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Georgia State Code
Title       2
Chapter      10  
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Section1 2 3 4 5 6 7 8 9 10 >>>  
Title 2, Chapter 10, Section 2 (2-10-2)

As used in this article, the term:

(1) "Authority" means the Georgia Building Authority (Markets), formerly known as the "Georgia Farmers Market Authority." All references in this article or in any lease, contract, or other agreement to "Georgia Farmers Market Authority" or "authority" shall be construed to mean the Georgia Building Authority (Markets) and such change in name of the authority shall in no way affect the identity of the authority or the rights, powers, privileges or liabilities of the authority or any person under this article.

(2) "Bonds" or "revenue bonds" means any bonds issued by the authority under this article, including refunding bonds.

(3) "Cost of the project or projects" means:

(A) The cost of construction;

(B) The cost of all land, properties, franchises, and rights in property;

(C) The cost of all machinery and equipment necessary for operation of a project;

(D) Financing charges;

(E) Interest prior to and during construction;

(F) The cost of engineering and architectural services, plans and specifications, surveys, and supervision;

(G) Legal expenses;

(H) Expenses necessary or incident to determining the feasibility or practicability of the project;

(I) Administrative expenses;

(J) Fiscal expenses and such other expenses as may be necessary or incident to the financing authorized by this article;

(K) The expense of construction of any action permitted by this article with respect to a particular project and the placing of the same in operation; and

(L) Any other expense authorized by this article to be incurred by the authority which is incurred with respect to any action as regards a particular project.

In addition, any obligation or expense incurred for any of the purposes listed in this paragraph shall be regarded as a cost of the project and may be paid or reimbursed as such out of the proceeds of bonds issued under this article for such project or group of projects.

(4) "Farmers' market" means any place located within this state where farmers may bring or send to sell, exhibit, or transship, and buyers may come to buy, inspect, or transport any product of husbandry or agriculture, including, without limitation, the produce of field and farm, livestock, poultry, and the like. The term shall include all real and personal property, buildings, warehouses, storage facilities, barns, exhibition halls, and other structures, facilities, utilities, parking areas, streets, tracks, and other appurtenances of every kind and character used or useful at such place in promoting the buying and selling of agricultural and farm products. The term shall also include not only such places as may now or hereafter exist, but also those which may be planned, built, or constructed by the authority and those to which the authority has undertaken or agreed to undertake any action permitted by this article.

(5) "Project" means one or more farmers' markets, either existing or planned by the authority, as to which the authority has undertaken or agreed to undertake any action permitted by the terms of this article, or as to which any such action has been completed by the authority.

(6) "Self-liquidating," as used in reference to a project or group of projects, means a project or group of projects from which the revenues, rents, and earnings derived by the authority, in the judgment of the authority, will be sufficient to pay the principal of and interest on bonds which may be issued for the cost of such project or group of projects plus the cost of maintaining, repairing, and operating such projects and any other lawful expenses of the authority.

Sunday May 24 05:37 EDT


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