Title 20, Chapter 3, Section 154
( 20-3-154)
The authority or any authority or body which has or which may in the
future succeed to the powers, duties, and liabilities vested in the
authority created by this article shall have power at one time or
from time to time to provide by resolution for the issuance of
negotiable revenue bonds of the authority for the purpose of paying
all or any part of the cost, as defined in this article, of any one
project or combination of projects. The principal and interest of
such revenue bonds shall be payable solely from the special fund
provided in this article for such payment. The bonds of each issue
shall be dated; shall bear interest at such rate or rates as may be
determined by the authority, payable semiannually; shall mature at
such time or times not exceeding 30 years from their date or dates,
except that "Georgia Education Authority (University) Student
Housing Revenue Bonds" may mature at such time or times not
exceeding 40 years from their date or dates; shall be payable in
such medium of payment as to both principal and interest as may be
determined by the authority; and may be made redeemable before
maturity, at the option of the authority, at such price or prices
and under such terms and conditions as may be fixed by the authority
in the resolution providing for the issuance of the bonds. |