Georgia 2025-2026 Regular Session

Georgia House Bill HB763 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	25 LC 62 0171~~/AP~~
2		-	House Bill 763 ~~(AS PASSED HOUSE AND SENATE)~~
	1	+	25 LC 62 0171
	2	+	House Bill 763
3	3		By: Representatives Stephens of the 164
4	4		th
5	5		, Petrea of the 166
6	6		th
7	7		, and Franklin of the 160
8	8		th
9	9
10	10		A BILL TO BE ENTITLED
11	11		AN ACT
12	12		To create and establish the Richmond Hill-Bryan County Airport Authority, a new airport
13	13		1
14	14		authority in and for the County of Bryan and the City of Richmond Hill; to authorize such2
15	15		authority to acquire, construct, equip, maintain, operate, own, and improve airports and3
16	16		landing fields for the use of aircraft which shall include related buildings, equipment, and the4
17	17		usual and convenient facilities appertaining to such undertaking; to authorize the authority5
18	18		to acquire, lease, own, and hold a fee simple title, or any interest therein, to all necessary6
19	19		property therefor, both real and personal, within and outside the confines of Bryan County7
20	20		and to convey, lease, and sell any and all such facilities including real property; to confer8
21	21		powers and to impose duties on the authority; to provide for the membership and for the9
22	22		appointment of members of the authority and their term of tenure and their compensation;10
23	23		to authorize the authority to contract with others, both within and outside the confines of11
24	24		Bryan County, pertaining to airports and landing fields for the use of aircraft and to execute12
25	25		leases of such facilities and to do all things deemed necessary or convenient for the operation13
26	26		of such undertaking; to authorize the issuance of revenue bonds or obligations of the14
27	27		authority payable from the revenues, tolls, fees, charges, and earnings of the authority,15
28	28		including, but not limited to, earnings derived from leases and the use of the facilities, to pay16
29	29		the costs of such undertakings and to authorize the collection and pledging of the revenues17
30	30		and earnings of the authority for the payment of such bonds or obligations or to secure the18
31	31		H. B. 763
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	32	+	- 1 - 25 LC 62 0171
33	33		payment thereof by contract, mortgage, deed to secure debt, security deed note, or trust deed
34	34		19
35	35		and to define the rights of the holders of such bonds and securities; to provide that no liability20
36	36		or debt against the aforementioned city or county shall be incurred in the exercise of any21
37	37		powers granted by this Act; to make the bonds, securities, or obligations of the authority22
38	38		exempt from taxation; to authorize the issuance of refunding bonds, securities, or other23
39	39		obligations; to provide that such bonds, securities, or other obligations be validated as24
40	40		authorized by the "Revenue Bond Law"; to provide for an effective date; to repeal conflicting25
41	41		laws; and for other purposes.26
42	42		BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:27
43	43		SECTION 1.28
44	44		Short title.29
45	45		This Act shall be known and may be cited as the "Richmond Hill-Bryan County Airport30
46	46		Authority Act."31
47	47		SECTION 2.32
48	48		Richmond Hill-Bryan County Airport Authority; creation.33
49	49		There is created a body corporate and politic to be known as the Richmond Hill-Bryan34
50	50		County Airport Authority, which shall be deemed to be a political subdivision of the State35
51	51		of Georgia and a public corporation by that name, style, and title, and said body may contract36
52	52		and be contracted with, bring and defend actions, implead and be impleaded, and complain37
53	53		and defend in all courts of law and equity, except that the authority of the trustee acting under38
54	54		the trust indenture herein provided for shall in no event be liable for any torts committed by39
55	55		H. B. 763
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57	57		any of the officers, agents, and employees of the authority. The authority shall have
58	58		40
59	59		perpetual existence.41
60	60		SECTION 3.42
61	61		Membership.43
62	62		(a) The Richmond Hill-Bryan County Airport Authority shall be composed of 11 members.44
63	63		(b) Seven members shall be appointed by the governing authorities of the County of Bryan45
64	64		and City of Richmond Hill. Within 60 days after the approval of this Act, it shall be the duty46
65	65		of said governing authorities to appoint the members of the authority to Post No. 1, Post47
66	66		No. 2, Post No. 3, Post No. 4, Post No. 5, Post No. 6, and Post No. 7 as follows:48
67	67		(1) The County Manager of Bryan County or his or her designee shall be appointed to49
68	68		Post No. 1;50
69	69		(2) The City Manager for the City of Richmond Hill or his or her designee shall be51
70	70		appointed to Post No. 2;52
71	71		(3) The members from Post No. 3 and Post No. 5 shall be appointed by the governing53
72	72		authority of Bryan County;54
73	73		(4) The members from Post No. 4 and Post No. 6 shall be appointed by the governing55
74	74		authority of the City of Richmond Hill; and56
75	75		(5) The initial member from Post No. 7 shall be appointed by the governing authority of57
76	76		the City of Richmond Hill; thereafter, such member from Post No. 7 shall be appointed58
77	77		by the governing authority of Bryan County. Future appointments to Post No. 7 shall59
78	78		alternate between the governing authority of the City of Richmond Hill and the governing60
79	79		authority of Bryan County.61
80	80		(c) Four members of the authority shall by appointed by the legislative delegation of Bryan62
81	81		County. The members appointed by the legislative delegation of Bryan County may be63
82	82		residents or nonresidents of Bryan County. The term of the members appointed by the64
83	83		H. B. 763
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85	85		legislative delegation of Bryan County shall be four years and until a successor is appointed
86	86		65
87	87		and qualified. Members appointed by the legislative delegation of Bryan County may66
88	88		succeed themselves.67
89	89		(d) For Posts No. 1 and 2, the term of office shall be as long as the member holds the68
90	90		position of county manager and city manager, respectively. For Posts No. 3 through 7, the69
91	91		term of office of each member shall be four years and until a successor is appointed and70
92	92		qualified. Following initial appointments, vacancies in each post shall be filled by the71
93	93		governing authority making the appointment. Vacancies for the offices of the members72
94	94		appointed by the legislative delegation shall be filled by the legislative delegation appointing73
95	95		a member to the vacancy. Members appointed to fill vacancies shall serve for the remainder74
96	96		of the vacant member's term.75
97	97		SECTION 4.76
98	98		Meetings.77
99	99		The authority shall hold its first organizational meeting on or before April 30, 2026, at 10:0078
100	100		A.M. in the City Hall, 40 Richmond R. Davis Drive, Richmond Hill, Georgia. Notice of such79
101	101		meeting shall be given to the legal organ of the County of Bryan not less than 15 days prior80
102	102		thereto, and a notice shall be posted on the website for the County of Bryan and the City of81
103	103		Richmond Hill. Thereafter, the authority shall meet at such times as may be necessary to82
104	104		transact the business coming before it, but not less than quarterly. All meetings shall be83
105	105		called, noticed, and conducted in accordance with Chapter 14 of Title 50 of the O.C.G.A.,84
106	106		the "Open Meetings Law." At its first organizational meeting and its first regular meeting85
107	107		in January of each year thereafter, the authority shall elect one of its members as its86
108	108		chairperson and another member as secretary-treasurer. It shall be the duty of the87
109	109		secretary-treasurer to prepare or oversee the preparation of written minutes of all meetings88
110	110		of the authority. Only one person shall hold the office of secretary-treasurer. These officers89
111	111		H. B. 763
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	112	+	- 4 - 25 LC 62 0171
113	113		shall be elected for a term ending on December 31 of the year in which they were elected or
114	114		90
115	115		until their successors are elected and qualified. Four members of the authority shall91
116	116		constitute a quorum for the transaction of all business coming before it. The members of the92
117	117		authority may be compensated as determined from time to time by said governing93
118	118		authorities; however, it is expressly provided that they shall be reimbursed for all actual,94
119	119		reasonable, and necessary expenses incurred in the performance of their duties.95
120	120		SECTION 5.96
121	121		Vacancies in office.97
122	122		In the event of a vacancy on the authority by reason of death, resignation, or otherwise, the98
123	123		vacancy shall be filled by the governing authority which appointed such member, and the99
124	124		person so appointed shall serve for the remainder of the unexpired term.100
125	125		SECTION 6.101
126	126		Definitions.102
127	127		(a) As used in this Act, the term:103
128	128		(1) "Authority" means the Richmond Hill-Bryan County Airport Authority created in104
129	129		Section 2 of this Act.105
130	130		(2) "Cost of the project" means the cost of construction; the cost of all lands, properties,106
131	131		rights, easements, and franchises acquired; the cost of all machinery, equipment,107
132	132		financing charges, and interest prior to and during construction; the cost of engineering,108
133	133		architectural, fiscal, and legal expenses; the cost of plans and specifications; and such109
134	134		other expenses as may be necessary or incidental to the financing herein authorized, the110
135	135		construction or improvement of any project, and the placing of the same in operation.111
136	136		Any obligation or expense incurred for any of the foregoing purposes shall be regarded112
137	137		H. B. 763
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	138	+	- 5 - 25 LC 62 0171
139	139		as a part of the cost of the project and may be paid or reimbursed as such out of any funds
140	140		113
141	141		of the authority including the proceeds from any revenue bonds issued under the114
142	142		provisions of this Act for any such project or projects.115
143	143		(3) "Project" means and includes the leasing, acquisition, construction, equipping,116
144	144		maintenance, improving, and operation of public airports and landing fields for the use117
145	145		of aircraft, related buildings, and the usual and convenient facilities appertaining to such118
146	146		undertakings; extensions and improvements of such facilities; the acquisition of necessary119
147	147		property, both real and personal; and the lease and sale of any part of or all of such120
148	148		facilities, including real and personal property, so as to assure the efficient and proper121
149	149		development, maintenance, and operation of such airports and landing fields for the use122
150	150		of aircraft, deemed by the authority to be necessary, convenient, or desirable for the123
151	151		operation of such airports and landing fields anywhere within Bryan County.124
152	152		(4) "Revenue bonds," "bonds," or "obligations" mean revenue bonds as defined and125
153	153		provided for in Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond126
154	154		Law," and such type of obligations may be issued by the authority as authorized under127
155	155		said "Revenue Bond Law" and any amendments thereto, and in addition shall also mean128
156	156		obligations of the authority the issuance of which are hereinafter authorized in this Act.129
157	157		(b) Any project shall be deemed "self-liquidating" if, in the judgment of the authority, the130
158	158		revenues and earnings to be derived by the authority therefrom and all properties used,131
159	159		leased, and sold in connection therewith will be sufficient to pay the cost of constructing,132
160	160		operating, maintaining, repairing, improving, and extending the project and to pay the133
161	161		principal and interest of the revenue bonds which may be issued to finance, in whole or in134
162	162		part, the cost of such project or projects.135
163	163		H. B. 763
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165	165		SECTION 7.
166	166		136
167	167		Powers.137
168	168		(a) The authority shall have power:138
169	169		(1) To have a seal and alter the same at its pleasure;139
170	170		(2) To acquire by purchase, lease, or otherwise and to hold, lease, and dispose of real and140
171	171		personal property of every kind and character for its corporate purposes;141
172	172		(3) To acquire in its own name by purchase, gift, or otherwise on such terms and142
173	173		conditions and in such manner as it may deem proper, real property or rights or easements143
174	174		therein or franchises necessary or convenient for its corporate purposes, and to use the144
175	175		same so long as its corporate existence shall continue, and to lease or make contracts with145
176	176		respect to the use of or disposition of the same in any manner it deems to the best146
177	177		advantage of the authority;147
178	178		(4) To appoint, select, and employ officers and employees, or, in the alternative, the148
179	179		authority may contract with the City of Richmond Hill for its officers and employees or149
180	180		may contract with the city for personnel services and benefits, including payroll,150
181	181		insurance, and retirement programs. The authority may enter into contracts with151
182	182		consultants and independent contractors, including engineering, architectural, and152
183	183		construction experts, fiscal agents, and attorneys, and fix their respective compensation;153
184	184		(5) To make contracts and leases and to execute all instruments necessary or convenient154
185	185		including contracts for construction of projects or leases of projects or contracts with155
186	186		respect to the use of projects which it causes to be erected or acquired and any and all156
187	187		persons, firms, and corporations and any and all political subdivisions, departments,157
188	188		institutions, or agencies of the state are authorized to enter into contracts, leases, or158
189	189		agreements with the authority upon such terms and for such purposes as they may deem159
190	190		advisable; the authority is further granted the authority to make contracts, leases, and to160
191	191		execute all instruments necessary or convenient with the United States government or any161
192	192		H. B. 763
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194	194		agency or department thereof concerning the projects of the authority, subject to the
195	195		162
196	196		rights and interests of the holder of any of the bonds or obligations authorized to be163
197	197		issued hereunder, and by the resolution or trust indenture of the authority authorizing the164
198	198		issuance of any of its bonds or obligations as provided for in this Act;165
199	199		(6) To construct, erect, acquire, own, repair, remodel, maintain, add to, extend, improve,166
200	200		equip, operate, and manage projects, as hereinabove defined, the cost of any such project167
201	201		to be paid in whole or in part from the proceeds of revenue bonds or other funds of the168
202	202		authority or from such proceeds or other funds and any grant from the United States of169
203	203		America, State of Georgia, County of Bryan, City of Richmond Hill, or any agency or170
204	204		instrumentality thereof;171
205	205		(7) To accept loans and grants, or to accept loans or grants of money or materials or172
206	206		property of any kind from the United States of America or any agency or instrumentality173
207	207		or political subdivision thereof or from any other source, upon such terms and conditions174
208	208		as the United States of America or such agency or instrumentality or other source may175
209	209		impose;176
210	210		(8) To accept loans and grants, or to accept loans or grants of money or materials or177
211	211		property of any kind from the State of Georgia or any agency or instrumentality or178
212	212		political subdivision thereof or from any other source, upon such terms and conditions179
213	213		as the State of Georgia or such agency or instrumentality or political subdivision or any180
214	214		other source may impose;181
215	215		(9) To borrow money for any of its corporate purposes and to execute evidence of such182
216	216		indebtedness by promissory notes, or otherwise, and to secure the same and to issue183
217	217		negotiable revenue bonds payable solely from funds pledged for that purpose, and to184
218	218		provide for the payment of the same and for the rights of the holders thereof;185
219	219		(10) To exercise any power usually possessed by private corporations performing similar186
220	220		functions, which is not in conflict with the Constitution and laws of this state, except the187
221	221		right of eminent domain;188
222	222		H. B. 763
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224	224		(11) The authority and the trustee acting under the trust indenture are specifically
225	225		189
226	226		authorized from time to time to sell, lease, grant, exchange, or otherwise dispose of any190
227	227		surplus property, both real or personal, or interest therein not required in the normal191
228	228		operation of and usable in the furtherance of the purpose for which the authority was192
229	229		created;193
230	230		(12) To do all things necessary or convenient to exercise and carry out the powers194
231	231		especially given in this Act;195
232	232		(13) To make rules and bylaws for the orderly operation of the authority; and196
233	233		(14) To request the city or county to exercise the power of eminent domain to acquire197
234	234		any private real property or any rights or interests therein including any easements, as198
235	235		necessary or convenient for the accomplishment of the purposes of this Act, in199
236	236		accordance with the provisions of any and all existing laws applicable to the exercise of200
237	237		such power. The authority shall pay the condemning authority for any property201
238	238		condemned under this power, including legal fees and expenses (such as surveys and202
239	239		appraisals), from its own funds and in proceedings to condemn pursuant to this section,203
240	240		the court having jurisdiction of the suit, action, or proceeding may enter such orders204
241	241		regarding the payment for such property or interest therein as may be fair and just to the205
242	242		city or county, the authority, and the owners of the property being condemned. Any such206
243	243		procedure may suggest the method of payment by the authority to persons who shall own207
244	244		or have an interest in the property.208
245	245		(b) The authority, notwithstanding any other provision herein to the contrary, is authorized209
246	246		to exercise each and every power conferred upon it by this Act, specifically including the210
247	247		issuance of revenue bonds, both within and outside the confines of Bryan County, and to211
248	248		contract with any other entity, governmental or otherwise, for the joint acquisition,212
249	249		construction, use, or operation of airports and related facilities outside the limits of Bryan213
250	250		County. Prior to exercising any of said powers outside the limits of Bryan County, said214
251	251		H. B. 763
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253	253		authority shall be required to obtain the approval of the governing authorities of both the City
254	254		215
255	255		of Richmond Hill and Bryan County.216
256	256		SECTION 8.217
257	257		Revenue bonds.218
258	258		The authority, or any authority or body which has or which may in the future succeed to the219
259	259		powers, duties, and liabilities vested in the authority created hereby, shall have power and220
260	260		is authorized at one time, or from time to time, to provide by resolution for the issuance of221
261	261		negotiable revenue bonds, for the purpose of paying all or any part of the cost as herein222
262	262		defined of any one or more projects. The principal and interest of such revenue bonds shall223
263	263		be payable solely from the special fund herein provided for such payment. The bonds of224
264	264		each issue shall be dated, shall bear interest at such rate or rates as may be authorized by the225
265	265		authority from time to time, shall be payable as provided by resolution of the authority, shall226
266	266		mature at such time or times not exceeding 30 years from their date or dates, shall be payable227
267	267		in such medium of payment as to both principal and interest as may be determined by the228
268	268		authority, and may be made redeemable before maturity at the option of the authority, at such229
269	269		price or prices and under such terms and conditions as may be fixed by the authority in the230
270	270		resolution providing for the issuance of the bonds. Such revenue bonds or obligations shall231
271	271		be issued pursuant to and in conformity with Article 3 of Chapter 82 of Title 36 of the232
272	272		O.C.G.A., the "Revenue Bond Law," and all procedures pertaining to such issuance and the233
273	273		conditions thereof shall be the same as those contained in said "Revenue Bond Law" and any234
274	274		amendments thereof.235
275	275		H. B. 763
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277	277		SECTION 9.
278	278		236
279	279		Form, denominations, registration, place of payment.237
280	280		The authority shall determine the form of the bonds, shall fix the denomination or238
281	281		denominations of the bonds, and the place or places of payment of principal and interest239
282	282		thereof, which may be at any bank or trust company within or outside the state. The bonds240
283	283		may be issued in coupon or registered form, or both, as the authority may determine, and241
284	284		provision may be made for the registration of any coupon bond as to principal alone and also242
285	285		as to both the principal and interest.243
286	286		SECTION 10.244
287	287		Signatures, seal.245
288	288		In case any officer whose signature shall appear on any bonds or whose facsimile signature246
289	289		shall appear on any coupon shall cease to be such officer before the delivery of such bonds,247
290	290		such signature shall nevertheless be valid and sufficient for all purposes the same as if he or248
291	291		she had remained in office until such delivery. All such bonds shall be signed by the249
292	292		chairperson of the authority and attested by the secretary-treasurer of the authority, and the250
293	293		official seal of the authority shall be affixed thereto, and any coupons attached thereto shall251
294	294		bear the facsimile signatures of the chairperson and secretary-treasurer of the authority. Any252
295	295		bond may be signed, sealed, and attested on behalf of the authority by such persons as at the253
296	296		actual time of the execution of such bonds shall be duly authorized or hold the proper office,254
297	297		although at the date of delivery and payment of such bonds such persons may not have been255
298	298		so authorized or shall not have held such office.256
299	299		H. B. 763
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301	301		SECTION 11.
302	302		257
303	303		Negotiability, exemption from taxation.258
304	304		All revenue bonds issued under the provisions of this Act shall have and are declared to have259
305	305		all the qualities and incidents of negotiable instruments under the negotiable instrument law260
306	306		of the state. Such bonds are declared to be issued for an essential public and governmental261
307	307		purpose and the said bonds, their transfer, and the income thereof shall be exempt from all262
308	308		taxation within the state.263
309	309		SECTION 12.264
310	310		Sale, price.265
311	311		The authority may sell such bonds in such manner and for such price as it may determine to266
312	312		be in the best interest of the authority.267
313	313		SECTION 13.268
314	314		Proceeds of bonds.269
315	315		The proceeds of such bonds shall be used solely for the payment of the cost of the project or270
316	316		projects, and unless otherwise provided in the resolution authorizing the issuance of the271
317	317		bonds or in the trust indenture, additional bonds may in like manner be issued to provide the272
318	318		amount of any deficit for the cost of the project or projects which, unless otherwise provided273
319	319		in the resolution authorizing the issuance of the bonds or in the trust indenture, shall be274
320	320		deemed to be of the same issue and shall be entitled to payment from the same fund without275
321	321		preference or priority of the bonds first issued for the same purposes. If the proceeds of the276
322	322		bonds of any issue shall exceed the amount required for the purpose for which such bonds277
323	323		are issued, the surplus shall be paid into a sinking fund or used for additional construction278
324	324		H. B. 763
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326	326		as may be provided in the resolution authorizing the issuance of the bonds or in the trust
327	327		279
328	328		indenture.280
329	329		SECTION 14.281
330	330		Interim receipts and certificates or temporary bonds.282
331	331		Prior to the preparation of definitive bonds, the authority may, under like restrictions, issue283
332	332		interim receipts, interim certificates, or temporary bonds, with or without coupons284
333	333		exchangeable for definitive bonds upon the issuance of the latter.285
334	334		SECTION 15.286
335	335		Replacement of lost or mutilated bonds.287
336	336		The authority may also provide for the replacement of any bond which shall become288
337	337		mutilated or be destroyed or lost.289
338	338		SECTION 16.290
339	339		Conditions precedent to issuance, object of issuance.291
340	340		Such revenue bonds may be issued without any other proceedings or the happening of any292
341	341		conditions or things other than those proceedings, conditions, and things which are specified293
342	342		or required by this Act. In the discretion of the authority, revenue bonds of a single issue294
343	343		may be issued for the purpose of any particular project. Any resolution providing for the295
344	344		issuance of revenue bonds under the provisions of this Act shall become effective296
345	345		immediately upon its passage and need not be published or posted, and any such resolution297
346	346		may be passed at any regular or special or adjourned meeting of the authority by a majority298
347	347		of the quorum as in this Act provided.299
348	348		H. B. 763
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350	350		SECTION 17.
351	351		300
352	352		Credit not pledged.301
353	353		Revenue bonds issued under the provisions of this Act shall not be deemed to constitute a302
354	354		debt of either the City of Richmond Hill or Bryan County, or any municipality therein, but303
355	355		such bonds shall be payable solely from the fund hereinafter provided for and the issuance304
356	356		of such revenue bonds shall not directly, indirectly, or contingently obligate the said city or305
357	357		county, or any municipality therein, to levy or to pledge any form of taxation whatever306
358	358		therefor or to make any appropriation for such payment, and all such bonds shall contain307
359	359		recitals on their face covering substantially the foregoing provisions of this section.308
360	360		SECTION 18.309
361	361		Trust indenture as security.310
362	362		In the discretion of the authority, any issue of such revenue bonds may be secured by a trust311
363	363		indenture by and between the authority and a corporate trustee, which may be any trust312
364	364		company or bank having the powers of a trust company within or outside of the state. Such313
365	365		trust indenture may pledge or assign fees, tolls, revenues, and earnings to be received by the314
366	366		authority, including the proceeds derived from the sale from time to time of any surplus315
367	367		property of the authority, both real and personal. Either the resolution providing for the316
368	368		issuance of revenue bonds or such trust indenture may contain such provisions for protecting317
369	369		and enforcing the rights and remedies of the bondholders as may be reasonable and proper318
370	370		and not in violation of law, including covenants setting forth the duties of the authority in319
371	371		relation to the acquisition of property, the construction of the project, the maintenance,320
372	372		operation, repair, and insuring of the property, and the custody, safeguarding, and application321
373	373		of all moneys, including the proceeds derived from the sale or lease of property of the322
374	374		authority, both real and personal, and may also provide that any project shall be constructed323
375	375		H. B. 763
376		-	- 14 - 25 LC 62 0171~~/AP~~
	376	+	- 14 - 25 LC 62 0171
377	377		and paid for under the supervision and approval of consulting engineers or architects
378	378		324
379	379		employed or designated by the authority, and satisfactory to the original purchasers of the325
380	380		bonds issued therefor and may also require that the security given by contractors and by any326
381	381		depository of the proceeds of the bonds or revenues or other moneys be satisfactory to such327
382	382		purchasers, and may also contain provisions concerning the conditions, if any, upon which328
383	383		additional revenue bonds may be issued. It shall be lawful for any bank or trust company329
384	384		incorporated under the laws of this state to act as such depository and to furnish such330
385	385		indemnifying bonds or pledge such securities as may be required by the authority. Such331
386	386		indenture may set forth the rights and remedies of the bondholders and of the trustee and may332
387	387		restrict the individual right of action of bondholders as is customary in trust indentures333
388	388		securing bonds and debentures of corporations. In addition to the foregoing, such trust334
389	389		indenture may contain such other provisions as the authority may deem reasonable and335
390	390		proper for the security of the bondholders. All expenses incurred in carrying out such trust336
391	391		indenture may be treated as a part of the cost of maintenance, operation, and repair of the337
392	392		project affected by such indenture.338
393	393		SECTION 19.339
394	394		To whom proceeds of bonds shall be paid.340
395	395		The authority shall, in the resolution providing for the issuance of revenue bonds or in the341
396	396		trust indenture, provide for the payment of the proceeds of the sale of the bonds to any officer342
397	397		or person who, or any agency, bank, or trust company which, shall act as trustee of such343
398	398		funds to hold and apply the same to the purposes thereof, subject to such regulations as this344
399	399		Act and such resolutions or trust indentures may provide.345
400	400		H. B. 763
401		-	- 15 - 25 LC 62 0171~~/AP~~
	401	+	- 15 - 25 LC 62 0171
402	402		SECTION 20.
403	403		346
404	404		Sinking fund.347
405	405		The revenues, fees, tolls, and earnings derived from any particular project or projects,348
406	406		regardless of whether or not such fees, earnings, and revenues were produced by a particular349
407	407		project for which bonds have been issued and any moneys derived from the sale or lease of350
408	408		any properties, both real and personal, of the authority, unless otherwise pledged and351
409	409		allocated, may be pledged and allocated by the authority to the payment of the principal and352
410	410		interest on such revenue bonds of the authority as the resolution authorizing the issuance of353
411	411		the bonds or the trust instrument may provide, and such funds so pledged from whatever354
412	412		source received, which said pledge may include funds received from one or more or all355
413	413		sources, shall be set aside at regular intervals as may be provided in the resolution or trust356
414	414		indenture into a sinking fund, which said sinking fund shall be pledged to, and charged with,357
415	415		the payment of:358
416	416		(1) The interest upon such revenue bonds as such interest shall fall due;359
417	417		(2) The principal of the bonds as the same shall fall due;360
418	418		(3) The necessary charges of a paying agent or agents for paying interest and principal;361
419	419		(4) Any premium upon bonds retired by call or purchase as hereinabove provided; and362
420	420		(5) Any other reasonable or necessary costs or expenses relating to such bond issue.363
421	421		The use and disposition of such sinking fund shall be subject to such regulations as may be364
422	422		provided in the resolution authorizing the issuance of the revenue bonds or in the trust365
423	423		indenture, however, except as may otherwise be provided in such resolution or trust366
424	424		indenture, such sinking fund shall be a fund for the benefit of all revenue bonds without367
425	425		distinction or priority of one over another. Subject to the provisions of the resolution368
426	426		authorizing the issuance of the bonds or in the trust indenture, surplus moneys in the sinking369
427	427		fund may be applied to the purchase or redemption of bonds and any such bonds so370
428	428		purchased or redeemed shall forthwith be canceled and shall not again be issued.371
429	429		H. B. 763
430		-	- 16 - 25 LC 62 0171~~/AP~~
	430	+	- 16 - 25 LC 62 0171
431	431		SECTION 21.
432	432		372
433	433		Remedies of bondholders.373
434	434		Any holder of revenue bonds issued under the provisions of this Act or any of the coupons374
435	435		appertaining thereto, and the trustee under the trust indenture, if any, except to the extent the375
436	436		rights herein given may be restricted by resolution passed before the issuance of the bonds376
437	437		or by the trust indenture, may, either at law or in equity, by suit, action, mandamus, or other377
438	438		proceedings protect and enforce any and all rights under the laws of the State of Georgia or378
439	439		granted hereunder or under such resolution or trust indenture, and may enforce and compel379
440	440		performance of all duties required by this Act or by such resolution or trust indenture, to be380
441	441		performed by the authority, or any officer thereof, including the fixing, charging, and381
442	442		collecting of revenues, fees, tolls, and other charges for the use of the facilities and services382
443	443		furnished.383
444	444		SECTION 22.384
445	445		Refunding bonds.385
446	446		The authority is authorized to provide by resolution for the issuance of revenue refunding386
447	447		bonds of the authority for the purpose of refunding any revenue bonds issued under the387
448	448		provisions of this Act and then outstanding, together with accrued interest thereon. The388
449	449		issuance of such revenue refunding bonds, the maturities, and all other details thereof, the389
450	450		rights of the holders thereof, and the duties of the authority in respect to the same shall be390
451	451		governed by the foregoing provisions of this Act insofar as the same may be applicable.391
452	452		H. B. 763
453		-	- 17 - 25 LC 62 0171~~/AP~~
	453	+	- 17 - 25 LC 62 0171
454	454		SECTION 23.
455	455		392
456	456		Validation.393
457	457		Bonds of the authority shall be confirmed and validated in accordance with said "Revenue394
458	458		Bond Law." The petition for validation shall also make party defendant to such action any395
459	459		municipality, county, authority, subdivision, or instrumentality of the State of Georgia or the396
460	460		United States government or any department or agency of the United States government, if397
461	461		subject to be sued, which has contracted with the authority for the services and facilities of398
462	462		the project for which bonds are to be issued and sought to be validated and such399
463	463		municipality, county, authority, subdivision, or instrumentality shall be required to show400
464	464		cause, if any, why such contract or contracts and the terms and conditions thereof should not401
465	465		be inquired into by the court and the validity of the terms thereof be determined and the402
466	466		contract or contracts adjudicated as security for the payment of any such bonds of the403
467	467		authority. The bonds when validated and the judgment of validation shall be final and404
468	468		conclusive with respect to such bonds against the authority issuing the same, and any405
469	469		municipality, county, authority, subdivision, or instrumentality of this state or the United406
470	470		States government if a party to the validation proceedings, contracting with the said407
471	471		Richmond Hill-Bryan County Airport Authority.408
472	472		SECTION 24.409
473	473		Venue and jurisdiction.410
474	474		Any action to protect or enforce any rights under the provisions of this Act or any suit or411
475	475		action against such authority shall be brought in the Superior Court of Bryan County,412
476	476		Georgia, and any action pertaining to validation of any bonds issued under the provisions of413
477	477		this Act shall likewise be brought in said court.414
478	478		H. B. 763
479		-	- 18 - 25 LC 62 0171~~/AP~~
	479	+	- 18 - 25 LC 62 0171
480	480		SECTION 25.
481	481		415
482	482		Interest of bondholders protected.416
483	483		While any of the bonds issued by the authority remain outstanding, the powers, duties, or417
484	484		existence of said authority or of its officers, employees, or agents shall not be diminished or418
485	485		impaired in any manner that will affect adversely the interest and rights of the holders of such419
486	486		bonds, and no other entity, department, agency, or authority shall be created which will420
487	487		compete with the authority to such an extent as to affect adversely the interest and rights of421
488	488		the holders of such bonds and, upon the issuance of bonds hereunder, the provisions hereof422
489	489		shall constitute a contract with the holders of such bonds.423
490	490		SECTION 26.424
491	491		Moneys received considered trust funds.425
492	492		All moneys received pursuant to the authority of this Act, whether as proceeds from the sale426
493	493		of revenue bonds, as grants or other contributions, or as revenues, income, fees, and earnings427
494	494		shall be deemed to be trust funds to be held and applied solely as provided in this Act.428
495	495		SECTION 27.429
496	496		Purpose of the authority.430
497	497		Without limiting the generality of any provisions of this Act, the general purpose of the431
498	498		authority is declared to be that of acquiring, constructing, equipping, maintaining, improving,432
499	499		and operating new public use, general aviation airports and landing fields for the use of433
500	500		aircraft, including any related buildings and the usual and convenient facilities appertaining434
501	501		to such undertakings and extensions and improvements of such facilities, acquiring the435
502	502		necessary property therefor, both real and personal, and to lease or sell any or all of such436
503	503		H. B. 763
504		-	- 19 - 25 LC 62 0171~~/AP~~
	504	+	- 19 - 25 LC 62 0171
505	505		facilities including real property, and to do any and all things deemed by the authority
506	506		437
507	507		necessary, convenient, or desirable for and incident to the efficient and proper development438
508	508		and operation of such types of undertakings.439
509	509		SECTION 28.440
510	510		Rates, charges, and revenues; use.441
511	511		The authority is authorized to prescribe and fix and collect rates, fees, tolls, and charges, and442
512	512		to revise, from time to time, and collect such rates, fees, tolls, and charges for the services,443
513	513		facilities, or commodities furnished, including leases, concessions, or subleases of its lands444
514	514		or facilities in accordance with assurances set forth in airport improvement and assistance445
515	515		agreements entered into between the authority and the Federal Aviation Administration, the446
516	516		Georgia Department of Transportation, or the United States Department of Transportation.447
517	517		This authority assumes no liability for obligations assumed by the Richmond Hill-Bryan448
518	518		County Airport Authority under prior agreements entered into between the County of Bryan449
519	519		or City of Richmond Hill with the Federal Aviation Administration. This authority shall450
520	520		maintain a fee and rental structure for the use of its land and facilities sufficient to make any451
521	521		airport or landing field operated by the authority as self-sustaining as possible under the452
522	522		circumstances existing at the particular airport, consistent with the obligation to operate such453
523	523		airports or landing fields for public use, on reasonable terms and without unjust454
524	524		discrimination, to all types, kinds, and classes of aeronautical activities, including455
525	525		commercial aeronautical activities offering services to the public at such airport or landing456
526	526		field.457
527	527		H. B. 763
528		-	- 20 - 25 LC 62 0171~~/AP~~
	528	+	- 20 - 25 LC 62 0171
529	529		SECTION 29.
530	530		458
531	531		Rules and regulations for operation of projects.459
532	532		It shall be the duty of the authority to prescribe rules and regulations for the operation of the460
533	533		project or projects constructed under the provisions of this Act, including the basis on which461
534	534		airports and landing fields for the use of aircraft shall be furnished. Before undertaking462
535	535		performance of any airport or landing field operations, the authority shall procure and463
536	536		maintain in force at all times sufficient liability insurance covering aviation related risks for464
537	537		their operations. At all times relevant hereto, the authority shall operate its airports and465
538	538		landing fields in accordance with grant assurances entered into with the Federal Aviation466
539	539		Administration, the Georgia Department of Transportation, or the United States Department467
540	540		of Transportation.468
541	541		SECTION 30.469
542	542		Powers declared supplemental and additional.470
543	543		The foregoing sections of this Act shall be deemed to provide an additional and alternative471
544	544		method for the doing of the things authorized thereby and shall be regarded as supplemental472
545	545		and additional to powers conferred by other laws and shall not be regarded as in derogation473
546	546		of any powers now existing.474
547	547		SECTION 31.475
548	548		Liberal construction of Act.476
549	549		This Act being for the purpose of promoting the health, morals, and general welfare of the477
550	550		citizens of the United States, of the State of Georgia, of Bryan County and of the City of478
551	551		Richmond Hill shall be liberally construed to effect the purposes hereof.479
552	552		H. B. 763
553		-	- 21 - 25 LC 62 0171~~/AP~~
	553	+	- 21 - 25 LC 62 0171
554	554		SECTION 32.
555	555		480
556	556		Effective date.481
557	557		This Act shall become effective upon its approval by the Governor or upon its becoming law482
558	558		without such approval.483
559	559		SECTION 33.484
560	560		Repealer.485
561	561		All laws and parts of laws in conflict with this Act are repealed.486
562	562		H. B. 763
563	563		- 22 -