O.C.G.A. § 20-2-391 (2019)
Loan resolution
In order for any county board of education to borrow money for the purposes stated in Code Section 20-2-390, there shall be passed by the county board a resolution authorizing the money to be borrowed, in which resolution shall be stated the amount of money to be borrowed, the length of time it is to be used, the rate of interest to be paid, for what purpose borrowed, and from whom it is to be borrowed, which resolution shall be recorded on the minutes of the meetings of the county board by the county school superintendent.
History
Ga. L. 1919, p. 288, § 96; Code 1933, § 32-922.
Annotations
JUDICIAL DECISIONS Editor’s notes. - In light of the similarity of the statutory provisions, a deci-
sion under former Code 1933, § 32-1133, which was subsequently repealed but was
ELEMENTARY & SECONDARY EDUC.
succeeded by provisions in this Code section, is included in the annotations for this Code section. Without legal resolution, renewals of notes without binding force. - If the local school district was without authority to execute notes in the first instance, being without a resolution con-
forming to the requirements of the law, the renewals thereof were necessarily without binding force and there was no obligation on its part to make known any intention not to pay. Jasper Sch. Dist. v. Gormley, 57 Ga. App. 537, 196 S.E. 232, 1938 Ga. App. LEXIS 332 (1938) (decided under former Code 1933, § 32-1133).
RESEARCH REFERENCES Am. Jur. 2d. 68 Am. Jur. 2d, Schools, § 79. C.J.S. 78A C.J.S., Schools and School Districts, § 707 et seq.
ALR. Right of person advancing money for public school purposes to be reimbursed, 50 A.L.R. 1291.