---
title: O.C.G.A. § 36-82-120. Purpose of article.
collection: code
id: 36-82-120
cite_as: O.C.G.A. § 36-82-120 (2025)
canonical_url: https://georgiacommons.org/code/36-82-120
md_url: https://georgiacommons.org/code/36-82-120.md
text_url: https://georgiacommons.org/code/36-82-120/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t36-ch60-92-(v27a)-2025-pdf.pdf?sfvrsn=1fad51cc_0#page=528
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/36-82.md
previous: https://georgiacommons.org/code/36-82-100.md
next: https://georgiacommons.org/code/36-82-121.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 Counties, Municipal Corporations, and Other Governmental Entities / BONDS / REGULATION OF INTEREST RATES FOR BONDS AND OBLIGATIONS OTHER THAN GENERAL OBLIGATION BONDS
---

# O.C.G.A. § 36-82-120. Purpose of article.

It is the purpose of this article to maintain the fiscal solvency of counties, municipal corporations, and political subdivisions of the state and authorities and public corporations created by the Constitution of Georgia or any general, local, or special Act of the General Assembly in public borrowing by exempting from all other laws of the state governing usury or prescribing or limiting interest rates any bonds, notes, certificates, or obligations of any kind issued by any such county, municipal corporation, political subdivision, authority, or public corporation to evidence any repayment obligation for money borrowed, exclusive of general obligation bonds.

## History

Ga. L. 1981, p. 384, § 1.

## Law Reviews

For article surveying developments in Georgia local government law from mid-1980 through mid-1981, see 33 Mercer L. Rev. 187 (1981).