Neither the members of an authority nor any person executing certificates on behalf of an authority shall be personally liable thereon by reason of the issuance thereof. The certificates and other obligations of an authority shall not be, and shall so state on the face thereof, a debt of the city, the county, the state or any political subdivision thereof, or any combination of subdivisions acting jointly as provided in this article. Certificates of any authority are declared to be issued for an essential public and governmental purpose and, together with interest thereon and income therefrom, shall be exempt from all taxes.
(Ga. L. 1941, p. 241, § 7; Ga. L. 1955, p. 618, § 1; Code 1933, § 88-1808, enacted by Ga. L. 1964, p. 499, § 1.)
Law reviews.- For article, "Hospital Liability for Physician Negligence in Georgia: A Realistic Approach," see 37 Mercer L. Rev. 701 (1986).
JUDICIAL DECISIONS
Code section constitutional.
- This section does not violate provisions of Ga. Const. 1976, Art. VII, Sec. III, Para. IV (see now Ga. Const. 1983, Art. VII, Sec. IV, Para. VIII) since revenue anticipation certificates issued by a hospital authority are not obligations or debts of the state, nor a pledge of the state's credit, but are a corporate debt of the authority. Bradfield v. Hospital Auth., 226 Ga. 575, 176 S.E.2d 92 (1970).
Cited in Cox Enters., Inc. v. Carroll City/County Hosp. Auth., 247 Ga. 39, 273 S.E.2d 841 (1981); United States v. Hosp. Auth. of Charlton County (In re Hosp. Auth. of Charlton County), 56 Bankr. Ct. Dec. (LRP) 220 (Bankr. S.D. Ga. July 3, 2012).