It is hereby found, determined and declared, that the creation of the authority, and
the carrying out of its corporate purpose, is in all respects for the benefit of the
people of this state, and is a public purpose and that the authority will be performing
an essential governmental function in the exercise of the power conferred upon it
by this division, and this state covenants with the holders of the bonds that the
authority shall be required to pay no taxes or assessments upon any of the property
acquired or leased by it, or under its jurisdiction, control, possession or supervision,
or upon its activities in the operation or maintenance of the buildings erected or
acquired by it, or any fees, rentals, or other charges, for the use of such buildings,
or other income received by the authority, and that the bonds of the authority, their
transfer, and the income therefrom shall at all times be exempt from taxation within
the state.
(1980 Ga. Laws (Act No. 1373), page 4488, § 21)
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