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

GA Code § 50-32-36 (2018) (N/A)
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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.

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§ 50-32-37. Legislative findings; bonds, notes, or other obligations issued by the authority exempt from taxation