§ 30-78. Definitions.

As used in this article, the following words and terms shall have the following meanings:

(1)

The word "authority" shall mean the City of Atlanta and Fulton County Recreation Authority created in section 30-77 of this article.

(2)

The word "project" shall be deemed to mean and include the acquisition, construction, equipping, maintenance and operation of an athletic stadium for the exhibition of amateur and professional athletic events and the usual facilities related thereto, including, without limitation, refreshment stands and restaurants, and facilities for the purveying of foods, beverages, publications, souvenirs, novelties, and goods of all kinds, whether operated or purveyed directly or indirectly through concessions, licenses, lease, or otherwise, parking facilities or parking areas in connection therewith, recreation centers and areas, including, but not limited to, athletic fields, golf courses, public zoos or zoological parks, parking facilities or parking areas in connection therewith, clubhouses, gymnasiums and related buildings and the usual and convenient facilities appertaining to such undertakings, and extensions and improvements of such facilities, acquiring the necessary property therefor, both real and personal, and the lease, sale, and licensing of any part or all of such facilities, including real and personal property, to any persons, firms, or corporations whether public or private so as to ensure the efficient and proper development, maintenance, and operation of such facilities and areas, deemed by the authority to be necessary, convenient, or desirable.

(3)

The term "cost of the project" shall embrace the cost of construction; the cost of all lands, properties, rights, easements and franchises acquired and the cost of all conveyances in fee simple of the authority's title thereto and leases thereof, the cost of preparing the land, including the installation of storm and sanitary sewers, the cost of all machinery, equipment and furnishings related to the operation of any project, financing charges, interest prior to and during construction, and for six months after completion of construction, cost of engineering, architectural, fiscal and legal expenses, and other expenses necessary or incident to determining the feasibility or practicability of the project, administrative expenses and such other expenses as may be necessary or incident to the financing herein authorized, and the cost of placing any project in operation. Any obligation or expense incurred for any of the foregoing purposes shall be regarded as a part of the cost of the project and may be paid or reimbursed as such out of any funds of the authority, including the proceeds of any revenue bonds issued under the provisions of this article for any such project or projects.

(4)

The terms "revenue bonds," "bonds" and "obligations" as used in this article, shall mean revenue bonds as defined and provided for in the Revenue Bond Law (O.C.G.A. tit. 36, ch. 82, art. 3 (O.C.G.A. § 36-82-60 et seq.)) and such types of obligations may be issued by the authority as authorized under said Revenue Bond Law and any amendments thereto; and, in addition, shall also mean obligations of the authority, the issuance of which are hereinafter authorized in this article.

(5)

Any project shall be deemed "self-liquidating" if, in the judgment of the authority, the revenues and earnings to be derived by the authority therefrom and all properties used, leased and sold in connection therewith will be sufficient to pay the principal and interest of the revenue bonds which may be issued to finance, in whole or in part, the cost of such project or projects.

(1960 Ga. Laws (Act No. 766), page 2810, § 3; 1966 Ga. Laws (Act No. 269), page 2848, § 1; 1985 Ga. Laws (Act No. 256), page 4235, § 1)