---
title: O.C.G.A. § 20-2-471. Exchange or sale of bonds; use of proceeds.
collection: code
id: 20-2-471
cite_as: O.C.G.A. § 20-2-471 (2025)
canonical_url: https://georgiacommons.org/code/20-2-471
md_url: https://georgiacommons.org/code/20-2-471.md
text_url: https://georgiacommons.org/code/20-2-471/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=574
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/20-2-470.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. § 20-2-471. Exchange or sale of bonds; use of proceeds.

Bonds issued under this subpart may be exchanged for not less than an equal principal amount and accrued interest, if any, of indebtedness to be retired thereby, including indebtedness not yet due, if such indebtedness is then redeemable or if the holder thereof is willing to surrender the indebtedness for retirement, but otherwise shall be sold and the proceeds thereof shall be applied to the payment of such schoolhouse bonded indebtedness or accrued interest due or redeemable which may be so surrendered.

## History

Ga. L. 1937, p. 869, § 8.