Section 20-3-211 - Disposition of moneys received by authority

(a) All moneys received by the authority pursuant to this article, whether as grants or other contributions or as revenues, rents, or earnings, shall be held and applied to the expenses, outstanding bond obligations, and other obligations of the authority.(b) In the event this authority shall be dissolved, all authority money remaining after the payment of the authority's obligations or provisions for payment thereof shall accrue to the state.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Repealed and reserved by 2019 Ga.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 Laws 296, which repealed Article 6, relating to the Private Colleges and Universities Authority, was declared unconstitutional and its implementation was permanently enjoined by Private Colleges and Universities Authorities v. Kemp, No. 2019CV322341 (Superor Court of Fulton County, July 8, 2019)