Title 12, Chapter 8, Section 59
( 12-8-59)
No bonds or other obligations of and no indebtedness incurred by any
authority shall constitute an indebtedness or obligation of the
State of Georgia or of 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 of any such county, municipal corporation, or
political subdivision. However, provisions of this Code section
shall not preclude counties, municipal corporations, or other
political subdivisions from choosing to guarantee the bonds,
indebtedness, or other obligations of a regional solid waste
authority as part of its demonstration of adequate financial
responsibility pursuant to this part. All such bonds and
obligations shall be payable solely from the revenues therein
pledged to such payment, including pledged rentals, sales proceeds,
insurance proceeds, and condemnation awards; and no holder or
holders of any such bonds or obligation shall ever have the right to
compel any exercise of the taxing power of this state or of any
county, municipal corporation, or political subdivision thereof or
to enforce the payment thereof against any property of the state or
of any such county, municipal corporation, or political subdivision. |