Title 42, Chapter 4, Section 101
( 42-4-101)
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 jail authority as part of
its demonstration of adequate financial responsibility pursuant to
this article. 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 bond 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. |