Bill Text: GA HB203 | 2009-2010 | Regular Session | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Local government; development authorities; clarify certain terms
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: (Passed) 2010-05-07 - Effective Date [HB203 Detail]
Download: Georgia-2009-HB203-Comm_Sub.html
Bill Title: Local government; development authorities; clarify certain terms
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: (Passed) 2010-05-07 - Effective Date [HB203 Detail]
Download: Georgia-2009-HB203-Comm_Sub.html
10 LC 21
0795S
House
Bill 203 (COMMITTEE SUBSTITUTE)
By:
Representatives Jacobs of the
80th,
Chambers of the
81st,
Millar of the
79th,
and Levitas of the
82nd
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Title 36 of the Official Code of Georgia Annotated, relating to local
government, so as to clarify certain terms; to clarify the application of the
referendum requirement for the issuance of bonds by certain authorities; to
revise the limitations on the use of bond funds; to provide for certain
approvals for the issuance of bonds; to provide an exception; to provide for
related matters; to provide an effective date; to repeal conflicting laws; and
for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Title
36 of the Official Code of Georgia Annotated, relating to local government, is
amended by revising Code Section 36-75-11, relating to resolutions and
referendums required prior to issuance of bonded indebtedness for new projects,
as follows:
"36-75-11.
(a)
On and after May 24, 2007, no public safety and judicial facilities authority
created and activated by a single county pursuant to this chapter shall be
authorized to issue
bonded
indebtedness
bonds
for new projects unless a resolution approving such projects passed by a
majority vote of the governing authority of the county that created and
activated such authority was ratified by the electors of the county in a
referendum.
(b)
If
The proceeds
of bonds issued by a public safety and
judicial facilities authority created and activated by a single county pursuant
to this chapter
desires to
fund multiple projects in a bond issue, such
projects
and any
interest on such proceeds shall be
ranked in
the order they will be funded after approval by the governing authority and
ratification by the electors under this Code section. Such order of funding
shall be binding on the public safety and judicial facilities authority and such
projects shall be funded in the order approved unless a different order is
submitted to the governing authority for approval and electors for
ratification
used only for
the projects set forth in the resolution approving the issuance of such bonds or
for debt service on such
bonds.
(c)
Any authority other than the type of authority defined in paragraph (1) of Code
Section 36-75-3:
(1)
Which is authorized by general or local Act to operate and
incur
bonded indebtedness
issue
bonds in a single county that has
activated or that activates a public safety and judicial facilities authority
pursuant to this chapter; and
(2)
Which constructs or operates buildings or facilities for use by any department,
agency, division, or commission of any county that has activated or that
activates a public safety and judicial facilities authority pursuant to this
chapter
shall
obtain approval by resolution and referendum as provided in this Code section
prior to issuing bonds for any new
buildings,
or
facilities, or
real property or improvements to existing
buildings,
or
facilities, or
real property and shall be bound to such resolution as provided in subsection
(b) of this Code section.
(d)
Subsections (a), (b), and (c) of this Code section shall apply only to the
issuance of bonds the principal and interest of which will be repaid, directly
or indirectly, in whole or in part, through funds of the county by agreement
between the county and:
(1)
A public safety and judicial facilities authority created and activated pursuant
to this chapter; or
(2)
Any authority other than the type of authority defined in paragraph (1) of Code
Section 36-75-3 that meets the conditions set forth in paragraphs (1) and (2) of
subsection (c) of this Code section.
(e)
The provisions of this Code section shall not apply under any circumstances to
the issuance of 'recovery zone economic development bonds' and 'recovery zone
facility bonds' as such terms are defined in Section 1401 of the federal
American Recovery and Reinvestment Act of
2009."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.