Cumulative Nature of Authority Powers; Power to Pledge or Assign Rents, Revenues, Earnings, and Funds as Security for Indebtedness

  1. Law
  2. Georgia Code
  3. Commerce and Trade
  4. Geo. L. Smith Ii Georgia World Congress Center
  5. Revenue Bonds
  6. Cumulative Nature of Authority Powers; Power to Pledge or Assign Rents, Revenues, Earnings, and Funds as Security for Indebtedness

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  1. The powers granted to the authority under this article are cumulative and not in derogation of the powers otherwise granted to the authority under this chapter.
  2. Without limitation of the foregoing, the authority shall have the power to pledge or assign as security for the payment of, and to apply in the payment of, any indebtedness incurred by the authority under paragraph (9) of subsection (b) of Code Section 10-9-4 any rents, revenues, earnings, and funds derived from or in connection with the facilities undertaken under this article or any project under this chapter or otherwise available to the authority for such purposes, as the authority may determine necessary or appropriate, subject to such limitations or priorities as may be established incident to the issuance of revenue bonds under this article.

(Code 1981, §10-9-61, enacted by Ga. L. 1989, p. 1195, § 11.)


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