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AN ACT
To create and establish the Gilmer County Building Authority, a body corporate and
politic and an instrumentality of the State of Georgia; to authorize the authority
to acquire, construct, equip, maintain, and operate certain projects, including buildings
and facilities for use by Gilmer County for its governmental, proprietary, and administrative
functions; to provide for members of the authority and their terms, organization,
and reimbursement; to provide for vacancies; to define certain terms and words; to
confer powers and impose duties on the authority; to grant limitations to the authority;
to authorize the authority to enter into contracts and leases pertaining to uses of
such facilities, which contracts and leases may obligate the lessees to make payment
for the use of the facilities for the term thereof and to pledge for that purpose
money derived from taxation; to provide that no debt of Gilmer County or the State
of Georgia shall be incurred by the exercise of any of the powers granted; to authorize
the issuance of revenue bonds of the authority payable from the revenues, rents, and
earnings and other functions of the authority to pay the costs of such projects; to
authorize the collecting and pledging of such revenues, rents, and earnings for the
payment of such bonds; to authorize the adoption of resolutions and the execution
of trust indentures to secure the payment of such bonds and to define the rights of
the holders of such bonds; to provide for a sinking fund; to make the bonds of the
authority exempt from taxation; to provide the right and power for the authority to
condemn property of every kind and character; to authorize the issuance of refunding
bonds; to provide for the validation of such bonds and to fix the venue for jurisdiction
of actions relating to any provision of this Act; to exempt the property and income
of the authority from taxation; to provide for immunity and exemption from liability
for torts and negligence; to provide that the property of the authority shall not
be subject to levy and sale; to provide that certain moneys are trust funds; to provide
that this Act shall be liberally construed; to define the scope of the authority's
operation; to provide for disposition of property upon authority dissolution; to provide
for severability; to provide an effective date; to repeal conflicting laws; and for
other purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
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