The authority and its corporate existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the authority shall have bonds or other obligations outstanding, unless adequate provision has been made for the payment thereof. On termination of the existence of the authority, all its rights and properties shall pass to and be vested in the State of Georgia.
History. Code 1981, § 50-26-16 , enacted by Ga. L. 1991, p. 1653, § 1-2.
Structure Georgia Code
Chapter 26 - Housing and Finance Authority
§ 50-26-2. Legislative Findings and Declaration of Necessity
§ 50-26-6. Limitation on Liability
§ 50-26-7. Powers of Authority Vested in Board of Directors; Quorum; Action Taken by Majority
§ 50-26-8. Powers of Authority
§ 50-26-9. Power to Issue Bonds and Incur Indebtedness; Exemption From Taxation
§ 50-26-11. Bonds as Securities
§ 50-26-12. Payment of Bond Proceeds; Pledges of Proceeds for Payment of Bond
§ 50-26-15. Annual and Periodic Audits and Reports Required
§ 50-26-16. Termination of Authority
§ 50-26-18. Facilitating Economic Development for Enterprises
§ 50-26-19. Financing Acquisition, Construction, and Equipping of Health Care Facilities
§ 50-26-20. Competitive Bidding on Contracts Not Required
§ 50-26-21. Transfer of Assets and Obligations of Hospital Financing Authority to Authority
§ 50-26-22. Transfer of Personnel to Department of Community Affairs