§ 20-3-64. Issuing State Bonds to Redeem Obligations of University System — Option of Regents; Compliance With Constitutional Sinking Fund Provisions

For the redemption of any valid matured bond of this state presented as the property of the university system, bonds may be issued at the option of the board of regents as provided in Code Section 20-3-63; provided, however, that this Code section shall not be operative in any year until the constitutional sinking fund redemptions have been made for that year.

History. Ga. L. 1935, p. 170, § 4.

Cross references.

Sinking fund for debt service, Ga. Const. 1983, Art. VII, Sec. IV, Para. III.