§ 2-390. Revenue bonds; authority for issuance.

(a)

The authority, or any authority or body which has or which may in the future succeed to the powers, duties and liabilities vested in the authority created hereby, is authorized to provide by resolution for the issuance of negotiable revenue bonds in an amount at any time outstanding not to exceed $75,000,000.00 for the purpose of paying all or any part of the cost as herein defined of any one or combination of projects.

(b)

In addition to the authorization under subsection (a) of this section, the authority, or any authority or body which may in the future succeed to the powers, duties and liabilities vested in the authority created hereby, is authorized to provide by resolution on or prior to January 1, 1989, for the issuance of negotiable revenue bonds in an amount at any time outstanding not to exceed $75,000,000.00 to be allocated solely for a project comprised of judicial facilities and facilities related thereto. Bonds issued pursuant to this subsection shall be refundable as otherwise provided in this division.

(c)

The principal and interest of such revenue bonds shall be payable solely from the special fund herein provided for such payment. The bonds of each issue shall be dated and shall be payable in such medium of payment as to both principal and interest as may be determined by the authority and 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 the resolution providing for the issuance of the bonds. The interest rate on or rates to be borne by any bonds, notes, or other obligations issued by the authority shall be fixed by resolution of the authority, and any limitations with respect to interest rates found in the Revenue Bond Law (O.C.G.A. § 36-82-60 et seq.) or the usury laws of the State of Georgia shall not apply to authority obligations.

(1980 Ga. Laws (Act No. 1373), page 4488, § 5; 1982 Ga. Laws (Act No. 1379), page 5031, § 4; 1987 Ga. Laws (Act No. 794), page 1491, § 2)