TITLE 20 EDUCATION

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

ARTICLE 11 PUBLIC SCHOOL PROPERTY AND FACILITIES

20-2-555. Authority to issue revenue bonds; terms.

The authority, or any authority or body which has or which may in the future succeed to the powers, duties, and liabilities vested in the authority created by this part, shall have power, at one time or from time to time, to provide by resolution for the issuance of negotiable revenue bonds in an unlimited amount for the purpose of paying all or any part of the cost, as defined in paragraph (3) of subsection (a) of Code Section 20-2-551, of any one project or combination of projects. The principal and interest, if any, of such revenue bonds shall be payable solely from the special fund provided in this part for such payment. The bonds of each issue shall be dated; shall bear interest, if any, at such rate or rates, payable on a date or dates certain; shall mature at such time or times not exceeding 30 years from their date or dates; shall be payable in such medium of payment as to both principal and interest as may be determined by the authority; and may be made redeemable before maturity, at the option of the authority, at such price or prices and under such terms and conditions as may be fixed by the authority in the resolution provided for the issuance of the bonds.

(Ga. L. 1951, p. 241, § 5; Ga. L. 1960, p. 775, § 1; Ga. L. 2010, p. 1001, § 4/HB 936.)