Georgia § 50-32-32 - Guaranteed revenue bonds.
Full text of Georgia Official Code of Georgia Annotated § 50-32-32 — Guaranteed revenue bonds., with citation guidance and answers to common questions.
§ 50-32-32. Guaranteed revenue bonds.
The authority shall have the power and is authorized to issue guaranteed revenue bonds in a maximum aggregate principal amount not to exceed $1 billion, under the terms and conditions set forth in this chapter, pursuant to the provisions of Article 2 of Chapter 17 of this title, which bonds shall constitute guaranteed revenue debt under Article VII, Section IV, Paragraph III of the Constitution of this state. The General Assembly hereby finds and determines that such issue will be self-liquidating over the life of the issue and declares its intent to appropriate an amount equal to the highest annual debt service requirements for such issue. The proceeds of such bonds and the investment earnings thereon shall be used to finance land public transportation facilities or systems, including any costs of such projects. The guaranteed revenue bonds and the interest payable thereon shall be exempt from all taxation within the state imposed by the state or any county, municipal corporation, or other political subdivision of the state. (Code 1981, § 50-32-32 , enacted by Ga. L. 1999, p. 112, § 7; Ga. L. 2019, p. 1056, § 50/SB 52.) The 2019 amendment, effective May 12, 2019, part of an Act to revise, modernize, and correct the Code, revised punctuation in the second sentence of subsection (a).
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 50-32-32
What does Official Code of Georgia Annotated § 50-32-32 cover?
Section 50-32-32 ("Guaranteed revenue bonds.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 50-32-32?
A common citation format is "Official Code of Georgia Annotated § 50-32-32" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 50-32-32 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.