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Official Code of Georgia Annotated

Title 36. LOCAL GOVERNMENT · Chapter 82. BONDS · Article 1. GENERAL PROVISIONS

36-82-8. Deduction of sinking fund in computing bonded indebtedness.

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

  1. All amounts collected and held in a sinking fund pursuant to Article IX, Section V, Paragraph VI of the Constitution of Georgia, irrevocably pledged and appropriated to the retirement of the outstanding bonded indebtedness for which they are collected, which can be legally used for no other purpose, shall be deductible from total bonded debt in computing the constitutional limitation on the bonded indebtedness of a political subdivision of this state under Article IX, Section VII of the Constitution of Georgia.

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. 1958, p. 203, § 1; Ga. L. 1983, p. 3, § 57.

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 t36-ch60-92-(v27a)-2025-pdf.pdf, Volume V27A, 2025 edition, page 468; merge action: bound only; file SHA-256 5150ee8c60f7.