O.C.G.A.

O.C.G.A. § 20-2-471 (2019)

Exchange or sale of bonds; use of proceeds

✓ 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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Bonds issued under this subpart may be exchanged for not less than an equal principal amount and accrued interest, if any, of indebtedness to be retired thereby, including indebtedness not yet due, if such indebtedness is then redeemable or if the holder thereof is willing to

ELEMENTARY & SECONDARY EDUC.

surrender the indebtedness for retirement, but otherwise shall be sold and the proceeds thereof shall be applied to the payment of such schoolhouse bonded indebtedness or accrued interest due or redeemable which may be so surrendered.

History

Ga. L. 1937, p. 869, § 8.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 64 Am. Jur. 2d, Public Securities and Obligations, § 230.