Revenue bonds issued under the provisions of this Act shall not be deemed to constitute
a debt of the State of Georgia or of the City of Johns Creek or a pledge of the faith
and credit thereof; but such bonds shall be payable solely from the rentals, revenues,
earnings, and funds of the authority as provided in the resolution or trust indenture
authorizing the issuance and securing the payment of such bonds. The issuance of such
revenue bonds shall not directly, indirectly, or contingently obligate the state or
any political subdivision thereof, specifically such city, 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 section. However, the City of Johns Creek or any political
subdivision of the state contracting with the authority may obligate itself to pay
the amounts required under any contract entered into with the authority from funds
received from taxes to be levied and collected for that purpose to the extent necessary
to pay the obligations contractually incurred under this section and from any other
source; and the obligation to make such payments shall constitute a general obligation
and a pledge of the full faith and credit of the obligor but shall not constitute
a debt of the obligor within the meaning of Article IX, Section V, Paragraph I of
the Constitution of the State of Georgia [Georgia Constitution article IX, § V, ¶
I]. When such obligation is made to make such payments from taxes to be levied for
that purpose, then the obligation shall be mandatory to levy and collect such taxes
from year to year in an amount sufficient to fulfill and fully comply with the terms
of such obligation.
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