Georgia Governor Brian Kemp signed an executive order on Friday allowing the Georgia Housing and Finance Authority (GHFA) to issue up to $500-million of its single-family mortgage bonds.
The bond issuance is to provide money to finance mortgage loans on single-family residential housing units for eligible low and moderate income residents in the state.
It is also to refund and redeem outstanding bonds that investors have bought, to establish necessary reserves, and to pay for the costs of the sale and issuance of the bonds.
A public hearing regarding the bonds was held on June 4.
