It is the purpose of this article to maintain the fiscal solvency of counties, municipal corporations, and political subdivisions of the state and authorities and public corporations created by the Constitution of Georgia or any general, local, or special Act of the General Assembly in public borrowing by exempting from all other laws of the […]
As used in this article, the term: “Bonds” means any bonds, notes, certificates, or obligations of any kind issued by any municipality to evidence any repayment obligation for money borrowed by such municipality, exclusive of general obligation bonds. “General obligation bonds” means any bonds, notes, certificates, or obligations of any kind issued by any municipality […]
From and after March 16, 1981, any bonds issued by a municipality shall be exempt from: All laws of this state governing usury or prescribing or limiting interest rates to be borne by bonds; and All provisions of the Constitution of Georgia prescribing or limiting interest rates to be borne by bonds to the extent […]
All provisions contained in any of the following laws which prescribe or limit the interest rate or rates to be borne by bonds are repealed to the extent the same are in conflict with this article and to the extent necessary to effect the purpose of this article by exempting any bonds issued by a […]
This article shall be liberally construed to effect the purposes hereof; and insofar as the provisions of this article may be inconsistent with the provisions of the Constitution of Georgia, under circumstances where the General Assembly has been granted the power by law to enlarge or restrict such provisions of the Constitution of Georgia, or […]
