No bonds, notes, or other obligations of and no indebtedness incurred by the authority shall constitute an indebtedness or obligation or a pledge of the faith and credit of the State of Georgia or of its agencies; nor shall any act of the authority in any manner constitute or result in the creation of an indebtedness of the state or its agencies or a cause of action against the state or its agencies; provided, however, the state, to the extent permitted by its Constitution, may guarantee payment of such bonds, notes, or other obligations as guaranteed revenue debt.
History. Code 1981, § 50-23-14 , enacted by Ga. L. 1986, p. 569, § 1; Ga. L. 1992, p. 6, § 50; Ga. L. 1994, p. 1108, § 6.
Structure Georgia Code
Chapter 23 - Environmental Finance Authority
Article 1 - Environmental Finance Authority
§ 50-23-5. Purpose, Powers, and Duties
§ 50-23-6. Loans to Local Governments; Repayment
§ 50-23-8. Issuing and Refunding of Bonds
§ 50-23-11. Pledge of State Not to Alter or Limit the Rights of Bondholders
§ 50-23-12. Personal Liability of Members of Authority, Officers, and Employees
§ 50-23-14. Bonds Not Indebtedness of State; Guarantee of Bonds by State
§ 50-23-15. Exemptions From Taxation
§ 50-23-16. Rights Under Federal Constitution
§ 50-23-18. Liberal Construction
§ 50-23-19. Limitation on Issue of Bonds
§ 50-23-21. Grants for Clean Energy Property; Rules and Regulations; Annual Report