The authority shall not operate or construct any project for profit, except insofar as any such profit will inure to the benefit of the public. The authority shall fix the rates, fees, and charges consistent with this declaration of policy such as will produce revenues only in amounts sufficient, together with all other funds of the authority, to pay the principal or purchase price of and premium, if any, and interest on bonds and all other indebtedness and contractual obligations of the authority; to provide for maintenance and operation of the authority and of its projects; to provide for payment of any judgment against the authority; and to maintain such reserves as shall have been created in amounts sufficient in the judgment of the authority for the security of the bonds and other obligations; and for the improvement, replacement, or expansion of the facilities or services of the authority or to provide fuel for its projects.
History. Code 1981, § 46-4-97 , 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