Revenue bonds issued under this chapter shall not be deemed to constitute a debt of the state or a pledge of the faith and credit of the state, but such bonds shall be payable solely from the property provided for in Code Section 20-16-5; and the issuance of such revenue bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment; and all such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section.
History. Code 1981, § 20-16-10 , enacted by Ga. L. 2006, p. 783, § 1/SB 562.
Structure Georgia Code
Chapter 16 - Georgia Higher Education Facilities Authority
§ 20-16-2. Definitions; “Self-Liquidating” Projects
§ 20-16-9. Timing of Issuance of Revenue Bonds
§ 20-16-10. Bonds Do Not Create a Debt of the State; Recitals on Face of Bonds
§ 20-16-11. Investment in Bonds by Public Officers and Public Bodies
§ 20-16-12. Bonds and Income Therefrom Exempt From Taxation
§ 20-16-13. Attorney General to Provide Legal Services for the Authority; Accountability
§ 20-16-15. Funds Received Pursuant to This Chapter to Be Held in Trust
§ 20-16-16. Additional and Alternative Method
§ 20-16-17. Liberal Construction of Chapter
§ 20-16-18. Creation of Georgia Higher Education Facilities Authority Committee