The authority, or any authority or body which has or which may in the future succeed
to the powers, duties and liabilities vested in the authority created in this Act,
shall have the power and is authorized to provide by resolution for the issuance of
negotiable revenue bonds of the authority, for the purpose of paying all or part of
the cost as defined in this Act of any one or more projects. The principal and interest
of such revenue bonds shall be payable solely from the special fund provided in this
Act for such payment. The bonds of each issue shall be dated, shall bear interest
from date at such rate or rates per annum payable at such time or times as shall be
determined by the authority, principal shall mature at such time or times not exceeding
40 years from their date or dates, shall be payable in such medium of payment as to
both principal and interest as may be determined by the authority and may be made
redeemable before maturity, at the option of the authority, at such price or prices
and under such terms and conditions as may be fixed by the authority in the resolution
providing for the issuance of bonds.
(1999 Ga. Laws (Act No. 283, page 4815, § 7)
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