§ 72. Revenue anticipation obligations for grandstands, stadiums.

Provided further, that revenue anticipation obligations may be issued by the City of Atlanta, Fulton County or DeKalb County, or either of them or by any public corporation created by them or either of them, to provide funds for the construction, in whole or in part of grandstands and stadiums or either of them, or to provide funds to extend, repair or improve such existing facilities. Such revenue anticipation obligations shall be payable, as to principal and interest, only from revenue produced by such facilities, and shall not be deemed debts of or to create debts against, the issuing political subdivisions within the meaning of the constitution as amended; and no such issuing political subdivision shall exercise the power of taxation for the purpose of paying the principal or interest of any such revenue anticipation obligations or any part thereof.

(Acts 1947, p. 1759, § 1)

Editor's note

The above is a local constitutional amendment to Ga. Const. 1945, art. VII, § VII, par. V. Pursuant to Ga. Const. 1983, art. XI, § I, par. IV, and subject to certain exceptions, constitutional amendments were repealed as of July 1, 1987 unless continued by one (1) of the methods provided in such paragraph on or before such date. The above amendment was continued by Acts 1986, p. 4786. The introductory language for the amendment which states what portion of the constitution is amended has been deleted.