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, shall
have power and is hereby authorized at one time, or from time to time, to provide
by resolution for the issuance of negotiable revenue bonds, for the purpose of paying
all or any part of the cost, as herein defined, of any one or more projects. 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, shall bear interest
at such rate or rates not exceeding the maximum limit prescribed in the Revenue Bond
Law (O.C.G.A. tit. 36, ch. 82, art. 3 (O.C.G.A. § 36-82-60 et seq.)) or any amendment
thereto, may be fixed or variable, shall mature at such time or times not exceeding
40 years from their date or dates, 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. Such revenue bonds or obligations shall be
issued pursuant to and in conformity with the Revenue Bond Law (O.C.G.A. tit. 36,
ch. 82, art. 3 (O.C.G.A. § 36-82-60 et seq.)), as amended, and all procedures pertaining
to such issuance and the conditions thereof shall be the same as those contained in
said Revenue Bond Law and any amendments thereto.
