§ 74-147. Act and article as contracts.

The act and this article constitute contracts with the holders of revenue bonds issued under the act, as declared in section 10(q) of the act, and said contracts are made in part for the purpose of securing and inducing investors to buy the revenue bonds of the authority, and the provisions of the federal and Georgia Constitutions prohibiting the passage of laws impairing the obligations of contracts protect the rights and security of the holders of such bonds under such contracts from impairment by the General Assembly of the State of Georgia or by the county.

(91-RM-294, § 5(art. IV, § 7), 7-3-91)