Bonds of the authority shall be confirmed and validated in accordance with the procedure of Article 3 of Chapter 82 of Title 36, the “Revenue Bond Law.” The petition for validation shall also make party defendant to such action any authority, subdivision, instrumentality, or agency of the state which has contracted with the authority for the use of any building, structure, or facilities for which bonds have been issued and sought to be validated; and such authority, subdivision, instrumentality, or agency shall be required to show cause, if any, why such contract or contracts and the terms and conditions thereof should not be inquired into by the court and the validity of the terms thereof determined and the contract adjudicated as security for the payment of any such bonds of the authority. The bonds when validated and the judgment of validation shall be final and conclusive with respect to such bonds and against the authority issuing the same and any authority, subdivision, instrumentality, or agency contracting with the authority.
History. Ga. L. 1951, p. 699, § 23; Ga. L. 1982, p. 3, § 50.
Structure Georgia Code
Chapter 9 - Georgia Building Authority
§ 50-9-30. Issuance Authorized; Amount; Interest; Redemption
§ 50-9-31. Form, Denomination, Place of Payment, Registration
§ 50-9-32. Valid Signatures, Seal, Attestation
§ 50-9-33. Negotiable Instruments; Exempt From Taxation
§ 50-9-34. Manner and Price of Sale
§ 50-9-36. Interim Certificates and Temporary Bonds Authorized
§ 50-9-37. Replacement of Mutilated or Lost Bonds
§ 50-9-39. Not Debt or Pledge of Credit of State; Bonds to Contain Recital of Provisions
§ 50-9-40. Trust Indentures as Security; Provisions
§ 50-9-41. Authority to Provide for Payment of Proceeds to Person or Agency as Trustee
§ 50-9-42. Sinking Fund; Pledge and Allocation of Funds to Pay Principal and Interest
§ 50-9-43. Rights and Remedies of Bondholders
§ 50-9-45. Authorized Investment and Deposit Securities
§ 50-9-46. Validation; Parties Defendant to Action; Judgment Final and Conclusive