---
title: O.C.G.A. § 36-82-122. Exemption of bonds from Constitution and laws of Georgia regulating interest rates; fixing of rates of interest by resolution or ordinance.
collection: code
id: 36-82-122
cite_as: O.C.G.A. § 36-82-122 (2025)
canonical_url: https://georgiacommons.org/code/36-82-122
md_url: https://georgiacommons.org/code/36-82-122.md
text_url: https://georgiacommons.org/code/36-82-122/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=529
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
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publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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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. § 36-82-122. Exemption of bonds from Constitution and laws of Georgia regulating interest rates; fixing of rates of interest by resolution or ordinance.

(a) From and after March 16, 1981, any bonds issued by a municipality shall be exempt from:

(1) All laws of this state governing usury or prescribing or limiting interest rates to be borne by bonds; and

(2) All provisions of the Constitution of Georgia prescribing or limiting interest rates to be borne by bonds to the extent that the Constitution of Georgia permits the General Assembly by law to define further the powers and duties of any such municipality and to enlarge or restrict the same.

(b) The interest rate or rates to be borne by any bonds issued by a municipality shall be fixed by the governing body of such municipality in the resolution or ordinance adopted by such governing body to authorize the issuance of any such bonds.

## History

Ga. L. 1981, p. 384, § 3; Ga. L. 1982, p. 1603, §§ 1, 3.

## Cross References

Usury, § 7-4-1 et seq.

## Editor's Notes

Ga. L. 1982, p. 1603, § 2 ratified and reaffirmed all terms and provisions of Ga. L. 1981, p. 384, as amended by the 1982 Act, and declared that such terms and provisions were of full force and effect. Ga. L. 1982, p. 1603, § 2 stood repealed on November 1, 1982, as provided in § 5(b) of the 1982 Act.

## Law Reviews

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