O.C.G.A.
O.C.G.A.

O.C.G.A. § 36-38-21 (2019)

Issuance of new bonds for outstanding bonds

✓ 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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Where there are outstanding bonds and coupons of any municipal corporation of this state, whether such bonds or coupons are due or to become due, the authorities may issue new bonds with coupons attached, to be exchanged and to stand in the place of such outstanding bonds and coupons, provided that the new bonds so issued shall not exceed in amount the previously existing total bonded debt, with interest thereon, of such municipal corporation.

History

Ga. L. 1878-79, p. 85, § 2; Code 1882, § 508m(3); Civil Code 1895,

§ 759; Civil Code 1910, § 906; Code 1933, § 87-502.

Annotations

RESEARCH REFERENCES C.J.S. - 64A C.J.S., Municipal Corporations, §§ 2186, 2187. ALR. - Estoppel to deny validity of

municipal bonds issued under an unconstitutional statute, 37 A.L.R. 1310.