---
title: O.C.G.A. § 20-2-460. District bonds — Sinking fund for holders failing or refusing to sell or exchange outstanding bonds.
collection: code
id: 20-2-460
cite_as: O.C.G.A. § 20-2-460 (2025)
canonical_url: https://georgiacommons.org/code/20-2-460
md_url: https://georgiacommons.org/code/20-2-460.md
text_url: https://georgiacommons.org/code/20-2-460/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=570
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
previous: https://georgiacommons.org/code/20-2-459.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. § 20-2-460. District bonds — Sinking fund for holders failing or refusing to sell or exchange outstanding bonds.

Should any holder of an outstanding schoolhouse bond which is not due or which has not matured in accordance with the provisions thereof fail or refuse to sell or exchange such bond or bonds for refunding schoolhouse bonds issued in accordance with this subpart, it shall be the duty of the officials of the school district which issued such bond or bonds to set aside from the proceeds of the sale of the refunding schoolhouse bonds a sinking fund under all the regulations now provided by law for sinking funds for schoolhouse bonds for the purpose of retiring such bonds when they mature and paying the interest accrued or to accrue thereon.

## History

Ga. L. 1937, p. 869, § 14.