Should any holder of an outstanding schoolhouse bond which is not due or which has not matured in accordance with the provisions thereof fail or refuse to sell or exchange such bond or bonds for refunding schoolhouse bonds issued in accordance with this subpart, it shall be the duty of the officials of the school district which issued such bond or bonds to set aside from the proceeds of the sale of the refunding schoolhouse bonds a sinking fund under all the regulations now provided by law for sinking funds for schoolhouse bonds for the purpose of retiring such bonds when they mature and paying the interest accrued or to accrue thereon.
History. Ga. L. 1937, p. 869, § 14.
Structure Georgia Code
Chapter 2 - Elementary and Secondary Education
Article 9 - Local Public School Finances
§ 20-2-450. Subpart to Govern Refunding, Retiring, or Refinancing Outstanding District Bonds
§ 20-2-457. District Bonds — Tax Levy to Provide Sinking Fund to Retire Bonds
§ 20-2-458. Local or Consolidated School District Bonds — Sale or Exchange
§ 20-2-459. Independent School District Bonds — Sale or Exchange
§ 20-2-462. County-Wide Bonds — Powers of Counties as to Refunding, Refinancing, or Retiring
§ 20-2-464. County-Wide Bond Elections — Notice
§ 20-2-465. County-Wide Bond Elections — Eligible Voters; Conduct of Election; Declaration of Result
§ 20-2-466. County-Wide Bonds — Vote Required to Approve; Issuance, Sale, or Exchange
§ 20-2-467. County-Wide Bonds — Handling and Use of Proceeds
§ 20-2-468. County-Wide Bonds — Tax Levy to Provide Sinking Fund to Retire Bonds
§ 20-2-470. Validation of Bonds
§ 20-2-471. Exchange or Sale of Bonds; Use of Proceeds
§ 20-2-472. Establishment of Sinking Fund for Unsurrendered Bonds
§ 20-2-473. Limitations on Issue and Use of Bonds and Proceeds
§ 20-2-474. Powers and Duties of Officials as to Bonds, Taxes, and Sinking Funds
§ 20-2-476. When SubPart Applicable to Independent School Districts
§ 20-2-477. Construction of SubPart Against Impairment of Outstanding Bonds