There is a newer version
of
this Section
2018 Georgia Code
Title 20 - Education
Chapter 2 - Elementary and Secondary Education
Article 6 - Quality Basic Education
Part 4 - Financing
§ 20-2-170. Authority to withhold payment of bonded indebtedness from appropriation
Universal Citation: GA Code § 20-2-170 (2018)
If the State Board of Education has received the notification from any local school system or district described in Code Section 20-2-480 and if at any time the State Board of Education is notified by the sinking fund custodian, trustee, or paying agent for bonded indebtedness of such school district or system that the school district or system has failed to effect the punctual payment of the principal of or interest on such indebtedness, the State Board of Education is authorized to and shall withhold from any state appropriation to which such school district or system may be entitled and apply so much thereof as shall be necessary to the payment of the principal of and interest on such indebtedness then due.
Disclaimer: These codes may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
