O.C.G.A.

O.C.G.A. § 20-2-460 (2019)

District bonds - Sinking fund for holders failing or refusing to sell or exchange outstanding 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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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

ELEMENTARY & SECONDARY EDUC.

of retiring such bonds when they mature and paying the interest accrued or to accrue thereon.

History

Ga. L. 1937, p. 869, § 14.

Annotations

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.