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Current as of March 28, 2024 | Updated by FindLaw Staff
(a) From and after March 16, 1981, any bonds issued by a municipality shall be exempt from:
(1) All laws of this state governing usury or prescribing or limiting interest rates to be borne by bonds; and
(2) All provisions of the Constitution of Georgia prescribing or limiting interest rates to be borne by bonds to the extent that the Constitution of Georgia permits the General Assembly by law to define further the powers and duties of any such municipality and to enlarge or restrict the same.
(b) The interest rate or rates to be borne by any bonds issued by a municipality shall be fixed by the governing body of such municipality in the resolution or ordinance adopted by such governing body to authorize the issuance of any such bonds.
Cite this article: FindLaw.com - Georgia Code Title 36. Local Government § 36-82-122 - last updated March 28, 2024 | https://codes.findlaw.com/ga/title-36-local-government/ga-code-sect-36-82-122/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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