The authority shall have power and is hereby authorized to provide by resolution for
the issuance of revenue bonds of the authority for the purpose of paying all or any
part of the cost of any one or a combination of its projects. The principal of and
interest on such revenue bonds shall be payable from and may be secured by a pledge
of rents, fees, charges, and other revenues of, and by the mortgage 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 mature, and shall be
payable as to both principal and interest as may be determined by the authority within
the terms of O.C.G.A. tit. 36, ch. 82, art. 3 (O.C.G.A. § 36-82-60 et seq.), as now
or hereafter amended, except as to any limitation as to interest which may be contained
therein, 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. If the
proceeds of the bonds of any issue shall exceed the amount required for the purpose
for which such bonds are issued, the surplus shall be deposited as may be directed
in the resolution or trust instrument providing for the issuance of such bonds.
(1970 Ga. Laws (Act No. 786), page 2126, § 11)
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