Section 2. Elections and Primaries Generally, 21-2-1 through 21-2-604.
ARTICLE 2
SUPERVISORY BOARDS AND OFFICERS
21-2-45.1. Special elections on bonded debt; publication; date; discount.
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The governing authority of a county, municipality, or political subdivision desiring to incur bonded debt in accordance with the provisions of the Constitution of Georgia shall call a special election to be held on a certain day for the purpose of submitting to the electorate the question of whether such bonded debt shall be incurred. The governing authority shall publish notice of such election once a week for a period of four weeks immediately preceding the day of the election in a newspaper which publishes the sheriff's advertisements for the county containing all or the largest part of the area of the county, municipality, or political subdivision involved. Such notice shall specify (1) the date of the election and the question to be submitted to the electorate, and (2) the principal amount of bonds to be issued, the purpose for which such bonds are to be issued, the interest rate or rates such bonds are to bear, and the amount of principal to be paid in each year during the life of such bonds; provided, however, that the governing authority, in lieu of specifying the rate or rates of interest which such bonds are to bear, may specify in the notice that such bonds when issued will bear interest at a rate not exceeding a maximum per annum rate of interest as stated in the notice or that, in the event such bonds are to bear different rates of interest for different maturity dates, none of such rates will exceed the maximum rates stated in the notice.
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The date of a municipal bond election shall be specified by the governing authority of the municipality. Such date shall not be less than 30 days after call of such bond election. The municipality shall immediately transmit a copy of such notice to the Secretary of State.
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Nothing contained in this Code section shall prohibit the issuer from selling such bonds at a discount, even if in so doing the effective interest cost resulting therefrom would exceed the maximum per annum interest rate specified in the notice of the election.
(Code 1981, §21-2-45.1, enacted by Ga. L. 1998, p. 295, § 1; Ga. L. 1999, p. 21, § 1; Ga. L. 2008, p. 817, § 2/HB 1098.)
The 2008 amendment,
effective July 1, 2008, added the last sentence in subsection (b).
Cross references.
- Additional provisions regarding bonded debt,
§
36-82-1.
Administrative Rules and Regulations.
- Calls for primaries and elections, Official Compilation of the Rules and Regulations of the State of Georgia, Dates of Primaries and Elections, Sec. 183-1-8-.01.
Law reviews.
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For annual survey of local government law, see 58 Mercer L. Rev. 267 (2006).
JUDICIAL DECISIONS
Sufficient notice.
- Election notice was sufficient under O.C.G.A.
§
21-2-45.1(a) and O.C.G.A.
§
36-82-1(b) because even if the clerical error could have been considered an "irregularity" in the election process, it would not, as a matter of law, have warranted setting aside the election pursuant to O.C.G.A.
§
21-2-522. DeLeGal v. Burch, 273 Ga. App. 825, 616 S.E.2d 485 (2005).
RESEARCH REFERENCES
C.J.S.
- 29 C.J.S., Elections,
§§
138, 139. 64A C.J.S., Municipal Corporations,
§
1673.
ALR.
- Statement regarding cost of proposed public improvement in ballot for special election in that regard, 117 A.L.R. 892.
Statutory provision as to manner and time of notice of special election as mandatory or directory, 119 A.L.R. 661.
Validity of submission of proposition to voters at bond election as effected by inclusion of several structures or units, 4 A.L.R.2d 617.
Law reviews.
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For article, "Local Government Law," see 53 Mercer L. Rev. 389 (2001).
