It is found, determined, and declared that the creation of the authority and the carrying out of its corporate purposes are in all respects for the benefit of the people of this state and constitute a public purpose and that the authority will be performing an essential governmental function in the exercise of the powers conferred upon it by this part. The State of Georgia covenants that the authority shall be required to pay no taxes or assessments upon any of the property acquired by it or under its jurisdiction, control, possession, or supervision or upon its activities in the operation or maintenance of the facilities erected, maintained, or acquired by it or any fees, rentals, or other charges for the use of such facilities or other income received by the authority; provided, however, that in no event shall the exemptions granted in this Code section extend to any lessee or other private person or entity.
Section: Previous 12-3-400 12-3-401 12-3-402 12-3-403 12-3-404 12-3-405 12-3-406 12-3-407 12-3-408 12-3-409 12-3-410 12-3-411 12-3-412 12-3-413 12-3-414 NextLast modified: October 14, 2016