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LA SB144
Bill
AI Summary
- Removes the $15 million cap on bonds or notes that the Vidalia Port Commission may have outstanding at any one time
- Eliminates the requirement that bonds constitute a general obligation of the commission with the full faith and credit of the city of Vidalia pledged
- Retains the commission's authority to issue negotiable bonds or notes with State Bond Commission approval, secured by revenues from operations, taxes, or other sources
- Allows the commission to continue securing bonds through conventional mortgages on properties and through gifts, grants, or donations from federal, state, or local sources
- Becomes effective upon signature by the governor
Legislative Description
Provides relative to the issuance of bonds by the Vidalia Port Commission. (gov sig) (EN SEE FISC NOTE LF EX See Note)
LOCAL FINANCE
Last Action
Effective date 6/11/2025.
6/11/2025
Committee Referrals
Ways and Means4/23/2025
Revenue & Fiscal Affairs4/4/2025
Full Bill Text
No bill text available