O.C.G.A.

O.C.G.A. § 32-10-99 (2019)

Credit of state not pledged

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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Revenue bonds issued under this article 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 from the revenues and funds of the authority as provided for in the resolutions or trust indentures authorizing or securing such bond issues; 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 whatsoever therefor or to make any appropriation for the payment thereof; and all such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section.

History

Ga. L. 1953, Jan.-Feb. Sess., p. 302, § 21; Code 1933, § 95A-1258, enacted by Ga. L. 1973, p.

947, § 1; Ga. L. 1991, p. 94, § 32; Ga. L. 2001, p. 1251, § 1-13.2.

Notes of Decisions

Cited in 1 case, 2003–2003 · leading case: Campbell v. State Road & Tollway Auth., 583 S.E.2d 32 (Ga. 2003).

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Campbell v. State Road & Tollway Auth., 583 S.E.2d 32 (Ga. 2003). · cites it 2× “See Trust Indenture §§ 203, 401 & 1302; see also OCGA § 32-10-99 (2001) (credit of state not pledged).”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.