GA SB612

Creates the City of Cochran Public Facilities Authority as a public body corporate and instrumentality of the State of Georgia to acquire, construct, equip, maintain, and operate public facilities for the city's governmental and administrative functions

Authority consists of 7 members who serve concurrently on the City of Cochran governing authority, with 4 members constituting a quorum; members receive no compensation but may be reimbursed for actual expenses

Authorizes the authority to issue tax-exempt revenue bonds payable solely from rents, revenues, and earnings of projects—not from state or city tax revenues or credit

Projects may include buildings, sewers, storm water management, utilities, natural gas distribution, telecommunications, fiber, cable, broadband services, and historic preservation projects within City of Cochran limits

Authority property is exempt from taxation and levy/sale, and the authority has the same tort immunity as a Georgia county; upon dissolution, all property conveys to the City of Cochran