---
title: O.C.G.A. § 12-3-268. Revenue bonds — Protection of bondholders; part as constituting a contract with bondholders.
collection: code
id: 12-3-268
cite_as: O.C.G.A. § 12-3-268 (2025)
canonical_url: https://georgiacommons.org/code/12-3-268
md_url: https://georgiacommons.org/code/12-3-268.md
text_url: https://georgiacommons.org/code/12-3-268/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t12-(v10)-2021-pdf.pdf?sfvrsn=67595359_0#page=193
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/12-3.md
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: CONSERVATION AND NATURAL RESOURCES / PARKS, HISTORIC AREAS, MEMORIALS, AND RECREATION / PUBLIC AUTHORITIES / JEKYLL ISLAND—STATE PARK AUTHORITY
---

# O.C.G.A. § 12-3-268. Revenue bonds — Protection of bondholders; part as constituting a contract with bondholders.

While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority, or of its officers, employees, or agents, or of any department, board, commission, or agency of the state, shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of such bonds. No other entity, department, agency, or authority will be created which will compete with the authority to such an extent as to affect adversely the interests and rights of the holders of such bonds, nor will the state itself so compete with the authority. This part shall be for the benefit of the state, the authority, and the holders of any such bonds and, upon the issuance of bonds under the provisions of this part, shall constitute a contract with the holders of such bonds.

## History

Ga. L. 1950, p. 152, § 22; Ga. L. 1960, p. 89, § 1.