Official Code of Georgia Annotated

Title 20. EDUCATION · Chapter 2. ELEMENTARY AND SECONDARY EDUCATION · Article 6. QUALITY BASIC EDUCATION · Part 4. FINANCING

20-2-170. Authority to withhold payment of bonded indebtedness from appropriation.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

If the State Board of Education has received the notification from any local school system or district described in Code Section 20-2-480 and if at any time the State Board of Education is notified by the sinking fund custodian, trustee, or paying agent for bonded indebtedness of such school district or system that the school district or system has failed to effect the punctual payment of the principal of or interest on such indebtedness, the State Board of Education is authorized to and shall withhold from any state appropriation to which such school district or system may be entitled and apply so much thereof as shall be necessary to the payment of the principal of and interest on such indebtedness then due.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 20-2-170, enacted by Ga. L. 1991, p. 1579, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t20-ch1-2a-(v17)-2022-pdf.pdf, Volume V17, 2022 edition, pages 332 to 333; merge action: carried; file SHA-256 8daa8948bdb5.

Ask about this section

The answer is drawn from this section and, when they fit, the other sections of its chapter. It quotes the text and names the section for each claim. Not legal advice.