Georgia 2025-2026 Regular Session

Georgia House Bill HB356 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	25 LC 61 0059~~/AP~~
2		-	House Bill 356 ~~(AS PASSED HOUSE AND SENATE)~~
	1	+	25 LC 61 0059
	2	+	House Bill 356
3	3		By: Representative Tran of the 80
4	4		th
5	5
6	6		A BILL TO BE ENTITLED
7	7		AN ACT
8	8		To create the City of Doraville Building and Public Facilities Authority; to provide that the
9	9		1
10	10		authority is a body corporate and politic and an instrumentality of the State of Georgia; to2
11	11		authorize the authority to acquire, construct, equip, maintain, and operate certain projects,3
12	12		including buildings and facilities for use by the City of Doraville for its governmental,4
13	13		proprietary, and administrative functions; to provide for members of the authority and their5
14	14		terms, organization, and reimbursement; to provide for vacancies; to provide for definitions;6
15	15		to confer powers and impose duties on the authority; to provide for limitations to the7
16	16		authority; to authorize the authority to enter into contracts and leases pertaining to uses of8
17	17		such facilities, which contracts and leases may obligate the lessees to make payment for the9
18	18		use of the facilities for the term thereof and to pledge for that purpose money derived from10
19	19		taxation; to provide that no debt of the City of Doraville or the State of Georgia shall be11
20	20		incurred by the exercise of any of the powers granted; to authorize the issuance of revenue12
21	21		bonds of the authority payable from the revenues, rents, and earnings and other functions of13
22	22		the authority; to authorize the collecting and pledging of such revenues, rents, and earnings14
23	23		for the payment of such bonds; to authorize the adoption of resolutions and the execution of15
24	24		trust agreements and indentures to secure the payment of such bonds and to define the rights16
25	25		of the holders of such bonds; to provide for a sinking fund; to make the bonds of the17
26	26		authority exempt from taxation; to authorize the issuance of refunding bonds; to provide for18
27	27		H. B. 356
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	28	+	- 1 - 25 LC 61 0059
29	29		the validation of such bonds and to fix the venue for jurisdiction of actions relating to any
30	30		19
31	31		provision of this Act; to provide for immunity and exemption from liability for torts and20
32	32		negligence; to provide that the property of the authority shall not be subject to levy and sale;21
33	33		to provide that certain moneys are trust funds; to provide that this Act shall be liberally22
34	34		construed; to define the scope of the authority's operation; to provide for disposition of23
35	35		property upon dissolution of the authority; to provide for severability; to provide for a short24
36	36		title; to provide for related matters; to repeal conflicting laws; and for other purposes.25
37	37		BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:26
38	38		SECTION 1.27
39	39		Short title.28
40	40		This Act shall be known and may be cited as the "City of Doraville Building and Public29
41	41		Facilities Authority Act."30
42	42		SECTION 2.31
43	43		City of Doraville Building and Public Facilities Authority.32
44	44		There is created a public body corporate and politic to be known as the City of Doraville33
45	45		Building and Public Facilities Authority, which shall be an instrumentality and a public34
46	46		corporation of the State of Georgia, the purpose of which shall be to acquire, construct,35
47	47		equip, maintain, and operate certain projects for use by the City of Doraville for its36
48	48		governmental, proprietary, public, and administrative functions. The authority shall not be37
49	49		a state institution or a department or agency of the state, but shall be an instrumentality of the38
50	50		state, a mere creation of the state, being a distinct corporate entity and exempt from the39
51	51		provisions of Article 2 of Chapter 17 of Title 50 of the O.C.G.A., the "Georgia State40
52	52		H. B. 356
53		-	- 2 - 25 LC 61 0059~~/AP~~
	53	+	- 2 - 25 LC 61 0059
54	54		Financing and Investment Commission Act." The authority shall have its principal office in
55	55		41
56	56		the City of Doraville, and its legal situs or residence for the purposes of this Act shall be the42
57	57		City of Doraville.43
58	58		SECTION 3.44
59	59		Membership.45
60	60		The authority shall consist of five members who shall be eligible to succeed themselves and46
61	61		who shall be appointed by the City Council of the City of Doraville. No more than two47
62	62		members of the authority may be members of said city council. Any member of the authority48
63	63		who is a member of said city council shall serve for a term of office concurrent with such49
64	64		person's term of office as a member of said city council. Each member of the authority who50
65	65		is not a member of said city council shall serve for a term of office of three years, except that51
66	66		the initial terms of office of those members first appointed to the authority shall be specified52
67	67		at the time of appointment to be one, two, and, if no such member is a member of the city53
68	68		council, three years. After such initial terms, those members who are not members of said54
69	69		city council shall serve for terms of office of three years each. Members of the authority55
70	70		shall serve for the terms of office so specified and until the appointment and qualification of56
71	71		their respective successors. Vacancies on the authority shall be filled by said city council for57
72	72		the remainder of the unexpired term and until the appointment and qualification of a58
73	73		successor. Immediately after their appointment, the members of the authority shall enter59
74	74		upon their duties. The authority shall elect one of its members as chairperson and one as vice60
75	75		chairperson. The secretary-treasurer of the authority shall be appointed by the authority and61
76	76		need not be a member of the authority. Two members of the authority shall constitute a62
77	77		quorum and no vacancy on the authority shall impair the right of the quorum to exercise all63
78	78		the rights and perform all the duties of the authority and, in every instance, a majority vote64
79	79		of a quorum shall authorize any legal act of the authority, including all things necessary to65
80	80		H. B. 356
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	81	+	- 3 - 25 LC 61 0059
82	82		authorize and issue revenue bonds. The members of the authority shall receive no
83	83		66
84	84		compensation for their services but may be reimbursed by the authority for the actual67
85	85		expenses necessarily incurred in the performance of their duties. The authority shall make68
86	86		rules and regulations for its own government and shall have perpetual existence.69
87	87		SECTION 4.70
88	88		Definitions.71
89	89		As used in this Act, the following words and terms shall have the following meanings unless72
90	90		a different meaning clearly appears from the context:73
91	91		(1) "Authority" shall mean the City of Doraville Building and Public Facilities Authority74
92	92		created by this Act.75
93	93		(2) "Project" shall mean and include real and personal property acquired or held by the76
94	94		authority, including all land, buildings, structures, sanitary and surface water sewers, and77
95	95		other public property determined by the authority to be desirable for the efficient78
96	96		operation of any department, board, office, commission, or agency of the City of79
97	97		Doraville, or of the State of Georgia, in the performance of its governmental, proprietary,80
98	98		and administrative functions.81
99	99		(3) "Cost of project" shall include the cost of lands, buildings, improvements, machinery,82
100	100		equipment, property, easements, rights, franchises, material, labor, services acquired or83
101	101		contracted for, plans and specification, and financing charges; construction costs; interest84
102	102		prior to and during construction; architectural, accounting, engineering, inspection,85
103	103		administrative, fiscal, and legal expenses; expenses incident to determining the feasibility86
104	104		or practicability of the project; and expenses incident to the acquiring, constructing,87
105	105		equipping, and operating of any project or any part thereof and to the placing of the same88
106	106		in operation.89
107	107		H. B. 356
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	108	+	- 4 - 25 LC 61 0059
109	109		(4) "Revenue bonds" shall mean revenue bonds issued under the provisions of Article 3
110	110		90
111	111		of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond Law," or under the91
112	112		provisions of this Act. The obligations authorized under this Act may be issued by the92
113	113		authority in the manner authorized under the Revenue Bond Law.93
114	114		SECTION 5.94
115	115		Powers.95
116	116		The authority shall have all the powers necessary or convenient to carry out and effectuate96
117	117		the purposes and provisions of this Act, including, but without limiting the generality of the97
118	118		foregoing, the power:98
119	119		(1) To sue and be sued;99
120	120		(2) To adopt and alter a corporate seal;100
121	121		(3) To make and execute with public and private persons and corporations contracts,101
122	122		trusts, leases, rental agreements, and other instruments relating to its projects and in102
123	123		furtherance of the purposes of the authority, including contracts for the constructing,103
124	124		renting, and leasing of its projects for the use of any county or municipality in this state;104
125	125		(4) To acquire in its own name by purchase on such terms and conditions and in such105
126	126		manner as it may deem proper or by gift, grant, lease, or otherwise, real and personal106
127	127		property necessary or convenient for its corporate purposes, or rights and easements107
128	128		therein, and to use the same so long as its corporate existence shall continue and to lease108
129	129		or make contracts with respect to the use of or disposition of the same in any manner it109
130	130		deems to the best advantage of the authority. Title to any such property shall be held by110
131	131		the authority exclusively for the benefit of the public.111
132	132		(5) To improve, extend, add to, reconstruct, renovate, or remodel any project or part112
133	133		thereof already acquired;113
134	134		H. B. 356
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	135	+	- 5 - 25 LC 61 0059
136	136		(6) To pledge or assign any revenues, income, rent, charges, and fees received by the
137	137		114
138	138		authority;115
139	139		(7) To appoint and select agents, engineers, architects, attorneys, fiscal agents,116
140	140		accountants, and employees and to provide for their compensation and duties;117
141	141		(8) To construct, reconstruct, acquire, own, alter, repair, remodel, maintain, extend,118
142	142		improve, operate, manage, and equip projects located on land owned or leased by the119
143	143		authority;120
144	144		(9) To receive, accept, and use any contributions, loans, or grants by persons, firms, or121
145	145		corporations, including the State of Georgia and the United States of America, and any122
146	146		other contributions;123
147	147		(10) To pay all or part of the costs of any project from the proceeds of revenue bonds of124
148	148		the authority or from other lawful sources available to it;125
149	149		(11) To prescribe rules and regulations for the operation of and to exercise police powers126
150	150		over the projects managed or operated by the authority;127
151	151		(12) To accept, receive, and administer gifts, grants, loans and devises of money,128
152	152		material, and property of any kind, including loans and grants from the State of Georgia129
153	153		or the United States of America or any agency or instrumentality thereof, upon such130
154	154		terms and conditions as the State of Georgia or the United States of America or such131
155	155		agency or instrumentality may impose;132
156	156		(13) To sell, lease, exchange, transfer, assign, pledge, mortgage, dispose of, grant in133
157	157		trust, or grant options for any real or personal property or interest therein in furtherance134
158	158		of the purposes of the authority;135
159	159		(14) As security for repayment of authority obligations, to pledge, mortgage, convey,136
160	160		assign, hypothecate, or otherwise encumber any property, real or personal, of such137
161	161		authority and to execute any trust agreement, indenture, or security agreement containing138
162	162		any provisions not in conflict with law, which trust agreement, indenture, or security139
163	163		agreement may provide for foreclosure or forced sale of any property of the authority140
164	164		H. B. 356
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	165	+	- 6 - 25 LC 61 0059
166	166		upon default, on such obligations, either in payment of principal or interest or in the
167	167		141
168	168		performance of any term or condition, as are contained in such agreement or indenture;142
169	169		(15) To borrow money for any of its corporate purposes, to issue revenue bonds payable143
170	170		solely from funds pledged for that purpose, and to provide for the payment of the same144
171	171		and for the rights of the holders thereof;145
172	172		(16) To exercise all powers usually possessed by private corporations performing similar146
173	173		functions which are not in conflict with the Constitution and laws of this state; and147
174	174		(17) Pursuant to proper resolution of the authority, to issue revenue bonds payable from148
175	175		the rents and revenues of the authority and its projects, which bonds may be issued in149
176	176		either fully negotiable coupon form, in which event they shall have all the qualities and150
177	177		incidents of negotiable instruments under the laws of the State of Georgia, or which151
178	178		bonds may be issued in whole or in part in nonnegotiable fully registered form without152
179	179		coupons, payable to a designated payee or to the registered assigns of the payee with such153
180	180		conversion privileges as the authority may provide, for the purpose of paying all or any154
181	181		part of the cost associated with the projects authorized by the authority, including the cost155
182	182		of constructing, reconstructing, equipping, extending, adding to, or improving such156
183	183		projects or for the purpose of refunding, as provided in this Act, any such bonds of the157
184	184		authority theretofore issued. If the proceeds of the bonds of any issue shall exceed the158
185	185		amount required for the purpose for which such bonds were issued, the surplus shall be159
186	186		paid into the fund provided for the payment of principal and interest on such bonds. All160
187	187		such revenue bonds shall be issued and validated under and in accordance with the161
188	188		procedures of Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the Revenue Bond162
189	189		Law, and in accordance with all terms and provisions thereof not in conflict with this Act,163
190	190		and in accordance with Code Section 50-17-1 of the O.C.G.A., relating to use of164
191	191		facsimile signatures on public securities, and, as security for the payment of any revenue165
192	192		bonds so authorized, any rents and revenue of the authority may be pledged and assigned. 166
193	193		Such bonds shall be declared to be issued for an essential public and governmental167
194	194		H. B. 356
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	195	+	- 7 - 25 LC 61 0059
196	196		purpose, and such bonds and all income therefrom shall be exempt from all taxation
197	197		168
198	198		within the State of Georgia. For the purpose of the exemption from taxation of such169
199	199		bonds and the income therefrom, the authority shall be deemed to be a political170
200	200		subdivision of the State of Georgia.171
201	201		SECTION 6.172
202	202		Credit not pledged and debt not created by bonds.173
203	203		Revenue bonds issued under the provisions of this Act shall not constitute a debt or a pledge174
204	204		of the faith and credit of the State of Georgia or the City of Doraville, but such bonds shall175
205	205		be payable from the rentals, revenue, earnings, and funds of the authority as provided in the176
206	206		resolution or trust agreement or indenture authorizing the issuance and securing the payment177
207	207		of such bonds. The issuance of such bonds shall not directly, indirectly, or contingently178
208	208		obligate the state or said city to levy or pledge any form of taxation for the payment thereof. 179
209	209		No holder of any bond or receiver or trustee in connection therewith shall have the right to180
210	210		enforce the payment thereof against any property of the state or of said city, nor shall any181
211	211		such bond constitute a charge, lien, or encumbrance, legal or equitable, upon any such182
212	212		property. All such bonds shall contain on their face a recital setting forth substantially the183
213	213		foregoing provisions of this section.184
214	214		SECTION 7.185
215	215		Trust agreement.186
216	216		In the discretion of the authority, any issue of revenue bonds may be secured by an187
217	217		agreement or indenture made by the authority with a corporate trustee, which may be any188
218	218		trust company or bank having the powers of a trust company within or without the State of189
219	219		Georgia. Such trust agreement or indenture may pledge and assign rents, fees, charges,190
220	220		H. B. 356
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	221	+	- 8 - 25 LC 61 0059
222	222		revenues, and earnings to be received by the authority. The resolution providing for the
223	223		191
224	224		issuance of revenue bonds and such trust agreement or indenture may contain provisions for192
225	225		protecting and enforcing the rights and remedies of the bondholders, including the right of193
226	226		appointment of a receiver upon default of the payment of any principal or interest obligation194
227	227		and the right of any receiver or trustee to enforce collection of any rents, fees, charges, or195
228	228		revenues for use of the project or projects necessary to pay all costs of operation and all196
229	229		reserves provided for, all principal and interest on all bonds of the issue, all costs of197
230	230		collection, and all other costs reasonably necessary to accomplish the collection of such sums198
231	231		in the event of any default of the authority. Such resolution and such trust agreement or199
232	232		indenture may include covenants setting forth the duties of the authority in relation to the200
233	233		acquisition of property for and the construction of the project and to the custody,201
234	234		safeguarding, and application of all funds and covenants providing for the operation,202
235	235		maintenance, repair, and insurance of the project or projects and may contain provisions203
236	236		concerning the conditions, if any, upon which additional revenue bonds may be issued. Such204
237	237		trust agreement or indenture may set forth the rights and remedies of the bondholders and of205
238	238		the trustee and may restrict the individual right of action of bondholders as is customary in206
239	239		securing bonds and debentures of corporations and may contain such other provisions as the207
240	240		authority may deem reasonable and proper for the security of the bondholders. All expenses208
241	241		incurred in carrying out such trust may be treated as a part of the cost of maintenance,209
242	242		operation, and repair of the project affected by such trust.210
243	243		SECTION 8.211
244	244		Refunding bonds.212
245	245		The authority is authorized to provide by resolution for the issuance of revenue bonds of the213
246	246		authority for the purpose of calling, refunding, or refinancing any revenue bonds issued214
247	247		under the provisions of this Act and then outstanding and to include in the amount of such215
248	248		H. B. 356
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250	250		refunding bonds all interest and any call premiums that may be required for the redemption
251	251		216
252	252		and refunding of such outstanding bonds.217
253	253		SECTION 9.218
254	254		Venue of actions, jurisdiction.219
255	255		Any action to protect or enforce any rights under the provisions of this Act or any action220
256	256		against the authority brought in the courts of the State of Georgia shall be brought in the221
257	257		Superior Court of DeKalb County, Georgia, and any action pertaining to validation of any222
258	258		bonds issued under the provisions of this Act shall be brought in said court, which shall have223
259	259		exclusive, original jurisdiction of such actions.224
260	260		SECTION 10.225
261	261		Revenue bond validation.226
262	262		The petition for validation of all revenue bonds of the authority shall be brought against the227
263	263		authority, and any contracting party whose obligation is pledged as security for the payment228
264	264		of the bonds sought to be validated, as defendants, and the defendants shall be required to229
265	265		show cause, if any exists, why such contract or contracts and the terms and conditions thereof230
266	266		shall not be adjudicated to be in all respects valid and binding upon such contracting parties.231
267	267		It shall be incumbent upon such defendants to defend against adjudication of the validity and232
268	268		binding effect of such contract or contracts or be forever bound thereby. Notice of such233
269	269		proceedings shall be included in the notice of the validation hearing required to be issued and234
270	270		published by the clerk of the Superior Court of DeKalb County in which court such235
271	271		validation proceedings shall be initiated.236
272	272		H. B. 356
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274	274		SECTION 11.
275	275		237
276	276		Interest of bondholders protected.238
277	277		While any of the bonds issued by the authority remain outstanding, the powers, duties, or239
278	278		existence of the authority or of its officers, employees, or agents shall not be diminished,240
279	279		impaired, or affected in any manner that will affect adversely the interest and rights of the241
280	280		holders of such bonds. The provisions of this Act shall be for the benefit of the authority and242
281	281		the holders of any such bonds and, upon the issuance of bonds under the provisions of this243
282	282		Act, shall constitute a contract with the holders of such bonds.244
283	283		SECTION 12.245
284	284		Revenues, earnings, rents, and charges; use.246
285	285		(a) For the purpose of earning sufficient revenue to make possible the financing of the247
286	286		construction of the project or projects of the authority with revenue bonds, the authority is248
287	287		authorized and empowered to fix, revise, and collect rents, fees, and charges on each project249
288	288		which it shall cause to be acquired or constructed. Such rents, fees, or charges to be paid for250
289	289		the use of such project or projects shall be so fixed and adjusted so as to provide a fund251
290	290		sufficient with other revenue, if any, of such project or projects or of the authority:252
291	291		(1) To pay the cost of operating, maintaining, and repairing the project or projects,253
292	292		including reserves for insurance and extraordinary repairs and other reserves required by254
293	293		the resolution or trust agreement or indenture pertaining to such bonds and the issuance255
294	294		thereof, unless such cost shall be otherwise provided for;256
295	295		(2) To pay the principal of and interest on such revenue bonds as the same shall become257
296	296		due, including call premiums, if any, the proceeds of which shall have been or shall be258
297	297		used to pay the cost of such project or projects;259
298	298		H. B. 356
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300	300		(3) To comply with any sinking fund requirements contained in the resolution or trust
301	301		260
302	302		agreement or indenture pertaining to the issuance of and security for such bonds;261
303	303		(4) To perform fully all provisions of such resolution or trust agreement or indenture262
304	304		relating to the issuance of or security for such bonds to the payment of which such rent263
305	305		is pledged;264
306	306		(5) To accumulate any excess income which may be required by the purchasers of such265
307	307		bonds or may be dictated by the requirements of such resolution or trust agreement or266
308	308		indenture, or which may be required for achieving ready marketability of and low interest267
309	309		rates on such bonds; and268
310	310		(6) To pay any expenses in connection with such bond issue or of such project,269
311	311		including, but not limited to, trustees', attorney's, and fiscal agents' fees.270
312	312		(b) Such rent shall be payable at such intervals as may be agreed upon and set forth in the271
313	313		rental contract or lease providing therefor, and any such contract or lease may provide for the272
314	314		commencement of rent payments to the authority prior to the completion of the project by273
315	315		the authority and may provide for the payment of rent during such times as such project may274
316	316		be partially or wholly untenantable.275
317	317		(c) Such rental contract or lease may obligate the tenants or lessees to operate, maintain, and276
318	318		keep in good repair, including complete reconstruction, if necessary, the rented or leased277
319	319		premises and projects, regardless of the cause of the necessity of such maintenance, repair,278
320	320		or reconstruction.279
321	321		(d) Such rental contract or lease may obligate the tenants or lessees to indemnify and save280
322	322		harmless the authority from any and all damage to persons and property occurring on or by281
323	323		reason of the leased property or improvements thereon and to undertake, at the expense of282
324	324		the tenants or lessees, the defense of any action brought against the authority by reason of283
325	325		injury or damages to persons or property occurring on or by reason of the leased premises.284
326	326		(e) In the event of any failure or refusal on the part of the tenants or lessees to perform285
327	327		punctually any covenant or obligation contained in any such rental contract or lease, the286
328	328		H. B. 356
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	329	+	- 12 - 25 LC 61 0059
330	330		authority may enforce performance by any legal or equitable process against the tenants or
331	331		287
332	332		lessees.288
333	333		(f) The authority shall be permitted to assign any rent payable to it, pursuant to such rental289
334	334		contract or lease, to a trustee or paying agent as may be required by the terms of the290
335	335		resolution or trust agreement or indenture relating to the issuance of and security for such291
336	336		bonds.292
337	337		(g) The use and disposition of the authority's revenue shall be subject to the provisions of293
338	338		the resolution authorizing the issuance of such bonds or of the trust agreement or indenture,294
339	339		if any, securing the same.295
340	340		SECTION 13.296
341	341		Sinking fund.297
342	342		The revenue, rents, and earnings derived from any particular project or projects and any and298
343	343		all revenue, rents, and earnings received by the authority, regardless of whether such299
344	344		revenue, rents, and earnings were produced by a particular project for which bonds have been300
345	345		issued, unless otherwise pledged, may be pledged by the authority to payment of the301
346	346		principal of and interest on revenue bonds of the authority as may be provided in any302
347	347		resolution authorizing the issuance of such bonds or in any trust instrument pertaining to such303
348	348		bonds, and such funds so pledged, from whatever source received, may include funds304
349	349		received from one or more or all sources and may be set aside at regular intervals into305
350	350		sinking funds for which provision may be made in any such resolution or trust instrument306
351	351		and which may be pledged to and charged with the payment of the interest upon such307
352	352		revenue bonds as such interest shall become due, the principal of the bonds as the same shall308
353	353		mature, the necessary charges of any trustee or paying agent for paying such principal and309
354	354		interest, and any premium upon bonds retired by call or purchase, and the use and disposition310
355	355		of any sinking fund may be subject to such regulation as may be provided for in the311
356	356		H. B. 356
357		-	- 13 - 25 LC 61 0059~~/AP~~
	357	+	- 13 - 25 LC 61 0059
358	358		resolution authorizing the issuance of the bonds or in the trust instrument securing the
359	359		312
360	360		payment of the same.313
361	361		SECTION 14.314
362	362		Taxation status.315
363	363		The exercise of the powers conferred upon the authority under this Act shall constitute an316
364	364		essential governmental function for a public purpose, and to the maximum extent permitted317
365	365		by general law, the authority shall be required to pay no taxes or assessments upon any of the318
366	366		property acquired by it or under its jurisdiction, control, possession, or supervision or upon319
367	367		its activities in the operation and maintenance of property acquired by it or of buildings320
368	368		erected or acquired by it or any fees, rents, or other charges for the use of such property or321
369	369		buildings or other income received by the authority. This section shall not include an322
370	370		exemption from sales and use tax on property purchased by or for the use of the authority.323
371	371		SECTION 15.324
372	372		Immunity from tort actions.325
373	373		The authority shall have the same immunity and exemption from liability for torts and326
374	374		negligence as the City of Doraville, and the officers, agents, and employees of the authority,327
375	375		when in performance of work of the authority, shall have the same immunity and exemption328
376	376		from liability for torts and negligence as officers, agents, and employees of the City of329
377	377		Doraville. The authority may be sued the same as private corporations on any contractual330
378	378		obligation of the authority.331
379	379		H. B. 356
380		-	- 14 - 25 LC 61 0059~~/AP~~
	380	+	- 14 - 25 LC 61 0059
381	381		SECTION 16.
382	382		332
383	383		Property not subject to levy and sale.333
384	384		The property of the authority shall not be subject to levy and sale under legal process.334
385	385		SECTION 17.335
386	386		Trust funds.336
387	387		All funds received pursuant to the authority of Section 12 of this Act, whether as proceeds337
388	388		from the sale of revenue bonds or as revenue, rents, fees, charges, or other earnings or as338
389	389		grants, gifts, or other contributions, shall be deemed to be trust funds to be held and applied339
390	390		by the authority, solely as provided in this Act. The bondholders entitled to receive the340
391	391		benefits of such funds shall have a lien on all such funds until the same are applied as341
392	392		provided for in any such resolution or trust instrument of the authority.342
393	393		SECTION 18.343
394	394		Construction.344
395	395		This Act and any other law enacted with reference to the authority shall be liberally345
396	396		construed for the accomplishment of the purposes of the authority.346
397	397		SECTION 19.347
398	398		Scope of operations.348
399	399		The projects of the authority's operation shall be located in the territory embraced within the349
400	400		jurisdictional limits of the City of Doraville as the same now or may hereafter exist.350
401	401		H. B. 356
402		-	- 15 - 25 LC 61 0059~~/AP~~
	402	+	- 15 - 25 LC 61 0059
403	403		SECTION 20.
404	404		351
405	405		Conveyance of property upon dissolution.352
406	406		Should the authority for any reason be dissolved after full payment of all bonded353
407	407		indebtedness incurred under this Act, both as to principal and interest, title to all property of354
408	408		any kind and nature, real and personal, held by the authority at the time of such dissolution355
409	409		shall be conveyed to the City of Doraville, or title to any such property may be conveyed356
410	410		prior to such dissolution in accordance with provisions which may be made therefor in any357
411	411		resolution or trust instrument relating to such property, subject to any liens, leases, or other358
412	412		encumbrances outstanding against or in respect to said property at the time of such359
413	413		conveyance.360
414	414		SECTION 21.361
415	415		Severability; effect of partial invalidity of Act.362
416	416		Should any sentence, clause, phrase, or part of this Act be declared for any reason to be363
417	417		unconstitutional or invalid, the same shall not affect such remainder of this Act or any part364
418	418		hereof, other than the part so held to be invalid, but the remaining provisions of this Act shall365
419	419		remain in full force and effect, and it is the express intention of this Act to enact each366
420	420		provision of this Act independently of any other provision hereof.367
421	421		SECTION 22.368
422	422		General repealer.369
423	423		All laws and parts of laws in conflict with this Act are repealed.370
424	424		H. B. 356
425	425		- 16 -