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Georgia State Code
Title      31
Chapter       7  
Section Navigation     1 ... 6           7 ... 14    
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   164 ... 176.1     177 ... 196   
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Section<<< 112 113 114 115 116 117 118 119 120 130 >>>  
Title 31, Chapter 7, Section 117 (31-7-117)

No bonds or other obligations of and no indebtedness incurred by any authority shall constitute an indebtedness or obligation of the state or any county, municipal corporation, or political subdivision thereof; nor shall any act of any 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. All such bonds and obligations shall be payable solely from the revenues therein pledged to such payment, including pledged rentals, sales proceeds, insurance proceeds, and condemnation awards. No holder or holders of any such bonds or 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 any property of the state or any such county, municipal corporation, or political subdivision.

Sunday May 24 11:54 EDT


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