O.C.G.A.

O.C.G.A. § 52-2-24 (2019)

Revenue bonds - Status of bonds as a debt of state or

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
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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a pledge of faith and credit of state; issuance as obligating state to levy tax or make appropriation; obligation to pay principal and interest on bonds; recitals on face of bonds. Revenue bonds issued under this chapter 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 in this chapter therefor from earnings. The issuance of such revenue bonds shall not directly or indirectly or contingently obligate the state to levy or to pledge any form of taxation whatever therefor from earnings; and the issuance of such revenue bonds shall not directly or 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. Neither the state nor the authority shall be obligated to pay the principal of or the interest on such revenue bonds except from earnings of the project or projects for which they shall be issued. All such revenue bonds shall contain recitals on their face covering the foregoing provisions of this Code section.

History

Ga. L. 1945, p. 464, § 6.

Annotations

JUDICIAL DECISIONS Cited in State Ports Auth. v. Arnall, 201 Ga. 713, 41 S.E.2d 246 (1947).

Notes of Decisions
Cited in 1 case, 2004–2004 · leading case: Hines v. Georgia Ports Auth., 604 S.E.2d 189 (Ga. 2004).
Hines v. Georgia Ports Auth., 604 S.E.2d 189 (Ga. 2004). · cites it 2× “19 OCGA§ 52-2-24. 20 OCGA §§ 52-2-9 (8), 52-2-11.”
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.