Immediately upon the approval of this part, or as soon thereafter as practicable, the authority shall prepare and publish a conversion price for each residential lot then under lease, stating the price at which the lot may be purchased from the authority. Thereafter the authority shall publish at the same time and in the same manner as schedules of lease rentals are published, as required by Code Section 12-3-249, a conversion price for each residential lot that is available for lease. The conversion price for residential lots shall not be less than the appraised value of such lots, taking into consideration the market value of comparable resort property in Glynn County, as determined by an appraisal or appraisals made or to be made by the Glynn County Real Estate Board. Every lease which the authority may grant for a residential lot shall contain therein the conversion price at which the lot may be purchased.
History. Ga. L. 1957, p. 608, § 4.
Structure Georgia Code
Title 12 - Conservation and Natural Resources
Chapter 3 - Parks, Historic Areas, Memorials, and Recreation
Article 7 - Public Authorities
Part 1 - Jekyll Island—state Park Authority
§ 12-3-235. Powers of Authority Generally
§ 12-3-236. Exercise of Police Power of Authority; Delegation of Power to State or County
§ 12-3-236.2. Continuation of Ordinances and Resolutions of Authority in Force as of April 13, 1981
§ 12-3-237. Rules and Regulations for Operation of Projects Authorized
§ 12-3-238. Easements and Rights of Way for Intracoastal Waterway
§ 12-3-239. Establishment of Museum
§ 12-3-240. Transfer of Funds to Authority; Cooperation Between Authority and Department
§ 12-3-242. Lease Payments by Authority as Constituting Good, Valuable, and Sufficient Consideration
§ 12-3-243.1. Master Plan as to Jekyll Island; Maintenance; Contents; Adherence to Plan; Amendments
§ 12-3-254. Revenue Bonds — Signatures; Seal
§ 12-3-255. Revenue Bonds — Status as Negotiable Instruments
§ 12-3-256. Revenue Bonds — Manner of Sale; Determination of Price
§ 12-3-258. Revenue Bonds — Issuance of Interim Receipts, Interim Certificates, and Temporary Bonds
§ 12-3-259. Revenue Bonds — Replacement of Mutilated, Destroyed, or Lost Bonds
§ 12-3-262. Revenue Bonds — Securing by Trust Indenture
§ 12-3-263. Revenue Bonds — Payment of Proceeds to Trustee
§ 12-3-265. Revenue Bonds — Remedies of Bondholders, Coupon Holders, and Trustees
§ 12-3-266. Revenue Bonds — Revenue Refunding Bonds
§ 12-3-267. Revenue Bonds — Status as Legal Investment and as Securities for Deposits
§ 12-3-269. Revenue Bonds — Validation
§ 12-3-271. Utilization of Income and Revenues
§ 12-3-272. Acceptance by Authority of Grants and Contributions
§ 12-3-273. Moneys Received by Authority as Constituting Trust Funds
§ 12-3-274. Authority Property, Activities, Income, and Bonds Exempt From Taxation and Assessment
§ 12-3-275. Venue and Jurisdiction for Actions Under Part