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O.C.G.A. § 20-2-460 — District bonds - Sinking fund for holders failing or refusing to sell or exchange outstanding bonds | Georgia Code
O.C.G.A. § 20-2-460 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 20 EDUCATION

Section 2. Elementary and Secondary Education, 20-2-1 through 20-2-2180.

ARTICLE 9 LOCAL PUBLIC SCHOOL FINANCES

20-2-460. District bonds - Sinking fund for holders failing or refusing to sell or exchange outstanding bonds.

Should any holder of an outstanding schoolhouse bond which is not due or which has not matured in accordance with the provisions thereof fail or refuse to sell or exchange such bond or bonds for refunding schoolhouse bonds issued in accordance with this subpart, it shall be the duty of the officials of the school district which issued such bond or bonds to set aside from the proceeds of the sale of the refunding schoolhouse bonds a sinking fund under all the regulations now provided by law for sinking funds for schoolhouse bonds for the purpose of retiring such bonds when they mature and paying the interest accrued or to accrue thereon.

(Ga. L. 1937, p. 869, § 14.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 64 Am. Jur. 2d, Public Securities and Obligations, § 355 et seq.

C.J.S.

- 78A C.J.S., Schools and School Districts, §§ 786, 787.

Cases Citing O.C.G.A. § 20-2-460

O.C.G.A. § 20-2-460 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

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This Georgia Code resource is curated by an Orange Park personal injury and workers' comp lawyer, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.