2006 Georgia Code - 2-10-14

2-10-14. (a) The rentals under all leases entered upon under this article shall not exceed in any fiscal year the sum of $1,200,000.00. (b) The rentals contracted to be paid by the Department of Agriculture or any other department, agency, or institution of the state to the authority under leases entered upon pursuant to this article shall constitute obligations of the state for the payment of which the good faith of the state is pledged. Such rentals shall be paid as provided in the lease contracts from funds appropriated for such purposes pursuant to the terms of the Constitution of Georgia. It shall be the duty of the Department of Agriculture or other department, agency, or institution of the state to see to the punctual payment of all such rentals. (c) In the event of any failure or refusal on the part of any lessees punctually to perform any covenant or obligation contained in any lease entered upon pursuant to this article, the authority may enforce performance by any legal or equitable process against such lessees. Consent is given for the institution of any such action. (d) The authority shall be permitted to assign any rental due it by the lessees to a trustee or paying agent, as may be required by the terms of any trust indenture entered into by the authority.

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