---
title: O.C.G.A. § 20-2-457. District bonds — Tax levy to provide sinking fund to retire bonds.
collection: code
id: 20-2-457
cite_as: O.C.G.A. § 20-2-457 (2025)
canonical_url: https://georgiacommons.org/code/20-2-457
md_url: https://georgiacommons.org/code/20-2-457.md
text_url: https://georgiacommons.org/code/20-2-457/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t20-ch1-2a-(v17)-2022-pdf.pdf?sfvrsn=9db936c6_0#page=569
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/20-2.md
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: EDUCATION / ELEMENTARY AND SECONDARY EDUCATION / LOCAL PUBLIC SCHOOL FINANCES / BOND ISSUES / Refunding Bonds
---

# O.C.G.A. § 20-2-457. District bonds — Tax levy to provide sinking fund to retire bonds.

Where an election held in the manner provided in Code Sections 20-2-451 through 20-2-455 results favorably to the issue of such bonds, the county board of education or corresponding body of independent school districts, as the case may be, shall recommend, and the board of county commissioners or judge of the probate court or municipal tax levying authorities, as the case may be, shall annually levy upon the property subject to taxation in the school district in which the election was held, such tax as may be necessary to provide a sinking fund for the retirement of the bonds and for paying the principal thereof and the interest thereon, this to be in addition to the general tax for the maintenance of the schools of the district.

## History

Ga. L. 1937, p. 869, § 5.