§ 5.11. Combination of water, sewer and electric systems; revenue bonds.

As authorized by constitutional amendment, the city and the board are authorized and empowered and granted the right, power and authority to combine the water and sewerage system and electric system now being maintained and operated by said board for the benefit of said city and to maintain, repair, and operate such combined public utility as one revenue producing undertaking and to issue from time to time interest bearing revenue anticipation obligations to be known and designated Public Utilities Revenue Bonds for the purpose of acquiring, constructing, adding to, extending, improving and equipping any facility of such combined public utility and to pledge for the payment of the principal of and interest on such public utilities revenue bonds all or any part of the revenues of such combined public utility and to create a lien thereon for that purpose, subject to any liens heretofore created thereon by law or contract. No election to authorize the issuance of said bonds shall be required and the pledge of revenues from the combined public utility shall not be a debt of the city within the meaning of article IX, section VII, paragraph I of the constitution. Such bonds may be issued from time to time bearing such rate or rates of interests as authorized by law and maturing within 30 years from their date in the years and amounts as determined by a majority vote of the governing body of the city and by a majority vote of the members of the board, and when so authorized the procedure of the issuance and delivery including validation shall be in all respects in accordance with the Revenue Bond Law as now enacted and any amendments thereto which law was originally known as the Revenue Certificate Law of 1937. The rights, powers and authority herein conferred upon the city and board are self-executing and no enabling act of the general assembly shall be necessary and are hereby made cumulative of and in addition to such other rights, powers and authority as they may have under the constitution and laws of this state.

(Ga. L. 1977, p. 3541, Sec. 5.11)

State Law reference— Revenue Certificate Law, Ga. Code Ann., Ch. 87-8.

Annotation— The constitution grants joint authority for the city and the board to operate the combined systems. Board of Lights and Waterworks v. Craddock, 228 Ga. 697, 187 S.E. 2d 852 (1972).

Cross reference

Constitutional amendment, Division I, Sec. 5-101.