---
title: O.C.G.A. § 20-2-473. Limitations on issue and use of bonds and proceeds.
collection: code
id: 20-2-473
cite_as: O.C.G.A. § 20-2-473 (2025)
canonical_url: https://georgiacommons.org/code/20-2-473
md_url: https://georgiacommons.org/code/20-2-473.md
text_url: https://georgiacommons.org/code/20-2-473/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=575
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/20-2-472.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. § 20-2-473. Limitations on issue and use of bonds and proceeds.

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.

## History

Ga. L. 1937, p. 869, § 10.