§ 50-32-36 - State immune from obligations or indebtedness created by authority - Georgia Statutes

State Codes and Statutes

Statutes > Georgia > Title-50 > Chapter-32 > Article-3 > 50-32-36

O.C.G.A. 50-32-36 (2010)
50-32-36. State immune from obligations or indebtedness created by authority

No bonds, notes, or other obligations of and no indebtedness incurred by the authority, other than guaranteed revenue bonds, shall constitute an indebtedness or obligation or a pledge of the faith and credit of the State of Georgia or of its agencies; nor shall any act of the authority in any manner constitute or result in the creation of an indebtedness of the state or its agencies or a cause of action against the state or its agencies; provided, however, the state, to the extent permitted by its Constitution, may guarantee payment of such bonds, notes, or other obligations as guaranteed revenue debt.

State Codes and Statutes

Statutes > Georgia > Title-50 > Chapter-32 > Article-3 > 50-32-36

O.C.G.A. 50-32-36 (2010)
50-32-36. State immune from obligations or indebtedness created by authority

No bonds, notes, or other obligations of and no indebtedness incurred by the authority, other than guaranteed revenue bonds, shall constitute an indebtedness or obligation or a pledge of the faith and credit of the State of Georgia or of its agencies; nor shall any act of the authority in any manner constitute or result in the creation of an indebtedness of the state or its agencies or a cause of action against the state or its agencies; provided, however, the state, to the extent permitted by its Constitution, may guarantee payment of such bonds, notes, or other obligations as guaranteed revenue debt.

State Codes and Statutes

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State Codes and Statutes

Statutes > Georgia > Title-50 > Chapter-32 > Article-3 > 50-32-36

O.C.G.A. 50-32-36 (2010)
50-32-36. State immune from obligations or indebtedness created by authority

No bonds, notes, or other obligations of and no indebtedness incurred by the authority, other than guaranteed revenue bonds, shall constitute an indebtedness or obligation or a pledge of the faith and credit of the State of Georgia or of its agencies; nor shall any act of the authority in any manner constitute or result in the creation of an indebtedness of the state or its agencies or a cause of action against the state or its agencies; provided, however, the state, to the extent permitted by its Constitution, may guarantee payment of such bonds, notes, or other obligations as guaranteed revenue debt.