Bonds issued under this subpart may be exchanged for not less than an equal principal amount and accrued interest, if any, of indebtedness to be retired thereby, including indebtedness not yet due, if such indebtedness is then redeemable or if the holder thereof is willing to surrender the indebtedness for retirement, but otherwise shall be sold and the proceeds thereof shall be applied to the payment of such schoolhouse bonded indebtedness or accrued interest due or redeemable which may be so surrendered.
History. Ga. L. 1937, p. 869, § 8.
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