In order to finance any undertaking within the scope of its power or to refund any
bonds then outstanding, the authority is hereby authorized to issue bonds bearing
rate or rates of interest and maturing at the years and amounts determined by the
authority and the procedure of validation, issuance and delivery shall be in all respects
in accordance with the Revenue Bond Law (O.C.G.A. § 36-82-60 et seq.) as if said obligations
had been originally authorized to be issued thereunder; provided, however, that any
property, real or personal, of the authority may be pledged, mortgaged, conveyed,
assigned, hypothecated or otherwise encumbered as security for any lawful debt of
the authority. The authority may execute any trust agreement or indenture not in conflict
with the provisions of this amendment to provide security for any bonds issued as
provided herein, and such trust agreement or indenture may provide for foreclosure
or forced sale of any property of the authority upon default on such bonds either
in payment of principal or interest or under any term or condition under which such
bonds are issued. Nothing herein contained shall be construed to create a right to
compel any exercise of the taxing power of Bibb County or of the City of Macon to
pay any such bonds or the interest thereon nor to enforce payment thereof against
any property of Bibb County or of the City of Macon.
(1962 Ga. Laws (Act No. 647), page 2323, § 7)
var val = document.getElementById('citecontent').innerHTML;
art.dialog.defaults.title = window.location.href;
art.dialog.data('cite', val);
art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');
