It is hereby determined, declared and established that the creation of the authority and the implementation of the corporate
purposes set forth in this subdivision is in all respects for the benefit of the people of this state and that the authority
is an institution of purely public charity and it is further declared that the revitalization and redevelopment of the urban,
central city and downtown areas of Bibb County (project areas) is a proper public purpose and this law is adopted for the
purpose of promoting and expanding for the public good and welfare the public facilities of said areas including the construction
of streets, roadways, parks, malls, transportation systems, vehicular parking facilities and any and all other necessary and
desirable appurtenances to the revitalization and modernization of said project areas and it is further declared that the
expenditure of public funds for such purposes by said authority is and shall be in the public interest.
It is further found, determined, and declared that all property of said authority is hereby declared and shall in all respects
be considered to be public property and title to such property shall be held by the authority only for the benefit of the
public, and the use of such property pursuant to the terms of this subdivision shall be and is hereby declared to be for public
and governmental purposes, that is, for the promotion of the general public welfare in matters of cultural development, education,
pleasure, convenience and recreation of the public at large, in an effort to better the general condition of society, or that
considerable part of society residing in Middle Georgia, which promotion is hereby declared to be a public beneficence for
the good of humanity and for the general improvement and happiness of society, and all the property, income, obligations,
and interest on the obligations of the authority and the transfer thereof shall be and hereby are declared to be nontaxable
for any and all purposes.
(1974 Ga. Laws (Act No. 1130), page 3093, § 4)
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