While any of the revenue bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of any of its officers shall not be diminished or impaired in any manner that will affect adversely the interest and rights of the holders of such revenue bonds. This article shall be for the benefit of the state, the authority, and the holders of any such revenue bonds and, upon the issuance of the revenue bonds as provided in this article, such provisions shall constitute a contract with the holders of such revenue bonds. The provisions of any bond resolution, indenture, or trust agreement shall be a contract with every holder of such revenue bonds; and the duties of the authority under any such bond resolution, indenture, or trust agreement shall be enforceable by any bondholder by mandamus or other appropriate action or proceeding at law or in equity.Reenacted by 2024 Ga. Laws 399,§ 3-1, eff. 6/30/2024.Repealed and reserved by 2019 Ga. Laws 296,§ 7-1, eff. 7/1/2019.Part 7 of 2019 Ga. Laws 296, which repealed Article 6, relating to the Private Colleges and Universities Authority, was declared unconstitutional and its implementation was permanently eff. 7/1/2019.Part 7 of 2019 Ga. Laws 296, which repealed Article 6, relating to the Private Colleges and Universities Authority, was declared unconstitutional and its implementation was permanently enjoined by Private Colleges and Universities Authorities v. Kemp, No. 2019CV322341 (Superor Court of Fulton County, July 8, 2019)
Georgia Legal Code