Section 50-23-14. Bonds not indebtedness of state; guarantee of bonds by state

   No bonds, notes, or other obligations of and no indebtedness incurred by the authority 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.

Code 1981, § 50-23-14, enacted by Ga. L. 1986, p. 569, § 1; Ga. L. 1992, p. 6, § 50; Ga. L. 1994, p. 1108, § 6.