O.C.G.A.
O.C.G.A.

O.C.G.A. § 36-42-12 (2019)

Obligations of authorities not public debt of state or political subdivision thereof

✓ 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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No bonds, notes, or other obligations of, and no indebtedness incurred by, an 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 any authority in any manner constitute or result in the creation of an indebtedness of this state or any county, municipal corporation, or political subdivision thereof. 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.

History

Ga. L. 1981, p. 1744, § 11.

Notes of Decisions
Cited in 1 case, 1985–1985 · leading case: Nations v. Downtown Dev. Auth., 338 S.E.2d 240 (Ga. 1985).
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Nations v. Downtown Dev. Auth., 338 S.E.2d 240 (Ga. 1985). · cites it 4× “Moreover, OCGA § 36-42-12 provides that no holder of downtown development authority bonds "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…”
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.