Bill > HB536

This bill creates the Public Facilities Authority of the City of Fairburn, a new public corporation and instrumentality of the State of Georgia designed to promote the public good and welfare of Fairburn's citizens. The authority will have broad powers to finance, acquire, construct, and manage public facilities and infrastructure projects within the city, including utility systems, emergency facilities, recreational spaces, public safety infrastructure, educational and cultural facilities, and administrative buildings. The authority's board will be composed of the same members as the City of Fairburn's Development Authority, and they will have the power to issue revenue bonds to fund these projects without pledging the city's general credit or requiring taxpayer support. The authority can enter into contracts, lease or sell property, accept grants, and collaborate with public and private entities, but cannot impose taxes or exercise eminent domain. The revenue bonds issued by the authority will be tax-exempt and can be validated through a legal process, and any property owned by the authority will be considered public property exempt from ad valorem taxation. The bill provides a comprehensive framework for the authority's creation, governance, and operational capabilities, with provisions ensuring flexibility, financial independence, and a focus on serving the community's infrastructure and service needs.

Government Affairs

https://www.legis.ga.gov/legislation/70519