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2023 CODE OF GEORGIA
Title 50 - STATE GOVERNMENT (§§ 50-1-1 — 50-40-84)
Chapter 39 - ATLANTA-REGION TRANSIT LINK 'ATL' AUTHORITY ACT (§§ 50-39-1 — 50-39-61)
Article 3 - FUNDING (§§ 50-39-30 — 50-39-40)
Section 50-39-40 - Calculating debt limitations

Universal Citation:
GA Code § 50-39-40 (2023)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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No bonded indebtedness of any kind shall be incurred by the authority or on behalf of the authority by the Georgia Environmental Finance Authority at any time when the highest aggregate annual debt service requirements of the state for the then current fiscal year or any subsequent fiscal year for outstanding general obligation debt and guaranteed revenue debt, including the proposed debt and treating it as state general obligation debt or guaranteed revenue debt for purposes of calculating debt limitations under this Code section, and the highest aggregate annual payments for the then current fiscal year or any subsequent fiscal year of the state under all contracts then in force to which the provisions of the second paragraph of Article IX, Section VI, Paragraph I(a) of the Constitution of 1976 are applicable, exceed 7.5 percent of the total revenue receipts, less refunds of the state treasury in the fiscal year immediately preceding the fiscal year in which any such debt is to be incurred.

Added by 2018 Ga. Laws 409,§ 2-1, eff. 5/3/2018.

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