Title 36, Chapter 42, Section 12
( 36-42-12)
No bonds, notes, or other obligations of, and no indebtedness
incurred by, an authority shall constitute an indebtedness or
obligation of the State of Georgia or 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 any county, municipal corporation,
or political subdivision thereof. No holder or holders of any such
bonds, notes, or other obligations shall ever have the right to
compel any exercise of the taxing power of the state or any county,
municipal corporation, or political subdivision thereof, nor to
enforce the payment thereof against the state or any such county,
municipal corporation, or political subdivision. |