GA SB376

Creates the Covington Municipal Airport Authority as a political subdivision of Georgia with perpetual existence, tasked with acquiring, constructing, equipping, maintaining, and operating airports and related facilities in the Newton County area.

Establishes a seven-member board appointed by the City of Covington governing authority, with four members serving four-year terms and three serving three-year terms; all must be Newton County residents, at least 21 years old, and at least two must possess aviation expertise.

Grants the authority broad powers including acquiring property (by purchase, lease, gift, or condemnation), entering contracts and leases up to 50 years, employing staff, accepting federal and state loans and grants, setting fees and tolls, and prescribing rules and regulations for airport operations.

Authorizes the authority to issue negotiable revenue bonds with maturities up to 40 years to finance projects, with bonds payable solely from authority revenues and explicitly not constituting a debt or pledge of the City of Covington or Newton County.

Provides tax exemptions on authority property, activities, and bond income within Georgia, and grants the authority the same tort immunity as the City of Covington.