§ 2-196. Bonds not to constitute public debt.  


Latest version.
  • Revenue bonds issued under the provisions of this division shall not be deemed to constitute a debt of the State of Georgia, County of Cobb or the City of Marietta nor a pledge of the faith and credit of said state, county or city; but such bonds shall be payable solely from the funds hereinafter provided for; and the issuance of such revenue bonds shall not directly, indirectly or contingently obligate the said state, county or city 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.

(1981 Ga. Laws (Act No. 667), page 4350, § 3)