O.C.G.A.

O.C.G.A. § 20-2-456 (2019)

Elections to approve refunding, retiring, or refinancing outstanding district bonds - Vote required; declaration of favorable result; issuance of refunding bonds

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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In the event that two-thirds of the votes cast at an election held as

ELEMENTARY & SECONDARY EDUC.

provided in Code Sections 20-2-451 through 20-2-455 are in favor of refunding “outstanding schoolhouse bonds” and such two-thirds are also a majority of all the voters qualified to vote in the election, then the officials as named in Code Sections 20-2-451 through 20-2-455 shall so declare the result; and such officials shall have the power and authority, after validation as provided in Code Section 20-2-470, to issue such refunding schoolhouse bonds for sale or exchange for the purpose of retiring the outstanding schoolhouse bonds in the district under all of the regulations now provided by law for school district bonds.

History

Ga. L. 1937, p. 869, § 5.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 64 Am. Jur. 2d, Public Securities and Obligations, §§ 153, 184 et seq.

C.J.S. 78A C.J.S., Schools and School Districts, §§ 756, 765 et seq., 773 et seq.