GA SB78

Creates the City of Tybee Island Building and 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 city governmental functions

Authority governed by five members appointed by Tybee Island City Council, with no more than two members being city council members; non-council members serve three-year terms and receive no compensation

Authorizes the authority to issue tax-exempt revenue bonds payable solely from rents, revenues, and earnings—not from state or city credit—to finance public facility projects within Tybee Island's jurisdictional limits

Grants the authority broad powers including acquiring property, entering contracts and leases, pledging revenues, borrowing money, and exercising police powers over its projects, with property exempt from taxes and levy/sale

Upon dissolution and full payment of bond indebtedness, all authority property transfers to the City of Tybee Island