---
title: O.C.G.A. § 20-3-163. Credit of state not pledged.
collection: code
id: 20-3-163
cite_as: O.C.G.A. § 20-3-163 (2025)
canonical_url: https://georgiacommons.org/code/20-3-163
md_url: https://georgiacommons.org/code/20-3-163.md
text_url: https://georgiacommons.org/code/20-3-163/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t20-ch3-18-(v17a)-2025-pdf.pdf?sfvrsn=10d12596_0#page=119
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.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Session of the General Assembly of Georgia
heading_path: EDUCATION / POSTSECONDARY EDUCATION / GEORGIA EDUCATION AUTHORITY (UNIVERSITY)
---

# O.C.G.A. § 20-3-163. Credit of state not pledged.

Revenue bonds issued under this article shall not be deemed to constitute a debt of the state or a pledge of the faith and credit of the state, but such bonds shall be payable solely from the fund provided for in Code Section 20-3-166; 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; and all such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section; provided, however, such funds as may be received from state appropriations or from any other source are declared to be available and may be used by the board of regents for the performance of any lease contract entered into by the board.

## History

Ga. L. 1949, p. 1009, § 14.