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the Georgia Code
2006 Georgia Code - 6-4-3
6-4-3. As used in this chapter, the term:
(1) 'Authority' means the Georgia
Airport Development Authority. (2) 'Cost of the project' or 'cost of any
project' means and shall include: all costs of acquisition, by
purchase or otherwise, construction, assembly, installation, or the
subsequent modification, renovation, or rehabilitation incurred in
connection with any project or any part of any project; the cost of
all lands, properties, rights, easements, fees, franchises,
permits, approvals, licenses, and certifications acquired; the cost
of all machinery and equipment necessary for the operation of the
project; financing charges; interest prior to and during
construction and for such period of time after completion of
construction as shall be deemed necessary to allow the earnings of
the project to become sufficient to meet the requirements of the
bond issue; the cost of engineering, legal expenses, plans and
specifications, 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 authorized in this chapter;
the construction of any project, and the placing of same 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 the proceeds
of revenue bonds issued for such project under this chapter.
(3) 'Governing body' means the
elected or duly appointed officials constituting the governing
authority of the State of Georgia. (4) 'Project' means the construction,
installation, operation, or lease of any new airports in the state
that are planned to be certificated under 14 C.F.R. Part 139 or any
appurtenance thereto or the subsequent renovation or rehabilitation
of such facility. A project may also include any fixtures,
machinery, or equipment used on or in connection with any airport
facilities. (5) 'Revenue
bonds' and 'bonds' means any bonds of the authority which are
authorized to be issued under the Constitution and laws of the
State of Georgia, including refunding bonds but not including notes
or other obligations of an authority. (6) 'Self-liquidating' means that, in the
judgment of the authority, the revenues and earnings to be derived
by the authority from any project or combination of projects,
together with any maintenance, repair, operational services, funds,
rights of way, engineering services, and any other in-kind services
to be received by the authority from appropriations of the General
Assembly, other state agencies or authorities, the United States
government, or any county or municipality shall be sufficient to
provide for the maintenance, repair, and operation and to pay the
principal and interest of revenue bonds which may be issued for the
cost of such project, projects, or combination of projects.
(7) 'Service area' means the
geographical area of operations of the authority and shall consist
of the State of Georgia and, with the consent of the appropriate
governing authorities thereof, nearby states.
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