Georgia Statutes
§ 36-42-12 — Obligations of authorities not public debt of state or political subdivision thereof
Georgia·Title 36
No bonds, notes, or other obligations of, and no indebtedness incurred by, an 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 any authority in any manner constitute or result in the creation of an indebtedness of this state or any county, municipal corporation, or political subdivision thereof. 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.
Free access — add to your briefcase to read the full text and ask questions with AI
Georgia § 36-42-12 (Obligations of authorities not public debt of state or political subdivision thereof) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Nations v. Downtown Development Authority
338 S.E.2d 240 (Supreme Court of Georgia, 1985)