Revenue bonds issued under this article shall not be payable from or charged upon any funds other than the revenue pledged to the payment thereof, nor shall the governmental body issuing the same be subject to any pecuniary liability thereon. No holder or holders of any such bonds shall ever have the right to compel any exercise of the taxing power of the governmental body to pay any such bonds or the interest thereon, nor to enforce payment thereof against any property of the governmental body; nor shall any such bonds constitute a charge, lien, or encumbrance, legal or equitable, upon any property of the governmental body. Every bond issued under this article shall contain a recital setting forth the substance of this Code section.
History. Ga. L. 1937, p. 761, § 7.
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For note, “If You (Pay To) Build It, They Will Come: Rethinking Publicly-Financed Professional Sports Stadiums after the Atlanta Braves Deal with Cobb County,” see 53 Ga. L. Rev. 409 (2018).
Structure Georgia Code
§ 36-82-62. Powers as to Undertakings and Revenue Bonds Generally
§ 36-82-63. Adoption of Resolution Authorizing Undertaking and Issuance of Revenue Bonds
§ 36-82-66. Governmental Liability for Payment of Bonds; Recitation on Bond
§ 36-82-68. Powers and Duties of Receiver Generally
§ 36-82-69. Limitations on Authority of Receiver and Supervising Court
§ 36-82-70. Supervision of Receiver by Court
§ 36-82-71. Surrender of Receivership Upon Cure of Default
§ 36-82-72. Construction of Code Sections 36-82-67 Through 36-82-71 and This Code Section
§ 36-82-73. Proceedings for Validation of Revenue Bonds Generally
§ 36-82-74. Notice to District Attorney or Attorney General of Resolution Authorizing Revenue Bonds
§ 36-82-76. Notice of Hearing on Validation
§ 36-82-78. Effect of Judgment of Validation
§ 36-82-79. Entry of Reference to Judgment on Validated Bonds; Use of Entry as Evidence; Clerk’s Fee
§ 36-82-80. Payment of Costs of Proceedings
§ 36-82-81. Procedure When District Attorney or Attorney General Fails to File Petition
§ 36-82-82. Effect of Judgment of Validation Upon Failure to File Petition
§ 36-82-83. Validation of Revenue Bonds of Certain Hospital Authorities
§ 36-82-84. Applicability of Article to Common Carriers of Passengers for Hire
§ 36-82-85. Construction of Article Generally; Applicability of Certain Other Provisions of Law