(a)(1) The authority is authorized to fix and to revise from time to time fees, rentals, and other charges for the use of each project and for the services and facilities furnished by the same and to charge and collect such charges and to lease and to make contracts with any agency or department of the state with respect to the use of any project or part thereof. Such rentals and other charges shall be so fixed and adjusted in respect to the aggregate thereof from the project or projects for which a single issue of revenue bonds is issued, as to provide a fund sufficient with other revenues of such project or projects, if any, to pay (A) the cost of maintaining, repairing, and operating the project or projects, including reserves for extraordinary repairs and insurance and other reserves required by the resolution or trust indenture, unless such cost shall be otherwise provided for, which cost shall be deemed to include the expenses incurred by the authority on account of the project or projects for water, light, sewer, and other services furnished by other facilities at such institution, and (B) the principal of the revenue bonds and the interest thereon as they shall become due.

(2) The rentals contracted to be paid by the Department of Human Resources or other contracting or leasing department, agency, or institution of the state to the authority under leases entered upon pursuant to this article shall constitute obligations of the state for the payment of which the good faith of the state is pledged. Such rentals shall be paid as provided in the lease contracts from funds appropriated for such purposes by the terms of the Constitution of Georgia. It shall be the duty of the Department of Human Resources or other contracting or leasing department, agency, or institution of the state to see to the punctual payment of all such rentals.

(3) In the event of any failure or refusal on the part of lessees punctually to perform any covenant or obligation contained in any lease entered upon pursuant to this article, the authority may enforce performance by any legal or equitable process against lessees; and consent is given for the institution of any such action.

(4) The authority shall be permitted to assign any rental due it by the lessees to a trustee or paying agent as may be required by the terms of any trust indenture entered into by the authority.

(b) The revenues and earnings derived from the project or projects for which a single issue of bonds is issued, except such part thereof as may be required to pay the cost of maintaining, repairing, and operating the project or projects and to provide such reserves therefor as may be provided for in the resolution authorizing the issuance of the revenue bonds or in the trust indenture, shall be set aside at such regular intervals as may be provided in such resolution or trust indenture in a sinking fund which is pledged to and charged with the payment of (1) the interest upon such revenue bonds as such interest shall fall due, (2) the principal of the bonds as the same shall fall due, (3) the necessary charges of paying agents for paying principal and interest, and (4) any premium upon bonds retired by call or purchase as provided in this article. The use and disposition of such sinking fund shall be subject to such regulations as may be provided in the resolution authorizing the issuance of the revenue bonds or in the trust indenture, but, except as may otherwise be provided in such resolution or trust indenture, such sinking fund shall be a fund for the benefit of all revenue bonds without distinction or priority. Subject to the provisions of the resolution authorizing the issuance of the revenue bonds of the trust indenture, any moneys in such sinking fund in excess of an amount equal to one year's interest on all revenue bonds then outstanding may be applied to the purchase or redemption of bonds. All revenue bonds so purchased or redeemed shall forthwith be canceled and shall not again be issued.

(c) It shall be the duty of the authority (1) to prescribe rules and regulations for the operation of each project constructed under this article, including rules and regulations to ensure maximum occupancy of each such project; (2) to impose rentals and other charges for the use of the facilities furnished by such project; and (3) to collect such charges from all persons served thereby or from those responsible for their support or their guardians, trustees, or other legal representatives.