Georgia § 50-17-21 - Definitions.

§ 50-17-21. Definitions.

As used in this article, the term: "Commission" means the Georgia State Financing and Investment Commission as defined by Article VII, Section IV, Paragraph VII of the Constitution, consisting of the Governor, the President of the Senate, the Speaker of the House of Representatives, the state auditor, the Attorney General, the state treasurer, and the Commissioner of Agriculture, and declared an agency and instrumentality of the state. "Constitution" means the Constitution of the State of Georgia of 1983. "Financial advisory matters" means all matters pertaining to the issuance of state debt and state authority bonds and the investment of funds created by the issuance of such debt or bonds and the performing of ministerial services in connection with the issuance, marketing, and delivery of all such debt or bonds. Financial advice shall include the development and recommendation to state authorities of a financial plan which will provide state authorities with required funds. "Fiscal officer of the state" means the state treasurer or such other officer as may be designated by a valid Act of the General Assembly to perform the functions of the state treasurer with respect to public debt. "General obligation debt" means obligations of this state issued pursuant to this article to acquire, construct, develop, extend, enlarge, or improve land, waters, property, highways, buildings, structures, equipment, or facilities of the state, its agencies, departments, institutions, and those state authorities which were created and activated prior to the amendment to Article VII, Section VI, Paragraph I(a) of the Constitution of 1945, adopted November 8, 1960, for which the full faith, credit, and taxing power of the state are pledged for the payment thereof. "General obligation debt" also means obligations of this state issued to provide educational facilities for county and independent school systems and to provide public library facilities for county and independent school systems, counties, municipalities, and boards of trustees of public libraries or boards of trustees of public library systems. "General obligation debt" further means debt incurred to make loans to counties, municipal corporations, political subdivisions, local authorities, and other local governmental entities for water or sewerage facilities or systems. "Guaranteed revenue debt" means revenue obligations issued by an instrumentality of the state pursuant to this article to finance toll bridges, toll roads, and any other land public transportation facilities or systems and water and sewer facilities or to make or purchase, or lend or deposit against the security of, loans to citizens of the state for educational purposes, the payment of which has been guaranteed by the state as provided in this article. "Public debt" means any debt authorized by Article VII, Section IV of the Constitution. "Sinking fund" means the State of Georgia General Obligation Debt Sinking Fund established by this article. "State authorities" means the following instrumentalities of the state: Georgia Building Authority, Georgia Education Authority (Schools), Georgia Education Authority (University), Georgia Highway Authority, State Road and Tollway Authority, Georgia Ports Authority, Georgia Development Authority, Jekyll Island - State Park Authority, Stone Mountain Memorial Association, North Georgia Mountains Authority, Lake Lanier Islands Development Authority, Groveland Lake Development Authority, Georgia Higher Education Assistance Authority, the Georgia Housing and Finance Authority, and other instrumentalities of the state created by the General Assembly and authorized to issue debt and not specifically exempt from this article. (Ga. L. 1973, p. 750, § 2; Ga. L. 1974, p. 171, § 1; Ga. L. 1979, p. 401, §§ 1-5; Ga. L. 1983, p. 3, § 66; Ga. L. 1983, p. 839, § 4; Ga. L. 1983, p. 1024, § 1; Ga. L. 1984, p. 22, § 50; Ga. L. 1987, p. 642, § 1; Ga. L. 1988, p. 426, § 2; Ga. L. 1991, p. 1653, § 2-3; Ga. L. 1993, p. 1402, § 18; Ga. L. 2001, p. 1251, § 2-1; Ga. L. 2010, p. 863, § 6/SB 296; Ga. L. 2012, p. 775, § 50/HB 942; Ga. L. 2013, p. 141, § 50/HB 79; Ga. L. 2014, p. 866, § 50/SB 340.) Code Commission notes. - Pursuant to Code Section 28-9-5, in 1986, a dash was inserted between "Island" and "State" in paragraph (9). Pursuant to Code Section 28-9-5, in 2010, "the state treasurer" was substituted for "the director of the Office of Treasury and Fiscal Services" in paragraph (1). Editor's notes. - The amendment to Ga. Const. 1945, Art. VII, Sec. VI, Para. I(a), adopted November 8, 1960, referred to in paragraph (5) of this Code section, is now found in Ga. Const. 1983, Art. VII, Sec. IV, Para. III; Art. VIII, Sec. V, Para. VII; and Art. IX, Sec. III, Para. I. The amendment to this Code section by Ga. L. 1988, p. 426, § 2, is not in effect, since it was to become effective only upon ratification of proposed amendments to Ga. Const. 1983, Article VII, Section IV, Paragraph VII and Article X, Section I, Paragraph II at the November 1988 general election (see Ga. L. 1988, p. 2116), which proposed constitutional amendments were defeated.