If the state borrows money for land and property acquisition, what is the maximum term for the debt instrument?

The correct answer is based on the provisions outlined in the Georgia Constitution regarding the state's borrowing capacity. Specifically, when the state incurs debt for acquiring land or property, the maximum term for the debt instrument is defined. In this case, the Georgia Constitution permits such debt instruments to have a term of up to 25 years.

This provision is designed to ensure fiscal responsibility and to limit the time over which the state commits to repaying borrowed funds. By capping the term at 25 years, the Constitution seeks to balance the need for state funding for public projects with the need to maintain manageable levels of public debt. This helps prevent excessively long obligations that could burden future generations.

The other options exceed this 25-year limit, which is why they do not align with the constitutional requirement for borrowing in the context of land and property acquisition.