Title 50, Chapter 9, Section 2
( 50-9-2)
As used in this article and Article 2 of this chapter, the term: (1) "Authority" means the Georgia Building Authority, the same
being formerly known as the "State Office Building Authority."
The change in the name of the authority shall not affect the
rights, powers, privileges, or liabilities of the authority or of
any person under the provisions of this article and Article 2 of
this chapter. (2) "Bonds" or "revenue bonds" means any bonds issued by the
authority under this article and Article 2 of this chapter
including refunding bonds. (3) "Cost of the project" means the cost of construction; the cost
of all lands, properties, rights and easements, and franchises
acquired; the cost of all machinery and equipment; financing
charges; interest prior to and during construction and for one
year after completion of construction; cost of engineering,
architectural, and legal expenses and of plans and specifications
and other expenses necessary or incident to determining the
feasibility or practicability of the project; administrative
expense and such other expenses as may be necessary or incident to
the financing herein authorized, the construction of any project,
the placing of the same in operation, and the condemnation of
property necessary for such construction and operation. Any
obligation or expense incurred for any of the foregoing purposes
shall be regarded as a part of the cost of the project and may be
paid or reimbursed as such out of the proceeds of revenue bonds
issued under Article 2 of this chapter for such project. (4) "Project" means and includes one or a combination of two or
more of the following: buildings and facilities intended for use
as offices and related uses and all structures, including
electric, gas, steam, and water utilities and facilities of every
kind and character deemed by the authority necessary or convenient
for the efficient operation of any department, board, commission,
or agency of the state. Without limiting the foregoing and
without further determination of necessity or convenience, the
word "project" also means and includes public parks and public
parking facilities adjacent to the state capitol other than the
facilities within or connected to state owned or state leased
buildings; a parking facility on the "Old Incinerator" site
acquired in 1983 by the State of Georgia from the City of Atlanta
in Fulton County, Georgia; an executive mansion and buildings,
structures, and facilities of every kind and character for use in
conjunction with the mansion regardless of whether the buildings,
structures, and facilities are physically connected with such
mansion; a Department of Transportation laboratory and buildings,
structures, and facilities of every kind and character for use in
conjunction with the laboratory, regardless of whether the
buildings, structures, and facilities are physically connected
with the laboratory, provided that the buildings, structures, and
facilities are built and constructed on property owned by the
Department of Transportation at Forest Park, Georgia. (5) "Self-liquidating project" means any project or combination of
projects if, in the judgment of the authority, the revenues to be
derived by the authority from rentals of the project or projects
will be sufficient to pay the cost of maintaining, repairing, and
operating the project and to pay the principal and interest of
revenue bonds which may be issued for the cost of the project,
projects, or combination projects. |