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O.C.G.A. § 36-38-2 — Sale of municipal bonds and use of proceeds for retirement of earlier bonds | Georgia Code

O.C.G.A. § 36-38-2 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 36 LOCAL GOVERNMENT

Chapter 38 information not found

ARTICLE 1 GENERAL PROVISIONS

36-38-2. Sale of municipal bonds and use of proceeds for retirement of earlier bonds.

Whenever a municipal corporation invests its sinking fund in bonds issued by itself, if such bonds mature at a date beyond the maturity of other bonds of such municipal corporation such later bonds may be sold by the municipal corporation or the sinking fund commission and the funds therefrom used to retire earlier municipal bonds as they mature.

(Ga. L. 1923, p. 123, § 3a; Code 1933, § 87-703; Ga. L. 1935, p. 417, § 2.)

Law reviews.

- For note discussing and comparing the prudent man rule and the legal list rule in trustee investment, see 15 Mercer L. Rev. 530 (1964).

RESEARCH REFERENCES

C.J.S.

- 64A C.J.S., Municipal Corporations, §§ 2186, 2187.

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This Georgia Code resource is curated by an Orange Park personal injury and workers' comp lawyer, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.