23 LC 46 0646/AP
H. B. 784
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House Bill 784 (AS PASSED HOUSE AND SENATE)
By: Representatives Holly of the 116
th
, Crowe of the 118
th
, Douglas of the 78
th
, Mathiak of
the 74
th
, Lewis-Ward of the 115
th
, and others
A BILL TO BE ENTITLED
AN ACT
To create the Henry County Airport Authority; to provide for a short title and legislative
1
findings; to provide for the membership and the appointment and removal of members of the2
authority and their terms of office, qualifications, duties, powers, and compensation; to3
provide for vacancies, organization, meetings, and expenses; to prohibit authority employees4
and members from having certain interests; to provide for definitions; to confer powers and5
impose duties on the authority; to provide for condemnation of property necessary for airport6
purposes; to provide for revenue bonds and their form, signatures thereon, negotiability, sale,7
and use of proceeds from such sales; to provide for interim documents and for lost or8
mutilated documents; to provide for conditions for issuance; to prohibit the pledge of credit9
for the payment of bonds; to provide for trust indentures and sinking fund; to provide for10
payment of bond proceeds; to provide for bondholder remedies and protection; to provide11
for refunding bonds; to provide for bond validation; to provide for venue and jurisdiction;12
to provide for trust funds; to provide for authority purpose; to provide for charges; to provide13
for rules and regulations; to provide for tort immunity; to provide for tax status; to provide14
for a lease agreement; to provide for supplemental powers; to provide for effect on other15
governments; to provide for liberal construction; to repeal conflicting laws; and for other16
purposes.17 23 LC 46 0646/AP
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BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
18
SECTION 1.19
Short title.20
This Act shall be known and may be cited as the "Henry County Airport Authority Act."21
SECTION 2.22
Legislative findings.23
The General Assembly determines and finds that there is a present and projected growth in24
commercial and private air traffic in the Henry County area. There is the need for adequate25
airport facilities to safely and efficiently serve the air transportation needs of this state and26
Henry County; the need to eliminate airport hazards; and the need to raise capital for the27
establishment, operation, and maintenance of present and future airport facilities. The28
General Assembly further determines and finds that the establishment of an authority is29
necessary and essential to ensure the welfare, safety, and convenience of citizens of the30
region and the entire state and to ensure the proper economic development of the region and31
the entire state.32
SECTION 3.33
Henry County Airport Authority.34
(a)(1) There is created a body corporate and politic, to be known as the "Henry County35
Airport Authority," which shall be deemed to be a political subdivision of the State of36
Georgia and a public corporation, and by that name, style, and title such body may37 23 LC 46 0646/AP
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contract and be contracted with, sue and be sued, implead and be impleaded, and bring
38
and defend actions in all courts. The authority shall have perpetual existence.39
(2) Henry County shall retain ownership of any airport which is or shall be operated by40
the authority.41
(b)(1) The authority shall consist of five members who shall serve without pay. At least42
four of the five members of the authority shall reside in Henry County. One authority43
member shall be appointed by the governing authority of Henry County from one or more44
nominations made by the representatives in the Henry County delegation. One authority45
member shall be appointed by the governing authority of Henry County from one or more46
nominations made by the senators in the Henry County delegation. The Henry County47
legislative delegation shall be composed of all senators and representatives in the General48
Assembly whose districts are wholly or partially in Henry County. The governing49
authority of Henry County shall appoint two authority members and such appointments50
shall not require nominations from outside entities. In the event of a tie vote for an51
appointment to the authority, the vote of the chairperson of the governing authority shall52
be controlling.53
(2) The chairperson of the governing authority of Henry County shall appoint one54
authority member and such appointment shall not require a nomination from an outside55
entity. Such member shall be the chairperson of the authority.56
(3) The power to purchase and contract on behalf of the authority, including but not57
limited to with regard to legal services, shall vest in the chairperson of such authority.58
Such purchases and contracts shall be voted on by a quorum of three or more of the59
members of such authority before such purchases or contracts are made or entered into.60
Any recommendation by the chairperson to the other members of the authority with61
regard to such purchases or contracts may be denied but only by the vote of four members62
of the authority.63 23 LC 46 0646/AP
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(4) The terms of office of such members shall be for four years and until their respective
64
successors are appointed and qualified, except that the Henry County Board of65
Commissioners in making the initial appointments or in filling vacancies may vary the66
initial terms of members or the terms of persons appointed to fill vacancies in such67
manner so that the terms of members shall be staggered.68
(5) Any member of the authority may be selected and appointed to succeed himself or69
herself. After such appointment, the members of the authority shall enter upon their70
duties. Any vacancy on the authority shall be filled in the same manner as was the71
original appointment of the member whose term of membership resulted in such vacancy,72
and the person so selected and appointed shall serve for the remainder of the unexpired73
term. The members of the authority shall be reimbursed for all actual expenses incurred74
in the performance of their duties out of funds of the authority.75
(6) Notwithstanding the terms of office provided for in paragraph (2) of this subsection,76
members shall serve at the pleasure of the Board of Commissioners. Members of the77
authority may be removed by a two-thirds' majority vote of the Board of Commissioners,78
and such removal can be made with or without cause.79
(7) The authority shall make rules and regulations for its own governance.80
(c) To be eligible for appointment as a member of the authority, a person shall be at least 2181
years of age and a resident of Henry County prior to the date of such person's appointment82
and shall not have been convicted of a felony. Notwithstanding this residency requirement,83
one of the two appointments by the governing authority that does not require a nomination84
from an outside entity may be of a person who does not reside in Henry County.85
(d) At the same time, the members of the authority shall elect one of their number as vice86
chairperson and one of their number as secretary. The members of the authority may also87
elect one of their number as treasurer; the secretary may also serve as treasurer. Each such88
elected officer shall serve for a period of two years and until their successor is duly elected89
and qualified. The chairperson of the authority shall be entitled to vote upon any issue,90 23 LC 46 0646/AP
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motion, or resolution. Notwithstanding any other provisions of this subsection to the
91
contrary, the initial chairperson, vice chairperson, secretary, and treasurer appointed under92
this Act shall be appointed at the first meeting of the full membership of the authority and93
such officers shall serve until the first meeting of the authority in April, 2024.94
(e) A majority of the members of the authority shall constitute a quorum. No vacancy on95
the authority shall impair the right of the quorum to exercise all of the rights and perform all96
of the duties of the authority.97
(f) A vacancy on the authority shall exist in the office of any member of the authority who98
is convicted of a felony or who enters a plea of nolo contendere thereto; who is convicted of99
a crime involving moral turpitude or who enters a plea of nolo contendere thereto; who100
moves such person's residence from the county; who is convicted of any act of misfeasance,101
malfeasance, or nonfeasance of such person's duties as a member of the authority; or who102
fails to attend any regular or special meeting of the authority for a period of three meetings103
without an excuse approved by a resolution of the authority.104
(g) All meetings of the authority, regular or special, shall be open to the public and shall be105
conducted pursuant to Chapter 14 of Title 50 of the O.C.G.A.106
(h) Any member of the authority who has a conflict of interest between his or her107
membership on the authority and his or her personal or professional business interest shall108
disclose such conflict to the authority and any sale, lease, or purchase of any property or109
contract that may be subject to such conflict must be approved by a two-thirds' vote of the110
authority. The authority may adopt additional conflict-of-interest regulations governing its111
members and employees.112 23 LC 46 0646/AP
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SECTION 4.
113
Definitions.114
(a) As used in this Act, the term:115
(1) "Airport" means any area of land or structure which is or has been used or which the116
authority may plan to use for the landing and taking off of commercial, private, and117
military aircraft, including helicopters; all buildings, equipment, facilities, or other118
property and improvements of any kind or nature located within the bounds of any such119
area of land or structure which are or have been used or which the authority may plan to120
use for fixed base operator or terminal facilities; all facilities of any type for the121
accommodation of passengers, maintenance, servicing, housing, parking, and operation122
of aircraft, business offices and facilities of private businesses and governmental123
agencies, and the parking of vehicles; and all other activities which are or have been124
carried on or which may be necessary or convenient in conjunction with the landing and125
taking off of commercial, private, and military aircraft including all lands currently126
owned by Henry County currently in use for airport purposes or which may be later127
obtained for airport purposes.128
(2) "Airport hazard" means any structure, terrain, or object of natural growth which129
obstructs or impedes the airspace required for the flight, landing, or taking off of aircraft130
to or from an airport, or any other thing that is hazardous to the flight, landing, or taking131
off of aircraft to or from an airport.132
(3) "Authority" means the Henry County Airport Authority created by this Act.133
(4) "Cost of the project" means and includes the cost of construction; the cost of all134
lands, properties, rights, easements, and franchises acquired; the cost of all machinery and135
equipment, financing charges, interest prior to and during construction and for one year136
after completion of construction; the cost of engineering, architectural, fiscal agents, and137
legal expenses, and of plans and specifications, and other expenses necessary or incident138 23 LC 46 0646/AP
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to determining the feasibility or practicability of the project, administrative expenses, and
139
such other expenses as may be necessary or incident to the financing provided for in this140
Act; the cost of the acquisition or construction of any project; the cost of placing any141
project in operation; and the cost of condemnation of property necessary for such142
construction and operation. Any obligation or expense incurred for any of the foregoing143
purposes shall be regarded as a part of the cost of the project and may be paid or144
reimbursed as such out of the proceeds of revenue bonds issued under the provisions of145
this Act for such project.146
(5) "Project" means and includes the acquisition, construction, equipping, maintenance,147
and operation of an airport and the usual facilities related thereto.148
(6) "Revenue bonds" or "bonds" means revenue bonds as defined and provided for in149
Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond Law," and such150
type of obligations that may be issued by the authority as provided for under such151
Revenue Bond Law and any amendments thereto. Such term shall also mean obligations152
of the authority, the issuance of which are specifically provided for in this Act.153
(b) Any project shall be deemed self-liquidating if, in the judgment of the authority, the154
revenues and earnings to be derived by the authority therefrom and all facilities used in155
connection therewith will be sufficient to pay the costs of operating, maintaining, repairing,156
improving, and extending the project and to pay the principal of and interest on the revenue157
bonds which may be issued to finance, in whole or in part, the cost of such project or158
projects.159
SECTION 5.160
Powers.161
The authority shall have the power:162
(1) To have a seal and alter the same at its pleasure;163 23 LC 46 0646/AP
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(2) To acquire by purchase, lease, or otherwise and to hold, lease, and dispose of real and
164
personal property of every kind and character for its corporate purposes and to plan,165
acquire, establish, develop, construct, enlarge, improve, maintain, equip, and lease all166
airport property, projects, or facilities which shall come under the control of the authority167
under the provisions of this Act or which it may acquire or plan to acquire; to regulate,168
protect, and police such airport properties, projects, or facilities and all related activities169
and facilities; to enter into any contracts, leases, or other agreements, promulgate any170
orders, set any tolls, fees, or other charges for the use of property or services of the171
authority and collect and use same as necessary to operate the airport property, projects,172
or facilities under control of the authority; and to accomplish any purposes of this Act and173
make any purchases or sales necessary for such purposes;174
(3)(A) To acquire in its own name by purchase, on such terms and conditions and in175
such manner as it may deem proper, real property or rights or easements therein, or176
franchises necessary or convenient for its corporate purposes, and to use the same so177
long as its corporate existence shall continue; to lease or make contracts with respect178
to the use of, or dispose of the same in any manner it deems to be in the best interest of179
the authority.180
(B) No property shall be acquired under the provisions of this Act upon which any lien181
or other encumbrance exists, unless at the time such property is so acquired a sufficient182
sum of money be deposited in trust to pay and redeem the fair value of such lien or183
encumbrance; provided, however, that the provisions of this subparagraph shall not184
apply to any property acquired or transferred from the United States of America, the185
State of Georgia, or Henry County.186
(C) Nothing provided for in this paragraph shall obligate Henry County to transfer any187
property to the authority without the approval of the Board of Commissioners;188
(4) To request that Henry County exercise the power of eminent domain to acquire any189
private real property or any rights or interests therein, including any easements, as190 23 LC 46 0646/AP
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necessary or convenient for the accomplishment of the purposes of this Act, including the
191
elimination of airport hazards, in accordance with the provisions of any and all existing192
laws applicable to the exercise of such power, including, without limitation, the authority193
provided for in Code Section 6-3-22 of the O.C.G.A. The authority shall pay for any194
property condemned under this power from funds of the authority. The court having195
jurisdiction of the suit, action, or proceedings may enter such orders regarding the196
payment for such property or interest therein as may be fair and just to the county, to the197
authority, and to the owners of the property being condemned;198
(5) To appoint, select, and employ officers, agents, and employees, including an airport199
manager, operations staff, engineering, architectural, and construction experts, fiscal200
agents, and attorneys, and to fix their respective compensations;201
(6) To make contracts and leases and to execute all instruments necessary or convenient,202
including contracts for construction of projects and leases of projects or contracts with203
respect to the use of projects which it causes to be constructed, erected, or acquired. Any204
and all persons, firms, and corporations and any and all political subdivisions,205
departments, institutions, or agencies of the state are authorized to enter into contracts,206
leases, or agreements with the authority upon such terms and for such purposes as they207
deem advisable; and, without limiting the generality of the foregoing, authority is208
specifically granted to municipal corporations, counties, and other political subdivisions209
of this state and to the authority to enter into contracts, lease agreements, or210
other undertakings with each other relating to projects of the authority for a term not to211
exceed 50 years;212
(7) To construct, erect, acquire, own, repair, remodel, maintain, add to, extend, improve,213
equip, operate, and manage projects, as defined in this Act, the cost of any such project214
to be paid in whole or in part from the proceeds of revenue bonds of the authority or from215
such proceeds and any grant or contribution from the United States of America or any216 23 LC 46 0646/AP
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agency or instrumentality thereof or from the State of Georgia or any agency or
217
instrumentality thereof or from Henry County;218
(8) To accept loans and grants of money or materials or property of any kind from the219
United States of America or any agency or instrumentality thereof upon such terms and220
conditions as the United States of America or such agency or instrumentality may221
require;222
(9) To accept loans and grants of money or materials or property of any kind from the223
State of Georgia or any agency or instrumentality or political subdivision thereof upon224
such terms and conditions as the State of Georgia or such agency or instrumentality or225
political subdivision may require;226
(10) To borrow money for any of its corporate purposes and to issue negotiable revenue227
bonds payable solely from funds pledged for that purpose and to provide for the payment228
of the same and for the rights of the holders thereof;229
(11) To sell, lease, or otherwise dispose of surplus personal property and to sell, lease,230
or otherwise dispose of land and any improvements thereon acquired by the authority231
pursuant to law that the authority may determine is no longer required to accomplish the232
purposes of this Act, including property that is suitable for industrial development. Any233
such property may be sold, leased, or otherwise disposed of upon such terms and234
conditions as may be provided by resolution of the authority. The proceeds of any such235
sale may be used by the authority to accomplish any of the purposes of this Act;236
(12) To determine what usage may be made of airport properties, projects, or facilities237
subject to the control of the authority, including the power to determine what classes of238
aircraft may use particular airports in order to derive the maximum public benefit from239
all airport properties, projects, or facilities;240
(13) To exercise each and every power that any county could exercise, under laws241
existing at the time this Act becomes law, over airports owned or operated by any county242
which subsequently comes under the control of the authority under the provisions of this243 23 LC 46 0646/AP
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Act just as if the authority were the county that previously owned or operated such airport
244
and with regard to any future airport or airports not existing at the time this Act becomes245
law. The authority may exercise each and every power that a county could have246
exercised under this Act had the authority acquired the ownership or operation of any247
such airport or airports as if the authority were a county;248
(14) To enter into contracts, leases, or other agreements with fixed base operators,249
management companies, federally certificated air carriers, other commercial air carriers,250
and other commercial users of the authority's airports for the use of such airports under251
such terms and conditions as the authority deems appropriate and for such charges,252
rentals, and fees as the authority deems appropriate;253
(15) To enter into such agreements with any county presently operating airports of which254
the authority may subsequently assume control with respect to the manner of transfer of255
airport employees from any county to the authority as the authority deems necessary and256
appropriate;257
(16) To exercise any power usually possessed by private corporations performing similar258
functions, including the power to obtain long- or short-term loans, to give deeds to secure259
debt on real property, security agreements on personal property, or any other security260
agreements, and approve, execute, and deliver appropriate evidence of such indebtedness,261
provided no such power is in conflict with the Constitution or general laws of this state;262
and263
(17) To do all things necessary or convenient to carry out the powers expressly given in264
this Act.265 23 LC 46 0646/AP
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SECTION 6.
266
Revenue bonds.267
The authority, or any authority or body which has or which may in the future succeed to the268
powers, duties, and liabilities vested in the authority, shall have the power to provide by269
resolution for the issuance of negotiable revenue bonds of the authority for the purpose of270
paying all or any part of the cost as herein defined of any one or more projects. The principal271
of and interest on such revenue bonds shall be payable solely from the sinking fund provided272
for in this Act for such payment. The bonds of each issue shall be dated; shall bear interest273
at such rate or rates per annum, payable at such time or times; shall mature at such time or274
times not exceeding 40 years from their date or dates; shall be payable in such medium of275
payment as to both principal and interest as may be determined by the authority; and may be276
redeemable before maturity, at the option of the authority, at such price or prices and under277
such terms and conditions as may be fixed by the authority in the resolution for the issuance278
of bonds.279
SECTION 7.280
Revenue bonds; form; denomination; registration; place of payment.281
The authority shall determine the form of the bonds, including any interest coupons to be282
attached thereto, and shall fix the denomination or denominations of the bonds and the place283
or places of payment of principal and interest thereon, which may be at any bank or trust284
company inside or outside the state. The bonds may be issued in coupon or registered form,285
or both, as the authority may determine, and provision may be made for the registration of286
any coupon bond as to principal alone and also as to both principal and interest.287 23 LC 46 0646/AP
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SECTION 8.
288
Revenue bonds; signatures; seal.289
In case any officer whose signature shall appear on any bonds or whose facsimile signature290
shall appear on any coupon shall cease to be such officer before the delivery of such bonds,291
such signature shall nevertheless be valid and sufficient for all purposes the same as if such292
officer had remained in office until such delivery. All such bonds shall be signed by the293
chairperson of the authority and the official seal of the authority shall be affixed thereto and294
attested by the secretary of the authority and any coupons attached thereto shall bear the295
facsimile signatures of the chairperson and the secretary of the authority. Any coupon may296
bear the facsimile signatures of such persons and any bond may be signed, sealed, and297
attested on behalf of the authority by such persons as at the actual time of the execution of298
such bonds shall be duly authorized or hold the proper office, although at the date of such299
bonds such person may not have been so authorized or shall not have held such office.300
SECTION 9.301
Revenue bonds; negotiability; exemption from taxation.302
All revenue bonds issued under the provisions of this Act shall have and are declared to have303
all the qualities and incidents of negotiable instruments under the laws of this state. Such304
bonds, their transfer, and the income therefrom shall be exempt from all taxation within this305
state.306 23 LC 46 0646/AP
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SECTION 10.
307
Revenue bonds; sale; price; proceeds. 308
The authority may sell such bonds in such manner and for such price as it may determine to309
be in the best interest of the authority. The proceeds derived from the sale of such bonds310
shall be used solely for the purpose or purposes provided in the resolutions and proceedings311
authorizing the issuance of such bonds.312
SECTION 11.313
Revenue bonds; interim receipts and certificates or temporary bonds. 314
Prior to the preparation of any definitive bonds the authority may, under like restrictions,315
issue interim receipts, interim certificates, or temporary bonds, with or without coupons,316
exchangeable for definitive bonds upon the issuance of the latter.317
SECTION 12.318
Revenue bonds; replacement of lost or mutilated bonds.319
The authority may provide for the replacement of any bonds or coupons which shall become320
mutilated or be destroyed or lost.321
SECTION 13.322
Revenue bonds; conditions precedent to issuance.323
Such revenue bonds may be issued without any other proceedings or the happening of any324
other conditions or things other than those proceedings, conditions, and things which are325
specified or required by this Act. In the discretion of the authority, revenue bonds of a single326 23 LC 46 0646/AP
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issue may be issued for the purpose of any particular project. Any resolution providing for
327
the issuance of revenue bonds under the provisions of this Act shall become effective328
immediately upon its passage and need not be published or posted. Any such resolution may329
be passed at any regular or special meeting of the authority by a majority of its members.330
SECTION 14.331
Credit not pledged.332
Revenue bonds issued under the provisions of this Act shall not be deemed to constitute a333
debt of the State of Georgia or Henry County nor a pledge of the faith and credit of such state334
or county; but such bonds shall be payable solely from the sinking fund provided for in this335
Act and the issuance of such revenue bonds shall not directly, indirectly, or contingently336
obligate such state or county to levy or to pledge any form of taxation whatever therefor or337
to make any appropriation for their payment. All such bonds shall contain recitals on their338
face covering substantially the provisions of this section.339
SECTION 15.340
Trust indenture as security.341
In the discretion of the authority, any issuance of revenue bonds may be secured by a trust342
indenture by and between the authority and a corporate trustee, which may be any trust343
company or bank having the powers of a trust company inside or outside the state. Such trust344
indenture may pledge or assign fees, tolls, revenues, and earnings to be received by the345
authority. Either the resolution providing for the issuance of revenue bonds or such trust346
indenture may contain such provisions for protecting and enforcing the rights and remedies347
of the bondholders as may be reasonable and proper and not in violation of law, including348
covenants setting forth the duties of the authority in relation to the acquisition of property;349 23 LC 46 0646/AP
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the construction of the project; the maintenance, operation, repair, and insuring of the project;
350
and the custody, safeguarding, and application of all moneys. Such resolution or such trust351
indenture may also provide that any project shall be constructed and paid for under the352
supervision and approval of consulting engineers or architects employed or designated by the353
authority, and satisfactory to the original purchasers of the bonds issued therefor, and may354
also require that the security given by contractors and by any depository of the proceeds of355
the bonds or revenues or other moneys be satisfactory to such purchasers, and may also356
contain provisions concerning the conditions, if any, upon which additional revenue bonds357
may be issued. It shall be lawful for any bank or trust company incorporated under the laws358
of this state to act as such depository and to furnish such indemnifying bonds or pledge such359
securities as may be required by the authority. Such trust indenture may set forth the rights360
and remedies of the bondholders and of the trustee and may restrict the individual right of361
action of bondholders as is customary in trust indentures securing bonds and debentures of362
corporations. Such trust indenture may contain such other provisions as the authority may363
deem reasonable and proper for the security of the bondholders. All expenses incurred in364
carrying out such trust indenture may be treated as a part of the cost of maintenance,365
operation, and repair of the project affected by such indenture.366
SECTION 16.367
To whom proceeds of bonds shall be paid.368
In the resolution providing for the issuance of revenue bonds or in the trust indenture, the369
authority shall provide for the payment of the proceeds of the sale of the bonds to any officer370
or person who, or any agency, bank, or trust company which, shall act as trustee of such371
funds and shall hold and apply the same to the purposes of this Act, subject to such372
regulations as this Act and such resolution or trust indenture may provide.373 23 LC 46 0646/AP
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SECTION 17.
374
Sinking fund.375
The revenues, fees, tolls, and earnings derived from any particular project or projects,376
regardless as to whether or not such revenues, fees, tolls, and earnings were produced by a377
particular project for which bonds have been issued, unless otherwise pledged and allocated,378
may be pledged and allocated by the authority to the payment of the principal and interest379
on revenue bonds of the authority as the resolution authorizing the issuance of the bonds or380
the trust instrument may provide. Such funds so pledged from whatever source received,381
including funds received from one or more or all sources, shall be set aside at regular382
intervals as may be provided in the resolution or trust indenture into a sinking fund which383
shall be pledged to and charged with the payment of:384
(1) The interest upon such revenue bonds as such interest shall fall due;385
(2) The principal of the bonds as the same shall fall due;386
(3) The necessary charges of paying agents for paying principal and interest and other387
investment charges;388
(4) Any premium upon bonds retired by call or purchase as provided for in this Act; and389
(5) Any investment fees or charges.390
The use and disposition of such sinking fund shall be subject to such regulations as may be391
provided in the resolution authorizing the issuance of the revenue bonds or in the trust392
indenture; provided, however, that except as may otherwise be provided in such resolution393
or trust indenture, such sinking fund shall be maintained as a trust account for the benefit of394
all revenue bonds without distinction or priority of one over another. Subject to the395
provisions of the resolution authorizing the issuance of the bonds or the trust indenture, any396
surplus moneys in the sinking fund may be applied to the purchase or redemption of bonds397
and any such bonds so purchased or redeemed shall be canceled and shall not again be398
issued.399 23 LC 46 0646/AP
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SECTION 18.
400
Remedies of bondholders.401
Any holder of revenue bonds issued under the provisions of this Act or any of the coupons402
appertaining thereto and the trustee under the trust indenture, if any, except to the extent the403
rights given in this Act may be restricted by resolution passed before the issuance of the404
bonds or by the trust indenture, may, either at law or in equity, by suit, action, mandamus,405
or other proceedings, protect and enforce any and all rights under the laws of this state or406
granted under this Act or under such resolution or trust indenture and may enforce and407
compel performance of all duties required by this Act or by such resolution or trust indenture408
to be performed by the authority or any officer thereof, including the fixing, charging, and409
collecting of revenues, fees, tolls, and other charges for the use of the facilities and services410
furnished.411
SECTION 19.412
Refunding bonds.413
The authority shall have the power to provide by resolution for the issuance of bonds of the414
authority for the purpose of funding or refunding any revenue bonds issued under the415
provisions of this Act and then outstanding, together with accrued interest thereon and416
premium, if any. The issuance of such funding or refunding bonds, the maturities and all417
other details thereof, the rights of the holders thereof, and the duties of the authority in418
respect to the same shall be governed by the applicable provisions of this Act.419 23 LC 46 0646/AP
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SECTION 20.
420
Validation.421
The petition for validation of all revenue bonds of the authority shall be brought against the422
authority, and any contracting party whose obligation is pledged as security for the payment423
of the bonds sought to be validated, as defendants, and the defendants shall be required to424
show cause, if any exists, as to why such contract or contracts and the terms and conditions425
thereof shall not be adjudicated to be in all respects valid and binding upon such contracting426
parties. It shall be incumbent upon such defendants to defend against adjudication of the427
validity and binding effect of such contract or contracts or be forever bound thereby. Notice428
of such proceedings shall be included in the notice of the validation hearing required to be429
issued and published by the clerk of the Superior Court of Henry County in which court such430
validation proceedings shall be initiated.431
SECTION 21.432
Venue and jurisdiction.433
Any action to protect or enforce any rights under the provisions of this Act or any suit or434
action against the authority shall be brought in the Superior Court of Henry County, Georgia.435
Any action pertaining to validation of any bonds issued under the provisions of this Act shall436
likewise be brought in such court which shall have exclusive, original jurisdiction of such437
actions.438 23 LC 46 0646/AP
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SECTION 22.
439
Interest of bondholders protected.440
While any of the bonds issued by the authority remain outstanding, the powers, duties, or441
existence of the authority or its officers, employees, or agents shall not be diminished or442
impaired in any manner that will affect adversely the interests and rights of the holders of443
such bonds. No other entity, department, agency, or authority shall be created which will444
compete with the authority to such an extent as to affect adversely the interest and rights of445
the holders of such bonds, nor shall the state itself so compete with the authority. The446
provisions of this Act shall be for the benefit of the authority and the holders of any such447
bonds, and, upon the issuance of bonds under the provisions hereof, shall constitute a448
contract with the holders of such bonds.449
SECTION 23.450
Moneys received considered trust funds.451
All moneys received pursuant to this Act, whether as proceeds from the sale of revenue452
bonds, as grants or other contributions, or as revenue, income, fees, and earnings, shall be453
deemed to be trust funds to be held and applied solely as provided for in this Act.454
SECTION 24.455
Purpose of the authority.456
Without limiting the generality of any provision of this Act, the general purpose of the457
authority is declared to be that of acquiring, constructing, equipping, maintaining, improving,458
and operating an airport and the usual facilities related thereto; acquiring parking facilities459
and parking areas and acquiring the necessary property therefor, both real and personal;460 23 LC 46 0646/AP
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leasing or selling any or all of such facilities, including real property; and doing any and all
461
things deemed by the authority to be necessary, convenient, or desirable for and incident to462
the efficient and proper development and operation of such types of undertaking.463
SECTION 25.464
Rates, charges, and revenues; use.465
The authority shall have the power to prescribe and fix rates and to revise the same from time466
to time and to collect fees, tolls, and charges for the services, facilities, and commodities467
furnished and, in anticipation of the collection of the revenues of such undertaking or project,468
to issue revenue bonds as herein provided to finance, in whole or in part, the cost of the469
acquisition, construction, reconstruction, improvement, betterment, or extension of any470
project and to pledge to the punctual payment of such bonds and interest thereon, all or any471
part of the revenues of such undertaking or project, including the revenues of improvements,472
betterments, or extensions thereto thereafter made.473
SECTION 26.474
Rules and regulations for operation of projects.475
It shall be the duty of the authority to prescribe rules and regulations for the operation of the476
project or projects constructed or acquired under the provisions of this Act.477
SECTION 27.478
Tort immunity.479
The authority shall have the same immunity and exemption from liability for torts and480
negligence as a county. The officers, agents, and employees of the authority, when in the481 23 LC 46 0646/AP
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performance of the work of the authority, shall have the same immunity and exemption from
482
liability for torts and negligence as the officers, agents, and employees of a county when in483
the performance of their public duties or work of the county.484
SECTION 28.485
Public property; tax status.486
(a) It is declared that all property of the authority held pursuant to the terms of this Act,487
whether real or personal, tangible or intangible, and of any kind or nature, and any income488
or revenue therefrom, is held for an essential public and governmental purpose and all such489
property is deemed to be public property.490
(b) The authority shall enjoy such tax exemptions as may be provided by general law. The491
exemption from taxation provided for in this subsection shall not extend to tenants or lessees492
of the authority and shall not include exemptions from sales and use taxes on property493
purchased by the authority or for use by the authority unless otherwise authorized by general494
law.495
SECTION 29.496
Lease agreement between the governing authority and the Henry County Airport Authority.497
The governing authority, as lessor, and the authority, as lessee, shall enter into a 30 year lease498
agreement for the occupancy of the Henry County Airport. Such agreement shall allow the499
authority an option to renew such agreement at the end of the 30 year lease for an500
additional 20 years.501
SECTION 30.502
Powers declared supplemental and additional.503 23 LC 46 0646/AP
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This Act shall be regarded as supplemental and additional to powers conferred by other laws,
504
and shall not be regarded as in derogation of any powers now existing.505
SECTION 31.506
Effect on other governments.507
This Act shall not and does not in any way take from Henry County the authority to own or508
operate airports, projects, or to issue revenue bonds as is provided by Article 3 of Chapter509
82 of Title 36 of the O.C.G.A., the "Revenue Bond Law."510
SECTION 32.511
Liberal construction of Act.512
This Act being for the welfare of various political subdivisions of the state and its inhabitants513
shall be liberally construed to effect the purposes of this Act.514
SECTION 33.515
Repealer.516
All laws and parts of laws in conflict with this Act are repealed.517