It is found, determined, and declared that the creation of the authority and the carrying
out of its corporate purposes is in all respects for the benefit of the people of
this state, and that the authority is an institution of purely public charity, and
that all property of said authority is declared and shall in all respects be considered
to be public property and title to such property shall be held by the authority only
for the benefit of the public, and the use of such property pursuant to the terms
of this Act shall be and is declared to be for public and governmental purposes, that
is, for the preservation of Lake Allatoona, and all the property, income, obligations,
and interest on the obligations of the authority and the transfer thereof shall be
and are declared to be nontaxable for any and all purposes.
(1999 Ga. Laws (Act No. 283, page 4815, § 4)
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