The bonds authorized in paragraph (8) of Code Section 32-10-63 and in Code Section 32-10-90 are deemed securities in which (1) all public officers and bodies of this state and all municipalities and all municipal subdivisions, (2) all insurance companies and associations and other persons carrying on an insurance business, (3) all banks, bankers, trust companies, savings banks and savings associations, including savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business, (4) all administrators, guardians, executors, trustees, and other fiduciaries, and (5) all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or other obligations of the state may properly and legally invest funds, including capital in their control or belonging to them. The bonds are also deemed securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and municipal subdivisions for any purpose for which the deposit of the bonds or other obligations of this state is now or may hereafter be authorized.
History. Ga. L. 1953, Jan.-Feb. Sess., p. 302, § 27; Code 1933, § 95A-1264, enacted by Ga. L. 1973, p. 947, § 1.
Structure Georgia Code
Title 32 - Highways, Bridges, and Ferries
Chapter 10 - Public Authorities
Article 2 - State Road and Tollway Authority
§ 32-10-90. Form and Issuance of Bonds; Pledging of Tolls and Other Project Revenues
§ 32-10-90.1. Garvee Bond Provisions
§ 32-10-91. Obtaining of Loans and Issuance and Sale of Notes and Bonds; Sale of Obligations
§ 32-10-92. Bonds Authorized by Resolution; Specification of Terms; Public or Private Sale
§ 32-10-93. Execution, Seal, and Signing of Bonds
§ 32-10-94. Bonds as Negotiable Instruments; Tax Exemption
§ 32-10-96. Issuance of Interim Receipts, Interim Certificates, and Temporary Bonds
§ 32-10-97. Replacement of Lost or Mutilated Bonds
§ 32-10-98. Resolutions for Bond Issuance; Issuance of Bonds of a Single Issue
§ 32-10-99. Credit of State Not Pledged
§ 32-10-100. Trust Indenture as Security for Bonds
§ 32-10-101. Payment of Bond Proceeds to Trustee
§ 32-10-102. Pledges of Revenues, Tolls, and Earnings; Creation and Disposition of Sinking Funds
§ 32-10-103. Rights and Remedies of Holders of Bonds or Interest Coupons and of Indenture Trustees
§ 32-10-105. Investment of Funds in Bonds; Deposit of Bonds as Securities
§ 32-10-106. Protection of Interests and Rights of Bondholders
§ 32-10-107. Confirmation and Validation of Bonds
§ 32-10-108. Transfer of Projects to State Highway System Free From Tolls
§ 32-10-109. Covenant With Holders as to Tax-Exempt Status of Authority Property and Bonds