Syfert Injury Law Firm
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Call Now: 904-383-7448When the bonds become due, the owners thereof, if necessary, may enforce their collection by action in the proper court.
(Ga. L. 1878-79, p. 40, § 5; Code 1882, § 508m; Civil Code 1895, § 381; Civil Code 1910, § 444; Code 1933, § 87-205.)
Promissory note given by municipal corporation is invalid even in the hands of a bona fide endorsee for value before the note became due and although all but one of the notes had been paid this does not prevent the corporation from setting up the illegality of the contract in defense to a suit on the note. Town of Wadley v. Lancaster, 124 Ga. 354, 52 S.E. 335 (1905).
- 64 Am. Jur. 2d, Public Securities and Obligations, §§ 309, 382, 394.
- 64A C.J.S., Municipal Corporations, § 2203 et seq.
- Negotiability of municipal bonds as affected by reference to fund from which they are to be paid, 42 A.L.R. 1027.
Priority or preference as between different issues of bonds of municipalities or political subdivisions, absent express provisions in that regard, 108 A.L.R. 1018.
When limitations begin to run against actions on public securities or obligations to be paid out of special or particular fund, 50 A.L.R.2d 271.
No results found for Georgia Code 36-82-4.