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Call Now: 904-383-7448The proceeds arising from any sale or lease of property under Code Section 20-3-60 shall be used for the support of the university system and its branches or for the payment of any debts thereof as the board of regents may determine.
(Ga. L. 1935, p. 168, § 3.)
- Ga. L. 1935, p. 168, §§ 1 through 3, which authorize the regents to sell excess property and to retain the proceeds, have been ruled to be consistent with the Budget Act, Ga. L. 1962, p. 17, § 1 et seq. 1977 Op. Att'y Gen. No. 77-77.
- Property held by the regents may be sold, leased, or otherwise disposed of by the regents, subject to the approval of the Governor, whenever the regents may deem such sale, lease, or other disposition to be in the best interests of the university system, provided that the regents shall first determine that the property can no longer be advantageously used in the university system. 1963-65 Op. Att'y Gen. p. 40.
- Practice followed by the regents of maintaining the proceeds from the sale of surplus personal property is authorized. 1972 Op. Att'y Gen. No. 72-73.
Proceeds of sale of property by the regents are used for support of system and branches. 1962 Op. Att'y Gen. p. 590.
- 15A Am. Jur. 2d, Colleges and Universities, § 41.
- 14A C.J.S., Colleges and Universities, § 6 et seq.
No results found for Georgia Code 20-3-62.