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, § 50-34-14 , enacted by Ga. L. 2000, p. 582, § 1.
Structure Georgia Code
Chapter 34 - Onegeorgia Authority
§ 50-34-3. Creation, Membership of Board of Directors, Power, and Authority of Onegeorgia Authority
§ 50-34-4. Limitation on the Authority’s Liability
§ 50-34-5. Powers of the Authority Vested in the Members
§ 50-34-6. Powers of the Authority
§ 50-34-7. Powers to Issue Bonds and Incur Indebtedness
§ 50-34-9. Bonds as Securities
§ 50-34-10. Payment of Bond Proceeds
§ 50-34-11. Power to Secure Issuance of Bonds by Trust Agreement or Indenture
§ 50-34-13. Annual and Biannual Audits and Reports
§ 50-34-14. Termination of the Authority
§ 50-34-15. Facilitation of Economic Development for Enterprises Throughout the State
§ 50-34-16. Competitive Bidding Not a Requirement
§ 50-34-17. Onegeorgia Authority Overview Committee Established; Duties
§ 50-34-18. Transfer of Positions Authorized by Authority to Department of Community Affairs