36-39-26. Sale of bonds; delivery to contractors.

Active

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

The bonds shall be sold by the governing body at not less than par and the proceeds thereof shall be applied to the payment of the contract price and other expenses incurred pursuant to this chapter. Alterna-tively, such bonds in the amount that is necessary for the purpose may be turned over and delivered to the contractor at par value in payment of the amount due him on his contract, and the portion thereof which is necessary to pay other expenses incident to and incurred in providing for the improvements shall be sold or otherwise disposed of as the governing body directs.

Reading note: a word broken across two lines in the printed volume was joined by rule and could not be checked against the volume's own vocabulary. The official page linked below settles any doubt.

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. 1927, p. 321, § 10; Code 1933, § 69-418.

Read the official page (the state's PDF, opened at the page this text was read from).

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, page 844; merge action: bound only; file SHA-256 6c7b6bcea397.