Bonds issued under this article shall not be deemed to constitute a debt of the State of Georgia or a pledge of the credit of the state, but such bonds shall be payable solely from the fund provided for in Code Section 32-10-42; and the issuance of such bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatsoever therefor or to make any appropriation for the payment; and all such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section.
History. Ga. L. 1953, Jan.-Feb. Sess., p. 626, § 23; Ga. L. 1955, p. 124, § 24; Ga. L. 1967, p. 385, § 23; Code 1933, § 95A-1223, enacted by Ga. L. 1973, p. 947, § 1.
Structure Georgia Code
Title 32 - Highways, Bridges, and Ferries
Chapter 10 - Public Authorities
Article 1 - Georgia Highway Authority
§ 32-10-30. Power of Authority to Issue Bonds Generally; Attributes of Bonds Generally
§ 32-10-32. Form and Issuance of Bonds
§ 32-10-33. Signing Bonds; Affixing Authority’s Seal to Bonds
§ 32-10-34. Bonds as Negotiable Instruments; Tax Exemption
§ 32-10-36. Issuance of Interim Receipts, Interim Certificates, and Temporary Bonds
§ 32-10-37. Replacement of Lost or Mutilated Bonds
§ 32-10-38. Resolutions for Bond Issuance; Issuance of Bonds of a Single Issue
§ 32-10-39. Effect of Bond Issuance on State Debt; Recitals on Face of Bonds Regarding Such Effect
§ 32-10-40. Trust Indentures as Security for Bonds
§ 32-10-41. Payment of Bond Proceeds to Trustee
§ 32-10-42. Pledges of Revenues, Rents, and Earnings; Creation and Disposition of Sinking Funds
§ 32-10-45. Investment of Funds in Bonds; Deposit of Bonds as Securities
§ 32-10-46. Protection of Interests and Rights of Bondholders
§ 32-10-47. Confirmation and Validation of Bonds
§ 32-10-48. Adjudication Regarding Lease Contracts and Rental Income
§ 32-10-49. Covenant With Holders of Bonds as to Tax-Exempt Status of Authority Property and Bonds