O.C.G.A.

O.C.G.A. § 20-2-457 (2019)

District bonds - Tax levy to provide sinking fund to retire 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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Where an election held in the manner provided in Code Sections 20-2-451 through 20-2-455 results favorably to the issue of such bonds, the county board of education or corresponding body of independent school districts, as the case may be, shall recommend, and the board of county commissioners or judge of the probate court or municipal tax levying authorities, as the case may be, shall annually levy upon the property subject to taxation in the school district in which the election was held, such tax as may be necessary to provide a sinking fund for the retirement of the bonds and for paying the principal thereof and the interest thereon, this to be in addition to the general tax for the maintenance of the schools of the district.

History

Ga. L. 1937, p. 869, § 5.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 64 Am. Jur. 2d, Public Securities and Obligations, § 386 et seq.

C.J.S. 78A C.J.S., Schools and School Districts, §§ 787, 799 et seq., 881 et seq.