GA HB953

Creates the City of Statesboro Public Facilities Authority as a public body corporate and instrumentality of the State of Georgia to acquire, construct, equip, maintain, and operate buildings and facilities for use by the City of Statesboro for governmental, proprietary, and administrative functions.

Authority consists of 5 members appointed by the City of Statesboro governing authority, with no more than 2 members being from the governing authority; non-governing authority members serve 3-year terms, and members receive no compensation but may be reimbursed for expenses.

Authorizes the authority to issue revenue bonds payable from rents, revenues, and earnings to finance projects including buildings, utilities, sewers, storm water management, historic preservation, natural gas distribution, telecommunications, and broadband services.

Revenue bonds do not constitute debt of the State of Georgia or City of Statesboro, and bonds and income therefrom are exempt from all taxation within Georgia; the authority's property is exempt from taxes and assessments but not from sales and use tax.

Projects must be located within the jurisdictional limits of the City of Statesboro, and upon dissolution of the authority after full payment of bonded indebtedness, all property transfers to the City of Statesboro.