2006 Georgia Code - 20-2-577

20-2-577. The authority is authorized to fix rentals and other charges which the various county boards of education, city boards of education, or governing bodies of independent districts or systems shall pay to the authority for the use of each project or part thereof or combination of projects, to charge and collect them, and to lease and make contracts with the various counties with respect to the use by any institution or unit under its control of any project or part thereof. Such rentals and other charges shall be so fixed and adjusted in respect to their total amount from the project or projects for which a single issue of revenue bonds is issued as to provide a fund sufficient with other revenues of such project or projects, if any, to pay: (1) The cost of maintaining, repairing, and operating the project or projects, including reserves for extraordinary repairs and insurance and other reserves required by the resolution or trust indentures, unless such cost shall be otherwise provided for, which cost shall be deemed to include the expenses incurred by the authority on account of the project or projects for water, light, sewer, and other services furnished by other facilities at such institution; and (2) The principal of the revenue bonds and the interest thereon as they shall become due.

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