---
title: O.C.G.A. § 46-9-331. Purpose of authority’s creation; tax exemption.
collection: code
id: 46-9-331
cite_as: O.C.G.A. § 46-9-331 (2025)
canonical_url: https://georgiacommons.org/code/46-9-331
md_url: https://georgiacommons.org/code/46-9-331.md
text_url: https://georgiacommons.org/code/46-9-331/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t46-(v34)-2025-pdf.pdf?sfvrsn=48adb3c4_0#page=901
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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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Session of the General Assembly of Georgia
heading_path: PUBLIC UTILITIES AND PUBLIC TRANSPORTATION / TRANSPORTATION OF FREIGHT AND PASSENGERS GENERALLY / SOUTHWEST GEORGIA RAILROAD EXCURSION AUTHORITY
---

# O.C.G.A. § 46-9-331. Purpose of authority’s creation; tax exemption.

The authority is created for nonprofit and public purposes; and it is found, determined, and declared that the creation of the authority and the carrying out of its corporate purpose is in all respects for the benefit of the people of the state, that the authority is an institution of purely public charity and will be performing an essential governmental function in the exercise of the powers conferred upon it by this article, and for such reasons the state covenants with the holders from time to time of the bonds, notes, and other obligations issued hereunder that the authority shall not be required to pay any taxes or assessments imposed by the state or any of its counties, municipal corporations, political subdivisions, or taxing districts upon any property acquired by the authority or under its jurisdiction, control, possession, or supervision or leased by it to others or upon its activities in the operation or maintenance of any such property or on any income derived by the authority in the form of fees, recording fees, rentals, charges, purchase price, installments, or otherwise, and that the bonds, notes, and other obligations of the authority, their transfer, and the income therefrom shall at all times be exempt from taxation within the state.

## History

Code 1981, § 46-9-331, enacted by Ga. L. 2000, p. 1117, § 1.