The [coliseum] authority shall have the power and is hereby authorized to provide
by resolution for the issuance of negotiable revenue bonds of the authority for the
purpose of paying all or any part of the cost of any one or combination of its projects
not to exceed an aggregate principal amount of $28 million during the life of the
authority. The principal and interest of such revenue bonds shall be payable solely
from and may be secured by a pledge of rents, fees, charges, and other revenues of
all or any part of the project or projects financed in whole or in part with the proceeds
of such bonds or with the proceeds of bonds called and refunded or to be called and
refunded by such issue. The bonds of each issue shall be dated, shall bear interest,
shall mature, and shall be payable as to both principal and interest as may be determined
by the authority within the terms of the Revenue Bond Law of Georgia (O.C.G.A. § 36-82-60
et seq.), and the bonds may be made redeemable before maturity at the option of the
authority at such price or prices and under such terms and conditions as may be fixed
by the authority in its resolution providing for the issuance of the bonds. The authority
granted for the issuance of negotiable revenue bonds by this section is cumulative
only and shall not be construed to abridge the rights of the authority as otherwise
provided in this act, and specifically shall not abridge the power of said authority
to borrow money and issue notes as distinguished from revenue bonds as provided in
section 2-255(4) and as otherwise provided by law.
