Chapter 39
DEVELOPMENT

Sec. 39-1. Development authority; creation.

Sec. 39-2. Same? Board of directors; officers.

Sec. 39-3. Same? Powers.

Sec. 39-1. Development authority? Creation.

The governing body of the City of Pooler, Georgia, affirmatively finds that there is a necessity for a development authority within the city; and, therefore, pursuant to O.C.G.A. Title 36, Chapter 62, there is hereby created a public body corporate and politic to be known as the Pooler Development Authority.

(Ord. of 11-24-2003(1), § II; Ord. of 11-24-2003(2), § II)

Sec. 39-2. Same? Board of directors; officers.

The governing body of the development authority shall be known as the board of directors and shall consist of seven directors to be appointed by resolution of the governing body of the city for initial terms of two years for the first four members of the board of directors, and shall elect directors to the remaining members of the board for initial terms of four years. Thereafter, the terms of all directors shall be for four years. The directors shall be taxpayers residing in the city. City employees shall not be prohibited from serving as directors and no more than one director may be an officer of the city. The directors shall elect one of their members as chairman and another as vice-chairman. Upon approval by the board of directors, the city manager shall be appointed as secretary/treasurer and ex officio member of the board of directors. The directors shall receive no compensation for their services, but shall be reimbursed for their actual expenses incurred in the performance of their duties. The authority may make by-laws and regulations for its government and may delegate to one or more of its officers, agents or employees such powers and duties that may be deemed necessary and proper. The authority created hereunder shall have perpetual existence as hereinafter provided. A majority of the directors shall constitute a quorum, but no action shall be taken by the board without the affirmative vote of a majority of the full membership of the board.

(Ord. of 11-24-2003(1), § II; Ord. of 11-24-2003(2), § II)

Sec. 39-3. Same? Powers.

The authority shall have all of the powers necessary or convenient to carry out and effectuate its purposes and the appropriate provisions of this chapter, including, but without limiting the generality of the foregoing, the following powers:

(1) To sue and be sued;

(2) To adopt and amend a corporate seal;

(3) To make and execute contracts and other instruments necessary to exercise the powers of the authority, any of which contracts may be made with the county or may be made with any one or more municipal corporations in the county, and the county and all municipal corporations therein are hereby authorized to enter into contracts with the authority;

(4) To receive and administer gifts, grants and devises of any property and to administer trusts;

(5) To acquire by purchase, gift or construction any real or personal property desired to be acquired as part of any project or for the purpose of improving, extending, adding to, reconstructing, renovating or remodeling any project or part thereof already acquired, or for the purpose of demolition to make room for such project or any part thereof;

(6) To sell, lease, exchange, transfer, assign, pledge, mortgage or dispose of, or grant options for any such purposes, any real or personal property or interest therein;

(7) To mortgage, convey, pledge or assign any properties, revenues, income, tolls, charges or fees owned or received by the authority;

(8) To appoint officers and retain agents, engineers, attorneys, fiscal agents, accountants and employees and to provide for their compensation and duties;

(9) To extend credit or make loans to any person including any industrial entity, for the planning, design, construction, acquisition or carrying out of any project, which credit or loans shall be secured by loan agreements, mortgages, security agreements, contracts and all other instruments or fees or charges, upon such terms and conditions as the authority shall determine reasonable in connection with such loans, including provision for the establishment and maintenance of reserves and insurance funds, and in the exercise of powers granted by this section in connection with a project for the person to require the inclusion in any contract, loan agreement, security agreement or other instrument, such provisions for guaranty, insurance, construction, use, operation, maintenance and financing of a project as the authority may deem necessary or desirable;

(10) To acquire, accept or retain equitable interests, security interests or other interests in any property, real or personal, by mortgage, assignment, security agreement, pledge, conveyance, contract, lien, loan agreement or other consensual transfer in order to secure the repayment of any monies loaned or credit extended by the authority;

(11) To construct, acquire, own, repair, remodel, maintain, extend, improve and equip projects located on land owned or leased by the authority or land owned or leased by others and to pay all or part of the cost of any such project from the proceeds of revenue bonds of the authority or from any contribution or loans by persons or any other contribution, all of which the authority is hereby authorized to receive and accept and use;

(12) To borrow money and issue its revenue bonds and bond anticipation notes from time to time and use the proceeds thereof for the purpose of paying all or part of the cost of any project, including the cost of extending, adding to or improving such project, or for the purpose of refunding any such bonds of the authority theretofore issued, and to otherwise carry out the purposes of this chapter and to pay all other costs of the authority incident to, or necessary and appropriate to, such purposes, including the providing of funds to be paid into any funds to secure such bonds and notes; provided that all bonds and notes shall be issued in accordance with the procedures and subject to the limitations set forth in O.C.G.A., § 36-62-8;

(13) As security for repayment of authority obligations, to pledge, mortgage, convey, assign, hypothecate or otherwise encumber any property, real or personal, of the authority and to execute any trust agreement, indenture or security agreement containing any provisions not in conflict with law, which trust agreement, indenture or security agreement may provide for foreclosure or forced sale of any property of the authority upon default on the obligations either in payment of principal or interest or in the performance of any term or condition contained in the agreement or indenture; the state on behalf of itself and each county, municipal corporation, political subdivision or taxing district therein hereby waives any right it or county, municipal corporation, political subdivision or taxing district may have to prevent the forced sale or foreclosure of any property of the authority so mortgaged or encumbered, and any such mortgage or encumbrance may be foreclosed in accordance with law and the terms thereof;

(14) Any authority authorizing an air transportation facility is empowered to contract with any county or municipality in the state, and any county or municipality in the state is empowered to contract with any authority to furnish air transportation services where such service is not otherwise in existence; and

(15) To do all things necessary or convenient to carry out the powers expressly conferred above.

(Ord. of 11-24-2003(1), § II)