No bonds, notes, or other obligations of and no indebtedness incurred by the authority, other than guaranteed revenue bonds, 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, § 50-32-36 , enacted by Ga. L. 1999, p. 112, § 7.
Structure Georgia Code
Chapter 32 - Georgia Regional Transportation Authority
§ 50-32-32. Guaranteed Revenue Bonds
§ 50-32-33. Bonds Are Made Securities
§ 50-32-34. Pledge by the State
§ 50-32-35. Applicability of Chapter 5 of Title 10
§ 50-32-36. State Immune From Obligations or Indebtedness Created by Authority
§ 50-32-38. Issuance of Bonds or Other Obligations Subject to Approval of Commission