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. Code 1981, § 46-4-119 , enacted by Ga. L. 1987, p. 745, § 1.
Structure Georgia Code
Title 46 - Public Utilities and Public Transportation
Chapter 4 - Distribution, Storage, and Sale of Gas
Article 4 - Municipal Gas Authority of Georgia
§ 46-4-80. Legislative Findings; Declaration of Need
§ 46-4-82. Creation of Authority; Principal Office; Legal Situs
§ 46-4-83. Membership Election Committee; Election of Members of the Authority
§ 46-4-85. Authority Members — Terms of Office
§ 46-4-86. Election Committee Members
§ 46-4-87. Weighted Vote of Election Committee Members; Quorum for Election Committee
§ 46-4-88. Vacancies in Membership of Authority
§ 46-4-90. Quorum; Majority Vote
§ 46-4-91. Annual and Special Meetings
§ 46-4-92. Compensation; Expenses; Personnel
§ 46-4-93. Removal of Authority Members From Office
§ 46-4-97. Not for Profit Operation
§ 46-4-98. Public Purpose; Tax Exemption; Payments in Lieu of Taxes
§ 46-4-99. Contracts With Political Subdivisions
§ 46-4-100. Applicability of Article to Entities With Gas Distribution Systems
§ 46-4-103. Failure of District Attorney to File Revenue Bonds Validation Petition
§ 46-4-104. Bonds as Legal Investments
§ 46-4-105. Pledge of Revenue to Retire Bonds
§ 46-4-106. Trust Agreement or Indenture to Secure Bonds
§ 46-4-108. Lost, Stolen, or Mutilated Bond Certificates
§ 46-4-109. Interest on Bonds After Due Date
§ 46-4-110. Cancellation or Destruction of Retired Bonds
§ 46-4-111. Records of Bond and Note Transactions Required
§ 46-4-113. Bond Anticipation Notes
§ 46-4-114. Negotiability of Bonds
§ 46-4-115. Liability of Authority Members, Political Subdivisions, and State
§ 46-4-116. Impairment of Contracts
§ 46-4-117. Appointment of Receiver Upon Default
§ 46-4-118. Charges for Use of Facilities or Services
§ 46-4-119. Revenues Held in Trust for Bondholders
§ 46-4-121. Jurisdiction for Rights Protection or Enforcement Actions
§ 46-4-122. Exemption From Regulation by Public Service Commission
§ 46-4-123. Conduct of Meetings; Records