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.
(Ga. L. 1935, p. 170, § 4.)
Cross references.- Sinking fund for debt service, Ga. Const. 1983, Art. VII, Sec. IV, Para. III.
RESEARCH REFERENCES
Am. Jur. 2d.
- 64 Am. Jur. 2d, Public Securities and Obligations, § 110.
C.J.S.- 14A C.J.S., Colleges and Universities, § 6 et seq.