Syfert Injury Law Firm

Your Trusted Partner in Personal Injury & Workers' Compensation

Call Now: 904-383-7448
O.C.G.A. § 36-80-14 — Annual sinking fund for unbonded debt | Georgia Code
O.C.G.A. § 36-80-14 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 36 LOCAL GOVERNMENT

Chapter 80 information not found

ARTICLE 3 ENFORCEMENT BOARDS CREATED PRIOR TO JANUARY 1, 2003

36-80-14. Annual sinking fund for unbonded debt.

Any county, municipality, or political subdivision of this state which incurs an indebtedness under Code Sections 36-80-10 through 36-80-13 and this Code section shall, on or before so doing, or annually thereafter, provide, without incurring further debt thereby, an annual sum sufficient in amount to pay the principal and interest of the debt within 30 years from the date of the incurring of the indebtedness.

(Ga. L. 1904, p. 85, § 5; Civil Code 1910, § 467; Code 1933, § 87-605; Ga. L. 1993, p. 91, § 36.)

JUDICIAL DECISIONS

Cited in American Sur. Co. v. City of Thomasville, 73 F.2d 584 (5th Cir. 1934).

RESEARCH REFERENCES

Am. Jur. 2d.

- 64 Am. Jur. 2d, Public Securities and Obligations, §§ 5, 323, 324.

ALR.

- Liability of officer for loss of sinking fund through failure of bank, 25 A.L.R. 1358.

Constitutional provisions against impairment of obligations of contract as applied to sinking funds for retirement of municipal or other public bonds, 115 A.L.R. 220.

Existing sinking fund as a factor in determining whether indebtedness or proposed indebtedness of municipality or other political subdivision exceeds constitutional or statutory limit, 125 A.L.R. 1393.

Database error: SQLSTATE[HY000]: General error: 8 attempt to write a readonly database

This Georgia Code resource is curated by this site's author, 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.