Loans and Other Financial Assistance; Determination of Eligible Projects

  1. Law
  2. Georgia Code
  3. Highways, Bridges, and Ferries
  4. Public Authorities
  5. State Road and Tollway Authority
  6. Transportation Infrastructure Bank
  7. Loans and Other Financial Assistance; Determination of Eligible Projects

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  1. The bank may provide loans and other financial assistance to a government unit to pay for all or part of the eligible costs of a qualified project. The term of the loan or other financial assistance shall not exceed the useful life of the project. The bank may require the government unit to enter into a financing agreement in connection with its loan obligation or other financial assistance. The board shall determine the form and content of loan applications, financing agreements, and loan obligations including the term and rate or rates of interest on a financing agreement. The terms and conditions of a loan or other financial assistance from federal accounts shall comply with applicable federal requirements.
    1. The board shall determine which projects are eligible projects and then select from among the eligible projects qualified projects. When determining eligibility, the board shall make every effort to balance any loans or other financial assistance among all regions of this state.
    2. Preference for loans may be given to eligible projects in tier 1 and tier 2 counties, as defined in Code Section 48-7-40 and by the Department of Community Affairs.
    3. Preference for grants and other financial assistance may be given to eligible projects which have local financial support.

(Code 1981, §32-10-127, enacted by Ga. L. 2008, p. 73, § 2/HB 1019; Ga. L. 2015, p. 236, § 6-1/HB 170.)

Editor's notes.

- Ga. L. 2015, p. 236, § 8-1/HB 170, not codified by the General Assembly, provides: "This Act shall be known and may be cited as the 'Transportation Funding Act of 2015.'"

Ga. L. 2015, p. 236, § 8-2/HB 170, not codified by the General Assembly, provides: "It is the intention of the General Assembly, subject to appropriations and other constitutional obligations of this state, that year to year revenue increases be prioritized to fund education, transportation, and health care in this state."

Ga. L. 2015, p. 236, § 9-1(b)/HB 170, not codified by the General Assembly, provides: "Tax, penalty, and interest liabilities and refund eligibility for prior taxable years shall not be affected by the passage of this Act and shall continue to be governed by the provisions of Title 48 of the Official Code of Georgia Annotated as it existed immediately prior to the effective date of this Act." This Act became effective July 1, 2015.

Law reviews.

- For article on the 2015 amendment of this Code section, see 32 Ga. St. U. L. Rev. 261 (2015).


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