TITLE 32 HIGHWAYS, BRIDGES, AND FERRIES

Section 10. Public Authorities, 32-10-1 through 32-10-133.

ARTICLE 1 GEORGIA HIGHWAY AUTHORITY

32-10-39. Effect of bond issuance on state debt; recitals on face of bonds regarding such effect.

Bonds issued under this article shall not be deemed to constitute a debt of the State of Georgia or a pledge of the credit of the state, but such bonds shall be payable solely from the fund provided for in Code Section 32-10-42; and the issuance of such bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatsoever therefor or to make any appropriation for the payment; and all such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section.

(Ga. L. 1953, Jan.-Feb. Sess., p. 626, § 23; Ga. L. 1955, p. 124, § 24; Ga. L. 1967, p. 385, § 23; Code 1933, § 95A-1223, enacted by Ga. L. 1973, p. 947, § 1.)