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; and all such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section.
History. Code 1981, § 6-4-12 , enacted by Ga. L. 1992, p. 1615, § 1.
Structure Georgia Code
Chapter 4 - Georgia Airport Development Authority
§ 6-4-2. Authority Created; Purposes
§ 6-4-4. Corporate Existence; Status as Political Subdivision
§ 6-4-6. Members Accountable as Trustees; Conflict of Interests; Books and Records
§ 6-4-8. Requirements for Issuance of Revenue Bonds, Notes, or Other Obligations
§ 6-4-9. Additional Provisions Governing Issuance of Bonds, Notes, or Other Obligations
§ 6-4-10. Development of Air Transportation Projects
§ 6-4-11. Liberal Construction of Chapter
§ 6-4-15. Other Authorities Unaffected by Provisions of Chapter