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, § 50-39-37 , enacted by Ga. L. 2018, p. 377, § 2-1/HB 930.
Structure Georgia Code
Chapter 39 - Atlanta-Region Transit Link “Atl” Authority
§ 50-39-30. Utilization of Funding Resources
§ 50-39-31. Responsibility for Use of Federal Funds
§ 50-39-33. Guaranteed Revenue Bonds; Exemption From Taxation
§ 50-39-34. Bonds as Securities; Investments
§ 50-39-35. Protection and Assurances to Bond Owners
§ 50-39-36. Exemption From Georgia Uniform Securities Act
§ 50-39-37. State Debt Not Created; Guarantee of Payment
§ 50-39-38. Authority Is Created for Benefit of the State’s People; Tax Exemption