Georgia Code
Chapter 42 - Downtown Development Authorities
§ 36-42-12. Obligations of Authorities Not Public Debt of State or Political Subdivision Thereof

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.
History. Ga. L. 1981, p. 1744, § 11.

Structure Georgia Code

Georgia Code

Title 36 - Local Government

Chapter 42 - Downtown Development Authorities

§ 36-42-1. Short Title

§ 36-42-2. Legislative Purpose

§ 36-42-3. Definitions

§ 36-42-4. Creation of Authorities; Appointment and Terms of Directors; Quorum

§ 36-42-5. Activation of Authority by Resolution; Filing of Resolution With Secretary of State and Department of Community Affairs; Comments by Department of Community Affairs

§ 36-42-6. Action by Resolution Subsequent to Activating Authority

§ 36-42-7. Qualifications and Reimbursement of Directors; Election of Officers; Training

§ 36-42-8. Powers of Authorities Generally

§ 36-42-9. Revenue Bonds Generally

§ 36-42-10. Applicability of “Revenue Bond Law”; Form and Provisions for Exchange and Transfer of Bonds; Certificate of Validation; Specification of Interest Rates in Notice to District Attorney or Attorney General

§ 36-42-11. Agreements and Instruments of Authority Generally; Use of Proceeds; Subsequent Issues; Bond Anticipation Notes

§ 36-42-12. Obligations of Authorities Not Public Debt of State or Political Subdivision Thereof

§ 36-42-13. Constitutional Authority for Enactment of Chapter; Tax Exemption

§ 36-42-14. Effect of Chapter on Other Public Authorities

§ 36-42-15. Construction of Chapter; Applicability of the “Georgia Uniform Securities Act of 2008.”

§ 36-42-16. Creation of Special Districts

§ 36-42-17. Assessments Under Code Section 36-42-16; Priority of Liens Regarding Assessments for Downtown Development Authorities