GEORGIA CODE (Last Updated: August 20, 2013) |
Title 46. PUBLIC UTILITIES AND PUBLIC TRANSPORTATION |
Chapter 9. TRANSPORTATION OF FREIGHT AND PASSENGERS GENERALLY |
Article 11. SOUTHWEST GEORGIA RAILROAD EXCURSION AUTHORITY |
Section 46-9-330. Indebtedness not obligation of state or political subdivision
Latest version.
- No bonds, notes, or other obligations of and no indebtedness incurred by the 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 the authority in any manner constitute or result in the creation of an indebtedness of the state or any such county, municipal corporation, or political subdivision. 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.
Code 1981, § 46-9-330, enacted by Ga. L. 2000, p. 1117, § 1.