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GA SB638
Bill
Status
Passed
4/25/2022
Primary Sponsor
Tonya Anderson
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AI Summary
- Creates the Rockdale County Public Facilities Authority as a political subdivision of the State of Georgia, with five appointed members serving three-year terms (after staggered initial terms), appointed by the board of commissioners chairperson, other commissioners, the chief judge of Superior Court, and the district attorney
- Authorizes the authority to acquire, construct, operate, and maintain public buildings, facilities, and equipment for Rockdale County, with operations limited to county boundaries
- Grants the authority power to issue revenue bonds with a maximum maturity of 40 years to finance self-liquidating projects, with bonds payable solely from authority revenues and not constituting a debt of the state or county
- Caps total revenue bonds and other debts at $110 million, with annual debt service not to exceed 10% of the county's general fund revenues
- Provides for the authority's dissolution on January 1, 2065, at which point all assets revert to Rockdale County
Legislative Description
Rockdale County Public Facilities Authority; create
Last Action
Effective Date 2022-04-25
4/25/2022
Committee Referrals
Intragovernmental Coordination3/28/2022
State and Local Governmental Operations3/25/2022
Full Bill Text
No bill text available