§ 6. Revenue bonds.

The authority, or any authority or body which has or which may in the future succeed to the powers, duties and liabilities vested in the authority created hereby, shall have power and is hereby authorized at one time, or from time to time, to provide by resolution for the issuance of negotiable revenue bonds of the authority, in such sum as the authority may authorize, in conformity with the bonding laws of the State of Georgia, for the purpose of paying all or any part of the cost as herein defined of any one or more projects. The principal and interest of such revenue bonds shall be payable solely from the special fund hereby provided for such payment. The bonds of each issue shall be dated, and shall bear interest at such rate or rates as may be authorized by the authority in conformity with the bonding laws of the State of Georgia, payable as fixed therein, shall mature at such time or times not exceeding 40 years from their date or dates, or at such times exceeding 40 years as may hereafter be authorized by the bonding laws of the State of Georgia, shall be payable in such medium of payment as to both principal and interest as may be redeemable before maturity, at the option of the authority, at such price or prices and under such terms and conditions as may be fixed by the authority and the resolution providing for the issuance of the bonds. The interest rate or rates to be borne by any bonds and the time of payment of such interest shall be fixed, and with respect to any interest rate which floats in response to a variable, the method of calculation shall be fixed by the authority in the resolution providing for the issuance of the bond. Any bonds issued by the authority shall be exempt from all laws of the State of Georgia governing usury prescribing or limiting interest rates to be borne by bonds or other obligations.

(1984 Ga. Laws, page 3618)