2010 Georgia Code 20-3-163 Case Law
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One Click Case Law for § 20-3-163
O.C.G.A. § 20-3-162 <-- --> O.C.G.A. §20-3-164



2010 Georgia Code

TITLE 20 - EDUCATION

CHAPTER 3 - POSTSECONDARY EDUCATION
ARTICLE 5 - GEORGIA EDUCATION AUTHORITY (UNIVERSITY)
§ 20-3-163 - Credit of state not pledged

O.C.G.A. 20-3-163 (2010)
20-3-163. Credit of state not pledged


Revenue bonds issued under this article shall not be deemed to constitute a debt of the state or a pledge of the faith and credit of the state, but such bonds shall be payable solely from the fund provided for in Code Section 20-3-166; and the issuance of such revenue bonds shall not directly, indirectly, or contingently obligate the state to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment; and all such bonds shall contain recitals on their face covering substantially the foregoing provisions of this Code section; provided, however, such funds as may be received from state appropriations or from any other source are declared to be available and may be used by the board of regents for the performance of any lease contract entered into by the board.

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Graham W. Syfert, Esq., P.A.
Phone: 904-383-7448
Fax: 904-638-4726

graham@syfert.com