---
title: O.C.G.A. § 20-2-458. Local or consolidated school district bonds — Sale or exchange.
collection: code
id: 20-2-458
cite_as: O.C.G.A. § 20-2-458 (2025)
canonical_url: https://georgiacommons.org/code/20-2-458
md_url: https://georgiacommons.org/code/20-2-458.md
text_url: https://georgiacommons.org/code/20-2-458/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.
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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. § 20-2-458. Local or consolidated school district bonds — Sale or exchange.

Any refunding bonds of a local school district or consolidated school district shall, after validation, be turned over to the county board of education to be sold or exchanged as provided in this subpart, and the county board is authorized to sell or exchange such bonds under all of the regulations now provided by law for the sale of school district bonds or as provided in this subpart. When such bonds are sold by the county board, the proceeds derived therefrom shall be held in trust by the county board only for the purposes provided in this subpart. When such bonds are exchanged by the county board, which is authorized to do so, such exchange shall be in accordance with Code Section 20-2-471.

## History

Ga. L. 1937, p. 869, § 7.

## Code Commission Notes

Pursuant to Code Section 28-9-5, in 1992, a comma was deleted following “do” and a comma was inserted following “so” in the last sentence.