36-38-2. Sale of municipal bonds and use of proceeds for retirement of earlier bonds.

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

Whenever a municipal corporation invests its sinking fund in bonds issued by itself, if such bonds mature at a date beyond the maturity of other bonds of such municipal corporation such later bonds may be sold by the municipal corporation or the sinking fund commission and the funds therefrom used to retire earlier municipal bonds as they mature.

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.

History

Ga. L. 1923, p. 123, § 3a; Code 1933, § 87-703; Ga. L. 1935, p. 417, § 2.

Law reviews

For note discussing and comparing the prudent man rule and the legal list rule in trustee investment, see 15 Mercer L. Rev. 530 (1964).

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

Text read from t35-t36-ch1-59-(v27)-2025-pdf.pdf, Volume V27, 2025 edition, pages 817 to 818; merge action: bound only; file SHA-256 6c7b6bcea397.

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