authority deems appropriate and for such charges,252
302	302		rentals, and fees as the authority deems appropriate;253
303	303		(15) To enter into such agreements with any county presently operating airports of which254
304	304		the authority may subsequently assume control with respect to the manner of transfer of255
305	305		airport employees from any county to the authority as the authority deems necessary and256
306	306		appropriate;257
307	307		(16) To exercise any power usually possessed by private corporations performing similar258
308	308		functions, including the power to obtain long- or short-term loans, to give deeds to secure259
309	309		debt on real property, security agreements on personal property, or any other security260
310	310		agreements, and approve, execute, and deliver appropriate evidence of such indebtedness,261
311	311		provided no such power is in conflict with the Constitution or general laws of this state;262
312	312		and263
313	313		(17) To do all things necessary or convenient to carry out the powers expressly given in264
314		-	this Act.265 23 LC 46 0646~~/AP~~
	314	+	this Act.265 23 LC 46 0646
315	315		H. B. 784
316	316		- 12 -
317	317		SECTION 6.
318	318		266
319	319		Revenue bonds.267
320	320		The authority, or any authority or body which has or which may in the future succeed to the268
321	321		powers, duties, and liabilities vested in the authority, shall have the power to provide by269
322	322		resolution for the issuance of negotiable revenue bonds of the authority for the purpose of270
323	323		paying all or any part of the cost as herein defined of any one or more projects. The principal271
324	324		of and interest on such revenue bonds shall be payable solely from the sinking fund provided272
325	325		for in this Act for such payment. The bonds of each issue shall be dated; shall bear interest273
326	326		at such rate or rates per annum, payable at such time or times; shall mature at such time or274
327	327		times not exceeding 40 years from their date or dates; shall be payable in such medium of275
328	328		payment as to both principal and interest as may be determined by the authority; and may be276
329	329		redeemable before maturity, at the option of the authority, at such price or prices and under277
330	330		such terms and conditions as may be fixed by the authority in the resolution for the issuance278
331	331		of bonds.279
332	332		SECTION 7.280
333	333		Revenue bonds; form; denomination; registration; place of payment.281
334	334		The authority shall determine the form of the bonds, including any interest coupons to be282
335	335		attached thereto, and shall fix the denomination or denominations of the bonds and the place283
336	336		or places of payment of principal and interest thereon, which may be at any bank or trust284
337	337		company inside or outside the state. The bonds may be issued in coupon or registered form,285
338	338		or both, as the authority may determine, and provision may be made for the registration of286
339		-	any coupon bond as to principal alone and also as to both principal and interest.287 23 LC 46 0646~~/AP~~
	339	+	any coupon bond as to principal alone and also as to both principal and interest.287 23 LC 46 0646
340	340		H. B. 784
341	341		- 13 -
342	342		SECTION 8.
343	343		288
344	344		Revenue bonds; signatures; seal.289
345	345		In case any officer whose signature shall appear on any bonds or whose facsimile signature290
346	346		shall appear on any coupon shall cease to be such officer before the delivery of such bonds,291
347	347		such signature shall nevertheless be valid and sufficient for all purposes the same as if such292
348	348		officer had remained in office until such delivery. All such bonds shall be signed by the293
349	349		chairperson of the authority and the official seal of the authority shall be affixed thereto and294
350	350		attested by the secretary of the authority and any coupons attached thereto shall bear the295
351	351		facsimile signatures of the chairperson and the secretary of the authority. Any coupon may296
352	352		bear the facsimile signatures of such persons and any bond may be signed, sealed, and297
353	353		attested on behalf of the authority by such persons as at the actual time of the execution of298
354	354		such bonds shall be duly authorized or hold the proper office, although at the date of such299
355	355		bonds such person may not have been so authorized or shall not have held such office.300
356	356		SECTION 9.301
357	357		Revenue bonds; negotiability; exemption from taxation.302
358	358		All revenue bonds issued under the provisions of this Act shall have and are declared to have303
359	359		all the qualities and incidents of negotiable instruments under the laws of this state. Such304
360	360		bonds, their transfer, and the income therefrom shall be exempt from all taxation within this305
361		-	state.306 23 LC 46 0646~~/AP~~
	361	+	state.306 23 LC 46 0646
362	362		H. B. 784
363	363		- 14 -
364	364		SECTION 10.
365	365		307
366	366		Revenue bonds; sale; price; proceeds. 308
367	367		The authority may sell such bonds in such manner and for such price as it may determine to309
368	368		be in the best interest of the authority. The proceeds derived from the sale of such bonds310
369	369		shall be used solely for the purpose or purposes provided in the resolutions and proceedings311
370	370		authorizing the issuance of such bonds.312
371	371		SECTION 11.313
372	372		Revenue bonds; interim receipts and certificates or temporary bonds. 314
373	373		Prior to the preparation of any definitive bonds the authority may, under like restrictions,315
374	374		issue interim receipts, interim certificates, or temporary bonds, with or without coupons,316
375	375		exchangeable for definitive bonds upon the issuance of the latter.317
376	376		SECTION 12.318
377	377		Revenue bonds; replacement of lost or mutilated bonds.319
378	378		The authority may provide for the replacement of any bonds or coupons which shall become320
379	379		mutilated or be destroyed or lost.321
380	380		SECTION 13.322
381	381		Revenue bonds; conditions precedent to issuance.323
382	382		Such revenue bonds may be issued without any other proceedings or the happening of any324
383	383		other conditions or things other than those proceedings, conditions, and things which are325
384		-	specified or required by this Act. In the discretion of the authority, revenue bonds of a single326 23 LC 46 0646~~/AP~~
	384	+	specified or required by this Act. In the discretion of the authority, revenue bonds of a single326 23 LC 46 0646
385	385		H. B. 784
386	386		- 15 -
387	387		issue may be issued for the purpose of any particular project. Any resolution providing for
388	388		327
389	389		the issuance of revenue bonds under the provisions of this Act shall become effective328
390	390		immediately upon its passage and need not be published or posted. Any such resolution may329
391	391		be passed at any regular or special meeting of the authority by a majority of its members.330
392	392		SECTION 14.331
393	393		Credit not pledged.332
394	394		Revenue bonds issued under the provisions of this Act shall not be deemed to constitute a333
395	395		debt of the State of Georgia or Henry County nor a pledge of the faith and credit of such state334
396	396		or county; but such bonds shall be payable solely from the sinking fund provided for in this335
397	397		Act and the issuance of such revenue bonds shall not directly, indirectly, or contingently336
398	398		obligate such state or county to levy or to pledge any form of taxation whatever therefor or337
399	399		to make any appropriation for their payment. All such bonds shall contain recitals on their338
400	400		face covering substantially the provisions of this section.339
401	401		SECTION 15.340
402	402		Trust indenture as security.341
403	403		In the discretion of the authority, any issuance of revenue bonds may be secured by a trust342
404	404		indenture by and between the authority and a corporate trustee, which may be any trust343
405	405		company or bank having the powers of a trust company inside or outside the state. Such trust344
406	406		indenture may pledge or assign fees, tolls, revenues, and earnings to be received by the345
407	407		authority. Either the resolution providing for the issuance of revenue bonds or such trust346
408	408		indenture may contain such provisions for protecting and enforcing the rights and remedies347
409	409		of the bondholders as may be reasonable and proper and not in violation of law, including348
410		-	covenants setting forth the duties of the authority in relation to the acquisition of property;349 23 LC 46 0646~~/AP~~
	410	+	covenants setting forth the duties of the authority in relation to the acquisition of property;349 23 LC 46 0646
411	411		H. B. 784
412	412		- 16 -
413	413		the construction of the project; the maintenance, operation, repair, and insuring of the project;
414	414		350
415	415		and the custody, safeguarding, and application of all moneys. Such resolution or such trust351
416	416		indenture may also provide that any project shall be constructed and paid for under the352
417	417		supervision and approval of consulting engineers or architects employed or designated by the353
418	418		authority, and satisfactory to the original purchasers of the bonds issued therefor, and may354
419	419		also require that the security given by contractors and by any depository of the proceeds of355
420	420		the bonds or revenues or other moneys be satisfactory to such purchasers, and may also356
421	421		contain provisions concerning the conditions, if any, upon which additional revenue bonds357
422	422		may be issued. It shall be lawful for any bank or trust company incorporated under the laws358
423	423		of this state to act as such depository and to furnish such indemnifying bonds or pledge such359
424	424		securities as may be required by the authority. Such trust indenture may set forth the rights360
425	425		and remedies of the bondholders and of the trustee and may restrict the individual right of361
426	426		action of bondholders as is customary in trust indentures securing bonds and debentures of362
427	427		corporations. Such trust indenture may contain such other provisions as the authority may363
428	428		deem reasonable and proper for the security of the bondholders. All expenses incurred in364
429	429		carrying out such trust indenture may be treated as a part of the cost of maintenance,365
430	430		operation, and repair of the project affected by such indenture.366
431	431		SECTION 16.367
432	432		To whom proceeds of bonds shall be paid.368
433	433		In the resolution providing for the issuance of revenue bonds or in the trust indenture, the369
434	434		authority shall provide for the payment of the proceeds of the sale of the bonds to any officer370
435	435		or person who, or any agency, bank, or trust company which, shall act as trustee of such371
436	436		funds and shall hold and apply the same to the purposes of this Act, subject to such372
437		-	regulations as this Act and such resolution or trust indenture may provide.373 23 LC 46 0646~~/AP~~
	437	+	regulations as this Act and such resolution or trust indenture may provide.373 23 LC 46 0646
438	438		H. B. 784
439	439		- 17 -
440	440		SECTION 17.
441	441		374
442	442		Sinking fund.375
443	443		The revenues, fees, tolls, and earnings derived from any particular project or projects,376
444	444		regardless as to whether or not such revenues, fees, tolls, and earnings were produced by a377
445	445		particular project for which bonds have been issued, unless otherwise pledged and allocated,378
446	446		may be pledged and allocated by the authority to the payment of the principal and interest379
447	447		on revenue bonds of the authority as the resolution authorizing the issuance of the bonds or380
448	448		the trust instrument may provide. Such funds so pledged from whatever source received,381
449	449		including funds received from one or more or all sources, shall be set aside at regular382
450	450		intervals as may be provided in the resolution or trust indenture into a sinking fund which383
451	451		shall be pledged to and charged with the payment of:384
452	452		(1) The interest upon such revenue bonds as such interest shall fall due;385
453	453		(2) The principal of the bonds as the same shall fall due;386
454	454		(3) The necessary charges of paying agents for paying principal and interest and other387
455	455		investment charges;388
456	456		(4) Any premium upon bonds retired by call or purchase as provided for in this Act; and389
457	457		(5) Any investment fees or charges.390
458	458		The use and disposition of such sinking fund shall be subject to such regulations as may be391
459	459		provided in the resolution authorizing the issuance of the revenue bonds or in the trust392
460	460		indenture; provided, however, that except as may otherwise be provided in such resolution393
461	461		or trust indenture, such sinking fund shall be maintained as a trust account for the benefit of394
462	462		all revenue bonds without distinction or priority of one over another. Subject to the395
463	463		provisions of the resolution authorizing the issuance of the bonds or the trust indenture, any396
464	464		surplus moneys in the sinking fund may be applied to the purchase or redemption of bonds397
465	465		and any such bonds so purchased or redeemed shall be canceled and shall not again be398
466		-	issued.399 23 LC 46 0646~~/AP~~
	466	+	issued.399 23 LC 46 0646
467	467		H. B. 784
468	468		- 18 -
469	469		SECTION 18.
470	470		400
471	471		Remedies of bondholders.401
472	472		Any holder of revenue bonds issued under the provisions of this Act or any of the coupons402
473	473		appertaining thereto and the trustee under the trust indenture, if any, except to the extent the403
474	474		rights given in this Act may be restricted by resolution passed before the issuance of the404
475	475		bonds or by the trust indenture, may, either at law or in equity, by suit, action, mandamus,405
476	476		or other proceedings, protect and enforce any and all rights under the laws of this state or406
477	477		granted under this Act or under such resolution or trust indenture and may enforce and407
478	478		compel performance of all duties required by this Act or by such resolution or trust indenture408
479	479		to be performed by the authority or any officer thereof, including the fixing, charging, and409
480	480		collecting of revenues, fees, tolls, and other charges for the use of the facilities and services410
481	481		furnished.411
482	482		SECTION 19.412
483	483		Refunding bonds.413
484	484		The authority shall have the power to provide by resolution for the issuance of bonds of the414
485	485		authority for the purpose of funding or refunding any revenue bonds issued under the415
486	486		provisions of this Act and then outstanding, together with accrued interest thereon and416
487	487		premium, if any. The issuance of such funding or refunding bonds, the maturities and all417
488	488		other details thereof, the rights of the holders thereof, and the duties of the authority in418
489		-	respect to the same shall be governed by the applicable provisions of this Act.419 23 LC 46 0646~~/AP~~
	489	+	respect to the same shall be governed by the applicable provisions of this Act.419 23 LC 46 0646
490	490		H. B. 784
491	491		- 19 -
492	492		SECTION 20.
493	493		420
494	494		Validation.421
495	495		The petition for validation of all revenue bonds of the authority shall be brought against the422
496	496		authority, and any contracting party whose obligation is pledged as security for the payment423
497	497		of the bonds sought to be validated, as defendants, and the defendants shall be required to424
498	498		show cause, if any exists, as to why such contract or contracts and the terms and conditions425
499	499		thereof shall not be adjudicated to be in all respects valid and binding upon such contracting426
500	500		parties. It shall be incumbent upon such defendants to defend against adjudication of the427
501	501		validity and binding effect of such contract or contracts or be forever bound thereby. Notice428
502	502		of such proceedings shall be included in the notice of the validation hearing required to be429
503	503		issued and published by the clerk of the Superior Court of Henry County in which court such430
504	504		validation proceedings shall be initiated.431
505	505		SECTION 21.432
506	506		Venue and jurisdiction.433
507	507		Any action to protect or enforce any rights under the provisions of this Act or any suit or434
508	508		action against the authority shall be brought in the Superior Court of Henry County, Georgia.435
509	509		Any action pertaining to validation of any bonds issued under the provisions of this Act shall436
510	510		likewise be brought in such court which shall have exclusive, original jurisdiction of such437
511		-	actions.438 23 LC 46 0646~~/AP~~
	511	+	actions.438 23 LC 46 0646
512	512		H. B. 784
513	513		- 20 -
514	514		SECTION 22.
515	515		439
516	516		Interest of bondholders protected.440
517	517		While any of the bonds issued by the authority remain outstanding, the powers, duties, or441
518	518		existence of the authority or its officers, employees, or agents shall not be diminished or442
519	519		impaired in any manner that will affect adversely the interests and rights of the holders of443
520	520		such bonds. No other entity, department, agency, or authority shall be created which will444
521	521		compete with the authority to such an extent as to affect adversely the interest and rights of445
522	522		the holders of such bonds, nor shall the state itself so compete with the authority. The446
523	523		provisions of this Act shall be for the benefit of the authority and the holders of any such447
524	524		bonds, and, upon the issuance of bonds under the provisions hereof, shall constitute a448
525	525		contract with the holders of such bonds.449
526	526		SECTION 23.450
527	527		Moneys received considered trust funds.451
528	528		All moneys received pursuant to this Act, whether as proceeds from the sale of revenue452
529	529		bonds, as grants or other contributions, or as revenue, income, fees, and earnings, shall be453
530	530		deemed to be trust funds to be held and applied solely as provided for in this Act.454
531	531		SECTION 24.455
532	532		Purpose of the authority.456
533	533		Without limiting the generality of any provision of this Act, the general purpose of the457
534	534		authority is declared to be that of acquiring, constructing, equipping, maintaining, improving,458
535	535		and operating an airport and the usual facilities related thereto; acquiring parking facilities459
536		-	and parking areas and acquiring the necessary property therefor, both real and personal;460 23 LC 46 0646~~/AP~~
	536	+	and parking areas and acquiring the necessary property therefor, both real and personal;460 23 LC 46 0646
537	537		H. B. 784
538	538		- 21 -
539	539		leasing or selling any or all of such facilities, including real property; and doing any and all
540	540		461
541	541		things deemed by the authority to be necessary, convenient, or desirable for and incident to462
542	542		the efficient and proper development and operation of such types of undertaking.463
543	543		SECTION 25.464
544	544		Rates, charges, and revenues; use.465
545	545		The authority shall have the power to prescribe and fix rates and to revise the same from time466
546	546		to time and to collect fees, tolls, and charges for the services, facilities, and commodities467
547	547		furnished and, in anticipation of the collection of the revenues of such undertaking or project,468
548	548		to issue revenue bonds as herein provided to finance, in whole or in part, the cost of the469
549	549		acquisition, construction, reconstruction, improvement, betterment, or extension of any470
550	550		project and to pledge to the punctual payment of such bonds and interest thereon, all or any471
551	551		part of the revenues of such undertaking or project, including the revenues of improvements,472
552	552		betterments, or extensions thereto thereafter made.473
553	553		SECTION 26.474
554	554		Rules and regulations for operation of projects.475
555	555		It shall be the duty of the authority to prescribe rules and regulations for the operation of the476
556	556		project or projects constructed or acquired under the provisions of this Act.477
557	557		SECTION 27.478
558	558		Tort immunity.479
559	559		The authority shall have the same immunity and exemption from liability for torts and480
560		-	negligence as a county. The officers, agents, and employees of the authority, when in the481 23 LC 46 0646~~/AP~~
	560	+	negligence as a county. The officers, agents, and employees of the authority, when in the481 23 LC 46 0646
561	561		H. B. 784
562	562		- 22 -
563	563		performance of the work of the authority, shall have the same immunity and exemption from
564	564		482
565	565		liability for torts and negligence as the officers, agents, and employees of a county when in483
566	566		the performance of their public duties or work of the county.484
567	567		SECTION 28.485
568	568		Public property; tax status.486
569	569		(a) It is declared that all property of the authority held pursuant to the terms of this Act,487
570	570		whether real or personal, tangible or intangible, and of any kind or nature, and any income488
571	571		or revenue therefrom, is held for an essential public and governmental purpose and all such489
572	572		property is deemed to be public property.490
573	573		(b) The authority shall enjoy such tax exemptions as may be provided by general law. The491
574	574		exemption from taxation provided for in this subsection shall not extend to tenants or lessees492
575	575		of the authority and shall not include exemptions from sales and use taxes on property493
576	576		purchased by the authority or for use by the authority unless otherwise authorized by general494
577	577		law.495
578	578		SECTION 29.496
579	579		Lease agreement between the governing authority and the Henry County Airport Authority.497
580	580		The governing authority, as lessor, and the authority, as lessee, shall enter into a 30 year lease498
581	581		agreement for the occupancy of the Henry County Airport. Such agreement shall allow the499
582	582		authority an option to renew such agreement at the end of the 30 year lease for an500
583	583		additional 20 years.501
584	584		SECTION 30.502
585		-	Powers declared supplemental and additional.503 23 LC 46 0646~~/AP~~
	585	+	Powers declared supplemental and additional.503 23 LC 46 0646
586	586		H. B. 784
587	587		- 23 -
588	588		This Act shall be regarded as supplemental and additional to powers conferred by other laws,
589	589		504
590	590		and shall not be regarded as in derogation of any powers now existing.505
591	591		SECTION 31.506
592	592		Effect on other governments.507
593	593		This Act shall not and does not in any way take from Henry County the authority to own or508
594	594		operate airports, projects, or to issue revenue bonds as is provided by Article 3 of Chapter509
595	595		82 of Title 36 of the O.C.G.A., the "Revenue Bond Law."510
596	596		SECTION 32.511
597	597		Liberal construction of Act.512
598	598		This Act being for the welfare of various political subdivisions of the state and its inhabitants513
599	599		shall be liberally construed to effect the purposes of this Act.514
600	600		SECTION 33.515
601	601		Repealer.516
602	602		All laws and parts of laws in conflict with this Act are repealed.517