Official Code of Georgia Annotated

Title 20. EDUCATION · Chapter 2. ELEMENTARY AND SECONDARY EDUCATION · Article 9. LOCAL PUBLIC SCHOOL FINANCES · Part 3. BOND ISSUES

20-2-473. Limitations on issue and use of bonds and proceeds.

Active

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

The proceeds derived from the sale of any refunding schoolhouse bonds issued under the authority of this subpart shall be applied exclusively to the purposes provided in Code Sections 20-2-450 through 20-2-472. None of such refunding bonds shall be exchanged except for outstanding bonds for which they were issued to retire. In no event shall the refunding schoolhouse bonds so issued exceed in amount the previously existing total schoolhouse bond debt of the district issuing such bonds with interest thereon.

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.

Ga. L. 1937, p. 869, § 10.

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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 575 to 576; merge action: carried; file SHA-256 8daa8948bdb5.