§ 38-39. Bonds not to constitute public debt.  


Latest version.
  • Revenue bonds issued under the provisions of this article shall not be deemed to constitute a debt of Cobb County or the City of Marietta or a pledge of the faith and credit of either subdivision, 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 either the said 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.

(1951 Ga. Laws (Act No. 319), page 497, § 14)