The proceeds derived from the sale of any refunding schoolhouse bonds issued under the authority of this subpart shall be applied exclusively to the purposes provided in Code Sections 20-2-450 through 20-2-472. None of such refunding bonds shall be exchanged except for outstanding bonds for which they were issued to retire. In no event shall the refunding schoolhouse bonds so issued exceed in amount the previously existing total schoolhouse bond debt of the district issuing such bonds with interest thereon.
History. Ga. L. 1937, p. 869, § 10.
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