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 interests 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 interests and rights of the holders of such bonds, nor will the state
itself so compete with the authority. 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.
(1951 Ga. Laws (Act No. 319), page 497, § 22)
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