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Official Code of Georgia Annotated

Title 12. CONSERVATION AND NATURAL RESOURCES · Chapter 3. PARKS, HISTORIC AREAS, MEMORIALS, AND RECREATION · Article 7. PUBLIC AUTHORITIES · Part 3. LAKE LANIER ISLANDS DEVELOPMENT AUTHORITY

12-3-331. Revenue bonds — Status as constituting debt or pledge of faith or credit of state; effect of issuance on obligation of state to tax or make appropriations; recitals on face of bonds.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. Revenue bonds issued under this part shall not be deemed to constitute a debt of the State of Georgia or a pledge of the faith and credit of the state. Such bonds shall be payable solely from the fund provided for in Code Section 12-3-334, and the issuance of such revenue bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment. All such bonds shall contain recitals on their faces covering substantially the foregoing provisions of this Code section. Anything in this Code section to the contrary notwithstanding, such funds as may be received from state appropriations or from any other source are declared to be available and may be used by any department, board, commission, or agency of the State of Georgia for the performance of any lease contract entered into by such department, board, commission, or agency.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Ga. L. 1962, p. 736, § 12; Ga. L. 1969, p. 397, § 2.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t12-(v10)-2021-pdf.pdf, Volume V10, 2021 edition, page 227; merge action: carried; file SHA-256 a1ca11f804f2.