§ 50-9-39 - Not debt or pledge of credit of state; bonds to contain recital of provisions - Georgia Statutes

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Statutes > Georgia > Title-50 > Chapter-9 > Article-2 > 50-9-39

O.C.G.A. 50-9-39 (2010)
50-9-39. Not debt or pledge of credit of state; bonds to contain recital of provisions

Revenue bonds issued under this article and Article 1 of this chapter shall not be deemed to constitute a debt of the state or a pledge of the faith and credit of the state, but the bonds shall be payable solely from the fund provided for in Code Section 50-9-42; and the issuance of the revenue bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatever therefor or to make any appropriation for the payment. All such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section; provided, however, that such funds as may be received from state appropriations or from any other source are declared to be available to any department, board, commission, or agency of the state and may be used for the performance of any lease contract entered into by such department, board, commission, or agency of the state.

State Codes and Statutes

Statutes > Georgia > Title-50 > Chapter-9 > Article-2 > 50-9-39

O.C.G.A. 50-9-39 (2010)
50-9-39. Not debt or pledge of credit of state; bonds to contain recital of provisions

Revenue bonds issued under this article and Article 1 of this chapter shall not be deemed to constitute a debt of the state or a pledge of the faith and credit of the state, but the bonds shall be payable solely from the fund provided for in Code Section 50-9-42; and the issuance of the revenue bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatever therefor or to make any appropriation for the payment. All such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section; provided, however, that such funds as may be received from state appropriations or from any other source are declared to be available to any department, board, commission, or agency of the state and may be used for the performance of any lease contract entered into by such department, board, commission, or agency of the state.

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State Codes and Statutes

Statutes > Georgia > Title-50 > Chapter-9 > Article-2 > 50-9-39

O.C.G.A. 50-9-39 (2010)
50-9-39. Not debt or pledge of credit of state; bonds to contain recital of provisions

Revenue bonds issued under this article and Article 1 of this chapter shall not be deemed to constitute a debt of the state or a pledge of the faith and credit of the state, but the bonds shall be payable solely from the fund provided for in Code Section 50-9-42; and the issuance of the revenue bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatever therefor or to make any appropriation for the payment. All such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section; provided, however, that such funds as may be received from state appropriations or from any other source are declared to be available to any department, board, commission, or agency of the state and may be used for the performance of any lease contract entered into by such department, board, commission, or agency of the state.