The Act adds language to the Georgia Residential Finance Authority (GRFA) statute permitting the GRFA to issue bonds for two additional types of housing activities. The new bonding authority allows the GRFA to finance home equity conversion mortgages for the elderly and residential facilities for the mentally disabled. Funding limits for these new programs fall under pre-existing bond ceilings of the Authority. The Act establishes funding limits for the program and also postpones the due date for the state housing goal report from 1989 to 1990. The Act requires the filing of these reports each even-numbered year thereafter.
BUILDINGS AND HOUSING Georgia Residential Finance Authority Act: Increase Authority to Issue Bonds to Provide Facilities for the Elderly and Mentally Disabled,
Ga. St. U. L. Rev.
Available at: https://readingroom.law.gsu.edu/gsulr/vol6/iss1/22