Official Code of Georgia Annotated
Title 32. HIGHWAYS, BRIDGES, AND FERRIES · Chapter 10. PUBLIC AUTHORITIES · Article 1. GEORGIA HIGHWAY AUTHORITY · Part 2. REVENUE BONDS
32-10-39. Effect of bond issuance on state debt; recitals on face of bonds regarding such effect.
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
Bonds issued under this article shall not be deemed to constitute a debt of the State of Georgia or a pledge of the credit of the state, but such bonds shall be payable solely from the fund provided for in Code Section 32-10-42; and the issuance of such bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatsoever therefor or to make any appropriation for the payment; and all such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section.
History
Ga. L. 1953, Jan.-Feb. Sess., p. 626, § 23; Ga. L. 1955, p. 124, § 24; Ga. L. 1967, p. 385, § 23; Code 1933, § 95A-1223, enacted by Ga. L. 1973, p. 947, § 1.
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Current through: Including Acts of the 2025 Regular Session of the General Assembly.
Text read from t32-(v23a)-2019-pdf.pdf, Volume V23A, 2019 edition, pages 430 to 431; merge action: carried; file SHA-256 04a286a38b4e.