There Is a Newer Version
of
the Georgia Code
2006 Georgia Code - 36-75-2
36-75-2. This chapter is enacted pursuant to authority
granted to the General Assembly by the Constitution of Georgia.
Each authority created by this chapter is created for nonprofit and
public purposes; and it is found, determined, and declared that the
creation of each such 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 will be performing an essential governmental
function in the exercise of the power conferred upon it by this
chapter. For such reasons, the state covenants the holders of the
bonds issued under this chapter that such authority shall be
required to pay no taxes or assessments imposed by the state or any
of its counties, municipal corporations, political subdivisions, or
taxing districts upon any property acquired by the authority or
under its jurisdiction, control, possession, or supervision or
leased by it to others; or upon its activities in the operation or
maintenance of any such property or on any income derived by the
authority in the form of fees, recording fees, rentals, charges,
purchase price, installments, or otherwise; and that the bonds of
such authority, their transfer, and the income therefrom shall at
all times be exempt from taxation within the state. The tax
exemption provided in this Code section shall not include any
exemption from sales and use tax on property purchased by the
authority or for use by the authority.
Disclaimer: These codes may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
