TITLE 12 CONSERVATION AND NATURAL RESOURCES

Section 3. Parks, Historic Areas, Memorials, and Recreation, 12-3-1 through 12-3-708.

ARTICLE 7 PUBLIC AUTHORITIES

12-3-261. Revenue bonds - Status as constituting debt or pledge of faith and credit of state; effect of issuance on obligation of state to tax or make appropriation; recitals on face of bonds.

Revenue bonds issued under this part shall not be deemed to constitute a debt of the State of Georgia or a pledge of the faith and credit of the state, but such bonds shall be payable solely from the fund provided for in Code Section 12-3-264, and the issuance of such revenue bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment. All such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section. Notwithstanding any other provision of this Code section, such funds as may be received from state appropriations or from any other source are declared to be available and may be used by any department, board, commission, or agency of the State of Georgia for the performance of any lease contract entered into by the department, board, commission, or agency.

(Ga. L. 1950, p. 152, § 16; Ga. L. 1960, p. 89, § 1.)