Official Code of Georgia Annotated

Title 46. PUBLIC UTILITIES AND PUBLIC TRANSPORTATION · Chapter 9. TRANSPORTATION OF FREIGHT AND PASSENGERS GENERALLY · Article 9. GEORGIA RAIL PASSENGER AUTHORITY LAW

46-9-279. Status of bonds and other obligations as constituting debt or obligation of state, county, or other political subdivisions.

Active

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

No bonds, notes, or other obligations of and no indebtedness incurred by the authority shall constitute an indebtedness or obligation of the State of Georgia or any county, municipal corporation, or political subdivision thereof nor shall any act of the authority in any manner constitute or result in the creation of an indebtedness of the state or any such county, municipal corporation, or political subdivision. No holder or holders of any such bonds, notes, or other obligations shall ever have the right to compel any exercise of the taxing power of the state or any county, municipal corporation, or political subdivision thereof nor to enforce the payment thereof against the state or any such county, municipal corporation, or political subdivision.

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

Code 1981, § 46-9-279, enacted by Ga. L. 1985, p. 1283, § 1.

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

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

Text read from t46-(v34)-2025-pdf.pdf, Volume V34, 2025 edition, pages 883 to 884; merge action: bound only; file SHA-256 53ab60ae5027.