Georgia Code
Chapter 2 - Georgia Ports Authority
§ 52-2-27. Revenue Bonds — Protection of Rights of Bondholders

While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished or impaired in any manner that will affect adversely the interest and rights of the holders of such bonds; and no other entity, department, agency, or authority will be created which will compete with the authority to such an extent as to affect adversely the interests and rights of the holders of the bonds nor will the state itself so compete with the authority. This chapter shall be for the benefit of the state, the authority, and the holders of any such bonds and, upon the issuance of bonds under this chapter, shall constitute a contract with the holders of the bonds.
History. Ga. L. 1945, p. 464, § 17.

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Structure Georgia Code

Georgia Code

Title 52 - Waters of the State, Ports, and Watercraft

Chapter 2 - Georgia Ports Authority

§ 52-2-1. Short Title

§ 52-2-2. Definitions

§ 52-2-3. Projects Which May Be Considered Self-Liquidating; Lease or Sale of Manufacturing or Processing Facilities; Inclusion in Projects of Leased Facilities and Facilities Acquired for Use as Ports

§ 52-2-4. Creation of Authority; Status of Authority as an Instrumentality of State and a Public Corporation

§ 52-2-5. Composition of Authority; Appointment, Terms, and Qualifications of Members Generally; Filling of Vacancies; Election of Chairperson, Vice Chairperson, and Secretary-Treasurer; Quorum

§ 52-2-6. Compensation of Members and Reimbursement for Expenses

§ 52-2-7. Making of Rules and Regulations; Delegation of Powers and Duties; Perpetual Existence of Authority

§ 52-2-8. Eligibility for Membership

§ 52-2-9. Powers of Authority Generally

§ 52-2-10. Applicability of Traffic Laws; Enforcement by Peace Officers; Traffic Citations; Issuance of Bench Warrant Upon Failure of Offender to Appear; Enforcement of Dock Related City Ordinances; Venue

§ 52-2-11. Power of Authority to Borrow Money, to Execute Evidences of Indebtedness, and to Secure Such Indebtedness; Sale and Other Disposition of Property; Utilization of Proceeds of Sale

§ 52-2-12. Funds for Acquisition of Land and Construction of Port Facilities

§ 52-2-13. Approval and Consent of State Properties Commission for Acquisition of Real Property by Authority

§ 52-2-14. Conveyance of Medical Depot Site to Authority; Power to Sell Conveyed Surplus Lands and Improvements; Power to Borrow and to Issue Revenue Anticipation Certificates

§ 52-2-15. Revenue Bonds — Issuance; Payment of Principal and Interest From Special Fund; Dating of Bonds; Determination of Rate of Interest; Time of Maturity; Redemption Before Maturity

§ 52-2-16. Revenue Bonds — Form of Bonds; Denominations; Place of Payment of Principal and Interest

§ 52-2-17. Revenue Bonds — Signatures; Seal

§ 52-2-18. Revenue Bonds — Status of Bonds as Negotiable Instruments; Tax Exemption for Bonds and for Income Therefrom

§ 52-2-19. Revenue Bonds — Issuance in Coupon, Registered, or Book-Entry Form

§ 52-2-20. Revenue Bonds — Determination of Price; Use and Manner of Disbursement of Proceeds; Procedure Where Proceeds Are Less Than or Greater Than Cost of Projects

§ 52-2-21. Revenue Bonds — Issuance of Interim Receipts, Interim Certificates, and Temporary Bonds; Replacement of Mutilated, Destroyed, or Lost Bonds

§ 52-2-22. Revenue Bonds — Conditions Precedent to Issuance; Application of Bonds of a Single Issue to Payment of One or More Projects; Effective Date of Resolutions Providing for Issuance; Passage of Resolutions

§ 52-2-23. Revenue Bonds — Aid by Georgia State Financing and Investment Commission

§ 52-2-24. Revenue Bonds — Status of Bonds as a Debt of State or a Pledge of Faith and Credit of State; Issuance as Obligating State to Levy Tax or Make Appropriation; Obligation to Pay Principal and Interest on Bonds; Recitals on Face of Bonds

§ 52-2-25. Revenue Bonds — Securing of Bonds by Trust Indenture

§ 52-2-26. Revenue Bonds — Remedies of Bondholders and Trustee

§ 52-2-27. Revenue Bonds — Protection of Rights of Bondholders

§ 52-2-28. Revenue Bonds — Revenue Refunding Bonds

§ 52-2-29. Revenue Bonds — Status of Bonds as Legal Investments and as Securities for Deposits

§ 52-2-30. Revenue Bonds — Confirmation and Validation of Bonds; Venue of Actions to Confirm and Validate Bonds or to Enforce Rights Under Chapter

§ 52-2-31. Power of Authority to Fix, Revise, and Collect Charges; Factors Governing Determination of Amount of Rentals and Other Charges; Creation, Use, and Disposition of Sinking Fund; Cancellation of Purchased or Redeemed Bonds

§ 52-2-32. Status of Contracted-for Rentals as Obligations of State; Payment of Rentals; Power of Authority to Enforce Lessees’ Duty to Perform Covenants and Obligations; Assignment of Rentals Due

§ 52-2-33. Duty of Authority to Prescribe Rules and Regulations for Operation of Projects; Duty of Authority to Impose and Collect Rentals and Other Charges for Use of Facilities of Projects

§ 52-2-34. Acceptance of Grants From Federal Agencies and of Contributions of Money and Property From Other Sources

§ 52-2-35. Requirement as to Competitive Bidding for Contracts for New Construction

§ 52-2-36. Status of Moneys Received Under Chapter as Trust Funds; Provision by Authority for Payment of Moneys to Designated Trustee; Investment of Moneys; Sale of Investments and Reinvestment

§ 52-2-37. Creation of Authority and Carrying Out of Authority’s Corporate Purpose as Constituting a Public Purpose; Covenant With Bondholders as to Tax-Exempt Status of Authority’s Property

§ 52-2-38. Construction of Chapter

§ 52-2-39. Supplemental Nature of Chapter