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 hereby, shall
have power and is hereby authorized at one time, or from time to time, to provide
by resolution for the issuance of negotiable revenue bonds in a sum not to exceed
$400 million outstanding at any one time of the authority for the purpose of paying
all or any part of the cost as herein defined of any one or more projects. The principal
and interest of such revenue bonds shall be payable solely from the special fund herein
provided for such payment. The bonds of each issue shall be dated, shall bear interest
at such rate or rates not exceeding the interest allowed by Chapter 62 of Title 36 of the Official Code of Georgia Annotated, the "Revenue Bond Law," as
now or hereafter amended, payable semiannually, 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 the bonds.
