---
title: O.C.G.A. § 36-38-21. Issuance of new bonds for outstanding bonds.
collection: code
id: 36-38-21
cite_as: O.C.G.A. § 36-38-21 (2025)
canonical_url: https://georgiacommons.org/code/36-38-21
md_url: https://georgiacommons.org/code/36-38-21.md
text_url: https://georgiacommons.org/code/36-38-21/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t35-t36-ch1-59-(v27)-2025-pdf.pdf?sfvrsn=66569db4_0#page=819
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/36-38.md
previous: https://georgiacommons.org/code/36-38-20.md
next: https://georgiacommons.org/code/36-38-22.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Session of the General Assembly of Georgia
heading_path: LOCAL GOVERNMENT / Provisions Applicable to Municipal Corporations Only / BONDS / COMPROMISE OF BONDED DEBT
---

# O.C.G.A. § 36-38-21. Issuance of new bonds for outstanding bonds.

Where there are outstanding bonds and coupons of any municipal corporation of this state, whether such bonds or coupons are due or to become due, the authorities may issue new bonds with coupons attached, to be exchanged and to stand in the place of such outstanding bonds and coupons, provided that the new bonds so issued shall not exceed in amount the previously existing total bonded debt, with interest thereon, of such municipal corporation.

## History

Ga. L. 1878-79, p. 85, § 2; Code 1882, § 508m(3); Civil Code 1895, § 759; Civil Code 1910, § 906; Code 1933, § 87-502.