CONSTITUTION OF THE STATE OF GEORGIA Proposing an Amendment to the Constitution so as to Authorize Community Redevelopment and Authorize Counties, Municipalities, and Local Boards of Education to Use Tax Funds for Redevelopment Purposes and Programs, Including the Payment of Debt Service on Tax Allocation Bonds; Provide for Submission of this Amendment for Ratification or Rejection; and for Other Purposes

The resolution proposes an amendment to the Georgia Constitution permitting the General Assembly to authorize counties, municipalities, and housing authorities to engage in community redevelopment. The resolution further proposes an amendment to the constitution permitting cities, counties and local boards of education to pledge property tax revenues toward payment of the debt arising from the issuance of tax allocation district (TAD) bonds. A referendum on the proposed amendments will appear on the general election ballot in November 2008