The authorities of any municipal corporation of this state are authorized to compromise their bonded debt, in accordance with this article, provided that this article shall not be construed to prejudice the rights of such creditors as may refuse to assent to the compromise.
(Ga. L. 1878-79, p. 85, § 1; Code 1882, § 508m(2); Civil Code 1895, § 758; Civil Code 1910, § 905; Code 1933, § 87-501.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 56 Am. Jur. 2d, Municipal Corporations, Counties, and Other Political Subdivisions, §§ 707, 708.
C.J.S.- 64A C.J.S., Municipal Corporations, § 2528 et seq.
ALR.
- Estoppel to deny validity of municipal bonds issued under an unconstitutional statute, 37 A.L.R. 1310.
Negotiability of municipal bonds as affected by reference to fund from which they are to be paid, 42 A.L.R. 1027.