Georgia Code
Article 3 - Municipal Electric Authority of Georgia
§ 46-3-149. Status of Authority’s Funds Received From Revenue Bonds, Fees, Tolls, Charges, Gifts, Grants, or Other Contributions as Trust Funds; Lien of Bond Owners on Funds

All funds received pursuant to authority of this article, whether as proceeds from the sale of revenue bonds or as revenues, fees, tolls, charges, or other earnings or as gifts, grants, or other contributions, shall be deemed to be trust funds to be held and applied solely as provided in this article. The bond owners entitled to receive the benefits of such funds shall have a lien on all such funds until applied as provided in any such resolution, trust agreement, or indenture of the authority.
History. Ga. L. 1975, p. 107, § 23.

Structure Georgia Code

Title 46 - Public Utilities and Public Transportation

Chapter 3 - Electrical Service

Article 3 - Municipal Electric Authority of Georgia

§ 46-3-110. Declaration of Necessity

§ 46-3-111. Definitions

§ 46-3-112. Creation of Authority; Status of Authority as Instrumentality of State; Location of Principal Office and Legal Situs or Residence of Authority

§ 46-3-113. Number of Members of Authority; Creation of Municipal Electric Committee of Georgia Membership Election Committee; Designation of Members; Selection of Officers; Receiving of Nominations, Election and Terms of First Members of Authority

§ 46-3-114. Residency Requirements for Authority Members; Ineligibility of Election Committee Representatives for Membership; Eligibility of Members to Succeed Themselves

§ 46-3-115. Terms of Authority Members Generally; Time of Meeting of Election Committee Prior to Annual Meeting of Authority

§ 46-3-116. Selection of Additional Representatives to Election Committee by Political Subdivisions Subsequently Contracting With Authority

§ 46-3-117. Manner of Distribution of Votes Among Representatives to Election Committee; Quorum of Election Committee

§ 46-3-118. Vacancies on Authority

§ 46-3-119. Officers of Authority

§ 46-3-120. Quorum of Authority; Action by Majority Vote; Adjournment of Meetings at Which Less Than a Majority Is Present

§ 46-3-121. Annual Meeting of Authority; Special Meetings; Notice of Meetings; Waiver of Notice; Regular Meetings Other Than Annual Meeting

§ 46-3-122. Reimbursement of Members for Expenses; Making of Rules and Regulations by Authority; Employment of Staff and Personnel; Designation of Assistant Secretary-Treasurer

§ 46-3-123. Removal of Authority Members From Office

§ 46-3-124. Books and Records Generally

§ 46-3-125. Purpose of Authority

§ 46-3-126. Powers of Authority Generally

§ 46-3-127. Policy as to Nonprofit Operation of Projects by Authority; Fixing of Rates, Fees, and Charges by Authority

§ 46-3-128. Declaration of Authority Property as Public Property; Payments by Authority in Lieu of Taxes; Tax Exemption for Authority Property, Income, Obligations, and Debt Interest

§ 46-3-129. Contracts Between Authority and Political Subdivisions for Use of Projects and Facilities of Authority

§ 46-3-130. Eligibility of Political Subdivisions to Contract With Authority

§ 46-3-131. Issuance of Revenue Bonds and Bond Anticipation Notes in General

§ 46-3-132. Validation of Contracts for Payments Pledged as Security for Bonds

§ 46-3-133. Failure of District Attorney to Pursue Judicial Validation of Bonds

§ 46-3-134. Bonds as Legal Investments; Depositing Bonds With Public Officers and Bodies of State

§ 46-3-135. Pledge of Authority’s Revenues and Earnings to Payment of Principal of and Interest on Bonds; Setting Aside of Pledged Revenues and Earnings Into Sinking Funds

§ 46-3-136. Securing of Bonds by Trust Agreement or Indenture

§ 46-3-137. Application of Bond Proceeds to Cost of Projects; Issuance of Additional Bonds to Remedy Deficit in Proceeds From Bond Issue; Application of Surplus Proceeds

§ 46-3-138. Mutilated, Lost, Stolen, or Destroyed Bonds and Coupons

§ 46-3-139. Interest on Bonds

§ 46-3-140. Cancellation of Evidences of Indebtedness and Interest Coupons

§ 46-3-141. Records of Evidences of Indebtedness Issued

§ 46-3-142. Paying Agents for Bonds

§ 46-3-143. Bond Anticipation Notes

§ 46-3-144. Negotiability of Bonds, Notes, and Other Evidences of Debt

§ 46-3-145. Liability of Members of Authority on Bonds and Notes; Obligations of State and Political Subdivisions in Regard to Issued Bonds or Notes; Requirement as to Recital on Face of Bonds and Notes

§ 46-3-146. Preservation of Interests and Rights of Owners of Bonds and Notes

§ 46-3-147. Appointment of Receiver for Authority for Default on Bonds; Duties of Receiver; Termination of Receivership; Jurisdiction of Court Over Receiver

§ 46-3-148. Fixing, Revising, and Collecting Fees, Tolls, and Charges for Use of Projects; Application of Revenues; Time of Payment; Indemnity by Political Subdivisions; Enforcement; Assignment of Payments; Issuing Resolutions Governing Disposition o...

§ 46-3-149. Status of Authority’s Funds Received From Revenue Bonds, Fees, Tolls, Charges, Gifts, Grants, or Other Contributions as Trust Funds; Lien of Bond Owners on Funds

§ 46-3-150. Audits of Authority and of Funds Established in Connection With Its Debt

§ 46-3-151. Venue of Actions

§ 46-3-152. Jurisdiction of Commission Over Rates, Services, and Practices of Authority

§ 46-3-153. Applicability of Other Laws to Meetings and Records of Authority

§ 46-3-154. Supplemental Nature of Powers Conferred by Article

§ 46-3-155. Construction of Article