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Georgia Code Title 32. Highways, Bridges, and Ferries § 32-10-125

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) The following sources may be used to capitalize the bank and for the bank to carry out its purposes:

(1) Appropriations by the General Assembly;

(2) Federal funds available to the state, as approved by the Department of Transportation;

(3) Contributions, donations, and deposits from government units, private entities, and any other source as may become available to the bank;

(4) All moneys paid or credited to the bank, by contract or otherwise, payments of principal and interest on loans or other financial assistance made from the bank, and interest earnings which may accrue from the investment or reinvestment of the bank's moneys;

(5) Proceeds from the issuance of bonds as provided in this part; and

(6) Other lawful sources not already dedicated for another purpose as determined appropriate by the board.

(b) Without limiting the provisions of subsection (a) of this Code section, it shall be specifically provided that any local government may use the proceeds of any local funds which may be hereafter made available by law for the purposes of this part, including without limitation the funding of eligible projects and contributions, donations, and deposits to the bank.

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Cite this article: FindLaw.com - Georgia Code Title 32. Highways, Bridges, and Ferries § 32-10-125 - last updated March 28, 2024 | https://codes.findlaw.com/ga/title-32-highways-bridges-and-ferries/ga-code-sect-32-10-125/

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