the governing authority shall be authorized to expend such bond funds, including interest, for purposes of a nature substantially similar to the purpose stated in such notice or to reduce the bonded indebtedness of the county, municipality, or political subdivision.
History. Code 1981, § 36-82-4.2 , enacted by Ga. L. 1990, p. 1441, § 1; Ga. L. 2000, p. 1589, § 3.
Editor’s notes.
Ga. L. 2000, p. 1589, § 16, not codified by the General Assembly, provides that the amendment of this Code section is applicable with respect to notices delivered on or after July 1, 2000.
Structure Georgia Code
Article 1 - General Provisions
§ 36-82-2. Voting in Election for Bonded Debt; Returns and Declaration of Election Result
§ 36-82-4. Action for Collection of Bonds by Holders
§ 36-82-4.2. Expenditure of Bond Funds for Purposes Other Than Stated in Public Bond Notice
§ 36-82-5. Destruction of Unsold Bonds
§ 36-82-7. Authorized Investments for Bond Proceeds
§ 36-82-7.1. Assessment and Collection of Tax to Pay Refunding Bonds
§ 36-82-8. Deduction of Sinking Fund in Computing Bonded Indebtedness
§ 36-82-9. Certification Requirement for Pension Obligation Bonds; Requirement for Reserve Fund