---
title: O.C.G.A. § 36-41-10. Bonds or obligations not public debt.
collection: code
id: 36-41-10
cite_as: O.C.G.A. § 36-41-10 (2025)
canonical_url: https://georgiacommons.org/code/36-41-10
md_url: https://georgiacommons.org/code/36-41-10.md
text_url: https://georgiacommons.org/code/36-41-10/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t35-t36-ch1-59-(v27)-2025-pdf.pdf?sfvrsn=66569db4_0#page=882
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: LOCAL GOVERNMENT / Provisions Applicable to Municipal Corporations Only / URBAN RESIDENTIAL FINANCE AUTHORITIES FOR LARGE MUNICIPALITIES
---

# O.C.G.A. § 36-41-10. Bonds or obligations not public debt.

No bonds or other obligations of and no indebtedness incurred by any authority shall constitute an indebtedness or obligation of the state or any county, municipality, or political subdivision thereof, nor shall any act of any authority in any manner constitute or result in the creation of an indebtedness of the state or any such county, municipality, or political subdivision. All such bonds and obligations shall be payable solely from the sources established for the payment thereof in the resolution or financing documents authorizing the issuance of such bonds; and no holder or holders of any such bonds or obligations shall ever have the right to compel any exercise of the taxing power of the state or any county, municipality, or political subdivision thereof, nor to enforce the payment thereof against any property of the state or any such county, municipality, or political subdivision.

## History

Ga. L. 1979, p. 4662, § 11; Ga. L. 1982, p. 3, § 36; Ga. L. 1985, p. 391, § 9; Ga. L. 1987, p. 150, § 10.