§ 46-9-279 - Status of bonds and other obligations as constituting debt or obligation of state, county, or other political subdivisions - Georgia Statutes

O.C.G.A. 46-9-279 (2010)
46-9-279. Status of bonds and other obligations as constituting debt or obligation of state, county, or other political subdivisions

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.