Bill Text: GA HB1493 | 2009-2010 | Regular Session | Introduced
Bill Title: Public Facilities Authority of Telfair County Act; enact
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2010-06-02 - Effective Date [HB1493 Detail]
Download: Georgia-2009-HB1493-Introduced.html
10 LC
25 5709ER/AP
House
Bill 1493 (AS PASSED HOUSE AND SENATE)
By:
Representative Roberts of the
154th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
create the Public Facilities Authority of Telfair County; to provide for a short
title; to provide for definitions; to provide for its purpose; to provide for
its powers; to provide for the membership of the authority and their terms of
office, qualifications, and compensation; to provide for the issuance and sale
of revenue bonds and other obligations; to provide that such revenue bonds and
other obligations are not general obligations; to provide for trust indentures;
to provide for the security for such revenue bonds and other obligations; to
provide for refunding revenue bonds and other obligations; to provide for a
principal office; to provide for validation; to provide for no impairment of
rights; to provide for trust funds and investments; to provide for the power to
set rates, fees, and charges; to provide for exemptions from taxation; to
provide for tort immunity; to provide for exemptions from levy and sale; to
provide for its area of operation; to provide for supplemental powers; to
provide for no power to impose taxes or exercise the power of eminent domain; to
provide for the conveyance of property upon dissolution; to provide for liberal
construction; to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Short title.
Short title.
This
Act shall be known and may be cited as the "Public Facilities Authority of
Telfair County Act."
SECTION
2.
Definitions.
Definitions.
As
used in this Act, the following terms shall have the meaning specified unless
the context or use clearly indicates a different meaning or intent:
(1)
"Authority" means the Public Facilities Authority of Telfair County created by
this Act.
(2)
"Cost of the project" shall include: (A) the cost of construction; (B) the cost
of all land and interests therein, properties, rights, easements, and franchises
acquired; (C) the cost of acquiring, constructing, or erecting buildings,
improvements, materials, labor, and services; (D) the cost of all fixtures,
furnishings, machinery, and equipment; (E) issuance costs, including, but not
limited to, fees or discounts of underwriters or placement agents, the funding
of reserve accounts, financing charges, including interest prior to and during
the construction or acquisition of any project and for up to one year after such
project is placed into service and operational at the level intended; (F) the
cost of construction, engineering, architectural, fiscal, accounting,
inspection, and legal expenses relating to a project or to the financing or
refinancing of any project and other expenses necessary or incident to
determining the feasibility or practicability of any project; and (G)
administrative expenses relating to any project or the financing or refinancing
thereof, and such other expenses as may be necessary or incident to the
financing or refinancing of a project herein authorized, the acquisition,
construction, renovation, reconstruction, or remodeling of a project, and the
placing of the same in operation. Any obligation or expense incurred for any of
the foregoing purposes shall be regarded as part of the cost of the project and
may be paid or reimbursed as such out of any funds of the authority, including
proceeds of any revenue bonds or other obligations issued under the provisions
hereof for any such project or projects and the proceeds of the sale of any
contracts, lease agreements, or installment sales agreements or the amounts
payable thereunder, either directly or by the creation of interests
therein.
(3)
"County" means Telfair County, Georgia, or its successor.
(4)
"Obligations" means and includes revenue bonds, bond anticipation notes, other
promissory notes, certificates of participation, custodial receipts, or other
similar instruments creating interests in any contracts, lease agreements, or
installment sales agreements or in the amounts payable to the authority,
directly or indirectly, thereunder.
(5)
"Private person" means any individual or any legal entity, other than a public
body, whether operated for profit or not for profit.
(6)
"Project" means any capital project which may be financed with revenue bonds
under general laws in effect from time to time, which is located or to be
located in the county, that is determined by the authority to promote the public
good or general welfare of the citizens of the county, or of the state, or any
of its enterprises or systems, including, but not limited to, the acquisition,
construction, renovation, improvement, extension, addition, or equipping within
the county of: (A) utility systems and improvements, including without
limitation water and sewer systems and facilities, sewage and solid waste
disposal systems and facilities, and electric, gas, and other similar facilities
and systems; (B) emergency facilities, including emergency, fire, police, and
rescue facilities and equipment; (C) recreational facilities, including parks,
athletic fields, buildings, or facilities and other similar facilities or
related equipment; (D) public safety facilities, including prisons, jails,
police stations, facilities, or equipment, and state patrol or other law
enforcement facilities or equipment; (E) educational, cultural, or historical
facilities and equipment; (F) administrative facilities or equipment, including
municipal buildings and other governmental buildings; (G) courthouses, public
libraries, and jails; (H) facilities relating to aviation, including, but not
limited to, airports, airfields, airport terminals, hangars, control towers, and
facilities for the repair and maintenance of aircraft; and (I) other facilities;
any project may be leased to, subleased to, operated, or otherwise used by the
authority or any other public body or any private person.
(7)
"Public bodies" means and includes the United States of America and any federal
agency, department, authority, or any branch of its armed services; any county,
political subdivision, or municipality of the state; and any state or local
government agency, department, authority, agency, board, authority, or
instrumentality, each being a "public body."
(8)
"Revenue bonds" means revenue bonds issued by the authority pursuant to the
terms of this Act or under Article 3 of Chapter 82 of Title 36 of the O.C.G.A.,
known as the "Revenue Bond Law."
(9)
"State" means the State of Georgia.
SECTION
3.
Creation of authority: purpose.
Creation of authority: purpose.
There
is created a body corporate and politic to be known as the "Public Facilities
Authority of Telfair County," which shall be deemed to be a public corporation.
Such corporation shall be separate and distinct from any public corporation or
other entity heretofore created by the General Assembly and shall be an
instrumentality of the state exercising governmental and proprietary powers.
The authority is created for the purpose of promoting the public good and
general welfare of the citizens of the county and of the state and financing and
providing facilities, equipment, and services within the county, for sale to,
lease or sublease to, or operation by any public body or any private person. In
connection with the exercise of any of its powers, the members of the authority
may make findings or determinations that the exercise of its powers as proposed
will promote the public good and general welfare and assist public bodies in
providing facilities, equipment, and services in the county, and such findings
or determinations, if made, shall be conclusive and binding and shall not be
subject to review.
SECTION
4.
Powers of the authority.
Powers of the authority.
The
authority shall have the power:
(1)
To sue and be sued;
(2)
To have and to use a seal and to alter the same at its pleasure;
(3)
To acquire, construct, purchase, hold, own, lease as lessee, expand, improve,
renovate, repair, maintain, and operate real and personal property or interests
therein;
(4)
To enter into contacts for operation, management, maintenance, and repair of any
of its property and for other purposes;
(5)
To sell, lease as lessor, or otherwise transfer, pledge, or dispose of any real
and personal property or interests therein. In connection with any such lease,
sale, transfer, assignment, or other disposition, to the extent allowed by
general law, the authority need not comply with any other provision of law
requiring public bidding or any notice to the public of such lease, sale,
transfer, assignment, or other disposition;
(6)
To exercise the powers conferred upon a "public corporation" or a "public
authority" by Article IX, Section III, Paragraph I of the Constitution of
Georgia, such authority being expressly declared to be a "public corporation" or
a "public authority" within the meaning of such provision of the Constitution of
Georgia;
(7)
To acquire projects and other property in its own name by gift or by purchase on
such terms and conditions and in such manner as it may deem proper. If the
authority shall deem it expedient to construct any project on real property or
any interest therein or usufruct therein which is subject to the control of any
other public body, then such other public body is hereby authorized to convey or
lease such real property or interest therein to the authority for no
consideration or for such consideration as may be agreed upon by the authority
and such other public body, taking into consideration the public benefit to be
derived from such conveyance, lease, or usufruct. Any public body may transfer
such real property or interest therein without regard to any determination as to
whether or not such property or interest therein is surplus;
(8)
To accept gifts and bequests for its corporate purposes;
(9)
To appoint, select, and employ, with or without bidding as the authority may
choose, officers, agents, and employees, including engineering, architectural,
and construction experts, fiscal agents, underwriters or other advisors, and
attorneys, and to fix their compensation;
(10)
To make and execute with one or more public bodies and private persons
contracts, lease agreements, rental agreements, installment sale agreements, and
other instruments relating to the property of the authority and incident to the
exercise of the powers of the authority, including contracts for constructing,
renting, leasing, and selling its projects for the benefit of other public
bodies, and, without limiting the generality of the foregoing, authority is
specifically granted to the authority and to other public bodies to enter into
contracts, lease agreements, rental agreements, installment sale agreements, and
related agreements with each other relating to the provision of any project or
services for a term not exceeding 50 years, as provided in Article IX, Section
III, Paragraph 1(a) of the Constitution of Georgia;
(11)
To the extent not prohibited by the Constitution of the state or by general law,
to be a co-owner, along with other public bodies and private persons, of any
property or business entity if the authority finds and determines that such
co-ownership is in the best interests of the authority and will serve the public
purposes of the authority;
(12)
To purchase policies of insurance as may be deemed appropriate for its corporate
purposes;
(13)
To operate, lease, sell, transfer, or otherwise dispose of any property, real or
personal, or assets of the authority, or to assign its rights under its
contracts, lease agreements, or installment sale agreements or its right to
receive payments thereunder, either directly or through trust or custodial
arrangements whereby interests are created in such contracts, lease agreements,
or installment sale agreements or the payments to be received thereunder through
the issuance of trust certificates, certificates of participation, custodial
receipts, or other similar instruments. In connection with any such lease,
sale, transfer, assignment, or other disposition, the authority need not comply
with any other provision of law requiring public bidding or any notice to the
public of such lease, sale, transfer, assignment, or other
disposition;
(14)
To accept loans and grants of money or property of any kind from the United
States, or any public body or private person, and all public bodies are
authorized to make grants to the authority, subject to any limitations in the
Constitution of Georgia;
(15)
To borrow money for any of its corporate purposes and to issue revenue bonds and
other obligations payable from funds or revenues of the authority pledged for
that purpose and to pledge and assign any of its revenues, income, rents,
charges, and fees to provide for the payment of the same and to provide for the
rights of the holders of such obligations;
(16)
To enter into: (A) interest rate swaps, collars, or other types of interest rate
management agreements; or (B) credit enhancement or liquidity agreements
relating to any obligations of the authority, provided that the obligation of
the authority under such agreements shall not be a general obligation of the
authority but shall be a limited obligation of the authority payable from a
specific source of funds identified for such purpose;
(17)
To make such rules and regulations governing its employees and property as it
may in its discretion deem proper;
(18)
To be sued the same as any private corporation on any contractual obligation of
the authority. The authority shall have the same rights to sue any other person
or entity as any private corporation;
(19)
To issue its revenue bonds or other obligations to finance or refinance any
project which may be financed by any public body; and
(20)
To have and exercise usual powers of private corporations except such as are
inconsistent with this Act or inconsistent with general law, and to do any and
all things necessary and convenient to accomplish the purpose and powers of the
authority as herein stated.
SECTION
5.
Members of the authority: terms of office.
Members of the authority: terms of office.
(a)
Each person who is serving as a member of the Development Authority of Telfair
County when this Act first becomes law shall also serve as an initial member of
the authority for a term of office ending upon the expiration of such person's
current term of office as a member of the Development Authority of Telfair
County. Thereafter, the members of the Board of Commissioners of Telfair County
shall appoint the members of the authority for terms of office that shall be the
same as and shall run concurrently with the terms of office of such members of
the Board of Commissioners of Telfair County. In the event a vacancy occurs as
to a member of the authority during the term of office of such member, the Board
of Commissioners of Telfair County shall appoint a successor for the remainder
of the unexpired term. A majority of the members of the authority holding
office at any time shall constitute a quorum, and no vacancy on the authority
shall impair the right of the quorum to exercise all the rights and perform all
the duties of the authority, and, in every instance, a majority vote of a quorum
shall authorize any legal act of the authority, including all things necessary
to authorize and issue revenue bonds and other obligations.
(b) The members of the authority shall elect among themselves a president, vice president, and secretary-treasurer, except that by a majority vote of the entire membership, they may elect a person as secretary-treasurer who is not a member of the authority. The members of the authority shall not be entitled to compensation for their services as members of the authority but may be reimbursed for their actual expenses necessarily incurred in the performance of their duties.
(c) The authority may make rules and regulations for its own governance, and it shall have perpetual existence.
(d) Any change in name or composition of the authority shall in no way affect the vested rights of any private person or public body under the provisions of this Act or impair the obligations of any contracts existing under this Act.
(d) The Board of Commissioners of Telfair County, as officers of the county, may vote on transactions between the county and the authority, and the members of the authority may likewise vote on transactions between the county and the authority, and the same shall not be deemed to create any conflict of interest.
(b) The members of the authority shall elect among themselves a president, vice president, and secretary-treasurer, except that by a majority vote of the entire membership, they may elect a person as secretary-treasurer who is not a member of the authority. The members of the authority shall not be entitled to compensation for their services as members of the authority but may be reimbursed for their actual expenses necessarily incurred in the performance of their duties.
(c) The authority may make rules and regulations for its own governance, and it shall have perpetual existence.
(d) Any change in name or composition of the authority shall in no way affect the vested rights of any private person or public body under the provisions of this Act or impair the obligations of any contracts existing under this Act.
(d) The Board of Commissioners of Telfair County, as officers of the county, may vote on transactions between the county and the authority, and the members of the authority may likewise vote on transactions between the county and the authority, and the same shall not be deemed to create any conflict of interest.
SECTION
6.
Issuance and sale of revenue bonds and other obligations.
Issuance and sale of revenue bonds and other obligations.
The
authority shall have power and is authorized from time to time to provide for
the issuance and sale of negotiable revenue bonds in the manner provided by
Article 3 of Chapter 82 of Title 36 of the O.C.G.A., known as the "Revenue Bond
Law," and may issue other obligations for the purpose of paying all or any part
of the cost of any one or more projects, including the cost of constructing,
reconstructing, equipping, extending, adding to, or improving any such project,
or for the purpose of refunding, as herein provided, any such bonds or other
obligations of the authority or to refund bonds or other obligations of any
other authority or public body previously issued to finance or refinance the
cost of a project. The principal of and interest on such revenue bonds or other
obligations shall be a limited obligation of the authority payable solely from
the source or sources of funds specified in the indenture or resolution of the
authority authorizing the issuance of such revenue bonds or other obligations.
Such revenue bonds or other obligations shall mature on such dates, bear
interest at such rate or rates, whether fixed or variable, be subject to
redemption, and have such other terms as the authority may provide in the
indenture or resolution relating thereto. Such revenue bonds or other
obligations may be issued for cash, property, or other consideration and may be
sold in a negotiated sale or in a public sale at such price on such terms as the
authority may determine. The offer, sale, or issuance of bonds or other
obligations of the authority shall be exempt from registration to the extent
provided in Chapter 5 of Title 10 of the O.C.G.A., the "Georgia Uniform
Securities Act of 2008," as the same may be amended from time to
time.
SECTION
7.
Revenue bonds or other obligations not a debt or general obligation.
Revenue bonds or other obligations not a debt or general obligation.
Revenue
bonds or other obligations issued under the provisions of this Act or any loan
incurred as authorized herein shall not constitute a debt or a pledge of the
faith and credit of any other public body but shall be payable solely from the
sources as may be designated in the resolution or indenture of the authority
authorizing the issuance of the same. The issuance of such obligations shall
not directly, indirectly, or contingently obligate any public body to levy or to
pledge any form of taxation whatsoever for the payment thereof, unless otherwise
provided by an intergovernmental contract executed by such public body. No
holder of any bond or other obligation or receiver or trustee in connection
therewith shall have the right to enforce the payment thereof against any
property of any other public body nor shall any such bond or other obligation
constitute a charge, lien, or encumbrance, legal or equitable, upon any such
property, unless otherwise provided by an intergovernmental contract executed by
such other public body and the authority. All such obligations shall contain on
their face a recital setting forth substantially the foregoing provisions of
this section. Nothing in this section shall be construed to prohibit any other
public body from obligating itself to pay the amounts required under any
intergovernmental contract entered into with the authority pursuant to Article
IX of the Constitution of Georgia or any successor provision, including (if such
other public body has taxing power) from funds received from taxes to be levied
and collected by such other public body for that purpose and from any other
source.
SECTION
8.
Issuance of bonds or obligations under indentures or resolutions.
Issuance of bonds or obligations under indentures or resolutions.
In
the discretion of the authority, any issuance of such revenue bonds or other
obligations may be secured by a trust indenture by and between the authority and
a trustee, which may be any trust company or bank having the powers of a trust
company within or outside the state. Such trust indenture may pledge or assign
fees, tolls, rents, revenues, and earnings to be received by the authority,
including the proceeds derived from the financing, sale, or lease or operation
from time to time, of any project. Either the resolution providing for the
issuance of revenue bonds or other obligations or such trust indenture may
contain such provisions for protecting and enforcing the rights and remedies of
the owners of such bonds or obligations as may be reasonable and proper and not
in violation of law, including covenants setting forth the duties of the
authority or any lessee or purchaser in relation to the acquisition and
construction of any project, the maintenance, operation, repair, and financing
of any project, and the custody, safeguarding, and application of all moneys,
including the proceeds derived from the sale or lease of any project or from the
sale of any such revenue bonds or other obligations and may contain provisions
concerning the conditions, if any, upon which additional bonds or other
obligations may be issued, whether on a parity with or subordinate to any other
obligations issued by the authority. Such indenture or resolution may set forth
the rights and remedies of the owners of such obligations and of the trustee.
In addition to the foregoing, such trust indenture may contain such other
provisions as the authority may deem reasonable and proper for the security of
the owners of such bonds or other obligations or as otherwise necessary or
convenient in connection with the issuance of such obligations. All expenses
incurred in carrying out such trust indenture may be treated as a part of the
cost of maintenance, operation, and repair of the project affected by such
indenture.
SECTION
9.
Security for the payment of bonds or other obligations.
Security for the payment of bonds or other obligations.
The
authority may assign or pledge any property or revenues and its interest in any
contracts, lease agreements, or installment sales agreements, or the amounts
payable thereunder, to the payment of the principal and interest on revenue
bonds and other obligations of the authority as the resolution authorizing the
issuance of the bonds or other obligations or the trust indenture may provide.
The use and disposition of such property or revenues assigned to the payment of
bonds or other obligations shall be subject to the indenture or resolution
authorizing the issuance of such revenue bonds or obligations. Any lien created
by the authority for the payment of such bonds or obligations may be a first
lien or a subordinate lien as the authority may provide, and any such indenture
or resolution may provide, at the option of the authority, for the issuance of
additional bonds or other obligations sharing any lien on a parity or
subordinate lien basis.
SECTION
10.
Refunding bonds or obligations.
Refunding bonds or obligations.
The
authority is authorized to provide by resolution for the issuance of
obligations, whether revenue bonds or other obligations, for the purpose of
refunding any revenue bonds or other obligations issued under the provisions of
this Act or under any other provision of state law so long as such bonds or
other obligations were issued for a purpose or project for which the authority
could issue bonds or other obligations. The issuance of such refunding bonds or
other obligations and all the details thereof, the rights of holders thereof,
and the duties of the authority with respect to the same shall be governed by
the foregoing provisions of this Act insofar as the same may be
applicable.
SECTION
11.
Principal office: venue.
Principal office: venue.
The
principal office of the authority shall be in the county, and the venue of any
action against it shall be in the county. Service upon the authority of any
process, subpoena, or summons shall be effected by serving the same personally
upon any member of the authority.
SECTION
12.
Validation of revenue bonds: elective validation of other obligations.
Validation of revenue bonds: elective validation of other obligations.
Revenue
bonds of the authority shall be confirmed and validated in accordance with the
procedure now or hereafter set forth in Article 3 of Chapter 82 of Title 36 of
the O.C.G.A., known as the "Revenue Bond Law," as the same now exists or may
hereafter be amended. At the election of the authority, other obligations of
the authority may be validated as if they were revenue bonds. The petition for
validation shall name the authority as a defendant and may also make a party
defendant to such action any other private person or public body that has or
will contract with the authority with respect to the project for which revenue
bonds or other obligations are to be issued and are sought to be validated. The
bonds or other obligations, when validated, and the judgment of validation shall
be final and conclusive with respect to the validity of such bonds or other
obligations and the security therefor against the authority, other parties to
the validation, and all other private persons and public bodies, regardless of
whether such private persons or public bodies were parties to such validation
proceedings. Any action pertaining to the validation of any revenue bonds or
other obligations issued under the provisions of this Act and for the validation
of any instruments entered or to be entered into by the authority or other
private persons or public bodies securing the same shall be brought in the
Superior Court of Telfair County, and such court shall have exclusive original
jurisdiction of such actions.
SECTION
13.
No impairment of rights.
No impairment of rights.
While
any of the bonds or other obligations issued by the authority or any interests
in contracts of the authority remain outstanding, the powers, duties, or
existence of the authority or of its officers, employees, or agents shall not be
diminished or impaired in any manner that will affect adversely the interest and
rights of the holders of such bonds or obligations or such interests in
contracts of the authority. The provisions of this section of this Act shall be
for the benefit of the authority and of the holders of any such bonds or
obligations and interests in contracts of the authority and, upon the issuance
of bonds or obligations or the creation of interests in contracts of the
authority under the provisions of this Act, shall constitute a contract with the
holders of such bonds or obligations or such interests in contracts of the
authority.
SECTION
14.
Trust funds: permitted investments.
Trust funds: permitted investments.
All
moneys received by the authority pursuant to this Act, whether as proceeds from
the sale of revenue bonds or obligations of the authority, as grants or other
contributions, or as revenues, income, fees, and earnings, shall be deemed to be
trust funds to be held and applied solely as provided in this Act and in such
resolutions and trust indentures as may be adopted and entered into by the
authority pursuant to this Act. Any such moneys or funds may be invested from
time to time in such investments as may be permitted under the indenture,
agreement, or resolution establishing the fund or account in which such funds
are held, or if not held in such a fund or account, in such investments as would
be permitted for investments of a development authority created under Code
Section 36-62-1 of the O.C.G.A., et seq.
SECTION
15.
Power to set rates, fees, and charges.
Power to set rates, fees, and charges.
The
authority is authorized to operate, sell, or lease any project and to prescribe
and fix rates, fees, tolls, rents, and charges and to revise from time to time
and collect such revised rates, fees, tolls, rents, and charges for the
services, facilities, or commodities furnished, including leases, concessions,
and subleases of its projects, and to determine the price and terms at and under
which its projects may be sold, leased, or otherwise disposed of. The authority
may establish in its discretion procedures for contracting for any work done for
the authority or for the acquisition, sale, transfer, lease, management, or
operation of any property, real or personal, of the authority. The authority
may contract with others, including private persons, for services relating to
the management, operation, sale, or leasing of any project.
SECTION
16.
Revenue bonds or other obligations exempt from taxation.
Revenue bonds or other obligations exempt from taxation.
All
revenue bonds or other obligation issued as provided in this Act are declared to
be issued or incurred for an essential public and government purpose, and such
obligations and the interest thereon shall, to the extent not prohibited by
general law, be exempt from all taxation within this state, whether or not the
income on such bonds or other obligations is excludable from the gross income of
the holders thereof for federal income tax purposes.
SECTION
17.
Essential governmental function: no taxes or assessments.
Essential governmental function: no taxes or assessments.
It
is found, determined, and declared that the creation of the authority and the
carrying out of its corporate purposes are in all respects for the benefit of
the people of this state and constitute a public purpose, and that the authority
will be performing an essential governmental function in the exercise of the
powers conferred upon it by this Act. The property of the authority is declared
to be public property that is exempt from taxes under subparagraph (a)(1)(A) of
Code Section 48-5-41 of the O.C.G.A. To the extent not prohibited by general
law, the tax exemption for property of the authority shall extend to leasehold
interests of lessees thereof.
SECTION
18.
Immunity of authority and members.
Immunity of authority and members.
The
authority shall have the same immunity and exemption from liability for torts
and negligence as the county, and the officers, agents, and employees of the
authority, when in the performance of the work of the authority, shall have the
same immunity and exemption from liability for torts and negligence as the
officers, agents, and employees of the county.
SECTION
19.
Authority property not subject to levy and sale.
Authority property not subject to levy and sale.
The
property of the authority shall not be subject to levy and sale under legal
process, except this provision shall not preclude a sale or foreclosure of any
property under the terms of any deed to secure debt, mortgage, assignment, or
security agreement that the authority has executed.
SECTION
20.
Authority area of operation.
Authority area of operation.
The
scope of the authority's operations shall be limited to the territory embraced
within the territorial limits of the county, as the same now or may hereafter
exist; provided, however, that nothing in this section shall prevent the
authority from contracting with any entity or body, public or private, outside
of the county with respect to any project located in the county or located
outside of the county in furtherance of its public purposes.
SECTION
21.
Supplemental powers.
Supplemental powers.
This
Act shall not in any way take away from the authority any power which may be
conferred upon it by law but is supplemental thereto.
SECTION
22.
No power to impose taxes or exercise power of eminent domain.
No power to impose taxes or exercise power of eminent domain.
The
authority shall not have the right to impose any tax on any person or property
and shall not have the right to exercise the power of eminent
domain.
SECTION
23.
Conveyance of property upon dissolution.
Conveyance of property upon dissolution.
Should
the authority for any reason be dissolved after full payment of all revenue
bonds and other obligations of the authority and the termination of any leases,
contracts, or options to which the authority is a party, the interest and any
redemption premiums thereon, title to the items of property, and funds of the
authority held at the time of dissolution shall, prior to such dissolution, be
conveyed and transferred to such one or more public bodies as the authority
shall elect.
SECTION
24.
Act to be liberally construed.
Act to be liberally construed.
This
Act shall be liberally construed to effect the purposes hereof.
SECTION
25.
All
laws and parts of laws in conflict with this Act are repealed.