§ 2-399. Bonds not to constitute debt to state or subdivision of state.
Latest version.
Revenue bonds issued under the provisions of this division shall not be deemed to
constitute a debt of the State of Georgia, nor of any political subdivision thereof
nor of any municipal corporation thereof, or a pledge of the faith and credit of the
state, nor of any political subdivision thereof nor of any municipal corporation thereof,
but such bonds shall be payable solely from the fund hereinafter provided for and
the issuance of such revenue bonds shall not directly, indirectly or contingently
obligate the state, nor any political subdivision or municipal corporation thereof,
to levy or to pledge any form of taxation whatever therefor or to make any appropriation
for the payment, and all such bonds shall contain recitals on their face covering
substantially the foregoing provisions of this section: Provided, however, such funds
may be received from appropriations or from any other source as hereby declared to
be available and may be used by any department, board, commission or agency for the
performance of any lease contract entered into by said board.
