All amounts collected and held in a sinking fund pursuant to Article IX, Section V, Paragraph VI of the Constitution of Georgia, irrevocably pledged and appropriated to the retirement of the outstanding bonded indebtedness for which they are collected, which can be legally used for no other purpose, shall be deductible from total bonded debt in computing the constitutional limitation on the bonded indebtedness of a political subdivision of this state under Article IX, Section VII of the Constitution of Georgia.
History. Ga. L. 1958, p. 203, § 1; Ga. L. 1983, p. 3, § 57.
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