The authority may, in the resolution providing for the issuance of revenue bonds or in the trust indenture, provide for the payment of the proceeds of the sale of the bonds to any officer or person who shall act as trustee or any agency, bank, or trust company or to the Georgia State Financing and Investment Commission acting under contract with the authority, which officer, person, bank, trust company, or agency shall act as trustee of such funds and shall hold and apply the same to the purposes set forth in or through this article, subject to such regulations as this article and Article 1 of this chapter, or as the resolution or trust indenture, may provide.
History. Code 1981, § 10-9-53 , enacted by Ga. L. 1988, p. 556, § 4; Ga. L. 1989, p. 1195, § 10; Ga. L. 2017, p. 774, § 10/HB 323.
The 2017 amendment, effective May 9, 2017, part of an Act to revise, modernize, and correct the Code, revised punctuation in this Code section.
Structure Georgia Code
Chapter 9 - Geo. L. Smith Ii Georgia World Congress Center
§ 10-9-40. Issuance of Bonds Authorized; Purpose
§ 10-9-41. Terms and Conditions of Bonds; Form
§ 10-9-44. Sale of Bonds; Interest Rate
§ 10-9-45. Use of Proceeds; Issuance of Additional Bonds in Case of Deficit; Use of Surplus
§ 10-9-46. Interim Revenue Receipts, Certificates, or Bonds
§ 10-9-47. Replacement of Mutilated, Destroyed, or Lost Bonds
§ 10-9-48. Proceedings and Conditions for Issuance; Resolution
§ 10-9-49. Lease of Facilities; Terms and Conditions; Contracts With Public Entities
§ 10-9-50. Enforceability Against Authority; Limitation on State Liability
§ 10-9-52. Enforcement of Rights by Bondholder, Receiver, or Indenture Trustee
§ 10-9-53. Payment of Sale Proceeds to Trustee
§ 10-9-56. Bonds Made Securities for Investment and Deposit Purposes
§ 10-9-57. Validation of Bonds; Applicability of “Revenue Bond law.”
§ 10-9-58. Legislative Findings; State Covenants
§ 10-9-59. Inapplicability of “Georgia Uniform Securities Act of 2008.”