---
title: Ga. Const. Art. VIII, Sec. VII, Para. II. Guaranteed revenue debt.
collection: code
id: ga-const:art-viii-sec-vii-para-ii
cite_as: Ga. Const. Art. VIII, Sec. VII, Para. II
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date: 2016
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heading_path: CONSTITUTION OF THE / EDUCATION / EDUCATIONAL ASSISTANCE
---

# Ga. Const. Art. VIII, Sec. VII, Para. II. Guaranteed revenue debt.

A constitution provision shown as in force is in force as printed in the volume. A court decision can make a printed provision unenforceable without changing the volume, and the volume does not record that.

Guaranteed revenue debt may be incurred to provide funds to make loans to students and to parents of students for educational purposes, to purchase loans made to students and to parents of students for educational purposes, or to lend or make deposits of such funds with lenders which shall be secured by loans made to students and to parents of students for educational purposes. Any such debt shall be incurred in accordance with the procedures and requirements of Article VII, Section IV of this Constitution.

## Cross References

Georgia Higher Education Assistance Corporation, § 20-3-260 et seq. Creation of Georgia Student Finance Authority, § 20-3-313.

## 1976 Constitution.

Art. X, Sec. II, Para. XIV.

## Investable Default Reserve Funds.

The Georgia Higher Education Assistance Corporation may invest default reserve funds consisting of: (1) funds appropriated to the corporation by the State of Georgia; (2) funds allocated to the corporation by the federal government; (3) insurance premiums charged to lenders by the corporation for the guarantee of student loans; and (4) investment income of the corporation resulting from investment of the three foregoing classifications of funds and from reinvestment of prior investment-earned income with federal savings and loan associations and with state-chartered building and loan associations which are insured by the Federal Savings and Loan Insurance Corporation. 1969 Op. Att’y Gen. No. 69-215.