Liberal construction to effect stated purpose

The provisions of this article shall be liberally construed to effect its stated purpose. The offer, sale, or issuance of bonds, notes, or other obligations by the authority shall not be subject to regulation under the Georgia laws regulating the sale of securities, as heretofore and hereafter amended. No notice, proceeding, or publication except those required by this article shall be necessary to the performance of any act authorized by this article, nor shall any such act be subject to referendum. (Code 1981, § 46-9-278, enacted by Ga. L. 1985, p. 1283, § 1.) 46-9-279. Status of bonds and other obligations as constituting debt or obligation of state, county, or other political subdivisions. No bonds, notes, or other obligations of and no indebtedness incurred by the authority shall constitute an indebtedness or obligation of the State of Georgia or any county, municipal corporation, or political subdivision thereof nor shall any act of the authority in any manner constitute or result in the creation of an indebtedness of the state or any such county, municipal corporation, or political subdivision. No holder or holders of any such bonds, notes, or other obligations shall ever have the right to compel any exercise of the taxing power of the state or any county, municipal corporation, or political subdivision thereof nor to enforce the payment thereof against the state or any such county, municipal corporation, or political subdivision. (Code 1981, § 46-9-279, enacted by Ga. L. 1985, p. 1283, § 1.) 46-9-280. Exemption of authority from taxes or assessments.