While any of the bonds issued by the authority remain outstanding, the powers, duties
or existence of said authority, or of its officers, employees or agents, shall not
be diminished or impaired in any manner that will affect adversely the interest and
rights of the holders of such bonds, and no other entity, department, agency or authority
will be created which will compete with the authority to such an extent as to affect
adversely the interest and rights of the holders of such bonds. The provisions of
this article shall be for the benefit of the authority and the holders of any such
bonds, and upon the issuance of bonds under the provisions hereof, shall constitute
a contract with the holders of such bonds.
(1960 Ga. Laws (Act No. 766), page 2810, § 22)
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