No bonds, notes, or other obligations of and no indebtedness incurred by the 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 the authority in any manner constitute or result in the creation of an indebtedness of the state or any such county, municipal corporation, or political subdivision. 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. Code 1981, § 46-9-279 , enacted by Ga. L. 1985, p. 1283, § 1.
Structure Georgia Code
Title 46 - Public Utilities and Public Transportation
Chapter 9 - Transportation of Freight and Passengers Generally
Article 9 - Georgia Rail Passenger Authority Law
§ 46-9-271. Legislative Purpose
§ 46-9-273. Powers of Authority Generally
§ 46-9-275. Issuance of Revenue Bonds, Notes, or Other Obligations; Refunding Bonds
§ 46-9-277. Public Purpose of Article
§ 46-9-278. Liberal Construction to Effect Stated Purpose
§ 46-9-280. Exemption of Authority From Taxes or Assessments